Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.002%

Price spread now: Binance against Extended+0.052%7-day average +0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$360.358% of the position

Long on Extended Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.023%+$2 on $10k

Price spread, last 4 days (all we have)+0.084%+$8 · spread now +0.052%, 7d avg +0.043%

Together, before fees+0.107%+ Points / potential airdropExtended: Active · farm board+$11 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XPL-USD	0.09825	0.0104	pay 0.0013% / 1h	36m 28s	$664K	$1.1M	25x
Short	Binance XPLUSDT	0.09830	0.0100	get 0.0050% / 4h	3h 36m	$44.9M	$108.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Extended. 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 ExtendedbpFee BinancebpOrdersPrice spread, now +0.052%Rate

Funding earned: −$0.84
Price spread: +0.052% → +0.043%: $0.88
Slippage, 4 orders: −$20.82
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Binance: 5 bp × 2 orders: −$10
Net: −$35.78
Costs to cover: 0.358%
Break-even: never at this rate

Slippage from Extended: live order book, 2 min ago; Binance: live order book, 6 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 Extended live order book, 2 min ago	1.53 bp	6.0 bp −$6	23.3 bp −$233	doesn't fit	doesn't fit
Sell Binance live order book, 6 min ago	0.51 bp	10.6 bp −$11	23.7 bp −$237	115.2 bp −$11.5K	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
Backpack XPL_USDC_PERP	−0.0192%	1h	0.09811	−0.142%	$181K	$282K	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0161% / S +0.0539%	1h	0.09831	+0.062%	$113K	—	100x	as long as short
01 Exchange XPLUSD	−0.0152%	1h	0.09831	+0.062%	$572	$708	5x	as long as short
Lighter XPL	−0.0144%	1h	0.09810	−0.152%	$4.4M	$4.2M	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09812	−0.132%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.947%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09807	−0.183%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09831	+0.057%	$77K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0030%	4h	0.09827	+0.021%	$30K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0040%	8h	0.09825	+0.002%	$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	0.09823	−0.015%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09849	+0.241%	$63.6M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09831	+0.059%	$254K	$533K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09822	−0.033%	$224K	$46K	10x	as long as short
Binance XPLUSDTshort	+0.0100%	4h	0.09830	+0.052%	$44.9M	$108.6M	75x
Bybit XPLUSDT	+0.0100%	4h	0.09828	+0.031%	$47.6M	$55.7M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09826	+0.011%	$8.7M	$55.5M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09765	−0.608%	$142K	$2K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09827	+0.021%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09830	+0.052%	$12.9M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09824	−0.010%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09830	+0.052%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09827	+0.021%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09780	−0.458%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09768	−0.582%	$258K	$840K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09770	−0.559%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09839	+0.146%	$132K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09770	−0.559%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09800	−0.254%	$199	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09790	−0.356%	$142K	$242K	20x	as long as short
Extended XPL-USDlong	+0.0104%	1h	0.09825	long leg	$664K	$1.1M	25x
Aevo XPL-PERP	+0.0104%	1h	0.09805	−0.199%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09791	−0.345%	$198K	$655K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09802	−0.233%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09824	−0.010%	$73K	$95K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5050%	1h	0.09852	+0.272%	$571K	$1.0M	10x	as long as short