Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h 0.000%

Price spread now: Binance against ApeX Omni−0.145%79s7-day average — · you buy dearer than you sell

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

Long on ApeX Omni Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.020%−$2 on $10k

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 Binance is 0.145% cheaper against ApeX Omni than usual: you would sell low and buy high (−$14 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 79 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	ApeX Omni XPLUSDT	0.09660	0.0100	pay 0.0013% / 1h	0m 17s	$25K	$73K	50x
Short	Binance XPLUSDT	0.09646	0.0080	get 0.0040% / 4h	3h 00m	$44.2M	$97.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against ApeX Omni. 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 ApeX OmnibpFee BinancebpOrdersPrice spread, now −0.145%Rate

Funding earned: −$4.14
Price spread: −0.145% → 0.000%: −$14.49
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$38.63
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: ApeX Omni: no order-book sample; Binance: live order book, 12 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 ApeX Omni no order-book sample	—	—	—	—	—
Sell Binance live order book, 12 min ago	0.52 bp	9.7 bp −$10	21.7 bp −$217	112.9 bp −$11.3K	doesn't fit

ApeX Omni: 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
Lighter XPL	−0.1088%	1h	0.09636	−0.248%	$4.4M	$3.2M	10x	as long as short
01 Exchange XPLUSD	−0.0432%	1h	0.09642	−0.186%	$561	$873	5x	as long as short
Bybit XPLUSDT	−0.0406%	4h	0.09644	−0.166%	$45.7M	$54.0M	75x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0331% / S +0.0627%	1h	0.09651	−0.090%	$107K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0268%	1h	0.09650	−0.104%	$46K	$16K	25x	as long as short
Paradex XPL-USD-PERP	−0.0132%	8h	0.09644	−0.164%	$13K	$696	5x	as long as short
OKX XPL-USDT-SWAP	−0.0089%	4h	0.09643	−0.176%	$7.7M	$47.9M	50x	as long as short
Orderly PERP_XPL_USDC	−0.0035%	4h	0.09647	−0.135%	$30K	$220K	10x	as long as short
Extended XPL-USD	−0.0008%	1h	0.09643	−0.173%	$610K	$1.2M	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09650	−0.108%	$9K	$600	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.628%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09656	−0.045%	$73K	—	150x	as long as short
MEXC XPL_USDT	+0.0080%	4h	0.09647	−0.135%	$13.5M	$6.7M	100x	as long as short
Binance XPLUSDTshort	+0.0080%	4h	0.09646	−0.145%	$44.2M	$97.5M	75x
Nado XPL-PERP	+0.0100%	1h	0.09644	−0.168%	$1.3M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09667	+0.071%	$61.3M	$45.4M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09656	−0.042%	$255K	$398K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09655	−0.054%	$221K	$47K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09650	−0.104%	$3.0M	$3.4M	75x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09646	−0.145%	$2.4M	$1.3M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09656	−0.041%	$9.0M	$10.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09651	−0.093%	—	$7.7M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09648	−0.124%	$183K	$173K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09635	−0.262%	$1.8M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09641	−0.199%	$259K	$1.3M	10x	as long as short
ApeX Omni XPLUSDTlong	+0.0100%	1h	0.09660	long leg	$25K	$73K	50x
Polymarket Perps XPL-USD	+0.0100%	1h	0.09657	−0.031%	$127K	$1.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09640	−0.207%	$3K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09650	−0.104%	$181	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09646	−0.145%	$134K	$214K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09640	−0.207%	$140K	$0	10x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09650	−0.104%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09658	−0.021%	$195K	$494K	10x	as long as short
BloFin XPL-USDT	+0.0321%	4h	0.09634	−0.269%	$1.7M	$936K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0536%	1h	0.09712	+0.538%	$65K	$93K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2673%	1h	0.09703	+0.442%	$553K	$976K	10x	as long as short