Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Polymarket Perps against KuCoin+0.155%7-day average +0.083% · you sell dearer than you buy

Net, funding: paid 7d − costs−$95as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$900.901% of the position

Long on KuCoin Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.045%−$5 on $10k

Price spread, last 7 days−0.288%−$29 · spread now +0.155%, 7d avg +0.083%

Together, before fees−0.333%−$33 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 0.072% dearer against KuCoin than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.083%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XPLUSDTM	0.09663	0.0100	pay 0.0050% / 4h	2h 04m	$2.3M	$1.3M	50x
Short	Polymarket Perps XPL-USD	0.09678	0.0100	get 0.0013% / 1h	4m 10s	$127K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.155%Rate

Funding earned: $0
Price spread: +0.155% → +0.083%: $7.19
Slippage, 4 orders: −$70.06
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$82.86
Costs to cover: 0.901%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; Polymarket Perps: live order book, 4 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, 2 min ago	9.30 bp	38.3 bp −$38	183.5 bp −$1,835	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 4 min ago	2.58 bp	7.5 bp −$8	8.8 bp −$88	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
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09671	+0.085%	$107K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0267%	1h	0.09668	+0.052%	$46K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0248%	1h	0.09666	+0.031%	$562	$708	5x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09679	+0.161%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.651%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09675	+0.124%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0007%	4h	0.09666	+0.031%	$29K	$292K	10x	as long as short
Lighter XPL	+0.0064%	1h	0.09659	−0.041%	$4.4M	$3.0M	10x	as long as short
Paradex XPL-USD-PERP	+0.0064%	8h	0.09666	+0.030%	$13K	$696	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09666	+0.031%	$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	0.09685	+0.225%	$61.3M	$46.3M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09674	+0.113%	$254K	$426K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09676	+0.131%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09664	+0.010%	$43.8M	$98.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09663	0.000%	$45.8M	$53.7M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09663	0.000%	$8.0M	$48.7M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09661	−0.018%	$141K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09669	+0.062%	$3.1M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09663	0.000%	$12.7M	$7.0M	100x	as long as short
KuCoin XPLUSDTMlong	+0.0100%	4h	0.09663	long leg	$2.3M	$1.3M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09673	+0.103%	$8.9M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09665	+0.021%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09680	+0.176%	$176K	$189K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09685	+0.226%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09679	+0.171%	$260K	$1.2M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09690	+0.279%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USDshort	+0.0100%	1h	0.09678	+0.155%	$127K	$1.8M	10x
SunX XPL-USDT	+0.0100%	4h	0.09650	−0.135%	$3K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09660	−0.031%	$197	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09682	+0.197%	$138K	$187K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09661	−0.021%	$609K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09664	+0.011%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09695	+0.331%	$196K	$536K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09677	+0.145%	$1.7M	$943K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0592%	1h	0.09718	+0.569%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2866%	1h	0.09701	+0.391%	$551K	$953K	10x	as long as short