Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against OKX−0.072%7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$270.272% of the position

Long on OKX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.028%+$3 on $10k

Price spread, last 7 days+0.056%+$6 · spread now −0.072%, 7d avg −0.006%

Together, before fees+0.084%+$8 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: MEXC is 0.066% cheaper against OKX than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX XPL-USDT-SWAP	0.09725	0.0100	pay 0.0050% / 4h	3h 50m	$8.6M	$55.0M	50x
Short	MEXC XPL_USDT	0.09718	0.0100	get 0.0050% / 4h	3h 50m	$12.7M	$7.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.072%Rate

Funding earned: $0
Price spread: −0.072% → −0.006%: −$6.62
Slippage, 4 orders: −$17.22
Fee OKX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$33.84
Costs to cover: 0.272%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; MEXC: live order book, 8 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 OKX live order book, 3 min ago	0.51 bp	12.3 bp −$12	32.6 bp −$326	doesn't fit	doesn't fit
Sell MEXC live order book, 8 min ago	0.51 bp	2.8 bp −$3	6.0 bp −$60	75.8 bp −$7,580	229.3 bp −$114.6K

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	−0.0367%	1h	0.09720	−0.051%	$47K	$18K	25x	as long as short
Lighter XPL	−0.0312%	1h	0.09709	−0.165%	$4.4M	$4.2M	10x	as long as short
01 Exchange XPLUSD	−0.0304%	1h	0.09720	−0.051%	$565	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0154% / S +0.0534%	1h	0.09726	+0.013%	$112K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0138%	1h	0.09719	−0.062%	$180K	$282K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09719	−0.061%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.155%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09726	+0.012%	$76K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0021%	8h	0.09723	−0.017%	$13K	$2K	5x	as long as short
Orderly PERP_XPL_USDC	+0.0030%	4h	0.09718	−0.072%	$29K	$335K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XPL-PERP	+0.0100%	1h	0.09728	+0.031%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09740	+0.152%	$62.8M	$47.4M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09724	−0.014%	$252K	$533K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09720	−0.051%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09724	−0.010%	$44.4M	$109.0M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09725	0.000%	$47.1M	$55.8M	75x	as long as short
OKX XPL-USDT-SWAPlong	+0.0100%	4h	0.09725	long leg	$8.6M	$55.0M	50x
Bulk XPL-USD	+0.0100%	1h	0.09796	+0.725%	$143K	$4K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09715	−0.103%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDTshort	+0.0100%	4h	0.09718	−0.072%	$12.7M	$7.6M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09719	−0.062%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09730	+0.051%	$8.6M	$11.2M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09717	−0.082%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09715	−0.103%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09746	+0.219%	$266K	$827K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09750	+0.257%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09735	+0.104%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09700	−0.257%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09720	−0.051%	$196	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09784	+0.607%	$142K	$241K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09716	−0.096%	$654K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09764	+0.399%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09742	+0.175%	$197K	$655K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09717	−0.082%	$1.7M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09815	+0.925%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5091%	1h	0.09772	+0.488%	$565K	$1.0M	10x	as long as short