Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0340%/8h= −37.2% APRpaid last 24h −0.102%

Price spread now: dYdX against BloFin+0.092%7-day average — · you sell dearer than you buy

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

Long on BloFin 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 0.092% dearer against BloFin than usual: you sell high and buy low (spread +0.092% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 22 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin XPL-USDT	0.09589	0.0340	pay 0.0170% / 4h	1h 26m	$1.7M	$933K	75x
Short	dYdX XPL-USD	0.09598	0	get 0.0000% / 1h	26m 49s	$9K	$600	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against BloFin. 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 BloFinbpFee dYdXbpOrdersPrice spread, now +0.092%Rate

Funding earned: −$71.4
Price spread: +0.092% → 0.000%: $9.25
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$84.15
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: BloFin: 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 BloFin live order book, 1 min ago	1.56 bp	9.0 bp −$9	12.9 bp −$129	54.5 bp −$5,455	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	−0.1160%	1h	0.09592	+0.031%	$4.3M	$3.2M	10x	as long as short
01 Exchange XPLUSD	−0.0360%	1h	0.09587	−0.021%	$639	$790	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09597	+0.080%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0063%	1h	0.09595	+0.063%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	−0.0006%	4h	0.09590	+0.010%	$30K	$266K	10x	as long as short
dYdX XPL-USDshort	0.0000%	1h	0.09598	+0.092%	$9K	$600	5x
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.049%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09580	−0.095%	$72K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0061%	8h	0.09591	+0.019%	$12K	$696	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09589	+0.005%	$1.2M	$2.2M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid XPL	+0.0100%	1h	0.09617	+0.294%	$60.7M	$46.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09608	+0.197%	$254K	$415K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09599	+0.104%	$220K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09601	+0.125%	$43.5M	$97.1M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09599	+0.104%	$45.8M	$53.2M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09604	+0.156%	$7.9M	$47.8M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09565	−0.250%	$139K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09601	+0.125%	$3.0M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09596	+0.073%	$12.5M	$6.8M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09592	+0.031%	$2.3M	$1.3M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09613	+0.250%	$8.8M	$9.6M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09602	+0.136%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09600	+0.115%	$177K	$188K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09566	−0.242%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09565	−0.253%	$260K	$1.2M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09590	+0.010%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09602	+0.132%	$126K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09570	−0.198%	$2K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09590	+0.010%	$200	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09573	−0.167%	$132K	$213K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09596	+0.075%	$602K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09591	+0.016%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09592	+0.031%	$194K	$506K	10x	as long as short
BloFin XPL-USDTlong	+0.0340%	4h	0.09589	long leg	$1.7M	$933K	75x
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.09718	+1.345%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2847%	1h	0.09618	+0.303%	$545K	$933K	10x	as long as short