Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: HTX against Polymarket Perps+1.009%7-day average −0.109% · you sell dearer than you buy

Net, funding: paid 7d − costs−$92as in the Funding arb table

Net, price: spread back to 7d avg − costs$0as in the Price arb table

costs, in and out, $10k−$1111.113% of the position

Long on Polymarket Perps Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.197%+$20 on $10k

Price spread, last 3 days (all we have)−1.314%−$131 · spread now +1.009%, 7d avg −0.109%

Together, before fees−1.117%−$112 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 1.118% dearer against Polymarket Perps than usual: you sell high and buy low, +$112 on $10k if it goes back to its 7-day average of −0.109%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps XPL-USD	0.09796	0.0100	pay 0.0013% / 1h	2m 17s	$131K	$2.7M	10x
Short	HTX XPL-USDT	0.09895	0.0100	get 0.0050% / 4h	3h 02m	$143K	$243K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Polymarket Perps. 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 Polymarket PerpsbpFee HTXbpOrdersPrice spread, now +1.009%Rate

Funding earned: $0
Price spread: +1.009% → −0.109%: $111.78
Slippage, 4 orders: −$91.32
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee HTX: 6 bp × 2 orders: −$12
Net: $0.46
Costs to cover: 1.113%
Break-even: from the start

Slippage from Polymarket Perps: live order book, 2 min ago; HTX: live order book, 4 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 Polymarket Perps live order book, 2 min ago	4.63 bp	8.6 bp −$9	10.9 bp −$109	doesn't fit	doesn't fit
Sell HTX live order book, 4 min ago	13.68 bp	73.7 bp −$74	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
Deribit XPL_USDC-PERPETUAL	−0.0363%	1h	0.09789	−0.073%	$47K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0200%	1h	0.09786	−0.104%	$569	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0178% / S +0.0550%	1h	0.09797	+0.008%	$113K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09804	+0.078%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.719%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09797	+0.011%	$59K	—	150x	as long as short
Lighter XPL	+0.0008%	1h	0.09806	+0.100%	$4.4M	$4.2M	10x	as long as short
Orderly PERP_XPL_USDC	+0.0015%	4h	0.09788	−0.084%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0050%	8h	0.09789	−0.071%	$13K	$2K	5x	as long as short
OKX XPL-USDT-SWAP	+0.0059%	4h	0.09785	−0.114%	$8.7M	$55.4M	50x	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	0.09786	−0.099%	$1.3M	$2.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09800	+0.039%	$258K	$539K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09813	+0.170%	$223K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09791	−0.053%	$44.8M	$108.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09788	−0.084%	$47.7M	$56.2M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09909	+1.152%	$144K	$2K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09791	−0.053%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09789	−0.073%	$13.0M	$7.8M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09795	−0.012%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09787	−0.094%	$8.8M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09787	−0.094%	—	$8.0M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09821	+0.253%	$185K	$244K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09881	+0.862%	$1.8M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09890	+0.955%	$262K	$844K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09890	+0.958%	$26K	$89K	50x	as long as short
Polymarket Perps XPL-USDlong	+0.0100%	1h	0.09796	long leg	$131K	$2.7M	10x
SunX XPL-USDT	+0.0100%	4h	0.09760	−0.370%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09780	−0.165%	$492	$11K	10x	as long as short
HTX XPL-USDTshort	+0.0100%	4h	0.09895	+1.009%	$143K	$243K	20x
Extended XPL-USD	+0.0104%	1h	0.09786	−0.099%	$666K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09785	−0.109%	$29K	$18K	3x	as long as short
Hyperliquid XPL	+0.0154%	1h	0.09804	+0.079%	$63.6M	$47.0M	10x	as long as short
Phoenix XPL	+0.0163%	1h	0.09897	+1.029%	$200K	$655K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09821	+0.253%	$1.8M	$1.1M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09980	+1.876%	$74K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5059%	1h	0.09835	+0.392%	$569K	$1.0M	10x	as long as short