Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against SunX+0.204%7-day average +0.172% · you sell dearer than you buy

Net, funding: paid 7d − costs−$337as in the Funding arb table

Net, price: spread back to 7d avg − costs−$330as in the Price arb table

costs, in and out, $10k−$3343.336% of the position

Long on SunX Short on Binance

What this pair did over the last

the charts below follow

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

Price spread, last 3 days (all we have)+0.145%+$14 · spread now +0.204%, 7d avg +0.172%

Together, before fees+0.116%+$12 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: Binance is 0.032% dearer against SunX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.172%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XPL-USDT	0.09710	0.0100	pay 0.0050% / 4h	2h 10m	$3K	$2.0M	20x
Short	Binance XPLUSDT	0.09730	0.0100	get 0.0050% / 4h	2h 10m	$43.9M	$105.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against SunX. 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 SunXbpFee BinancebpOrdersPrice spread, now +0.204%Rate

Funding earned: $0
Price spread: +0.204% → +0.172%: $3.22
Slippage, 4 orders: −$315.64
Fee SunX: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$330.42
Costs to cover: 3.336%
Break-even: never at this rate

Slippage from SunX: live order book, 6 min ago; Binance: 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 SunX live order book, 6 min ago	35.99 bp	160.0 bp −$160	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 3 min ago	0.51 bp	10.6 bp −$11	26.3 bp −$263	111.5 bp −$11.1K	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	−0.0088%	1h	0.09718	+0.082%	$4.4M	$4.3M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0086% / S +0.0490%	1h	0.09731	+0.213%	$112K	—	100x	as long as short
01 Exchange XPLUSD	−0.0064%	1h	0.09721	+0.113%	$565	$708	5x	as long as short
Backpack XPL_USDC_PERP	−0.0056%	1h	0.09733	+0.237%	$177K	$283K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09721	+0.110%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.033%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09733	+0.237%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09729	+0.198%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0083%	4h	0.09728	+0.185%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0088%	8h	0.09722	+0.124%	$13K	$2K	5x	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	0.09725	+0.160%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09740	+0.312%	$62.5M	$47.3M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09730	+0.210%	$252K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09729	+0.194%	$220K	$45K	10x	as long as short
Binance XPLUSDTshort	+0.0100%	4h	0.09730	+0.204%	$43.9M	$105.3M	75x
Bybit XPLUSDT	+0.0100%	4h	0.09730	+0.206%	$47.4M	$53.6M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09728	+0.185%	$9.0M	$53.3M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09724	+0.144%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09731	+0.216%	$12.7M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09723	+0.134%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09734	+0.247%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09729	+0.196%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09696	−0.142%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09722	+0.122%	$263K	$775K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09750	+0.412%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09739	+0.302%	$129K	$2.7M	10x	as long as short
SunX XPL-USDTlong	+0.0100%	4h	0.09710	long leg	$3K	$2.0M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09730	+0.206%	$203	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09720	+0.103%	$138K	$246K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09695	−0.154%	$140K	$11K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09729	+0.200%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09734	+0.243%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09700	−0.103%	$1.8M	$1.1M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09739	+0.299%	$197K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09783	+0.752%	$74K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3499%	1h	0.09774	+0.658%	$515K	$944K	10x	as long as short