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: KuCoin against Extended+0.172%7-day average +0.078% · you sell dearer than you buy

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$850.853% of the position

Long on Extended Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.049%+$5 on $10k

Price spread, last 4 days (all we have)+0.114%+$11 · spread now +0.172%, 7d avg +0.078%

Together, before fees+0.164%+ Points / potential airdropExtended: Active · farm board+$16 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: KuCoin is 0.094% dearer against Extended than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.078%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XPL-USD	0.09661	0.0104	pay 0.0013% / 1h	17m 59s	$655K	$1.1M	25x
Short	KuCoin XPLUSDTM	0.09678	0.0100	get 0.0050% / 4h	2h 17m	$2.3M	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.172%Rate

Funding earned: −$0.84
Price spread: +0.172% → +0.078%: $9.36
Slippage, 4 orders: −$68.35
Fee Extended: 2.5 bp × 2 orders: −$5
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$76.83
Costs to cover: 0.853%
Break-even: never at this rate

Slippage from Extended: live order book, just now; KuCoin: live order book, 4 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	2.07 bp	9.0 bp −$9	22.6 bp −$226	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	10.35 bp	33.4 bp −$33	144.5 bp −$1,445	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
01 Exchange XPLUSD	−0.0224%	1h	0.09662	+0.006%	$562	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0201% / S +0.0564%	1h	0.09682	+0.214%	$111K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0176%	1h	0.09675	+0.141%	$179K	$244K	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0163%	1h	0.09677	+0.161%	$46K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09675	+0.141%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.641%	—	—	—	as long as short
Orderly PERP_XPL_USDC	+0.0001%	4h	0.09676	+0.151%	$29K	$335K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09683	+0.223%	$60K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0058%	4h	0.09664	+0.027%	$8.4M	$54.6M	50x	as long as short
Paradex XPL-USD-PERP	+0.0065%	8h	0.09678	+0.167%	$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	0.09668	+0.068%	$4.4M	$4.2M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09667	+0.058%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09678	+0.169%	$61.7M	$47.8M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09683	+0.225%	$246K	$513K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09686	+0.252%	$220K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09665	+0.035%	$43.9M	$109.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09664	+0.027%	$46.5M	$57.5M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09675	+0.144%	$141K	$7K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09669	+0.079%	$3.0M	$3.9M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09668	+0.068%	$12.7M	$7.9M	100x	as long as short
KuCoin XPLUSDTMshort	+0.0100%	4h	0.09678	+0.172%	$2.3M	$1.5M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09665	+0.037%	$8.6M	$11.2M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09663	+0.016%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09664	+0.024%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09673	+0.117%	$264K	$877K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09670	+0.089%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09683	+0.220%	$130K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09660	−0.015%	$3K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09680	+0.192%	$194	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09678	+0.172%	$143K	$258K	20x	as long as short
Extended XPL-USDlong	+0.0104%	1h	0.09661	long leg	$655K	$1.1M	25x
Aevo XPL-PERP	+0.0104%	1h	0.09677	+0.164%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0328%	1h	0.09686	+0.254%	$196K	$657K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0496%	1h	0.09766	+1.083%	$78K	$95K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4402%	1h	0.09717	+0.576%	$551K	$1.0M	10x	as long as short