Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.002%

Price spread now: Extended against KuCoin−0.078%7-day average −0.080% · you buy dearer than you sell

Net, funding: paid 7d − costs−$84as in the Funding arb table

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

costs, in and out, $10k−$790.788% of the position

Long on KuCoin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.052%−$5 on $10k

Price spread, last 4 days (all we have)−0.290%−$29 · spread now −0.078%, 7d avg −0.080%

Together, before fees−0.342%+ Points / potential airdropExtended: Active · farm board−$34 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XPLUSDTM	0.09777	0.0100	pay 0.0050% / 4h	3h 01m	$2.4M	$1.5M	50x
Short	Extended XPL-USD	0.09769	0.0104	get 0.0013% / 1h	1m 27s	$666K	$1.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.078%Rate

Funding earned: $0.84
Price spread: −0.078% → −0.080%: $0.18
Slippage, 4 orders: −$61.76
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$77.74
Costs to cover: 0.788%
Break-even: 654.8 days

Slippage from KuCoin: live order book, 5 min ago; Extended: live order book, 2 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	10.63 bp	30.5 bp −$31	147.0 bp −$1,470	doesn't fit	doesn't fit
Sell Extended live order book, 2 min ago	1.02 bp	10.0 bp −$10	19.6 bp −$196	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
Deribit XPL_USDC-PERPETUAL	−0.0363%	1h	0.09789	+0.123%	$47K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0200%	1h	0.09772	−0.051%	$568	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0178% / S +0.0550%	1h	0.09768	−0.088%	$113K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09788	+0.115%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.567%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09769	−0.083%	$59K	—	150x	as long as short
Lighter XPL	+0.0008%	1h	0.09774	−0.031%	$4.4M	$4.2M	10x	as long as short
Orderly PERP_XPL_USDC	+0.0014%	4h	0.09756	−0.215%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0050%	8h	0.09768	−0.088%	$13K	$2K	5x	as long as short
OKX XPL-USDT-SWAP	+0.0059%	4h	0.09756	−0.215%	$8.6M	$55.3M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XPL-PERP	+0.0100%	1h	0.09775	−0.018%	$1.3M	$2.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09776	−0.011%	$257K	$539K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09784	+0.075%	$223K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09765	−0.127%	$44.7M	$108.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09757	−0.205%	$47.5M	$56.2M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09909	+1.351%	$144K	$2K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09776	−0.010%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09768	−0.092%	$13.0M	$7.8M	100x	as long as short
KuCoin XPLUSDTMlong	+0.0100%	4h	0.09777	long leg	$2.4M	$1.5M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09774	−0.031%	$8.8M	$11.2M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09762	−0.153%	—	$8.0M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09783	+0.061%	$184K	$237K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09881	+1.060%	$1.8M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09890	+1.153%	$262K	$844K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09820	+0.440%	$25K	$89K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09778	+0.008%	$131K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09760	−0.174%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09780	+0.031%	$492	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09895	+1.207%	$143K	$243K	20x	as long as short
Extended XPL-USDshort	+0.0104%	1h	0.09769	−0.078%	$666K	$1.1M	25x
Aevo XPL-PERP	+0.0104%	1h	0.09785	+0.087%	$29K	$18K	3x	as long as short
Hyperliquid XPL	+0.0146%	1h	0.09786	+0.088%	$63.5M	$47.1M	10x	as long as short
Phoenix XPL	+0.0163%	1h	0.09897	+1.227%	$200K	$655K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09821	+0.450%	$1.8M	$1.1M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09980	+2.076%	$74K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5059%	1h	0.09835	+0.589%	$569K	$1.0M	10x	as long as short