Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against MEXC−0.021%7-day average −0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$380.381% of the position

Long on MEXC Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.023%+$2 on $10k

Price spread, last 7 days+0.035%+$4 · spread now −0.021%, 7d avg −0.005%

Together, before fees+0.059%+$6 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XPL_USDT	0.09586	0.0100	pay 0.0050% / 4h	1h 54m	$12.4M	$7.9M	100x
Short	BingX XPL-USDT	0.09584	0.0100	get 0.0050% / 4h	1h 54m	—	$8.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against MEXC. 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 MEXCbpFee BingXbpOrdersPrice spread, now −0.021%Rate

Funding earned: $0
Price spread: −0.021% → −0.005%: −$1.55
Slippage, 4 orders: −$28.09
Fee MEXC: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$39.64
Costs to cover: 0.381%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; BingX: live order book, 14 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 MEXC live order book, 4 min ago	0.52 bp	4.5 bp −$5	10.7 bp −$107	92.3 bp −$9,228	239.8 bp −$119.9K
Sell BingX live order book, 14 min ago	5.69 bp	16.1 bp −$16	27.0 bp −$270	85.6 bp −$8,559	doesn't fit

XPL on 35 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
Backpack XPL_USDC_PERP	−0.0645%	1h	0.09617	+0.323%	$178K	$241K	10x	as long as short
01 Exchange XPLUSD	−0.0376%	1h	0.09577	−0.094%	$557	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0375%	1h	0.09591	+0.052%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0213% / S +0.0572%	1h	0.09587	+0.013%	$110K	—	100x	as long as short
Lighter XPL	−0.0088%	1h	0.09601	+0.156%	$4.3M	$4.2M	10x	as long as short
Orderly PERP_XPL_USDC	−0.0003%	4h	0.09590	+0.042%	$29K	$335K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09613	+0.277%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.025%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09589	+0.033%	$74K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0035%	4h	0.09592	+0.063%	$8.3M	$52.9M	50x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPL-USD-PERP	+0.0042%	8h	0.09600	+0.146%	$12K	$2K	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09583	−0.029%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09590	+0.040%	$60.9M	$47.5M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09591	+0.056%	$244K	$499K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09612	+0.273%	$219K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09585	−0.010%	$43.5M	$107.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09592	+0.063%	$46.0M	$56.0M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09640	+0.563%	$140K	$7K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09582	−0.042%	$3.0M	$3.7M	75x	as long as short
MEXC XPL_USDTlong	+0.0100%	4h	0.09586	long leg	$12.4M	$7.9M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09574	−0.125%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09592	+0.063%	$8.5M	$11.1M	75x	as long as short
BingX XPL-USDTshort	+0.0100%	4h	0.09584	−0.021%	—	$8.0M	—
Variational Omni XPL	+0.0100%	4h	0.09669	+0.865%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09642	+0.585%	$259K	$900K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09630	+0.459%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09589	+0.030%	$130K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09570	−0.167%	$2K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09590	+0.042%	$2K	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09620	+0.355%	$142K	$250K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09588	+0.026%	$640K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09590	+0.042%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0328%	1h	0.09633	+0.490%	$195K	$629K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0672%	1h	0.09522	−0.668%	$75K	$90K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3569%	1h	0.09630	+0.463%	$546K	$1.0M	10x	as long as short