Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against KuCoin−0.044%7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$99as in the Funding arb table

Net, price: spread back to 7d avg − costs−$99as in the Price arb table

costs, in and out, $10k−$960.962% of the position

Long on KuCoin Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.024%−$2 on $10k

Price spread, last 7 days+0.050%+$5 · spread now −0.044%, 7d avg −0.014%

Together, before fees+0.026%+$3 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: Binance is 0.030% cheaper against KuCoin than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XPLUSDTM	0.09686	0.0100	pay 0.0050% / 4h	2h 01m	$2.3M	$1.3M	50x
Short	Binance XPLUSDT	0.09682	0.0100	get 0.0050% / 4h	2h 01m	$43.9M	$98.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against KuCoin. 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 KuCoinbpFee BinancebpOrdersPrice spread, now −0.044%Rate

Funding earned: $0
Price spread: −0.044% → −0.014%: −$2.97
Slippage, 4 orders: −$74.22
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$99.18
Costs to cover: 0.962%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; Binance: live order book, 11 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 KuCoin live order book, 5 min ago	9.30 bp	38.3 bp −$38	183.5 bp −$1,835	doesn't fit	doesn't fit
Sell Binance live order book, 11 min ago	1.55 bp	9.9 bp −$10	20.9 bp −$209	113.5 bp −$11.3K	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
Deribit XPL_USDC-PERPETUAL	−0.0369%	1h	0.09685	−0.010%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09690	+0.045%	$107K	—	100x	as long as short
01 Exchange XPLUSD	−0.0248%	1h	0.09678	−0.083%	$563	$708	5x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09688	+0.021%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.838%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09690	+0.041%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0007%	4h	0.09683	−0.031%	$29K	$287K	10x	as long as short
Lighter XPL	+0.0056%	1h	0.09680	−0.062%	$4.4M	$3.0M	10x	as long as short
Paradex XPL-USD-PERP	+0.0060%	8h	0.09677	−0.096%	$13K	$696	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09680	−0.062%	$1.2M	$2.2M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid XPL	+0.0100%	1h	0.09704	+0.186%	$61.4M	$46.3M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09693	+0.068%	$255K	$426K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09686	+0.004%	$222K	$46K	10x	as long as short
Binance XPLUSDTshort	+0.0100%	4h	0.09682	−0.044%	$43.9M	$98.4M	75x
Bybit XPLUSDT	+0.0100%	4h	0.09680	−0.062%	$45.9M	$53.7M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09681	−0.052%	$8.0M	$48.8M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09688	+0.021%	$3.1M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09683	−0.031%	$12.8M	$7.0M	100x	as long as short
KuCoin XPLUSDTMlong	+0.0100%	4h	0.09686	long leg	$2.3M	$1.3M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09696	+0.103%	$9.0M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09680	−0.062%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09690	+0.041%	$176K	$189K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09685	−0.012%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09679	−0.067%	$260K	$1.2M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09680	−0.062%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09693	+0.071%	$127K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09660	−0.268%	$3K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09680	−0.062%	$203	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09681	−0.052%	$138K	$187K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09676	−0.103%	$141K	$0	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09681	−0.055%	$609K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09684	−0.024%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09695	+0.093%	$196K	$536K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09681	−0.052%	$1.7M	$943K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0592%	1h	0.09718	+0.330%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2860%	1h	0.09719	+0.345%	$552K	$953K	10x	as long as short