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 MEXC−0.021%7-day average +0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$300.297% of the position

Long on MEXC Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.029%−$3 on $10k

Price spread, last 7 days+0.017%+$2 · spread now −0.021%, 7d avg +0.005%

Together, before fees−0.012%−$1 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 0.026% cheaper against MEXC than usual: you would sell low and buy high, −$3 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	MEXC XPL_USDT	0.09655	0.0100	pay 0.0050% / 4h	1h 15m	$12.6M	$6.8M	100x
Short	OKX XPL-USDT-SWAP	0.09653	0.0100	get 0.0050% / 4h	1h 15m	$7.9M	$48.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.021%Rate

Funding earned: $0
Price spread: −0.021% → +0.005%: −$2.59
Slippage, 4 orders: −$19.68
Fee MEXC: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$32.27
Costs to cover: 0.297%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; OKX: live order book, 3 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, 3 min ago	0.52 bp	3.6 bp −$4	8.3 bp −$83	86.9 bp −$8,694	238.5 bp −$119.3K
Sell OKX live order book, 3 min ago	0.52 bp	11.5 bp −$11	39.3 bp −$393	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	−0.1136%	1h	0.09643	−0.124%	$4.4M	$3.2M	10x	as long as short
01 Exchange XPLUSD	−0.0336%	1h	0.09656	+0.010%	$561	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09665	+0.106%	$107K	—	100x	as long as short
Orderly PERP_XPL_USDC	−0.0007%	4h	0.09661	+0.062%	$31K	$266K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09663	+0.084%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.586%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09665	+0.104%	$46K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09649	−0.061%	$73K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0062%	8h	0.09655	+0.001%	$13K	$696	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09675	+0.212%	$1.3M	$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	0.09672	+0.177%	$61.1M	$46.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09665	+0.104%	$255K	$419K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09660	+0.052%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09658	+0.031%	$43.9M	$97.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09653	−0.021%	$46.1M	$53.3M	75x	as long as short
OKX XPL-USDT-SWAPshort	+0.0100%	4h	0.09653	−0.021%	$7.9M	$48.0M	50x
Bulk XPL-USD	+0.0100%	1h	0.09630	−0.259%	$140K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09656	+0.010%	$3.1M	$3.4M	75x	as long as short
MEXC XPL_USDTlong	+0.0100%	4h	0.09655	long leg	$12.6M	$6.8M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09664	+0.093%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09662	+0.073%	$8.9M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09655	0.000%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09665	+0.104%	$181K	$189K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09658	+0.029%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09632	−0.235%	$255K	$1.2M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09650	−0.052%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09685	+0.312%	$127K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09650	−0.052%	$3K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09660	+0.052%	$203	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09666	+0.114%	$134K	$213K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09652	−0.034%	$604K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09661	+0.063%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09638	−0.176%	$195K	$506K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09639	−0.166%	$1.7M	$936K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.09718	+0.653%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2824%	1h	0.09694	+0.403%	$549K	$930K	10x	as long as short