Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0366%/8h= −40.0% APRpaid last 24h −0.072%

Price spread now: Deribit against Aster−0.141%55s7-day average — · you buy dearer than you sell

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

Long on Aster Short on Deribit

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—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Deribit is 0.141% cheaper against Aster 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 55 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	Aster XPLUSDT	0.09705	0.0100	pay 0.0050% / 4h	1h 30m	$251K	$527K	20x
Short	Deribit XPL_USDC-PERPETUAL	0.09691	−0.0266	pay 0.0033% / 1h	30m 22s	$46K	$18K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Aster. 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 AsterbpFee DeribitbpOrdersPrice spread, now −0.141%Rate

Funding earned: −$76.79
Price spread: −0.141% → 0.000%: −$14.12
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$105.91
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 52 min ago; Deribit: 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 Aster live order book, 52 min ago	7.13 bp	22.8 bp −$23	163.5 bp −$1,635	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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	−0.0382%	1h	0.09691	−0.141%	$176K	$281K	10x	as long as short
Deribit XPL_USDC-PERPETUALshort	−0.0266%	1h	0.09691	−0.141%	$46K	$18K	25x
Lighter XPL	−0.0216%	1h	0.09683	−0.224%	$4.4M	$4.1M	10x	as long as short
01 Exchange XPLUSD	−0.0216%	1h	0.09703	−0.018%	$564	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0106% / S +0.0503%	1h	0.09708	+0.033%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09701	−0.039%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−21.992%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09709	+0.041%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0075%	4h	0.09703	−0.018%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0087%	8h	0.09699	−0.058%	$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	0.09699	−0.054%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09714	+0.094%	$62.9M	$47.7M	10x	as long as short
Aster XPLUSDTlong	+0.0100%	4h	0.09705	long leg	$251K	$527K	20x
Pacifica XPL	+0.0100%	1h	0.09703	−0.016%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09706	+0.013%	$43.7M	$106.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09706	+0.013%	$47.1M	$54.1M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09704	−0.007%	$8.8M	$53.5M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09688	−0.171%	$141K	$10K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09697	−0.079%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09700	−0.048%	$12.6M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09703	−0.018%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09710	+0.055%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09705	+0.003%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09693	−0.118%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09687	−0.179%	$260K	$777K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09730	+0.261%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09708	+0.030%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09670	−0.358%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09690	−0.151%	$446	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09708	+0.034%	$138K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09696	−0.087%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09710	+0.055%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09692	−0.131%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09723	+0.189%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09760	+0.570%	$72K	$104K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4605%	1h	0.09749	+0.459%	$521K	$963K	10x	as long as short