Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: BingX against Pacifica−0.146%7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs−$95as in the Price arb table

costs, in and out, $10k−$840.842% of the position

Long on Pacifica Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.326%+$33 · spread now −0.146%, 7d avg −0.042%

Together, before fees+0.325%+ Points / potential airdropPacifica: Active · farm board+$33 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: BingX is 0.104% cheaper against Pacifica than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of −0.042%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica XPL	0.09557	0.0100	pay 0.0013% / 1h	52m 19s	$219K	$46K	10x
Short	BingX XPL-USDT	0.09543	0.0100	get 0.0050% / 4h	3h 52m	—	$7.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Pacifica. 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 PacificabpFee BingXbpOrdersPrice spread, now −0.146%Rate

Funding earned: $0
Price spread: −0.146% → −0.042%: −$10.41
Slippage, 4 orders: −$66.21
Fee Pacifica: 4 bp × 2 orders: −$8
Fee BingX: 5 bp × 2 orders: −$10
Net: −$94.62
Costs to cover: 0.842%
Break-even: never at this rate

Slippage from Pacifica: live order book, 46 min ago; BingX: live order book, 1 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 Pacifica live order book, 46 min ago	10.47 bp	27.4 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 1 min ago	5.76 bp	16.5 bp −$17	26.9 bp −$269	89.8 bp −$8,976	doesn't fit

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	−0.1400%	1h	0.09523	−0.356%	$4.3M	$3.1M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0483%	1h	0.09541	−0.167%	$46K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0408%	1h	0.09553	−0.042%	$555	$873	5x	as long as short
Bybit XPLUSDT	−0.0245%	4h	0.09539	−0.188%	$45.4M	$53.9M	75x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09571	+0.145%	$106K	—	100x	as long as short
Paradex XPL-USD-PERP	−0.0066%	8h	0.09550	−0.075%	$12K	$696	5x	as long as short
Orderly PERP_XPL_USDC	−0.0026%	4h	0.09537	−0.209%	$30K	$277K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09560	+0.032%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.784%	—	—	—	as long as short
OKX XPL-USDT-SWAP	+0.0003%	4h	0.09535	−0.230%	$7.7M	$47.6M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09559	+0.024%	$72K	—	150x	as long as short
Backpack XPL_USDC_PERP	+0.0082%	1h	0.09566	+0.094%	$179K	$180K	10x	as long as short
Gate XPL_USDT	+0.0094%	4h	0.09550	−0.073%	$2.9M	$3.3M	75x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09549	−0.084%	$1.3M	$2.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09548	−0.094%	$252K	$404K	20x	as long as short
Pacifica XPLlong	+0.0100%	1h	0.09557	long leg	$219K	$46K	10x
Binance XPLUSDT	+0.0100%	4h	0.09542	−0.157%	$43.3M	$97.8M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09555	−0.021%	$139K	$0	10x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09549	−0.084%	$12.4M	$6.5M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09547	−0.105%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09547	−0.105%	$9.0M	$9.8M	75x	as long as short
BingX XPL-USDTshort	+0.0100%	4h	0.09543	−0.146%	—	$7.8M	—
Variational Omni XPL	+0.0100%	4h	0.09555	−0.022%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09563	+0.059%	$256K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09540	−0.178%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09560	+0.031%	$125K	$1.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09520	−0.387%	$3K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09530	−0.283%	$194	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09546	−0.115%	$132K	$210K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09533	−0.255%	$595K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09537	−0.213%	$28K	$18K	3x	as long as short
Hyperliquid XPL	+0.0108%	1h	0.09568	+0.111%	$60.5M	$46.0M	10x	as long as short
Phoenix XPL	+0.0251%	1h	0.09566	+0.094%	$194K	$494K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09556	−0.010%	$1.7M	$929K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0536%	1h	0.09596	+0.408%	$64K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2708%	1h	0.09577	+0.212%	$543K	$943K	10x	as long as short