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: HTX against KuCoin−0.128%7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$145as in the Funding arb table

Net, price: spread back to 7d avg − costs−$166as in the Price arb table

costs, in and out, $10k−$1571.573% of the position

Long on KuCoin Short on HTX

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)−0.094%−$9 · spread now −0.128%, 7d avg −0.039%

Together, before fees+0.032%+$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: HTX is 0.089% cheaper against KuCoin than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.039%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XPLUSDTM	0.09401	0.0100	pay 0.0050% / 4h	59m 00s	$2.3M	$1.5M	50x
Short	HTX XPL-USDT	0.09389	0.0100	get 0.0050% / 4h	59m 00s	$132K	$218K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.128%Rate

Funding earned: $0
Price spread: −0.128% → −0.039%: −$8.86
Slippage, 4 orders: −$133.33
Fee KuCoin: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$166.19
Costs to cover: 1.573%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; HTX: live order book, 45 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, 6 min ago	9.57 bp	21.5 bp −$22	73.2 bp −$732	doesn't fit	doesn't fit
Sell HTX live order book, 45 min ago	6.37 bp	79.3 bp −$79	doesn't fit	doesn't fit	doesn't fit

XPL on 36 exchanges

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	−0.0624%	1h	0.09383	−0.191%	$546	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0497% / S +0.0723%	1h	0.09400	−0.013%	$104K	—	100x	as long as short
Bybit XPLUSDT	−0.0353%	4h	0.09391	−0.106%	$44.0M	$54.6M	75x	as long as short
Lighter XPL	−0.0288%	1h	0.09385	−0.170%	$4.3M	$2.5M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0282%	1h	0.09395	−0.064%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	−0.0137%	4h	0.09390	−0.117%	$30K	$89K	10x	as long as short
Paradex XPL-USD-PERP	−0.0097%	8h	0.09388	−0.142%	$12K	$696	5x	as long as short
Binance XPLUSDT	−0.0062%	4h	0.09394	−0.080%	$43.2M	$98.6M	75x	as long as short
MEXC XPL_USDT	−0.0060%	4h	0.09393	−0.085%	$12.5M	$6.5M	100x	as long as short
OKX XPL-USDT-SWAP	−0.0013%	4h	0.09392	−0.096%	$7.2M	$47.6M	50x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−19.469%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09400	−0.014%	$71K	—	150x	as long as short
Gate XPL_USDT	+0.0052%	4h	0.09393	−0.085%	$2.8M	$2.7M	75x	as long as short
dYdX XPL-USD	+0.0063%	1h	0.09398	−0.030%	$9K	$1K	5x	as long as short
Aevo XPL-PERP	+0.0064%	1h	0.09391	−0.105%	$28K	$18K	3x	as long as short
Extended XPL-USD	+0.0072%	1h	0.09388	−0.141%	$592K	$1.1M	25x	as long as short
Polymarket Perps XPL-USD	+0.0092%	1h	0.09394	−0.079%	$37K	$1.3M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09393	−0.085%	$1.2M	$2.3M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09410	+0.098%	$59.2M	$43.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09399	−0.021%	$242K	$382K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09400	−0.015%	$209K	$52K	10x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09390	−0.117%	$137K	$5K	10x	as long as short
KuCoin XPLUSDTMlong	+0.0100%	4h	0.09401	long leg	$2.3M	$1.5M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09403	+0.021%	$8.8M	$10.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09391	−0.106%	—	$7.7M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09397	−0.043%	$181K	$174K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09386	−0.159%	$1.8M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09390	−0.117%	$251K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09400	−0.011%	$24K	$67K	50x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09380	−0.223%	$3K	$1.5M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09390	−0.117%	$178	$9K	10x	as long as short
HTX XPL-USDTshort	+0.0100%	4h	0.09389	−0.128%	$132K	$218K	20x
BloFin XPL-USDT	+0.0178%	4h	0.09392	−0.096%	$1.7M	$857K	75x	as long as short
Phoenix XPL	+0.0252%	1h	0.09405	+0.043%	$190K	$402K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0608%	1h	0.09455	+0.574%	$63K	$86K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.1193%	1h	0.09419	+0.188%	$554K	$993K	10x	as long as short