Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Polymarket Perps against HTX+0.175%7-day average +0.100% · you sell dearer than you buy

Net, funding: paid 7d − costs−$104as in the Funding arb table

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$870.866% of the position

Long on HTX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.171%−$17 on $10k

Price spread, last 4 days (all we have)+0.782%+$78 · spread now +0.175%, 7d avg +0.100%

Together, before fees+0.610%+$61 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: Polymarket Perps is 0.075% dearer against HTX than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.100%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XPL-USDT	0.09501	0.0100	pay 0.0050% / 4h	3h 37m	$131K	$213K	20x
Short	Polymarket Perps XPL-USD	0.09518	0.0100	get 0.0013% / 1h	37m 58s	$125K	$1.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.175%Rate

Funding earned: $0
Price spread: +0.175% → +0.100%: $7.49
Slippage, 4 orders: −$66.62
Fee HTX: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$79.13
Costs to cover: 0.866%
Break-even: never at this rate

Slippage from HTX: live order book, 58 min ago; Polymarket Perps: live order book, 26 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, 58 min ago	18.90 bp	27.3 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 26 min ago	2.56 bp	8.8 bp −$9	9.1 bp −$91	doesn't fit	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	−0.1296%	1h	0.09504	+0.032%	$4.3M	$3.1M	10x	as long as short
01 Exchange XPLUSD	−0.0440%	1h	0.09510	+0.095%	$553	$873	5x	as long as short
Bybit XPLUSDT	−0.0347%	4h	0.09521	+0.211%	$45.2M	$54.1M	75x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09519	+0.194%	$105K	—	100x	as long as short
Paradex XPL-USD-PERP	−0.0104%	8h	0.09508	+0.075%	$12K	$696	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0065%	1h	0.09520	+0.200%	$46K	$18K	25x	as long as short
Gate XPL_USDT	−0.0062%	4h	0.09514	+0.137%	$2.9M	$3.3M	75x	as long as short
OKX XPL-USDT-SWAP	−0.0029%	4h	0.09520	+0.200%	$7.6M	$47.5M	50x	as long as short
Backpack XPL_USDC_PERP	−0.0027%	1h	0.09526	+0.263%	$178K	$179K	10x	as long as short
Orderly PERP_XPL_USDC	−0.0025%	4h	0.09513	+0.126%	$30K	$261K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX XPL-USD	0.0000%	1h	0.09515	+0.151%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.317%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09519	+0.189%	$72K	—	150x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09511	+0.111%	$1.3M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09534	+0.350%	$60.3M	$45.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09529	+0.290%	$252K	$402K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09518	+0.179%	$218K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09522	+0.225%	$43.4M	$98.0M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09510	+0.095%	$139K	$0	10x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09517	+0.168%	$12.5M	$6.5M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09512	+0.116%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09531	+0.316%	$9.0M	$9.9M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09521	+0.211%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09516	+0.157%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09520	+0.200%	$255K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09520	+0.200%	$25K	$73K	50x	as long as short
Polymarket Perps XPL-USDshort	+0.0100%	1h	0.09518	+0.175%	$125K	$1.7M	10x
SunX XPL-USDT	+0.0100%	4h	0.09500	−0.011%	$3K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09510	+0.095%	$192	$9K	10x	as long as short
HTX XPL-USDTlong	+0.0100%	4h	0.09501	long leg	$131K	$213K	20x
Extended XPL-USD	+0.0104%	1h	0.09519	+0.190%	$588K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09515	+0.147%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09548	+0.495%	$193K	$494K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09513	+0.126%	$1.7M	$922K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0536%	1h	0.09596	+1.000%	$64K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2719%	1h	0.09538	+0.385%	$541K	$954K	10x	as long as short