Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: KuCoin against Polymarket Perps−0.197%7-day average −0.085% · you buy dearer than you sell

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$750.750% of the position

Long on Polymarket Perps Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.045%+$5 on $10k

Price spread, last 7 days+0.267%+$27 · spread now −0.197%, 7d avg −0.085%

Together, before fees+0.312%+$31 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: KuCoin is 0.112% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of −0.085%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps XPL-USD	0.09685	0.0100	pay 0.0013% / 1h	16m 09s	$127K	$1.8M	10x
Short	KuCoin XPLUSDTM	0.09666	0.0100	get 0.0050% / 4h	1h 16m	$2.3M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.197%Rate

Funding earned: $0
Price spread: −0.197% → −0.085%: −$11.22
Slippage, 4 orders: −$55.02
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$86.24
Costs to cover: 0.750%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 2 min ago; KuCoin: 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 Polymarket Perps live order book, 2 min ago	3.37 bp	7.4 bp −$7	8.3 bp −$83	doesn't fit	doesn't fit
Sell KuCoin live order book, 10 min ago	7.80 bp	31.0 bp −$31	165.6 bp −$1,656	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
Lighter XPL	−0.1136%	1h	0.09649	−0.373%	$4.4M	$3.2M	10x	as long as short
01 Exchange XPLUSD	−0.0336%	1h	0.09656	−0.300%	$561	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09665	−0.205%	$107K	—	100x	as long as short
Orderly PERP_XPL_USDC	−0.0007%	4h	0.09661	−0.249%	$31K	$266K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09654	−0.317%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.829%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09665	−0.208%	$46K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09649	−0.372%	$73K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0062%	8h	0.09655	−0.310%	$13K	$696	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09675	−0.099%	$1.3M	$2.2M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid XPL	+0.0100%	1h	0.09676	−0.095%	$61.1M	$46.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09667	−0.190%	$255K	$419K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09658	−0.278%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09659	−0.274%	$44.0M	$97.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09656	−0.300%	$46.1M	$53.3M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09652	−0.342%	$7.9M	$48.0M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09630	−0.569%	$140K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09661	−0.249%	$3.1M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09664	−0.218%	$12.7M	$6.8M	100x	as long as short
KuCoin XPLUSDTMshort	+0.0100%	4h	0.09666	−0.197%	$2.3M	$1.2M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09664	−0.218%	$8.9M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09657	−0.290%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09665	−0.208%	$181K	$189K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09630	−0.571%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09632	−0.545%	$255K	$1.2M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09650	−0.362%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USDlong	+0.0100%	1h	0.09685	long leg	$127K	$1.8M	10x
SunX XPL-USDT	+0.0100%	4h	0.09650	−0.362%	$3K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09660	−0.259%	$203	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09666	−0.197%	$134K	$213K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09660	−0.262%	$604K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09661	−0.248%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09638	−0.486%	$195K	$506K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09639	−0.476%	$1.7M	$936K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.09718	+0.340%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2824%	1h	0.09694	+0.091%	$549K	$930K	10x	as long as short