Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0436%/8h= +47.7% APRpaid last 24h +0.191%

Price spread now: Coinbase International against Binance+0.566%7-day average — · you sell dearer than you buy

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

Long on Binance Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.093%+$9 on $10k

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 +$13 a day on $10k at the current rate, and Coinbase International is 0.566% dearer against Binance than usual: you sell high and buy low: +$57 more if the spread goes back to zero (this spread has no 7-day history yet).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.093% in total (about 4.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XPLUSDT	0.09542	0.0100	pay 0.0050% / 4h	3h 44m	$43.4M	$97.8M	75x
Short	Coinbase International XPL-PERP-INTX	0.09596	0.0536	get 0.0067% / 1h	44m 49s	$64K	$92K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Binance. 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 BinancebpFee Coinbase InternationalbpOrdersPrice spread, now +0.566%Rate

Funding earned: $91.56
Price spread: +0.566% → 0.000%: $56.59
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $128.15
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: Binance: live order book, 13 min ago; Coinbase International: 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 Binance live order book, 13 min ago	0.52 bp	10.6 bp −$11	19.7 bp −$197	163.4 bp −$16.3K	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: 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	−0.1360%	1h	0.09532	−0.105%	$4.3M	$3.1M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0483%	1h	0.09548	+0.063%	$46K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0424%	1h	0.09539	−0.031%	$555	$873	5x	as long as short
Bybit XPLUSDT	−0.0301%	4h	0.09542	0.000%	$45.4M	$54.0M	75x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09552	+0.100%	$105K	—	100x	as long as short
Paradex XPL-USD-PERP	−0.0089%	8h	0.09540	−0.016%	$12K	$696	5x	as long as short
Orderly PERP_XPL_USDC	−0.0024%	4h	0.09542	0.000%	$30K	$269K	10x	as long as short
OKX XPL-USDT-SWAP	−0.0014%	4h	0.09542	0.000%	$7.6M	$47.4M	50x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09552	+0.106%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.659%	—	—	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09552	+0.103%	$72K	—	150x	as long as short
Gate XPL_USDT	+0.0086%	4h	0.09544	+0.021%	$2.9M	$3.3M	75x	as long as short
Backpack XPL_USDC_PERP	+0.0095%	1h	0.09555	+0.136%	$179K	$180K	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09542	+0.005%	$1.3M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09564	+0.226%	$60.5M	$46.0M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09551	+0.098%	$252K	$404K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09552	+0.109%	$218K	$46K	10x	as long as short
Binance XPLUSDTlong	+0.0100%	4h	0.09542	long leg	$43.4M	$97.8M	75x
MEXC XPL_USDT	+0.0100%	4h	0.09548	+0.063%	$12.5M	$6.5M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09548	+0.063%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09555	+0.136%	$9.0M	$9.8M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09544	+0.021%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09547	+0.052%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09540	−0.019%	$256K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09580	+0.398%	$25K	$74K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09555	+0.136%	$125K	$1.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09530	−0.126%	$3K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09550	+0.084%	$191	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09558	+0.168%	$132K	$210K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09540	−0.017%	$139K	$0	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09545	+0.031%	$595K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09545	+0.031%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09563	+0.220%	$194K	$494K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09544	+0.021%	$1.7M	$928K	75x	as long as short
Coinbase International XPL-PERP-INTXshort	+0.0536%	1h	0.09596	+0.566%	$64K	$92K	50x
Kraken Futures PF_XPLUSD	+0.2708%	1h	0.09578	+0.380%	$543K	$945K	10x	as long as short