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: BingX against Nado−0.029%7-day average −0.072% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$430.432% of the position

Long on Nado Short on BingX

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 7 days−0.143%−$14 · spread now −0.029%, 7d avg −0.072%

Together, before fees−0.143%+ Points / potential airdropNado: Active · farm board−$14 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: BingX is 0.043% dearer against Nado than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.072%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado XPL-PERP	0.09585	0.0100	pay 0.0012% / 1h	7m 30s	$1.2M	$2.8M	10x
Short	BingX XPL-USDT	0.09582	0.0100	get 0.0050% / 4h	1h 07m	—	$7.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.029%Rate

Funding earned: $0
Price spread: −0.029% → −0.072%: $4.29
Slippage, 4 orders: −$26.21
Fee Nado: 3.5 bp × 2 orders: −$7
Fee BingX: 5 bp × 2 orders: −$10
Net: −$38.92
Costs to cover: 0.432%
Break-even: 355404961193646.6 days

Slippage from Nado: live order book, 1 min ago; BingX: live order book, 10 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, 1 min ago	1.04 bp	7.8 bp −$8	21.5 bp −$215	doesn't fit	doesn't fit
Sell BingX live order book, 10 min ago	5.18 bp	14.5 bp −$14	30.9 bp −$309	90.8 bp −$9,082	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	−0.0400%	1h	0.09574	−0.112%	$557	$708	5x	as long as short
Backpack XPL_USDC_PERP	−0.0278%	1h	0.09594	+0.097%	$178K	$230K	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0270% / S +0.0589%	1h	0.09597	+0.129%	$105K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0167%	1h	0.09594	+0.097%	$46K	$18K	25x	as long as short
Bybit XPLUSDT	−0.0136%	4h	0.09572	−0.133%	$45.3M	$56.5M	75x	as long as short
Orderly PERP_XPL_USDC	−0.0002%	4h	0.09590	+0.055%	$29K	$335K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09598	+0.139%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.013%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09600	+0.164%	$72K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0057%	4h	0.09581	−0.039%	$8.2M	$51.8M	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	0.09588	+0.035%	$12K	$2K	5x	as long as short
Lighter XPL	+0.0096%	1h	0.09581	−0.039%	$4.3M	$4.2M	10x	as long as short
Nado XPL-PERPlong	+0.0100%	1h	0.09585	long leg	$1.2M	$2.8M	10x
Hyperliquid XPL	+0.0100%	1h	0.09602	+0.179%	$60.2M	$48.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09595	+0.104%	$243K	$497K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09593	+0.086%	$219K	$48K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09583	−0.023%	$43.4M	$107.5M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09643	+0.612%	$140K	$5K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09584	−0.008%	$3.0M	$3.8M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09587	+0.023%	$12.5M	$8.0M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09579	−0.060%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09586	+0.013%	$8.5M	$10.8M	75x	as long as short
BingX XPL-USDTshort	+0.0100%	4h	0.09582	−0.029%	—	$7.9M	—
Variational Omni XPL	+0.0100%	4h	0.09618	+0.343%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09596	+0.118%	$263K	$941K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09600	+0.159%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09589	+0.044%	$127K	$2.2M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09570	−0.154%	$2K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09590	+0.055%	$2K	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09592	+0.076%	$144K	$262K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09581	−0.035%	$634K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09590	+0.055%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09638	+0.556%	$195K	$629K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09593	+0.086%	$1.7M	$1.0M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0672%	1h	0.09670	+0.889%	$75K	$87K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3568%	1h	0.09635	+0.528%	$546K	$1.0M	10x	as long as short