Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: Aster against Nado+0.093%48s7-day average −0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$560.556% of the position

Long on Nado Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 4 days (all we have)−1.375%−$138 · spread now +0.093%, 7d avg −0.017%

Together, before fees−1.375%+ Points / potential airdropNado: Active · Aster: Stage 5 · farm board−$137 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: Aster is 0.110% dearer against Nado than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of −0.017%. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado XPL-PERP	0.09612	0.0100	pay 0.0012% / 1h	11m 46s	$1.2M	$2.8M	10x
Short	Aster XPLUSDT	0.09621	0.0100	get 0.0050% / 4h	1h 11m	$244K	$497K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Nado. 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 NadobpFee AsterbpOrdersPrice spread, now +0.093%Rate

Funding earned: $0
Price spread: +0.093% → −0.017%: $11
Slippage, 4 orders: −$40.57
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$44.57
Costs to cover: 0.556%
Break-even: 407009377158510.8 days

Slippage from Nado: live order book, 2 min ago; Aster: live order book, 51 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 Nado live order book, 2 min ago	2.08 bp	8.5 bp −$8	19.5 bp −$195	doesn't fit	doesn't fit
Sell Aster live order book, 51 min ago	5.17 bp	15.6 bp −$16	122.7 bp −$1,227	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
01 Exchange XPLUSD	−0.0384%	1h	0.09599	−0.135%	$558	$708	5x	as long as short
Backpack XPL_USDC_PERP	−0.0272%	1h	0.09615	+0.031%	$178K	$231K	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0270%	1h	0.09613	+0.010%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0267% / S +0.0587%	1h	0.09617	+0.055%	$106K	—	100x	as long as short
Bybit XPLUSDT	−0.0112%	4h	0.09616	+0.042%	$45.5M	$56.7M	75x	as long as short
Orderly PERP_XPL_USDC	−0.0001%	4h	0.09610	−0.021%	$29K	$335K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09625	+0.131%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.238%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09617	+0.057%	$73K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0058%	4h	0.09622	+0.104%	$8.3M	$52.5M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPL-USD-PERP	+0.0060%	8h	0.09611	−0.007%	$12K	$2K	5x	as long as short
Lighter XPL	+0.0096%	1h	0.09619	+0.073%	$4.4M	$4.2M	10x	as long as short
Nado XPL-PERPlong	+0.0100%	1h	0.09612	long leg	$1.2M	$2.8M	10x
Hyperliquid XPL	+0.0100%	1h	0.09638	+0.265%	$60.5M	$48.3M	10x	as long as short
Aster XPLUSDTshort	+0.0100%	4h	0.09621	+0.093%	$244K	$497K	20x
Pacifica XPL	+0.0100%	1h	0.09620	+0.081%	$219K	$48K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09625	+0.138%	$43.6M	$108.3M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09643	+0.327%	$140K	$5K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09617	+0.052%	$3.0M	$3.8M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09618	+0.062%	$12.5M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09612	0.000%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09628	+0.166%	$8.5M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09620	+0.083%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09645	+0.339%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09649	+0.380%	$254K	$930K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09660	+0.499%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09618	+0.063%	$128K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09590	−0.229%	$2K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09610	−0.021%	$2K	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09642	+0.312%	$145K	$263K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09617	+0.053%	$636K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09612	−0.003%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09660	+0.499%	$196K	$629K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09630	+0.187%	$1.7M	$1.0M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0672%	1h	0.09670	+0.603%	$75K	$93K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3561%	1h	0.09652	+0.419%	$547K	$1.0M	10x	as long as short