Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0236%/8h= +25.8% APRpaid last 24h +0.076%

Price spread now: BloFin against Extended+0.201%74s7-day average +0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs+$16as 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−$340.335% of the position

Long on Extended Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.491%+$49 on $10k

Price spread, last 3 days (all we have)−0.309%−$31 · spread now +0.201%, 7d avg +0.020%

Together, before fees+0.182%+ Points / potential airdropExtended: Active · farm board+$18 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and BloFin is 0.181% dearer against Extended than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of +0.020%. The two prices were read 74 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	Extended XPL-USD	0.09703	0.0104	pay 0.0013% / 1h	7m 55s	$655K	$1.1M	25x
Short	BloFin XPL-USDT	0.09722	0.0340	get 0.0170% / 4h	1h 07m	$1.7M	$1.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.201%Rate

Funding earned: $49.56
Price spread: +0.201% → +0.020%: $18.07
Slippage, 4 orders: −$16.55
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BloFin: 6 bp × 2 orders: −$12
Net: $34.09
Costs to cover: 0.335%
Break-even: 2.2 days

Slippage from Extended: live order book, just now; BloFin: live order book, 5 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, just now	2.57 bp	5.2 bp −$5	19.9 bp −$199	doesn't fit	doesn't fit
Sell BloFin live order book, 5 min ago	1.03 bp	10.4 bp −$10	17.4 bp −$174	65.3 bp −$6,527	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	−0.0277%	1h	0.09708	+0.057%	$176K	$282K	10x	as long as short
01 Exchange XPLUSD	−0.0208%	1h	0.09717	+0.149%	$565	$708	5x	as long as short
Lighter XPL	−0.0192%	1h	0.09693	−0.098%	$4.4M	$4.1M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0116% / S +0.0510%	1h	0.09713	+0.104%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09721	+0.187%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.973%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09710	+0.077%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09712	+0.099%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0071%	4h	0.09706	+0.036%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0086%	8h	0.09724	+0.217%	$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	0.09715	+0.129%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09720	+0.175%	$62.9M	$47.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09709	+0.069%	$251K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09729	+0.276%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09707	+0.045%	$43.9M	$107.0M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09705	+0.026%	$47.8M	$54.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09702	−0.005%	$8.9M	$53.8M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09714	+0.121%	$142K	$9K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09709	+0.067%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09703	+0.005%	$12.5M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09700	−0.026%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09711	+0.087%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09705	+0.026%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09707	+0.048%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09717	+0.148%	$259K	$787K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09720	+0.180%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09724	+0.227%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09710	+0.077%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09700	−0.026%	$446	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09719	+0.170%	$138K	$246K	20x	as long as short
Extended XPL-USDlong	+0.0104%	1h	0.09703	long leg	$655K	$1.1M	25x
Aevo XPL-PERP	+0.0104%	1h	0.09711	+0.084%	$38K	$5K	3x	as long as short
BloFin XPL-USDTshort	+0.0340%	4h	0.09722	+0.201%	$1.7M	$1.1M	75x
Phoenix XPL	+0.0412%	1h	0.09727	+0.252%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09760	+0.593%	$72K	$104K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4595%	1h	0.09769	+0.683%	$561K	$996K	10x	as long as short