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: SunX against KuCoin−0.221%7-day average −0.196% · you buy dearer than you sell

Net, funding: paid 7d − costs−$373as in the Funding arb table

Net, price: spread back to 7d avg − costs−$376as in the Price arb table

costs, in and out, $10k−$3733.733% of the position

Long on KuCoin Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.308%−$31 · spread now −0.221%, 7d avg −0.196%

Together, before fees−0.308%−$31 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: SunX is 0.024% cheaper against KuCoin than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.196%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XPLUSDTM	0.09511	0.0100	pay 0.0050% / 4h	3h 37m	$2.3M	$1.2M	50x
Short	SunX XPL-USDT	0.09490	0.0100	get 0.0050% / 4h	3h 37m	$3K	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.221%Rate

Funding earned: $0
Price spread: −0.221% → −0.196%: −$2.44
Slippage, 4 orders: −$353.28
Fee KuCoin: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$375.72
Costs to cover: 3.733%
Break-even: never at this rate

Slippage from KuCoin: live order book, 9 min ago; SunX: live order book, 8 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, 9 min ago	6.28 bp	27.0 bp −$27	150.5 bp −$1,505	doesn't fit	doesn't fit
Sell SunX live order book, 8 min ago	36.71 bp	153.6 bp −$154	doesn't fit	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
Lighter XPL	−0.1272%	1h	0.09492	−0.200%	$4.3M	$3.1M	10x	as long as short
01 Exchange XPLUSD	−0.0440%	1h	0.09516	+0.053%	$553	$873	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0381%	1h	0.09506	−0.053%	$46K	$18K	25x	as long as short
Bybit XPLUSDT	−0.0329%	4h	0.09493	−0.189%	$45.1M	$54.2M	75x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09514	+0.028%	$105K	—	100x	as long as short
Paradex XPL-USD-PERP	−0.0102%	8h	0.09518	+0.078%	$12K	$696	5x	as long as short
Gate XPL_USDT	−0.0050%	4h	0.09510	−0.011%	$2.9M	$3.3M	75x	as long as short
OKX XPL-USDT-SWAP	−0.0031%	4h	0.09501	−0.105%	$7.6M	$47.3M	50x	as long as short
Backpack XPL_USDC_PERP	−0.0027%	1h	0.09526	+0.158%	$178K	$179K	10x	as long as short
Orderly PERP_XPL_USDC	−0.0025%	4h	0.09503	−0.084%	$30K	$261K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX XPL-USD	0.0000%	1h	0.09524	+0.141%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.400%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09512	+0.007%	$72K	—	150x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09519	+0.084%	$1.3M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09530	+0.200%	$60.3M	$45.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09510	−0.011%	$251K	$402K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09529	+0.187%	$218K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09497	−0.147%	$43.3M	$98.0M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09510	−0.011%	$139K	$0	10x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09515	+0.042%	$12.5M	$6.5M	100x	as long as short
KuCoin XPLUSDTMlong	+0.0100%	4h	0.09511	long leg	$2.3M	$1.2M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09513	+0.021%	$9.0M	$9.9M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09504	−0.074%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09516	+0.052%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09509	−0.022%	$254K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09510	−0.011%	$25K	$73K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09526	+0.158%	$125K	$1.7M	10x	as long as short
SunX XPL-USDTshort	+0.0100%	4h	0.09490	−0.221%	$3K	$1.6M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09500	−0.116%	$192	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09501	−0.105%	$131K	$213K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09499	−0.121%	$588K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09504	−0.078%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09520	+0.095%	$193K	$494K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09506	−0.053%	$1.7M	$928K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0536%	1h	0.09596	+0.894%	$64K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2722%	1h	0.09528	+0.177%	$541K	$956K	10x	as long as short