Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h −0.001%

Price spread now: BingX against Extended+0.042%7-day average +0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$440.444% of the position

Long on Extended Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.026%+$3 on $10k

Price spread, last 7 days−0.029%−$3 · spread now +0.042%, 7d avg +0.045%

Together, before fees−0.004%+ Points / potential airdropExtended: Active · farm board$0 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.045%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XPL-USD	0.09512	0.0056	pay 0.0007% / 1h	22m 15s	$598K	$1.2M	25x
Short	BingX XPL-USDT	0.09516	0.0100	get 0.0050% / 4h	22m 15s	—	$7.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.042%Rate

Funding earned: $9.24
Price spread: +0.042% → +0.045%: −$0.27
Slippage, 4 orders: −$29.37
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BingX: 5 bp × 2 orders: −$10
Net: −$35.4
Costs to cover: 0.444%
Break-even: 33.8 days

Slippage from Extended: live order book, 1 min ago; BingX: 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, 1 min ago	1.05 bp	4.9 bp −$5	18.8 bp −$188	doesn't fit	doesn't fit
Sell BingX live order book, 6 min ago	5.76 bp	14.5 bp −$15	25.6 bp −$256	88.8 bp −$8,885	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
Lighter XPL	−0.1456%	1h	0.09502	−0.105%	$4.3M	$3.2M	10x	as long as short
01 Exchange XPLUSD	−0.0512%	1h	0.09511	−0.010%	$553	$873	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0275%	1h	0.09520	+0.084%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09524	+0.125%	$105K	—	100x	as long as short
Paradex XPL-USD-PERP	−0.0040%	8h	0.09522	+0.110%	$12K	$696	5x	as long as short
Orderly PERP_XPL_USDC	−0.0026%	4h	0.09515	+0.032%	$30K	$290K	10x	as long as short
Bybit XPLUSDT	−0.0019%	4h	0.09514	+0.021%	$45.3M	$54.0M	75x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09541	+0.306%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.408%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09527	+0.153%	$72K	—	150x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended XPL-USDlong	+0.0056%	1h	0.09512	long leg	$598K	$1.2M	25x
OKX XPL-USDT-SWAP	+0.0064%	4h	0.09514	+0.021%	$7.6M	$47.6M	50x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09519	+0.074%	$1.2M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09527	+0.163%	$60.2M	$46.0M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09526	+0.148%	$252K	$419K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09537	+0.262%	$218K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09514	+0.021%	$43.0M	$97.9M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09548	+0.381%	$139K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09518	+0.063%	$2.9M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09514	+0.021%	$12.4M	$6.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09515	+0.032%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09525	+0.137%	$9.0M	$9.9M	75x	as long as short
BingX XPL-USDTshort	+0.0100%	4h	0.09516	+0.042%	—	$7.8M	—
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09525	+0.137%	$178K	$189K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09516	+0.040%	$1.7M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09517	+0.058%	$253K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09520	+0.084%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09524	+0.131%	$125K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09510	−0.021%	$2K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09510	−0.021%	$197	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09537	+0.263%	$132K	$212K	20x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09517	+0.053%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0249%	1h	0.09543	+0.326%	$193K	$495K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09510	−0.021%	$1.7M	$920K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0808%	1h	0.09620	+1.136%	$65K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2726%	1h	0.09624	+1.177%	$543K	$936K	10x	as long as short