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: OKX against KuCoin+0.073%7-day average −0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$98as in the Funding arb table

Net, price: spread back to 7d avg − costs−$85as in the Price arb table

costs, in and out, $10k−$930.928% of the position

Long on KuCoin Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.053%−$5 on $10k

Price spread, last 7 days−0.051%−$5 · spread now +0.073%, 7d avg −0.005%

Together, before fees−0.104%−$10 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: OKX is 0.078% dearer against KuCoin than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XPLUSDTM	0.09602	0.0100	pay 0.0050% / 4h	1h 51m	$2.3M	$1.3M	50x
Short	OKX XPL-USDT-SWAP	0.09609	0.0100	get 0.0050% / 4h	1h 51m	$8.0M	$48.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.073%Rate

Funding earned: $0
Price spread: +0.073% → −0.005%: $7.76
Slippage, 4 orders: −$70.8
Fee KuCoin: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$85.04
Costs to cover: 0.928%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; OKX: 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	7.25 bp	38.0 bp −$38	147.7 bp −$1,477	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.52 bp	13.4 bp −$13	36.0 bp −$360	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
01 Exchange XPLUSD	−0.0464%	1h	0.09602	0.000%	$558	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0374%	1h	0.09616	+0.146%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09619	+0.172%	$106K	—	100x	as long as short
Lighter XPL	−0.0304%	1h	0.09607	+0.052%	$4.3M	$3.1M	10x	as long as short
Backpack XPL_USDC_PERP	−0.0041%	1h	0.09615	+0.135%	$177K	$190K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09628	+0.275%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.153%	—	—	—	as long as short
Orderly PERP_XPL_USDC	+0.0004%	4h	0.09613	+0.115%	$30K	$280K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09619	+0.174%	$73K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0052%	8h	0.09618	+0.168%	$13K	$696	5x	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	0.09610	+0.083%	$1.2M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09623	+0.219%	$60.8M	$46.3M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09616	+0.144%	$253K	$415K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09628	+0.270%	$220K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09605	+0.033%	$43.5M	$97.5M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09610	+0.083%	$45.5M	$53.5M	75x	as long as short
OKX XPL-USDT-SWAPshort	+0.0100%	4h	0.09609	+0.073%	$8.0M	$48.1M	50x
Bulk XPL-USD	+0.0100%	1h	0.09620	+0.187%	$140K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09615	+0.135%	$3.0M	$3.3M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09608	+0.062%	$12.6M	$6.8M	100x	as long as short
KuCoin XPLUSDTMlong	+0.0100%	4h	0.09602	long leg	$2.3M	$1.3M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09618	+0.167%	$8.9M	$9.6M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09606	+0.042%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09661	+0.612%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09645	+0.448%	$259K	$1.2M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09680	+0.812%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09620	+0.182%	$126K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09600	−0.021%	$2K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09620	+0.187%	$202	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09603	+0.010%	$133K	$214K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09606	+0.041%	$606K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09613	+0.112%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09693	+0.948%	$196K	$506K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09630	+0.292%	$1.7M	$940K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.09718	+1.208%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2836%	1h	0.09653	+0.534%	$549K	$953K	10x	as long as short