Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: HTX against Pacifica−0.106%7-day average −0.063% · you buy dearer than you sell

Net, funding: paid 7d − costs−$97as in the Funding arb table

Net, price: spread back to 7d avg − costs−$119as in the Price arb table

costs, in and out, $10k−$1141.144% of the position

Long on Pacifica Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.174%+$17 on $10k

Price spread, last 3 days (all we have)−0.200%−$20 · spread now −0.106%, 7d avg −0.063%

Together, before fees−0.026%+ Points / potential airdropPacifica: Active · farm board−$3 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: HTX is 0.043% cheaper against Pacifica than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.063%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica XPL	0.09729	0.0100	pay 0.0013% / 1h	7m 42s	$221K	$46K	10x
Short	HTX XPL-USDT	0.09719	0.0100	get 0.0050% / 4h	1h 07m	$138K	$246K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.106%Rate

Funding earned: $0
Price spread: −0.106% → −0.063%: −$4.27
Slippage, 4 orders: −$94.41
Fee Pacifica: 4 bp × 2 orders: −$8
Fee HTX: 6 bp × 2 orders: −$12
Net: −$118.68
Costs to cover: 1.144%
Break-even: never at this rate

Slippage from Pacifica: live order book, 10 min ago; HTX: live order book, 9 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, 10 min ago	10.29 bp	17.8 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 9 min ago	26.28 bp	38.8 bp −$39	doesn't fit	doesn't fit	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
Backpack XPL_USDC_PERP	−0.0277%	1h	0.09708	−0.219%	$176K	$282K	10x	as long as short
01 Exchange XPLUSD	−0.0208%	1h	0.09717	−0.126%	$565	$708	5x	as long as short
Lighter XPL	−0.0192%	1h	0.09693	−0.373%	$4.4M	$4.1M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0116% / S +0.0510%	1h	0.09713	−0.172%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09711	−0.185%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.188%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09710	−0.198%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09712	−0.176%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0071%	4h	0.09706	−0.239%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0086%	8h	0.09724	−0.059%	$13K	$2K	5x	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	0.09715	−0.147%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09720	−0.100%	$62.9M	$47.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09714	−0.156%	$251K	$527K	20x	as long as short
Pacifica XPLlong	+0.0100%	1h	0.09729	long leg	$221K	$46K	10x
Binance XPLUSDT	+0.0100%	4h	0.09706	−0.239%	$43.9M	$107.0M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09708	−0.219%	$47.8M	$54.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09702	−0.281%	$8.9M	$53.8M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09714	−0.155%	$142K	$9K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09709	−0.209%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09703	−0.270%	$12.5M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09700	−0.301%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09710	−0.198%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09705	−0.250%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09707	−0.227%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09717	−0.128%	$259K	$787K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09720	−0.096%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09724	−0.049%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09710	−0.198%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09700	−0.301%	$446	$10K	10x	as long as short
HTX XPL-USDTshort	+0.0100%	4h	0.09719	−0.106%	$138K	$246K	20x
Extended XPL-USD	+0.0104%	1h	0.09703	−0.275%	$655K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09711	−0.191%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09722	−0.075%	$1.7M	$1.1M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09727	−0.024%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09760	+0.316%	$72K	$104K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4595%	1h	0.09769	+0.406%	$561K	$996K	10x	as long as short