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: KuCoin against dYdX+0.072%47s7-day average — · you sell dearer than you buy

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

Long on dYdX Short on KuCoin

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

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and KuCoin is 0.072% dearer against dYdX than usual: you sell high and buy low: +$7 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 47 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	dYdX XPL-USD	0.09587	0	get 0.0000% / 1h	57m 43s	$9K	$600	5x
Short	KuCoin XPLUSDTM	0.09594	0.0100	get 0.0050% / 4h	57m 43s	$2.3M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against dYdX. 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 dYdXbpFee KuCoinbpOrdersPrice spread, now +0.072%Rate

Funding earned: $21
Price spread: +0.072% → 0.000%: $7.22
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $6.22
Costs to cover: 0.220%
Break-even: 4.9 days

Slippage unknown: dYdX: no order-book sample; KuCoin: live order book, 9 min ago. 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 dYdX no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 9 min ago	8.29 bp	32.1 bp −$32	157.6 bp −$1,576	doesn't fit	doesn't fit

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	−0.1264%	1h	0.09567	−0.209%	$4.3M	$3.1M	10x	as long as short
01 Exchange XPLUSD	−0.0440%	1h	0.09570	−0.178%	$556	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09595	+0.079%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0167%	1h	0.09591	+0.041%	$46K	$18K	25x	as long as short
Backpack XPL_USDC_PERP	−0.0060%	1h	0.09596	+0.093%	$180K	$187K	10x	as long as short
Orderly PERP_XPL_USDC	−0.0011%	4h	0.09587	−0.001%	$30K	$246K	10x	as long as short
dYdX XPL-USDlong	0.0000%	1h	0.09587	long leg	$9K	$600	5x
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.031%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09594	+0.067%	$72K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0038%	8h	0.09575	−0.123%	$12K	$696	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	0.09577	−0.105%	$1.2M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09596	+0.097%	$60.7M	$46.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09596	+0.095%	$253K	$420K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09582	−0.048%	$219K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09584	−0.035%	$43.5M	$97.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09577	−0.105%	$45.7M	$53.5M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09578	−0.095%	$7.8M	$47.8M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09614	+0.281%	$140K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09587	−0.001%	$3.0M	$3.3M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09588	+0.010%	$12.6M	$6.5M	100x	as long as short
KuCoin XPLUSDTMshort	+0.0100%	4h	0.09594	+0.072%	$2.3M	$1.2M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09591	+0.041%	$9.0M	$9.8M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09583	−0.043%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09615	+0.289%	$1.7M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09618	+0.324%	$262K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09630	+0.448%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09590	+0.035%	$126K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09570	−0.178%	$2K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09590	+0.030%	$197	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09578	−0.095%	$132K	$213K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09585	−0.024%	$601K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09585	−0.022%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09637	+0.521%	$195K	$489K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09583	−0.043%	$1.7M	$931K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0808%	1h	0.09718	+1.366%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2726%	1h	0.09622	+0.365%	$546K	$932K	10x	as long as short