Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.001%

Price spread now: HTX against Extended−0.229%7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$90as in the Funding arb table

Net, price: spread back to 7d avg − costs−$134as in the Price arb table

costs, in and out, $10k−$1101.097% of the position

Long on Extended Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.199%+$20 on $10k

Price spread, last 3 days (all we have)+0.088%+$9 · spread now −0.229%, 7d avg +0.012%

Together, before fees+0.287%+ Points / potential airdropExtended: Active · farm board+$29 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: HTX is 0.242% cheaper against Extended than usual: you would sell low and buy high, −$24 on $10k if it goes back to its 7-day average of +0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XPL-USD	0.09666	0.0104	pay 0.0013% / 1h	15m 40s	$655K	$1.1M	25x
Short	HTX XPL-USDT	0.09644	0.0100	get 0.0050% / 4h	2h 15m	$142K	$250K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.229%Rate

Funding earned: −$0.84
Price spread: −0.229% → +0.012%: −$24.19
Slippage, 4 orders: −$92.66
Fee Extended: 2.5 bp × 2 orders: −$5
Fee HTX: 6 bp × 2 orders: −$12
Net: −$134.69
Costs to cover: 1.097%
Break-even: never at this rate

Slippage from Extended: live order book, 3 min ago; HTX: live order book, 51 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, 3 min ago	2.07 bp	9.0 bp −$9	22.6 bp −$226	doesn't fit	doesn't fit
Sell HTX live order book, 51 min ago	13.68 bp	73.7 bp −$74	doesn't fit	doesn't fit	doesn't fit

XPL on 35 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
Deribit XPL_USDC-PERPETUAL	−0.0266%	1h	0.09676	+0.102%	$46K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0240%	1h	0.09665	−0.012%	$562	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0202% / S +0.0564%	1h	0.09679	+0.136%	$111K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0191%	1h	0.09676	+0.102%	$179K	$244K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09677	+0.113%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−21.681%	—	—	—	as long as short
Orderly PERP_XPL_USDC	+0.0001%	4h	0.09674	+0.081%	$29K	$335K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09680	+0.141%	$60K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0056%	4h	0.09669	+0.029%	$8.4M	$54.2M	50x	as long as short
Paradex XPL-USD-PERP	+0.0063%	8h	0.09670	+0.038%	$13K	$2K	5x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPL	+0.0096%	1h	0.09666	−0.002%	$4.4M	$4.2M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09674	+0.086%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09685	+0.194%	$61.8M	$47.8M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09674	+0.083%	$246K	$512K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09679	+0.133%	$220K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09669	+0.031%	$43.9M	$109.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09667	+0.008%	$46.6M	$56.9M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09660	−0.064%	$141K	$7K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09671	+0.050%	$3.0M	$3.9M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09672	+0.060%	$12.7M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09672	+0.060%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09674	+0.081%	$8.6M	$11.2M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09670	+0.040%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09668	+0.016%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09675	+0.091%	$257K	$891K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09680	+0.143%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09686	+0.204%	$132K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09660	−0.064%	$2K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09670	+0.040%	$194	$11K	10x	as long as short
HTX XPL-USDTshort	+0.0100%	4h	0.09644	−0.229%	$142K	$250K	20x
Extended XPL-USDlong	+0.0104%	1h	0.09666	long leg	$655K	$1.1M	25x
Aevo XPL-PERP	+0.0104%	1h	0.09673	+0.067%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0328%	1h	0.09693	+0.277%	$196K	$657K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0496%	1h	0.09766	+1.033%	$78K	$95K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4404%	1h	0.09712	+0.470%	$551K	$1.0M	10x	as long as short