Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0382%/8h= +41.8% APRpaid last 24h +0.037%

Price spread now: Orderly against 01 Exchange+0.083%7-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 Orderly

What this pair did over the last

the charts below follow

Funding, last 4 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 +$11 a day on $10k at the current rate, and Orderly is 0.083% dearer against 01 Exchange than usual: you sell high and buy low: +$8 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange XPLUSD	0.09604	−0.0368	get 0.0046% / 1h	20m 03s	$558	$708	5x
Short	Orderly PERP_XPL_USDC	0.09612	0.0014	get 0.0007% / 4h	20m 03s	$29K	$339K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.083%Rate

Funding earned: $80.17
Price spread: +0.083% → 0.000%: $8.33
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: $75.5
Costs to cover: 0.130%
Break-even: 0.4 days

Slippage unknown: 01 Exchange: no order-book sample; Orderly: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—

01 Exchange and Orderly: 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
01 Exchange XPLUSDlong	−0.0368%	1h	0.09604	long leg	$558	$708	5x
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0616%	1h	0.09618	+0.143%	$106K	—	100x	as long as short
Bybit XPLUSDT	−0.0092%	4h	0.09612	+0.083%	$45.5M	$54.7M	75x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0062%	1h	0.09615	+0.115%	$46K	$18K	25x	as long as short
Backpack XPL_USDC_PERP	−0.0031%	1h	0.09618	+0.146%	$178K	$223K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09620	+0.168%	$9K	$585	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.172%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09619	+0.161%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDCshort	+0.0014%	4h	0.09612	+0.083%	$29K	$339K	10x
Paradex XPL-USD-PERP	+0.0080%	8h	0.09616	+0.124%	$12K	$2K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPL	+0.0096%	1h	0.09607	+0.031%	$4.3M	$3.3M	10x	as long as short
Gate XPL_USDT	+0.0098%	4h	0.09616	+0.125%	$3.0M	$3.6M	75x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09616	+0.125%	$1.2M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09629	+0.256%	$60.7M	$46.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09622	+0.183%	$242K	$469K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09623	+0.196%	$220K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09615	+0.115%	$43.7M	$103.3M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09615	+0.115%	$8.3M	$49.4M	50x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09614	+0.104%	$12.3M	$7.8M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09607	+0.031%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09619	+0.156%	$8.6M	$10.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09612	+0.083%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09603	−0.013%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09624	+0.210%	$253K	$983K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09640	+0.375%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09623	+0.194%	$124K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09600	−0.042%	$3K	$1.8M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09610	+0.062%	$200	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09624	+0.208%	$141K	$206K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09630	+0.271%	$140K	$5K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09612	+0.083%	$653K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09613	+0.090%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0334%	1h	0.09626	+0.229%	$195K	$617K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09609	+0.052%	$1.7M	$983K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0616%	1h	0.09676	+0.750%	$75K	$87K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3304%	1h	0.09656	+0.538%	$547K	$975K	10x	as long as short