Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.072%

Price spread now: BloFin against SoDEX−0.093%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on SoDEX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. BloFin is 0.093% cheaper against SoDEX than usual: you would sell low and buy high (spread −0.093% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 31 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX XPL-USD	0.09690	0.0100	pay 0.0013% / 1h	3m 05s	$203	$12K	10x
Short	BloFin XPL-USDT	0.09681	0.0340	get 0.0170% / 4h	2h 03m	$1.7M	$943K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against SoDEX. 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 SoDEXbpFee BloFinbpOrdersPrice spread, now −0.093%Rate

Funding earned: $50.4
Price spread: −0.093% → 0.000%: −$9.29
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: $21.11
Costs to cover: 0.200%
Break-even: 4.1 days

Slippage unknown: SoDEX: no order-book sample; BloFin: live order book, 5 min ago. Net counts fees only.

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 SoDEX no order-book sample	—	—	—	—	—
Sell BloFin live order book, 5 min ago	0.52 bp	13.2 bp −$13	23.7 bp −$237	60.8 bp −$6,084	doesn't fit

SoDEX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09680	−0.104%	$107K	—	100x	as long as short
01 Exchange XPLUSD	−0.0248%	1h	0.09665	−0.258%	$562	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0163%	1h	0.09690	0.000%	$46K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09670	−0.211%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.870%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09693	+0.035%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0007%	4h	0.09688	−0.021%	$29K	$291K	10x	as long as short
Lighter XPL	+0.0056%	1h	0.09680	−0.103%	$4.4M	$3.0M	10x	as long as short
Paradex XPL-USD-PERP	+0.0062%	8h	0.09667	−0.235%	$13K	$696	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09667	−0.237%	$1.2M	$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	0.09702	+0.127%	$61.4M	$46.3M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09695	+0.048%	$255K	$426K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09676	−0.142%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09685	−0.053%	$43.9M	$98.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09688	−0.021%	$46.0M	$53.7M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09683	−0.072%	$8.0M	$48.8M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09661	−0.297%	$141K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09691	+0.010%	$3.1M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09684	−0.062%	$12.8M	$7.0M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09680	−0.103%	$2.3M	$1.3M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09695	+0.052%	$9.0M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09683	−0.072%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09691	+0.010%	$176K	$189K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09685	−0.054%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09679	−0.109%	$260K	$1.2M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09680	−0.103%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09679	−0.118%	$127K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09650	−0.413%	$3K	$1.7M	20x	as long as short
SoDEX XPL-USDlong	+0.0100%	1h	0.09690	long leg	$203	$12K	10x
HTX XPL-USDT	+0.0100%	4h	0.09682	−0.083%	$138K	$187K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09685	−0.051%	$609K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09688	−0.026%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09695	+0.052%	$196K	$536K	10x	as long as short
BloFin XPL-USDTshort	+0.0340%	4h	0.09681	−0.093%	$1.7M	$943K	75x
Coinbase International XPL-PERP-INTX	+0.0592%	1h	0.09718	+0.289%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2860%	1h	0.09719	+0.304%	$552K	$953K	10x	as long as short