Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0032%/8h= −3.6% APRpaid last 24h −0.017%

Price spread now: Orderly against Aevo−0.082%7-day average — · you buy dearer than you sell

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

Long on Aevo Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 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 against this trade now: funding costs −$1 a day on $10k at the current rate, and Orderly is 0.082% cheaper against Aevo than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo XPL-PERP	0.09720	0.0104	pay 0.0013% / 1h	19m 50s	$38K	$5K	3x
Short	Orderly PERP_XPL_USDC	0.09712	0.0072	get 0.0036% / 4h	1h 19m	$29K	$335K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Aevo. 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 AevobpFee OrderlybpOrdersPrice spread, now −0.082%Rate

Funding earned: −$6.82
Price spread: −0.082% → 0.000%: −$8.23
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$37.05
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Aevo: 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 Aevo no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Aevo 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
Backpack XPL_USDC_PERP	−0.0306%	1h	0.09720	0.000%	$177K	$282K	10x	as long as short
Lighter XPL	−0.0232%	1h	0.09706	−0.144%	$4.4M	$4.1M	10x	as long as short
01 Exchange XPLUSD	−0.0224%	1h	0.09715	−0.051%	$565	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0161%	1h	0.09717	−0.031%	$47K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0111% / S +0.0506%	1h	0.09721	+0.015%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09731	+0.112%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.114%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09723	+0.027%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDCshort	+0.0072%	4h	0.09712	−0.082%	$29K	$335K	10x
Paradex XPL-USD-PERP	+0.0082%	8h	0.09722	+0.025%	$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	0.09721	+0.010%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09732	+0.123%	$62.9M	$47.8M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09725	+0.046%	$251K	$526K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09727	+0.068%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09715	−0.055%	$43.8M	$106.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09715	−0.051%	$47.9M	$54.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09713	−0.072%	$8.9M	$53.9M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09725	+0.047%	$142K	$9K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09713	−0.072%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09717	−0.031%	$12.6M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09722	+0.021%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09726	+0.062%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09714	−0.062%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09717	−0.028%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09766	+0.472%	$260K	$787K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09780	+0.617%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09728	+0.078%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09700	−0.206%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09710	−0.103%	$447	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09713	−0.072%	$138K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09715	−0.050%	$660K	$1.1M	25x	as long as short
Aevo XPL-PERPlong	+0.0104%	1h	0.09720	long leg	$38K	$5K	3x
BloFin XPL-USDT	+0.0340%	4h	0.09748	+0.288%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09744	+0.247%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09760	+0.412%	$72K	$104K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4594%	1h	0.09771	+0.530%	$561K	$996K	10x	as long as short