Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against OKX+0.012%7-day average — · you sell dearer than you buy

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

Long on OKX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX XPL-USDT-SWAP	0.09654	0.0100	pay 0.0050% / 4h	1h 11m	$7.9M	$48.1M	50x
Short	dYdX XPL-USD	0.09655	0	get 0.0000% / 1h	11m 29s	$9K	$600	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against OKX. 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 OKXbpFee dYdXbpOrdersPrice spread, now +0.012%Rate

Funding earned: −$21
Price spread: +0.012% → 0.000%: $1.21
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$39.79
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 2 min ago; dYdX: 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 OKX live order book, 2 min ago	0.52 bp	15.2 bp −$15	40.7 bp −$407	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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	−0.1096%	1h	0.09631	−0.238%	$4.4M	$3.2M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09661	+0.069%	$106K	—	100x	as long as short
01 Exchange XPLUSD	−0.0312%	1h	0.09659	+0.052%	$562	$873	5x	as long as short
Orderly PERP_XPL_USDC	−0.0006%	4h	0.09655	+0.010%	$30K	$266K	10x	as long as short
dYdX XPL-USDshort	0.0000%	1h	0.09655	+0.012%	$9K	$600	5x
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.578%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09662	+0.083%	$46K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09648	−0.060%	$73K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0065%	8h	0.09645	−0.090%	$13K	$696	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09666	+0.129%	$1.3M	$2.2M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid XPL	+0.0100%	1h	0.09680	+0.266%	$61.2M	$46.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09670	+0.167%	$255K	$420K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09651	−0.028%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09663	+0.091%	$44.0M	$97.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09657	+0.031%	$46.1M	$53.3M	75x	as long as short
OKX XPL-USDT-SWAPlong	+0.0100%	4h	0.09654	long leg	$7.9M	$48.1M	50x
Bulk XPL-USD	+0.0100%	1h	0.09655	+0.010%	$141K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09665	+0.114%	$3.1M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09660	+0.062%	$12.7M	$6.8M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09653	−0.010%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09671	+0.176%	$9.1M	$9.8M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09658	+0.041%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09658	+0.041%	$181K	$189K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09658	+0.039%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09647	−0.073%	$263K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09650	−0.041%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09674	+0.209%	$126K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09630	−0.249%	$3K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09660	+0.062%	$200	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09646	−0.083%	$133K	$213K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09641	−0.137%	$604K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09660	+0.062%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09667	+0.135%	$196K	$506K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09645	−0.093%	$1.7M	$937K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.09718	+0.663%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2826%	1h	0.09690	+0.370%	$550K	$932K	10x	as long as short