Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0190%/8h= −20.8% APRpaid last 24h −0.022%

Price spread now: Orderly against ApeX Omni−0.338%7-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 Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.212%−$21 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 −$6 a day on $10k at the current rate, and Orderly is 0.338% cheaper against ApeX Omni than usual: you would sell low and buy high (−$34 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	ApeX Omni XPLUSDT	0.09470	0.0100	pay 0.0013% / 1h	53m 15s	$25K	$68K	50x
Short	Orderly PERP_XPL_USDC	0.09438	−0.0090	pay 0.0045% / 4h	1h 53m	$30K	$185K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.338%Rate

Funding earned: −$39.84
Price spread: −0.338% → 0.000%: −$33.79
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$89.63
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: ApeX Omni: 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 ApeX Omni no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

ApeX Omni 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 exchanges

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	−0.0672%	1h	0.09440	−0.317%	$4.3M	$3.0M	10x	as long as short
01 Exchange XPLUSD	−0.0600%	1h	0.09439	−0.327%	$549	$873	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0596%	1h	0.09443	−0.285%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0419% / S +0.0678%	1h	0.09450	−0.209%	$105K	—	100x	as long as short
Bybit XPLUSDT	−0.0266%	4h	0.09447	−0.243%	$44.6M	$52.2M	75x	as long as short
Extended XPL-USD	−0.0152%	1h	0.09440	−0.318%	$597K	$1.1M	25x	as long as short
Paradex XPL-USD-PERP	−0.0121%	8h	0.09452	−0.191%	$12K	$696	5x	as long as short
Orderly PERP_XPL_USDCshort	−0.0090%	4h	0.09438	−0.338%	$30K	$185K	10x
OKX XPL-USDT-SWAP	−0.0054%	4h	0.09445	−0.264%	$7.4M	$46.4M	50x	as long as short
Binance XPLUSDT	−0.0029%	4h	0.09449	−0.222%	$43.4M	$95.7M	75x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC XPL_USDT	−0.0026%	4h	0.09449	−0.222%	$13.2M	$6.3M	100x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.056%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09452	−0.191%	$71K	—	150x	as long as short
Gate XPL_USDT	+0.0012%	4h	0.09445	−0.264%	$2.9M	$3.2M	75x	as long as short
Backpack XPL_USDC_PERP	+0.0038%	1h	0.09452	−0.190%	$180K	$170K	10x	as long as short
Aevo XPL-PERP	+0.0072%	1h	0.09440	−0.317%	$28K	$18K	3x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09446	−0.253%	$1.2M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09459	−0.120%	$60.0M	$41.8M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09453	−0.180%	$252K	$361K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09465	−0.052%	$216K	$46K	10x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09445	−0.264%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09453	−0.180%	$8.8M	$9.9M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09444	−0.275%	—	$7.7M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09453	−0.179%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09460	−0.106%	$259K	$1.3M	10x	as long as short
ApeX Omni XPLUSDTlong	+0.0100%	1h	0.09470	long leg	$25K	$68K	50x
Polymarket Perps XPL-USD	+0.0100%	1h	0.09458	−0.127%	$124K	$1.2M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09420	−0.528%	$2K	$1.5M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09440	−0.317%	$178	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09461	−0.095%	$134K	$211K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09455	−0.158%	$138K	$5K	10x	as long as short
BloFin XPL-USDT	+0.0213%	4h	0.09450	−0.211%	$1.7M	$825K	75x	as long as short
Phoenix XPL	+0.0252%	1h	0.09471	+0.011%	$191K	$435K	10x	as long as short
dYdX XPL-USD	+0.0425%	1h	0.09468	−0.020%	$9K	$600	5x	as long as short
Coinbase International XPL-PERP-INTX	+0.0712%	1h	0.09538	+0.718%	$64K	$91K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.1351%	1h	0.09470	−0.002%	$552K	$996K	10x	as long as short