Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against Bitget+0.169%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bitget Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. dYdX is 0.169% dearer against Bitget than usual: you sell high and buy low (spread +0.169% now, against zero (this spread has no 7-day history yet)): +$17 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 5.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget XPLUSDT	0.09525	0.0100	pay 0.0050% / 4h	22m 12s	$9.0M	$9.9M	75x
Short	dYdX XPL-USD	0.09541	0	get 0.0000% / 1h	22m 12s	$9K	$600	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Bitget. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BitgetbpFee dYdXbpOrdersPrice spread, now +0.169%Rate

Funding earned: −$21
Price spread: +0.169% → 0.000%: $16.89
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$26.11
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 1 min ago; dYdX: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Bitget live order book, 1 min ago	2.10 bp	15.1 bp −$15	22.0 bp −$220	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

XPL on 36 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPL	−0.1456%	1h	0.09502	−0.241%	$4.3M	$3.2M	10x	as long as short
01 Exchange XPLUSD	−0.0512%	1h	0.09511	−0.147%	$553	$873	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0275%	1h	0.09520	−0.052%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09524	−0.012%	$105K	—	100x	as long as short
Paradex XPL-USD-PERP	−0.0040%	8h	0.09522	−0.027%	$12K	$696	5x	as long as short
Orderly PERP_XPL_USDC	−0.0026%	4h	0.09515	−0.105%	$30K	$290K	10x	as long as short
Bybit XPLUSDT	−0.0019%	4h	0.09514	−0.115%	$45.3M	$54.0M	75x	as long as short
dYdX XPL-USDshort	0.0000%	1h	0.09541	+0.169%	$9K	$600	5x
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.517%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09527	+0.016%	$72K	—	150x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended XPL-USD	+0.0056%	1h	0.09512	−0.137%	$598K	$1.2M	25x	as long as short
OKX XPL-USDT-SWAP	+0.0064%	4h	0.09514	−0.115%	$7.6M	$47.6M	50x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09519	−0.063%	$1.2M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09527	+0.026%	$60.2M	$46.0M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09526	+0.011%	$252K	$419K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09537	+0.125%	$218K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09514	−0.115%	$43.0M	$97.9M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09548	+0.243%	$139K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09518	−0.073%	$2.9M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09514	−0.115%	$12.4M	$6.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09515	−0.105%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDTlong	+0.0100%	4h	0.09525	long leg	$9.0M	$9.9M	75x
BingX XPL-USDT	+0.0100%	4h	0.09516	−0.094%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09525	0.000%	$178K	$189K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09516	−0.097%	$1.7M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09517	−0.079%	$253K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09520	−0.052%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09524	−0.006%	$125K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09510	−0.157%	$2K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09510	−0.157%	$197	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09537	+0.126%	$132K	$212K	20x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09517	−0.084%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0249%	1h	0.09543	+0.189%	$193K	$495K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09510	−0.157%	$1.7M	$920K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0808%	1h	0.09620	+0.997%	$65K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2726%	1h	0.09624	+1.039%	$543K	$936K	10x	as long as short