Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0041%/8h= −4.5% APRpaid last 24h −0.001%

Price spread now: OKX against Nado+0.052%7-day average +0.003% · 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−$38as in the Price arb table

costs, in and out, $10k−$420.425% of the position

Long on Nado Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.001%$0 on $10k

Price spread, last 4 days (all we have)−1.064%−$106 · spread now +0.052%, 7d avg +0.003%

Together, before fees−1.062%+ Points / potential airdropNado: Active · farm board−$106 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.049% dearer against Nado than usual: you sell high and buy low (spread +0.052% now, against its 7-day average of +0.003%): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado XPL-PERP	0.09667	0.0100	pay 0.0012% / 1h	18m 37s	$1.2M	$2.8M	10x
Short	OKX XPL-USDT-SWAP	0.09672	0.0059	get 0.0030% / 4h	2h 18m	$8.4M	$54.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.052%Rate

Funding earned: −$8.59
Price spread: +0.052% → +0.003%: $4.89
Slippage, 4 orders: −$25.46
Fee Nado: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$46.16
Costs to cover: 0.425%
Break-even: never at this rate

Slippage from Nado: live order book, 5 min ago; OKX: live order book, 5 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, 5 min ago	2.07 bp	9.2 bp −$9	20.0 bp −$200	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	0.52 bp	10.5 bp −$10	33.0 bp −$330	doesn't fit	doesn't fit

XPL on 35 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	−0.0224%	1h	0.09662	−0.052%	$562	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0200% / S +0.0564%	1h	0.09675	+0.086%	$111K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0171%	1h	0.09681	+0.145%	$179K	$244K	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0163%	1h	0.09678	+0.114%	$46K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09675	+0.083%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.686%	—	—	—	as long as short
Orderly PERP_XPL_USDC	+0.0002%	4h	0.09674	+0.072%	$29K	$335K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09677	+0.106%	$60K	—	150x	as long as short
OKX XPL-USDT-SWAPshort	+0.0059%	4h	0.09672	+0.052%	$8.4M	$54.7M	50x
Paradex XPL-USD-PERP	+0.0065%	8h	0.09678	+0.109%	$13K	$2K	5x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPL	+0.0096%	1h	0.09669	+0.021%	$4.4M	$4.2M	10x	as long as short
Nado XPL-PERPlong	+0.0100%	1h	0.09667	long leg	$1.2M	$2.8M	10x
Hyperliquid XPL	+0.0100%	1h	0.09687	+0.208%	$61.8M	$47.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09684	+0.174%	$247K	$513K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09686	+0.194%	$220K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09670	+0.036%	$43.9M	$109.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09669	+0.021%	$46.6M	$57.6M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09675	+0.086%	$141K	$7K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09676	+0.093%	$3.0M	$3.9M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09677	+0.103%	$12.7M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09678	+0.114%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09673	+0.062%	$8.6M	$11.2M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09670	+0.031%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09664	−0.034%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09673	+0.059%	$264K	$877K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09670	+0.031%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09683	+0.162%	$130K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09660	−0.072%	$2K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09670	+0.031%	$194	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09676	+0.093%	$143K	$258K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09669	+0.020%	$655K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09681	+0.147%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0328%	1h	0.09686	+0.197%	$196K	$657K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0496%	1h	0.09766	+1.024%	$78K	$95K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4401%	1h	0.09720	+0.544%	$551K	$1.0M	10x	as long as short