Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0130%/8h= −14.3% APRpaid last 24h +0.030%

Price spread now: MEXC against dYdX−0.213%137s7-day average — · you buy dearer than you sell

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

Long on dYdX Short on MEXC

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 against this trade now: funding costs −$4 a day on $10k at the current rate, and MEXC is 0.213% cheaper against dYdX than usual: you would sell low and buy high (−$21 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 137 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	0.09408	0.0070	pay 0.0009% / 1h	3m 22s	$9K	$1K	5x
Short	MEXC XPL_USDT	0.09388	−0.0060	pay 0.0030% / 4h	1h 03m	$12.5M	$6.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.213%Rate

Funding earned: −$27.33
Price spread: −0.213% → 0.000%: −$21.32
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$58.65
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: dYdX: no order-book sample; MEXC: live order book, 3 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 MEXC live order book, 3 min ago	0.53 bp	3.3 bp −$3	7.2 bp −$72	69.7 bp −$6,973	219.9 bp −$110.0K

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 exchanges

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
01 Exchange XPLUSD	−0.0760%	1h	0.09377	−0.330%	$545	$873	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0495%	1h	0.09394	−0.149%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0482% / S +0.0714%	1h	0.09398	−0.107%	$104K	—	100x	as long as short
Bybit XPLUSDT	−0.0362%	4h	0.09389	−0.203%	$44.0M	$54.9M	75x	as long as short
Lighter XPL	−0.0328%	1h	0.09388	−0.213%	$4.3M	$3.1M	10x	as long as short
Orderly PERP_XPL_USDC	−0.0134%	4h	0.09393	−0.160%	$30K	$99K	10x	as long as short
Paradex XPL-USD-PERP	−0.0096%	8h	0.09388	−0.215%	$12K	$696	5x	as long as short
Binance XPLUSDT	−0.0060%	4h	0.09388	−0.213%	$43.2M	$98.8M	75x	as long as short
MEXC XPL_USDTshort	−0.0060%	4h	0.09388	−0.213%	$12.5M	$6.8M	100x
OKX XPL-USDT-SWAP	−0.0012%	4h	0.09393	−0.160%	$7.1M	$47.9M	50x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−19.532%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09400	−0.086%	$71K	—	150x	as long as short
Backpack XPL_USDC_PERP	+0.0029%	1h	0.09399	−0.096%	$184K	$173K	10x	as long as short
Extended XPL-USD	+0.0056%	1h	0.09386	−0.235%	$592K	$1.1M	25x	as long as short
Gate XPL_USDT	+0.0056%	4h	0.09392	−0.171%	$2.8M	$3.3M	75x	as long as short
Aevo XPL-PERP	+0.0064%	1h	0.09391	−0.176%	$28K	$18K	3x	as long as short
dYdX XPL-USDlong	+0.0070%	1h	0.09408	long leg	$9K	$1K	5x
Nado XPL-PERP	+0.0100%	1h	0.09387	−0.218%	$1.2M	$2.3M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09409	+0.015%	$59.2M	$43.0M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09399	−0.097%	$242K	$382K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09400	−0.086%	$209K	$52K	10x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09390	−0.192%	$137K	$5K	10x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09396	−0.128%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09400	−0.086%	$8.8M	$10.2M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09388	−0.213%	—	$7.7M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09387	−0.224%	$1.8M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09395	−0.136%	$251K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09410	+0.021%	$25K	$67K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09390	−0.189%	$37K	$1.3M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09380	−0.298%	$3K	$1.5M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09390	−0.192%	$177	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09385	−0.245%	$132K	$218K	20x	as long as short
BloFin XPL-USDT	+0.0180%	4h	0.09393	−0.160%	$1.7M	$859K	75x	as long as short
Phoenix XPL	+0.0252%	1h	0.09417	+0.095%	$190K	$435K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0712%	1h	0.09455	+0.499%	$63K	$86K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.1358%	1h	0.09420	+0.131%	$554K	$1.0M	10x	as long as short