Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0159%/8h= −17.5% APRpaid last 24h −0.062%

Price spread now: Deribit against MEXC+0.176%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on MEXC Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Deribit is 0.176% dearer against MEXC than usual: you sell high and buy low (spread +0.176% now, against zero (this spread has no 7-day history yet)): +$18 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 3.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XPL_USDT	0.09674	0.0100	pay 0.0050% / 4h	3h 19m	$12.8M	$7.1M	100x
Short	Deribit XPL_USDC-PERPETUAL	0.09691	−0.0059	pay 0.0007% / 1h	19m 48s	$46K	$18K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.176%Rate

Funding earned: −$33.48
Price spread: +0.176% → 0.000%: $17.57
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$22.91
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: MEXC: live order book, 4 min ago; Deribit: no order-book sample. Net counts fees only.

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	2.7 bp −$3	8.0 bp −$80	80.9 bp −$8,090	227.2 bp −$113.6K
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0368%	1h	0.09699	+0.258%	$564	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0304% / S +0.0610%	1h	0.09695	+0.217%	$107K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0082%	1h	0.09688	+0.145%	$176K	$189K	10x	as long as short
Deribit XPL_USDC-PERPETUALshort	−0.0059%	1h	0.09691	+0.176%	$46K	$18K	25x
dYdX XPL-USD	0.0000%	1h	0.09677	+0.032%	$9K	$585	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.741%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09695	+0.219%	$73K	—	150x	as long as short
Bybit XPLUSDT	+0.0007%	4h	0.09669	−0.052%	$45.8M	$54.1M	75x	as long as short
Orderly PERP_XPL_USDC	+0.0012%	4h	0.09690	+0.165%	$29K	$339K	10x	as long as short
Paradex XPL-USD-PERP	+0.0059%	8h	0.09677	+0.027%	$13K	$2K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPL	+0.0064%	1h	0.09675	+0.010%	$4.4M	$3.0M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09690	+0.165%	$1.2M	$2.4M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09698	+0.247%	$61.5M	$46.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09686	+0.120%	$252K	$422K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09680	+0.063%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09669	−0.048%	$43.9M	$100.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09664	−0.103%	$8.2M	$48.6M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09656	−0.186%	$141K	$5K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09687	+0.134%	$3.1M	$3.5M	75x	as long as short
MEXC XPL_USDTlong	+0.0100%	4h	0.09674	long leg	$12.8M	$7.1M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09679	+0.052%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09692	+0.186%	$9.0M	$9.6M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09686	+0.124%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09673	−0.012%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09666	−0.082%	$258K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09660	−0.145%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09698	+0.251%	$129K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09680	+0.062%	$3K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09690	+0.165%	$207	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09693	+0.196%	$142K	$186K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09682	+0.081%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09689	+0.153%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09662	−0.124%	$196K	$573K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09673	−0.010%	$1.7M	$962K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0640%	1h	0.09708	+0.351%	$75K	$76K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3097%	1h	0.09724	+0.518%	$553K	$990K	10x	as long as short