Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0054%/8h= +5.9% APRpaid last 24h +0.017%

Price spread now: Aevo against Orderly+0.067%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 5 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

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Aevo is 0.067% dearer against Orderly than usual: you sell high and buy low: +$7 more if the spread 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	Orderly PERP_XPL_USDC	0.09698	0.0050	pay 0.0025% / 4h	22m 45s	$29K	$335K	10x
Short	Aevo XPL-PERP	0.09705	0.0104	get 0.0013% / 1h	22m 45s	$38K	$5K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Orderly. 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 OrderlybpFee AevobpOrdersPrice spread, now +0.067%Rate

Funding earned: $11.37
Price spread: +0.067% → 0.000%: $6.7
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$3.93
Costs to cover: 0.220%
Break-even: 9.4 days

Slippage unknown: Orderly: no order-book sample; Aevo: 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 Orderly no order-book sample	—	—	—	—	—
Sell Aevo no order-book sample	—	—	—	—	—

Orderly and Aevo: 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	−0.0520%	1h	0.09693	−0.052%	$4.4M	$4.2M	10x	as long as short
01 Exchange XPLUSD	−0.0392%	1h	0.09680	−0.186%	$563	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0162%	1h	0.09702	+0.041%	$47K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0138% / S +0.0524%	1h	0.09702	+0.038%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09708	+0.106%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−21.939%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09700	+0.022%	$76K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0018%	8h	0.09711	+0.133%	$13K	$2K	5x	as long as short
Orderly PERP_XPL_USDClong	+0.0050%	4h	0.09698	long leg	$29K	$335K	10x
Gate XPL_USDT	+0.0066%	4h	0.09699	+0.010%	$3.0M	$4.0M	75x	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	0.09691	−0.070%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09713	+0.159%	$62.6M	$48.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09706	+0.085%	$252K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09710	+0.124%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09703	+0.052%	$44.1M	$108.3M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09709	+0.113%	$47.2M	$55.4M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09708	+0.103%	$8.7M	$54.3M	50x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09707	+0.093%	$12.7M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09707	+0.093%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09709	+0.113%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09699	+0.010%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09707	+0.093%	$179K	$281K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09715	+0.179%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09720	+0.227%	$260K	$806K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09710	+0.124%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09702	+0.045%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09670	−0.289%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09700	+0.021%	$200	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09701	+0.031%	$138K	$233K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09700	+0.019%	$141K	$9K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09702	+0.039%	$653K	$1.1M	25x	as long as short
Aevo XPL-PERPshort	+0.0104%	1h	0.09705	+0.067%	$38K	$5K	3x
Phoenix XPL	+0.0327%	1h	0.09734	+0.371%	$197K	$651K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09709	+0.113%	$1.7M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0568%	1h	0.09825	+1.310%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5116%	1h	0.09758	+0.619%	$563K	$1.0M	10x	as long as short