Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0252%/8h= +27.6% APRpaid last 24h +0.049%

Price spread now: BingX against 01 Exchange+0.041%58s7-day average — · you sell dearer than you buy

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

Long on 01 Exchange Short on BingX

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

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and BingX is 0.041% dearer against 01 Exchange than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange XPLUSD	0.09831	−0.0152	get 0.0019% / 1h	35m 46s	$572	$708	5x
Short	BingX XPL-USDT	0.09835	0.0100	get 0.0050% / 4h	3h 35m	—	$7.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against 01 Exchange. 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 01 ExchangebpFee BingXbpOrdersPrice spread, now +0.041%Rate

Funding earned: $52.92
Price spread: +0.041% → 0.000%: $4.07
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee BingX: 5 bp × 2 orders: −$10
Net: $39.99
Costs to cover: 0.170%
Break-even: 1.7 days

Slippage unknown: 01 Exchange: no order-book sample; BingX: live order book, 2 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 01 Exchange no order-book sample	—	—	—	—	—
Sell BingX live order book, 2 min ago	5.62 bp	12.4 bp −$12	32.3 bp −$323	93.4 bp −$9,338	doesn't fit

01 Exchange: 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
Backpack XPL_USDC_PERP	−0.0167%	1h	0.09831	0.000%	$182K	$282K	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0161% / S +0.0539%	1h	0.09831	0.000%	$113K	—	100x	as long as short
01 Exchange XPLUSDlong	−0.0152%	1h	0.09831	long leg	$572	$708	5x
Lighter XPL	−0.0112%	1h	0.09827	−0.041%	$4.4M	$4.2M	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09829	−0.018%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.994%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09831	0.000%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09831	−0.004%	$77K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0030%	4h	0.09827	−0.041%	$30K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0041%	8h	0.09835	+0.039%	$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	0.09823	−0.076%	$1.4M	$2.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09840	+0.092%	$254K	$533K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09839	+0.082%	$224K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09839	+0.081%	$44.9M	$108.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09836	+0.051%	$47.6M	$55.7M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09835	+0.041%	$8.7M	$55.6M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09765	−0.669%	$142K	$2K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09836	+0.051%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09838	+0.071%	$12.9M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09831	0.000%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09840	+0.092%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDTshort	+0.0100%	4h	0.09835	+0.041%	—	$7.9M	—
Variational Omni XPL	+0.0100%	4h	0.09825	−0.061%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09768	−0.644%	$258K	$840K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09770	−0.620%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09839	+0.084%	$132K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09810	−0.214%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09830	−0.010%	$198	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09790	−0.417%	$142K	$242K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09834	+0.030%	$664K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09827	−0.045%	$29K	$18K	3x	as long as short
Hyperliquid XPL	+0.0110%	1h	0.09857	+0.267%	$63.7M	$47.1M	10x	as long as short
Phoenix XPL	+0.0163%	1h	0.09791	−0.407%	$198K	$655K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09802	−0.295%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09824	−0.071%	$73K	$95K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5039%	1h	0.09872	+0.416%	$572K	$1.0M	10x	as long as short