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: BingX against SunX+0.186%7-day average +0.151% · you sell dearer than you buy

Net, funding: paid 7d − costs−$344as in the Funding arb table

Net, price: spread back to 7d avg − costs−$340as in the Price arb table

costs, in and out, $10k−$3443.437% of the position

Long on SunX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.006%−$1 on $10k

Price spread, last 3 days (all we have)+0.168%+$17 · spread now +0.186%, 7d avg +0.151%

Together, before fees+0.163%+$16 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: BingX is 0.035% dearer against SunX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.151%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XPL-USDT	0.09680	0.0100	pay 0.0050% / 4h	2h 11m	$3K	$2.0M	20x
Short	BingX XPL-USDT	0.09698	0.0100	get 0.0050% / 4h	2h 11m	—	$7.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.186%Rate

Funding earned: $0
Price spread: +0.186% → +0.151%: $3.49
Slippage, 4 orders: −$325.7
Fee SunX: 4 bp × 2 orders: −$8
Fee BingX: 5 bp × 2 orders: −$10
Net: −$340.2
Costs to cover: 3.437%
Break-even: never at this rate

Slippage from SunX: live order book, 4 min ago; BingX: live order book, 11 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, 4 min ago	35.99 bp	160.0 bp −$160	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 11 min ago	4.59 bp	13.7 bp −$14	22.8 bp −$228	88.0 bp −$8,796	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	−0.0368%	1h	0.09704	+0.248%	$47K	$18K	25x	as long as short
Lighter XPL	−0.0088%	1h	0.09692	+0.124%	$4.4M	$4.3M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0085% / S +0.0489%	1h	0.09706	+0.267%	$112K	—	100x	as long as short
01 Exchange XPLUSD	−0.0056%	1h	0.09700	+0.207%	$564	$582	5x	as long as short
Backpack XPL_USDC_PERP	−0.0051%	1h	0.09702	+0.227%	$177K	$283K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09721	+0.419%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.791%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09708	+0.291%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0082%	4h	0.09701	+0.217%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0091%	8h	0.09711	+0.323%	$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	0.09711	+0.318%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09709	+0.304%	$62.4M	$47.3M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09706	+0.269%	$251K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09721	+0.420%	$220K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09696	+0.165%	$43.7M	$105.3M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09695	+0.155%	$47.2M	$53.6M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09698	+0.186%	$9.0M	$53.1M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09815	+1.395%	$141K	$11K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09705	+0.258%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09695	+0.155%	$12.7M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09705	+0.258%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09705	+0.258%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDTshort	+0.0100%	4h	0.09698	+0.186%	—	$7.9M	—
Variational Omni XPL	+0.0100%	4h	0.09749	+0.713%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09751	+0.729%	$264K	$775K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09750	+0.723%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09712	+0.331%	$129K	$2.7M	10x	as long as short
SunX XPL-USDTlong	+0.0100%	4h	0.09680	long leg	$3K	$2.0M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09700	+0.207%	$203	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09691	+0.114%	$138K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09696	+0.166%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09704	+0.246%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09723	+0.444%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09771	+0.940%	$198K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09783	+1.064%	$74K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3501%	1h	0.09768	+0.905%	$515K	$944K	10x	as long as short