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% APRpaid last 24h 0.000%

Price spread now: Polymarket Perps against SunX+0.382%7-day average +0.252% · you sell dearer than you buy

Net, funding: paid 7d − costs−$321as in the Funding arb table

Net, price: spread back to 7d avg − costs−$303as in the Price arb table

costs, in and out, $10k−$3163.163% of the position

Long on SunX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.048%−$5 on $10k

Price spread, last 3 days (all we have)+0.046%+$5 · spread now +0.382%, 7d avg +0.252%

Together, before fees−0.001%$0 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: Polymarket Perps is 0.130% dearer against SunX than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of +0.252%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XPL-USDT	0.09690	0.0100	pay 0.0050% / 4h	25m 31s	$2K	$2.0M	20x
Short	Polymarket Perps XPL-USD	0.09727	0.0100	get 0.0013% / 1h	25m 31s	$130K	$2.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.382%Rate

Funding earned: $0
Price spread: +0.382% → +0.252%: $13.01
Slippage, 4 orders: −$300.33
Fee SunX: 4 bp × 2 orders: −$8
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$303.32
Costs to cover: 3.163%
Break-even: never at this rate

Slippage from SunX: live order book, just now; Polymarket Perps: 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, just now	36.14 bp	151.5 bp −$152	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 3 min ago	1.54 bp	8.0 bp −$8	9.4 bp −$94	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	−0.0544%	1h	0.09693	+0.031%	$4.4M	$4.2M	10x	as long as short
01 Exchange XPLUSD	−0.0392%	1h	0.09693	+0.031%	$564	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0162%	1h	0.09711	+0.217%	$47K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0137% / S +0.0523%	1h	0.09717	+0.278%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09710	+0.206%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−21.874%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09718	+0.287%	$76K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0022%	8h	0.09705	+0.152%	$13K	$2K	5x	as long as short
Orderly PERP_XPL_USDC	+0.0050%	4h	0.09707	+0.175%	$29K	$335K	10x	as long as short
Gate XPL_USDT	+0.0068%	4h	0.09702	+0.124%	$3.0M	$4.0M	75x	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	0.09701	+0.114%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09720	+0.309%	$62.7M	$48.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09709	+0.192%	$252K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09710	+0.202%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09695	+0.056%	$44.1M	$108.3M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09696	+0.062%	$47.2M	$55.3M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09694	+0.041%	$8.7M	$54.3M	50x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09700	+0.103%	$12.6M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09702	+0.124%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09704	+0.144%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09695	+0.052%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09713	+0.237%	$179K	$281K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09715	+0.262%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09720	+0.310%	$260K	$806K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09730	+0.413%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USDshort	+0.0100%	1h	0.09727	+0.382%	$130K	$2.7M	10x
SunX XPL-USDTlong	+0.0100%	4h	0.09690	long leg	$2K	$2.0M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09710	+0.206%	$200	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09716	+0.268%	$138K	$233K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09700	+0.101%	$141K	$9K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09697	+0.070%	$653K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09711	+0.221%	$38K	$5K	3x	as long as short
Phoenix XPL	+0.0327%	1h	0.09714	+0.248%	$197K	$651K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09726	+0.372%	$1.7M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0568%	1h	0.09825	+1.393%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5110%	1h	0.09770	+0.827%	$564K	$1.0M	10x	as long as short