Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h −0.072%

Price spread now: Pacifica against BloFin−0.034%94s7-day average +0.060% · you buy dearer than you sell

Net, funding: paid 7d − costs−$117as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$730.735% of the position

Long on BloFin Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.433%−$43 on $10k

Price spread, last 3 days (all we have)+0.320%+$32 · spread now −0.034%, 7d avg +0.060%

Together, before fees−0.113%+ Points / potential airdropPacifica: Active · farm board−$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Pacifica is 0.094% cheaper against BloFin than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.060%). Swap the legs. The two prices were read 94 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin XPL-USDT	0.09705	0.0340	pay 0.0170% / 4h	2h 07m	$1.7M	$1.2M	75x
Short	Pacifica XPL	0.09702	0.0100	get 0.0013% / 1h	7m 26s	$220K	$45K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.034%Rate

Funding earned: −$50.4
Price spread: −0.034% → +0.060%: −$9.44
Slippage, 4 orders: −$53.5
Fee BloFin: 6 bp × 2 orders: −$12
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$133.34
Costs to cover: 0.735%
Break-even: never at this rate

Slippage from BloFin: live order book, 10 min ago; Pacifica: live order book, 16 min ago.

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, 10 min ago	4.62 bp	13.6 bp −$14	27.4 bp −$274	84.2 bp −$8,424	doesn't fit
Sell Pacifica live order book, 16 min ago	5.10 bp	24.5 bp −$25	doesn't fit	doesn't fit	doesn't fit

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
GMX XPL/USD [WBTC.b-USDC]	L −0.0087% / S +0.0490%	1h	0.09714	+0.093%	$112K	—	100x	as long as short
Lighter XPL	−0.0080%	1h	0.09686	−0.196%	$4.4M	$4.3M	10x	as long as short
Backpack XPL_USDC_PERP	−0.0068%	1h	0.09712	+0.072%	$177K	$283K	10x	as long as short
01 Exchange XPLUSD	−0.0064%	1h	0.09691	−0.144%	$563	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0059%	1h	0.09716	+0.113%	$47K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09700	−0.056%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.993%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09714	+0.097%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0083%	4h	0.09710	+0.052%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0089%	8h	0.09689	−0.165%	$13K	$2K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XPL-PERP	+0.0100%	1h	0.09699	−0.062%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09707	+0.020%	$62.3M	$47.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09703	−0.024%	$251K	$527K	20x	as long as short
Pacifica XPLshort	+0.0100%	1h	0.09702	−0.034%	$220K	$45K	10x
Binance XPLUSDT	+0.0100%	4h	0.09693	−0.124%	$43.7M	$105.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09692	−0.134%	$47.2M	$53.6M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09694	−0.113%	$8.9M	$53.1M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09700	−0.052%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09695	−0.103%	$12.7M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09695	−0.103%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09697	−0.082%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09695	−0.103%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09696	−0.090%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09704	−0.013%	$262K	$775K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09720	+0.155%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09703	−0.019%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09690	−0.155%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09710	+0.052%	$206	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09703	−0.021%	$138K	$246K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09695	−0.103%	$140K	$11K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09692	−0.137%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09715	+0.103%	$38K	$5K	3x	as long as short
BloFin XPL-USDTlong	+0.0340%	4h	0.09705	long leg	$1.7M	$1.2M	75x
Phoenix XPL	+0.0485%	1h	0.09742	+0.381%	$197K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09783	+0.804%	$74K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3501%	1h	0.09767	+0.640%	$515K	$944K	10x	as long as short