Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0072%/8h= +7.9% APRpaid last 24h +0.072%

Price spread now: BloFin against Pacifica−0.430%7-day average −0.080% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$102as in the Price arb table

costs, in and out, $10k−$670.672% of the position

Long on Pacifica Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.450%+$45 on $10k

Price spread, last 4 days (all we have)+0.336%+$34 · spread now −0.430%, 7d avg −0.080%

Together, before fees+0.785%+ Points / potential airdropPacifica: Active · farm board+$79 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.350% cheaper against Pacifica than usual: you would sell low and buy high (spread −0.430% now, against its 7-day average of −0.080%). If the spread goes back, that is −$35 on $10k: about 16 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.450% in total) that is about 5.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica XPL	0.09340	0.0100	pay 0.0013% / 1h	48m 22s	$208K	$50K	10x
Short	BloFin XPL-USDT	0.09300	0.0172	get 0.0086% / 4h	48m 22s	$1.7M	$821K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.430%Rate

Funding earned: $15.16
Price spread: −0.430% → −0.080%: −$34.99
Slippage, 4 orders: −$47.23
Fee Pacifica: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$87.06
Costs to cover: 0.672%
Break-even: 47.2 days

Slippage from Pacifica: live order book, 58 min ago; BloFin: live order book, 2 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, 58 min ago	5.30 bp	20.9 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 2 min ago	0.54 bp	11.9 bp −$12	21.5 bp −$215	65.0 bp −$6,499	doesn't fit

XPL on 36 exchanges

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
01 Exchange XPLUSD	−0.0560%	1h	0.09315	−0.270%	$542	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0514% / S +0.0733%	1h	0.09327	−0.139%	$103K	—	100x	as long as short
Lighter XPL	−0.0432%	1h	0.09329	−0.120%	$4.2M	$2.5M	10x	as long as short
Bybit XPLUSDT	−0.0353%	4h	0.09323	−0.184%	$43.6M	$52.4M	75x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0286%	1h	0.09329	−0.120%	$47K	$19K	25x	as long as short
Polymarket Perps XPL-USD	−0.0245%	1h	0.09319	−0.228%	$37K	$1.2M	10x	as long as short
Orderly PERP_XPL_USDC	−0.0145%	4h	0.09323	−0.184%	$29K	$89K	10x	as long as short
Paradex XPL-USD-PERP	−0.0099%	8h	0.09330	−0.105%	$12K	$696	5x	as long as short
Binance XPLUSDT	−0.0069%	4h	0.09323	−0.184%	$42.9M	$94.7M	75x	as long as short
MEXC XPL_USDT	−0.0066%	4h	0.09319	−0.227%	$12.3M	$6.5M	100x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX XPL-USDT-SWAP	−0.0012%	4h	0.09327	−0.141%	$7.1M	$45.2M	50x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09341	+0.010%	$9K	$1K	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−18.946%	—	—	—	as long as short
Nado XPL-PERP	+0.0004%	1h	0.09318	−0.232%	$1.1M	$2.3M	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09328	−0.126%	$70K	—	150x	as long as short
Gate XPL_USDT	+0.0024%	4h	0.09322	−0.195%	$2.8M	$2.7M	75x	as long as short
Backpack XPL_USDC_PERP	+0.0063%	1h	0.09311	−0.313%	$180K	$172K	10x	as long as short
Aevo XPL-PERP	+0.0064%	1h	0.09336	−0.042%	$28K	$18K	3x	as long as short
Extended XPL-USD	+0.0072%	1h	0.09322	−0.197%	$589K	$1.1M	25x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09332	−0.084%	$58.7M	$40.3M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09331	−0.104%	$242K	$366K	20x	as long as short
Pacifica XPLlong	+0.0100%	1h	0.09340	long leg	$208K	$50K	10x
Bulk XPL-USD	+0.0100%	1h	0.09357	+0.185%	$136K	$5K	10x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09328	−0.131%	$2.2M	$1.3M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09333	−0.077%	$8.8M	$9.6M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09325	−0.163%	—	$7.7M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09314	−0.280%	$1.8M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09320	−0.216%	$249K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09320	−0.216%	$24K	$67K	50x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09310	−0.323%	$3K	$1.4M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09330	−0.109%	$179	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09318	−0.238%	$130K	$166K	20x	as long as short
Phoenix XPL	+0.0170%	1h	0.09368	+0.298%	$189K	$435K	10x	as long as short
BloFin XPL-USDTshort	+0.0172%	4h	0.09300	−0.430%	$1.7M	$821K	75x
Coinbase International XPL-PERP-INTX	+0.0608%	1h	0.09455	+1.229%	$63K	$86K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.1201%	1h	0.09350	+0.103%	$552K	$988K	10x	as long as short