Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: SunX against Pacifica−0.272%7-day average −0.218% · you buy dearer than you sell

Net, funding: paid 7d − costs−$359as in the Funding arb table

Net, price: spread back to 7d avg − costs−$364as in the Price arb table

costs, in and out, $10k−$3593.588% of the position

Long on Pacifica Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.137%−$14 · spread now −0.272%, 7d avg −0.218%

Together, before fees−0.137%+ Points / potential airdropPacifica: Active · farm board−$14 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: SunX is 0.055% cheaper against Pacifica than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.218%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica XPL	0.09325	0.0100	pay 0.0013% / 1h	27m 50s	$208K	$52K	10x
Short	SunX XPL-USDT	0.09300	0.0100	get 0.0050% / 4h	1h 27m	$2K	$1.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.272%Rate

Funding earned: $0
Price spread: −0.272% → −0.218%: −$5.47
Slippage, 4 orders: −$342.75
Fee Pacifica: 4 bp × 2 orders: −$8
Fee SunX: 4 bp × 2 orders: −$8
Net: −$364.22
Costs to cover: 3.588%
Break-even: never at this rate

Slippage from Pacifica: live order book, 18 min ago; SunX: live order book, 10 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, 18 min ago	5.30 bp	20.9 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 10 min ago	5.32 bp	178.1 bp −$178	doesn't fit	doesn't fit	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	−0.0920%	1h	0.09310	−0.165%	$541	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0450% / S +0.0696%	1h	0.09307	−0.201%	$103K	—	100x	as long as short
Lighter XPL	−0.0408%	1h	0.09304	−0.229%	$4.2M	$3.1M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0394%	1h	0.09314	−0.122%	$46K	$18K	25x	as long as short
Bybit XPLUSDT	−0.0354%	4h	0.09311	−0.154%	$43.6M	$54.8M	75x	as long as short
Orderly PERP_XPL_USDC	−0.0115%	4h	0.09309	−0.176%	$29K	$139K	10x	as long as short
Backpack XPL_USDC_PERP	−0.0109%	1h	0.09323	−0.026%	$186K	$175K	10x	as long as short
Paradex XPL-USD-PERP	−0.0109%	8h	0.09312	−0.144%	$12K	$696	5x	as long as short
Extended XPL-USD	−0.0096%	1h	0.09314	−0.123%	$589K	$1.2M	25x	as long as short
Binance XPLUSDT	−0.0072%	4h	0.09313	−0.138%	$42.6M	$98.8M	75x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC XPL_USDT	−0.0070%	4h	0.09316	−0.101%	$12.6M	$6.6M	100x	as long as short
OKX XPL-USDT-SWAP	−0.0017%	4h	0.09317	−0.090%	$7.1M	$47.7M	50x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−18.816%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09319	−0.065%	$70K	—	150x	as long as short
Gate XPL_USDT	+0.0036%	4h	0.09317	−0.090%	$2.8M	$3.3M	75x	as long as short
Aevo XPL-PERP	+0.0064%	1h	0.09305	−0.219%	$28K	$18K	3x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09323	−0.026%	$1.2M	$2.3M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09324	−0.017%	$57.8M	$43.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09317	−0.090%	$241K	$385K	20x	as long as short
Pacifica XPLlong	+0.0100%	1h	0.09325	long leg	$208K	$52K	10x
Bulk XPL-USD	+0.0100%	1h	0.09380	+0.581%	$137K	$5K	10x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09323	−0.026%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09326	+0.006%	$8.7M	$10.2M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09315	−0.112%	—	$7.7M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09346	+0.224%	$1.8M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09331	+0.065%	$247K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09360	+0.371%	$24K	$67K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09320	−0.055%	$58K	$1.3M	10x	as long as short
SunX XPL-USDTshort	+0.0100%	4h	0.09300	−0.272%	$2K	$1.5M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09310	−0.165%	$176	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09351	+0.275%	$132K	$217K	20x	as long as short
dYdX XPL-USD	+0.0122%	1h	0.09318	−0.081%	$9K	$1K	5x	as long as short
BloFin XPL-USDT	+0.0172%	4h	0.09306	−0.208%	$1.7M	$850K	75x	as long as short
Phoenix XPL	+0.0252%	1h	0.09330	+0.049%	$189K	$435K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0712%	1h	0.09363	+0.403%	$63K	$90K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.1370%	1h	0.09336	+0.115%	$550K	$1.0M	10x	as long as short