Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: MEXC against Pacifica−0.070%7-day average −0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$530.529% of the position

Long on Pacifica Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.029%−$3 on $10k

Price spread, last 4 days (all we have)+1.014%+$101 · spread now −0.070%, 7d avg −0.026%

Together, before fees+0.985%+ Points / potential airdropPacifica: Active · farm board+$99 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 0.045% 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 −0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica XPL	0.09647	0.0100	pay 0.0013% / 1h	10m 43s	$220K	$48K	10x
Short	MEXC XPL_USDT	0.09640	0.0100	get 0.0050% / 4h	1h 10m	$12.5M	$7.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.070%Rate

Funding earned: $0
Price spread: −0.070% → −0.026%: −$4.5
Slippage, 4 orders: −$44.86
Fee Pacifica: 4 bp × 2 orders: −$8
Fee MEXC: 0 bp × 2 orders: $0
Net: −$57.36
Costs to cover: 0.529%
Break-even: never at this rate

Slippage from Pacifica: live order book, 52 min ago; MEXC: live order book, 3 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, 52 min ago	10.35 bp	22.9 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	2.60 bp	5.6 bp −$6	10.5 bp −$105	87.1 bp −$8,710	234.8 bp −$117.4K

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
01 Exchange XPLUSD	−0.0392%	1h	0.09619	−0.288%	$559	$708	5x	as long as short
Backpack XPL_USDC_PERP	−0.0268%	1h	0.09646	−0.008%	$179K	$231K	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0268% / S +0.0588%	1h	0.09638	−0.086%	$106K	—	100x	as long as short
Bybit XPLUSDT	−0.0121%	4h	0.09632	−0.153%	$45.6M	$56.7M	75x	as long as short
Orderly PERP_XPL_USDC	−0.0001%	4h	0.09639	−0.081%	$29K	$335K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09635	−0.122%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.522%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09645	−0.019%	$46K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09640	−0.067%	$73K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0060%	4h	0.09639	−0.081%	$8.3M	$52.5M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPL-USD-PERP	+0.0062%	8h	0.09640	−0.069%	$13K	$2K	5x	as long as short
Lighter XPL	+0.0096%	1h	0.09634	−0.133%	$4.4M	$4.2M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09620	−0.273%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09657	+0.102%	$60.6M	$48.3M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09648	+0.014%	$245K	$497K	20x	as long as short
Pacifica XPLlong	+0.0100%	1h	0.09647	long leg	$220K	$48K	10x
Binance XPLUSDT	+0.0100%	4h	0.09638	−0.087%	$43.7M	$108.2M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09643	−0.035%	$140K	$5K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09641	−0.060%	$3.0M	$3.8M	75x	as long as short
MEXC XPL_USDTshort	+0.0100%	4h	0.09640	−0.070%	$12.5M	$7.9M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09633	−0.143%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09644	−0.029%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09640	−0.070%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09618	−0.302%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09611	−0.370%	$253K	$930K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09620	−0.278%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09636	−0.109%	$128K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09610	−0.381%	$2K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09640	−0.070%	$2K	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09642	−0.050%	$145K	$263K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09641	−0.060%	$636K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09641	−0.064%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09632	−0.153%	$195K	$629K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09626	−0.216%	$1.7M	$1.0M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0672%	1h	0.09670	+0.240%	$75K	$93K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3553%	1h	0.09675	+0.295%	$549K	$1.0M	10x	as long as short