Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.071%

Price spread now: BloFin against Nado+0.010%7-day average −0.027% · 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−$34as in the Price arb table

costs, in and out, $10k−$380.377% of the position

Long on Nado Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.258%+$26 on $10k

Price spread, last 4 days (all we have)−0.100%−$10 · spread now +0.010%, 7d avg −0.027%

Together, before fees+0.158%+ Points / potential airdropNado: Active · farm board+$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and BloFin is 0.037% dearer against Nado than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado XPL-PERP	0.09680	0.0100	pay 0.0012% / 1h	1m 57s	$1.2M	$2.2M	10x
Short	BloFin XPL-USDT	0.09681	0.0340	get 0.0170% / 4h	2h 01m	$1.7M	$943K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.010%Rate

Funding earned: $50.4
Price spread: +0.010% → −0.027%: $3.74
Slippage, 4 orders: −$18.66
Fee Nado: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: $16.48
Costs to cover: 0.377%
Break-even: 4.7 days

Slippage from Nado: live order book, 2 min ago; BloFin: live order book, 6 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	1.03 bp	7.3 bp −$7	20.4 bp −$204	doesn't fit	doesn't fit
Sell BloFin live order book, 6 min ago	0.52 bp	13.2 bp −$13	23.7 bp −$237	60.8 bp −$6,084	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
Deribit XPL_USDC-PERPETUAL	−0.0369%	1h	0.09685	+0.052%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09690	+0.107%	$107K	—	100x	as long as short
01 Exchange XPLUSD	−0.0248%	1h	0.09678	−0.021%	$563	$708	5x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09688	+0.083%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.789%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09690	+0.103%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0007%	4h	0.09683	+0.031%	$29K	$287K	10x	as long as short
Lighter XPL	+0.0056%	1h	0.09680	0.000%	$4.4M	$3.0M	10x	as long as short
Paradex XPL-USD-PERP	+0.0060%	8h	0.09677	−0.034%	$13K	$696	5x	as long as short
Nado XPL-PERPlong	+0.0100%	1h	0.09680	long leg	$1.2M	$2.2M	10x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid XPL	+0.0100%	1h	0.09704	+0.248%	$61.4M	$46.3M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09693	+0.130%	$255K	$426K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09686	+0.066%	$222K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09682	+0.018%	$43.9M	$98.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09680	0.000%	$45.9M	$53.7M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09681	+0.010%	$8.0M	$48.8M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09688	+0.083%	$3.1M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09683	+0.031%	$12.8M	$7.0M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09686	+0.062%	$2.3M	$1.3M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09696	+0.165%	$9.0M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09680	0.000%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09690	+0.103%	$176K	$189K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09685	+0.050%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09679	−0.005%	$260K	$1.2M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09680	0.000%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09693	+0.133%	$127K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09660	−0.207%	$3K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09680	0.000%	$203	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09681	+0.010%	$138K	$187K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09676	−0.041%	$141K	$0	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09681	+0.007%	$609K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09684	+0.038%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09695	+0.155%	$196K	$536K	10x	as long as short
BloFin XPL-USDTshort	+0.0340%	4h	0.09681	+0.010%	$1.7M	$943K	75x
Coinbase International XPL-PERP-INTX	+0.0592%	1h	0.09718	+0.393%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2860%	1h	0.09719	+0.407%	$552K	$953K	10x	as long as short