Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0572%/8h= +62.6% APRpaid last 24h +0.202%

Price spread now: Coinbase International against HTX+0.290%7-day average +0.736% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on HTX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.154%−$15 on $10k

Price spread, last 3 days (all we have)+0.504%+$50 · spread now +0.290%, 7d avg +0.736%

Together, before fees+0.351%+$35 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.446% cheaper against HTX than usual: you would sell low and buy high (spread +0.290% now, against its 7-day average of +0.736%). If the spread goes back, that is −$45 on $10k: about 2.6 days of funding at the current rate (+$17 a day). Mind the row above: over the last 7 days funding on this pair cost −0.154%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.154% in total (about -8.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XPL-USDT	0.09642	0.0100	pay 0.0050% / 4h	1h 11m	$145K	$263K	20x
Short	Coinbase International XPL-PERP-INTX	0.09670	0.0672	get 0.0084% / 1h	11m 09s	$75K	$93K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against HTX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Coinbase InternationalbpOrdersPrice spread, now +0.290%Rate

Funding earned: $120.12
Price spread: +0.290% → +0.736%: −$44.56
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $53.56
Costs to cover: 0.220%
Break-even: 3.9 days

Slippage unknown: HTX: live order book, 50 min ago; Coinbase International: no order-book sample. Net counts fees only.

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, 50 min ago	14.47 bp	58.2 bp −$58	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
01 Exchange XPLUSD	−0.0392%	1h	0.09619	−0.239%	$559	$708	5x	as long as short
Backpack XPL_USDC_PERP	−0.0268%	1h	0.09646	+0.041%	$179K	$231K	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0268% / S +0.0588%	1h	0.09638	−0.036%	$106K	—	100x	as long as short
Bybit XPLUSDT	−0.0121%	4h	0.09634	−0.083%	$45.6M	$56.7M	75x	as long as short
Orderly PERP_XPL_USDC	−0.0001%	4h	0.09639	−0.031%	$29K	$335K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09625	−0.181%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.483%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09645	+0.031%	$46K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09640	−0.018%	$73K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0060%	4h	0.09643	+0.010%	$8.3M	$52.6M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPL-USD-PERP	+0.0061%	8h	0.09622	−0.204%	$13K	$2K	5x	as long as short
Lighter XPL	+0.0096%	1h	0.09634	−0.083%	$4.4M	$4.2M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09620	−0.223%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09656	+0.147%	$60.6M	$48.3M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09644	+0.025%	$245K	$497K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09630	−0.124%	$220K	$48K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09642	0.000%	$43.7M	$108.3M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09643	+0.015%	$140K	$5K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09640	−0.021%	$3.0M	$3.8M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09640	−0.021%	$12.5M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09639	−0.031%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09647	+0.052%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09640	−0.021%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09618	−0.253%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09611	−0.320%	$253K	$930K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09620	−0.228%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09636	−0.059%	$128K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09610	−0.332%	$2K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09640	−0.021%	$2K	$11K	10x	as long as short
HTX XPL-USDTlong	+0.0100%	4h	0.09642	long leg	$145K	$263K	20x
Extended XPL-USD	+0.0104%	1h	0.09639	−0.031%	$636K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09641	−0.015%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09632	−0.104%	$195K	$629K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09626	−0.166%	$1.7M	$1.0M	75x	as long as short
Coinbase International XPL-PERP-INTXshort	+0.0672%	1h	0.09670	+0.290%	$75K	$93K	50x
Kraken Futures PF_XPLUSD	+0.3553%	1h	0.09675	+0.345%	$549K	$1.0M	10x	as long as short