Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against HTX−0.167%7-day average 0.000% · you buy dearer than you sell

Net, funding: paid 7d − costs−$114as in the Funding arb table

Net, price: spread back to 7d avg − costs−$118as in the Price arb table

costs, in and out, $10k−$1011.014% of the position

Long on HTX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.127%−$13 on $10k

Price spread, last 4 days (all we have)+1.034%+$103 · spread now −0.167%, 7d avg 0.000%

Together, before fees+0.907%+$91 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: BingX is 0.167% cheaper against HTX than usual: you would sell low and buy high, −$17 on $10k if it goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XPL-USDT	0.09558	0.0100	pay 0.0050% / 4h	3h 45m	$132K	$210K	20x
Short	BingX XPL-USDT	0.09542	0.0100	get 0.0050% / 4h	3h 45m	—	$7.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against HTX. 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 HTXbpFee BingXbpOrdersPrice spread, now −0.167%Rate

Funding earned: $0
Price spread: −0.167% → 0.000%: −$16.7
Slippage, 4 orders: −$79.38
Fee HTX: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$118.08
Costs to cover: 1.014%
Break-even: never at this rate

Slippage from HTX: live order book, 51 min ago; BingX: live order book, 7 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 HTX live order book, 51 min ago	18.90 bp	27.3 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 7 min ago	5.76 bp	16.5 bp −$17	26.9 bp −$269	89.8 bp −$8,976	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	−0.1368%	1h	0.09534	−0.251%	$4.3M	$3.1M	10x	as long as short
01 Exchange XPLUSD	−0.0424%	1h	0.09539	−0.199%	$555	$873	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0378%	1h	0.09553	−0.052%	$46K	$18K	25x	as long as short
Bybit XPLUSDT	−0.0239%	4h	0.09542	−0.167%	$45.4M	$54.0M	75x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09557	−0.009%	$106K	—	100x	as long as short
Paradex XPL-USD-PERP	−0.0089%	8h	0.09540	−0.183%	$12K	$696	5x	as long as short
Orderly PERP_XPL_USDC	−0.0026%	4h	0.09549	−0.094%	$30K	$271K	10x	as long as short
OKX XPL-USDT-SWAP	−0.0012%	4h	0.09539	−0.199%	$7.6M	$47.4M	50x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09560	+0.020%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.792%	—	—	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09558	+0.002%	$72K	—	150x	as long as short
Gate XPL_USDT	+0.0086%	4h	0.09544	−0.146%	$2.9M	$3.3M	75x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09553	−0.047%	$1.3M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09560	+0.019%	$60.5M	$46.0M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09554	−0.045%	$252K	$404K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09554	−0.044%	$219K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09542	−0.167%	$43.4M	$97.8M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09542	−0.167%	$12.5M	$6.5M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09543	−0.157%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09555	−0.031%	$9.0M	$9.8M	75x	as long as short
BingX XPL-USDTshort	+0.0100%	4h	0.09542	−0.167%	—	$7.8M	—
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09556	−0.021%	$179K	$180K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09547	−0.116%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09540	−0.186%	$256K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09560	+0.021%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09560	+0.021%	$125K	$1.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09540	−0.188%	$3K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09550	−0.084%	$190	$9K	10x	as long as short
HTX XPL-USDTlong	+0.0100%	4h	0.09558	long leg	$132K	$210K	20x
Bulk XPL-USD	+0.0100%	1h	0.09540	−0.184%	$139K	$0	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09541	−0.177%	$595K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09550	−0.084%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09563	+0.052%	$194K	$494K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09569	+0.115%	$1.7M	$930K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0536%	1h	0.09596	+0.398%	$64K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2703%	1h	0.09595	+0.387%	$544K	$943K	10x	as long as short