Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0025%/8h= +2.7% APRpaid last 24h −0.030%

Price spread now: dYdX against Binance+0.350%59s7-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 dYdX

What this pair did over the last

the charts below follow

Funding, last 6 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 for this trade now. Funding pays +$1 a day on $10k at the current rate, and dYdX is 0.350% dearer against Binance than usual: you sell high and buy low: +$35 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 59 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	Binance XPLUSDT	0.09456	−0.0025	get 0.0012% / 4h	1h 56m	$43.4M	$95.5M	75x
Short	dYdX XPL-USD	0.09489	0	get 0.0000% / 1h	56m 39s	$9K	$600	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.350%Rate

Funding earned: $5.22
Price spread: +0.350% → 0.000%: $35.03
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: $20.25
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: Binance: live order book, 9 min ago; dYdX: 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, 9 min ago	0.52 bp	10.9 bp −$11	23.8 bp −$238	126.3 bp −$12.6K	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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	−0.0792%	1h	0.09470	+0.148%	$4.3M	$3.0M	10x	as long as short
01 Exchange XPLUSD	−0.0528%	1h	0.09465	+0.095%	$550	$873	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0488%	1h	0.09480	+0.253%	$47K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0414% / S +0.0675%	1h	0.09486	+0.313%	$105K	—	100x	as long as short
Bybit XPLUSDT	−0.0251%	4h	0.09457	+0.010%	$44.7M	$52.1M	75x	as long as short
Extended XPL-USD	−0.0152%	1h	0.09454	−0.017%	$601K	$1.1M	25x	as long as short
Paradex XPL-USD-PERP	−0.0117%	8h	0.09453	−0.034%	$12K	$696	5x	as long as short
Orderly PERP_XPL_USDC	−0.0086%	4h	0.09475	+0.201%	$30K	$185K	10x	as long as short
OKX XPL-USDT-SWAP	−0.0051%	4h	0.09458	+0.021%	$7.5M	$46.3M	50x	as long as short
Binance XPLUSDTlong	−0.0025%	4h	0.09456	long leg	$43.4M	$95.5M	75x

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC XPL_USDT	−0.0022%	4h	0.09456	0.000%	$13.3M	$6.3M	100x	as long as short
dYdX XPL-USDshort	0.0000%	1h	0.09489	+0.350%	$9K	$600	5x
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−19.939%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09487	+0.325%	$72K	—	150x	as long as short
Gate XPL_USDT	+0.0022%	4h	0.09458	+0.021%	$2.9M	$3.2M	75x	as long as short
Backpack XPL_USDC_PERP	+0.0032%	1h	0.09484	+0.296%	$179K	$170K	10x	as long as short
Aevo XPL-PERP	+0.0072%	1h	0.09475	+0.201%	$28K	$18K	3x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09476	+0.206%	$1.2M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09493	+0.389%	$60.2M	$42.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09470	+0.148%	$252K	$360K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09472	+0.169%	$216K	$46K	10x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09460	+0.042%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09468	+0.127%	$8.9M	$9.9M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09458	+0.021%	—	$7.7M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09489	+0.352%	$1.7M	$1.7M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09495	+0.414%	$253K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09500	+0.465%	$25K	$68K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09484	+0.296%	$124K	$1.2M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09460	+0.042%	$3K	$1.5M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09480	+0.253%	$183	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09487	+0.328%	$132K	$204K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09455	−0.011%	$138K	$5K	10x	as long as short
Phoenix XPL	+0.0166%	1h	0.09514	+0.613%	$192K	$434K	10x	as long as short
BloFin XPL-USDT	+0.0218%	4h	0.09471	+0.158%	$1.7M	$827K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0712%	1h	0.09538	+0.867%	$64K	$91K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.1345%	1h	0.09513	+0.604%	$544K	$976K	10x	as long as short