Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.001%

Price spread now: SoDEX against Nado+0.068%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Nado Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropNado: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SoDEX is 0.068% dearer against Nado than usual: you sell high and buy low, +$7 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado XPL-PERP	0.09574	0.0100	pay 0.0012% / 1h	21m 11s	$1.2M	$2.2M	10x
Short	SoDEX XPL-USD	0.09580	0.0100	get 0.0013% / 1h	21m 11s	$191	$9K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.068%Rate

Funding earned: $0
Price spread: +0.068% → 0.000%: $6.79
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$8.21
Costs to cover: 0.150%
Break-even: 74980054458371.2 days

Slippage unknown: Nado: live order book, 3 min ago; SoDEX: no order-book sample. Net counts fees only.

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, 3 min ago	1.05 bp	7.3 bp −$7	20.1 bp −$201	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1168%	1h	0.09574	+0.005%	$4.3M	$3.2M	10x	as long as short
01 Exchange XPLUSD	−0.0424%	1h	0.09561	−0.131%	$556	$873	5x	as long as short
Bybit XPLUSDT	−0.0421%	4h	0.09582	+0.089%	$45.5M	$54.2M	75x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0311% / S +0.0615%	1h	0.09590	+0.173%	$106K	—	100x	as long as short
Paradex XPL-USD-PERP	−0.0117%	8h	0.09571	−0.026%	$12K	$696	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0063%	1h	0.09589	+0.162%	$46K	$17K	25x	as long as short
OKX XPL-USDT-SWAP	−0.0053%	4h	0.09583	+0.099%	$7.6M	$47.8M	50x	as long as short
Orderly PERP_XPL_USDC	−0.0034%	4h	0.09587	+0.141%	$30K	$235K	10x	as long as short
Gate XPL_USDT	−0.0016%	4h	0.09580	+0.068%	$2.9M	$3.3M	75x	as long as short
Backpack XPL_USDC_PERP	−0.0003%	1h	0.09583	+0.099%	$179K	$178K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX XPL-USD	0.0000%	1h	0.09569	−0.052%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.920%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09586	+0.126%	$72K	—	150x	as long as short
Extended XPL-USD	+0.0056%	1h	0.09582	+0.091%	$619K	$1.2M	25x	as long as short
MEXC XPL_USDT	+0.0090%	4h	0.09586	+0.131%	$13.1M	$6.6M	100x	as long as short
Binance XPLUSDT	+0.0094%	4h	0.09585	+0.123%	$43.8M	$98.2M	75x	as long as short
Nado XPL-PERPlong	+0.0100%	1h	0.09574	long leg	$1.2M	$2.2M	10x
Hyperliquid XPL	+0.0100%	1h	0.09592	+0.192%	$60.7M	$45.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09594	+0.215%	$254K	$400K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09570	−0.040%	$219K	$47K	10x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09479	−0.984%	$138K	$0	10x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09577	+0.037%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09587	+0.141%	$9.0M	$9.9M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09581	+0.078%	—	$7.7M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09484	−0.939%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09538	−0.371%	$255K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09550	−0.245%	$25K	$73K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09577	+0.037%	$125K	$1.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09570	−0.037%	$2K	$1.6M	20x	as long as short
SoDEX XPL-USDshort	+0.0100%	1h	0.09580	+0.068%	$191	$9K	10x
HTX XPL-USDT	+0.0100%	4h	0.09580	+0.068%	$133K	$214K	20x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09592	+0.189%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09515	−0.611%	$192K	$494K	10x	as long as short
BloFin XPL-USDT	+0.0334%	4h	0.09576	+0.026%	$1.7M	$952K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0536%	1h	0.09596	+0.235%	$64K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2698%	1h	0.09613	+0.409%	$547K	$959K	10x	as long as short