Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: HTX against Binance−0.105%7-day average −0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$102as in the Funding arb table

Net, price: spread back to 7d avg − costs−$126as in the Price arb table

costs, in and out, $10k−$1171.171% of the position

Long on Binance Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.153%+$15 on $10k

Price spread, last 4 days (all we have)−0.108%−$11 · spread now −0.105%, 7d avg −0.017%

Together, before fees+0.045%+$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: HTX is 0.088% cheaper against Binance than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XPLUSDT	0.09617	0.0100	pay 0.0050% / 4h	1h 01m	$43.7M	$97.4M	75x
Short	HTX XPL-USDT	0.09607	0.0100	get 0.0050% / 4h	1h 01m	$133K	$213K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.105%Rate

Funding earned: $0
Price spread: −0.105% → −0.017%: −$8.81
Slippage, 4 orders: −$95.06
Fee Binance: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$125.87
Costs to cover: 1.171%
Break-even: never at this rate

Slippage from Binance: live order book, 11 min ago; HTX: live order book, 40 min ago.

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, 11 min ago	0.52 bp	12.1 bp −$12	22.4 bp −$224	131.0 bp −$13.1K	doesn't fit
Sell HTX live order book, 40 min ago	13.03 bp	74.0 bp −$74	doesn't fit	doesn't fit	doesn't fit

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	−0.1152%	1h	0.09607	−0.105%	$4.3M	$3.2M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09625	+0.085%	$106K	—	100x	as long as short
01 Exchange XPLUSD	−0.0312%	1h	0.09613	−0.043%	$559	$873	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0269%	1h	0.09622	+0.051%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	−0.0009%	4h	0.09618	+0.009%	$30K	$246K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09630	+0.129%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.277%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09627	+0.102%	$73K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0055%	8h	0.09620	+0.026%	$13K	$696	5x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09638	+0.220%	$60.9M	$46.1M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster XPLUSDT	+0.0100%	4h	0.09629	+0.118%	$254K	$420K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09630	+0.135%	$220K	$46K	10x	as long as short
Binance XPLUSDTlong	+0.0100%	4h	0.09617	long leg	$43.7M	$97.4M	75x
Bybit XPLUSDT	+0.0100%	4h	0.09618	+0.009%	$45.9M	$53.4M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09615	−0.022%	$7.8M	$47.9M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09655	+0.394%	$141K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09621	+0.040%	$3.0M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09617	−0.001%	$12.6M	$6.8M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09618	+0.009%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09628	+0.113%	$9.0M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09617	−0.001%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09627	+0.103%	$180K	$187K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09647	+0.309%	$1.8M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09617	+0.001%	$262K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09650	+0.342%	$25K	$75K	50x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09622	+0.048%	$1.3M	$2.2M	10x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09628	+0.113%	$126K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09600	−0.178%	$2K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09620	+0.030%	$196	$9K	10x	as long as short
HTX XPL-USDTshort	+0.0100%	4h	0.09607	−0.105%	$133K	$213K	20x
Extended XPL-USD	+0.0104%	1h	0.09615	−0.019%	$604K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09620	+0.030%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09660	+0.446%	$196K	$506K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09618	+0.009%	$1.7M	$934K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.09718	+1.049%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2836%	1h	0.09654	+0.383%	$548K	$932K	10x	as long as short