Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against SunX−0.165%7-day average +0.134% · you buy dearer than you sell

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

Long on SunX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.033%−$3 on $10k

Price spread, last 4 days (all we have)+0.451%+$45 · spread now −0.165%, 7d avg +0.134%

Together, before fees+0.418%+ Points / potential airdropExtended: Active · farm board+$42 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: Extended is 0.298% cheaper against SunX than usual: you would sell low and buy high, −$30 on $10k if it goes back to its 7-day average of +0.134%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XPL-USDT	0.09590	0.0100	pay 0.0050% / 4h	2h 34m	$3K	$1.7M	20x
Short	Extended XPL-USD	0.09574	0.0104	get 0.0013% / 1h	34m 59s	$604K	$1.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.165%Rate

Funding earned: $0.84
Price spread: −0.165% → +0.134%: −$29.81
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$41.97
Costs to cover: 0.130%
Break-even: 356.8 days

Slippage unknown: SunX: live order book, 11 min ago; Extended: live order book, 3 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 SunX live order book, 11 min ago	506.00 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 3 min ago	0.52 bp	5.8 bp −$6	18.7 bp −$187	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
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09609	+0.201%	$106K	—	100x	as long as short
01 Exchange XPLUSD	−0.0224%	1h	0.09610	+0.209%	$559	$708	5x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09608	+0.193%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.055%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09611	+0.219%	$46K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09610	+0.206%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0015%	4h	0.09607	+0.177%	$29K	$320K	10x	as long as short
Lighter XPL	+0.0032%	1h	0.09591	+0.010%	$4.3M	$3.0M	10x	as long as short
Paradex XPL-USD-PERP	+0.0067%	8h	0.09608	+0.183%	$12K	$696	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09603	+0.138%	$1.2M	$2.4M	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	0.09599	+0.094%	$60.6M	$46.4M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09580	−0.104%	$252K	$429K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09611	+0.223%	$220K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09566	−0.250%	$43.4M	$100.1M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09557	−0.344%	$45.3M	$54.3M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09554	−0.375%	$8.1M	$48.2M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09565	−0.256%	$139K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09573	−0.177%	$3.0M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09573	−0.177%	$12.3M	$6.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09572	−0.188%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09582	−0.083%	$9.1M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09565	−0.261%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09598	+0.083%	$174K	$190K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09579	−0.115%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09577	−0.141%	$254K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09590	0.000%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09620	+0.315%	$126K	$2.0M	10x	as long as short
SunX XPL-USDTlong	+0.0100%	4h	0.09590	long leg	$3K	$1.7M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09600	+0.104%	$203	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09559	−0.323%	$139K	$185K	20x	as long as short
Extended XPL-USDshort	+0.0104%	1h	0.09574	−0.165%	$604K	$1.2M	25x
Aevo XPL-PERP	+0.0104%	1h	0.09610	+0.204%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09549	−0.428%	$193K	$536K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09614	+0.250%	$1.8M	$949K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0592%	1h	0.09640	+0.521%	$67K	$90K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2885%	1h	0.09635	+0.474%	$548K	$989K	10x	as long as short