Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against Binance−0.010%7-day average +0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$850.853% of the position

Long on Binance Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.029%+$3 on $10k

Price spread, last 7 days+0.026%+$3 · spread now −0.010%, 7d avg +0.018%

Together, before fees+0.055%+$5 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: KuCoin is 0.028% cheaper against Binance than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XPLUSDT	0.09820	0.0100	pay 0.0050% / 4h	3h 03m	$45.0M	$108.8M	75x
Short	KuCoin XPLUSDTM	0.09819	0.0100	get 0.0050% / 4h	3h 03m	$2.4M	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.010%Rate

Funding earned: $0
Price spread: −0.010% → +0.018%: −$2.81
Slippage, 4 orders: −$63.34
Fee Binance: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$88.15
Costs to cover: 0.853%
Break-even: never at this rate

Slippage from Binance: live order book, 10 min ago; KuCoin: live order book, 4 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, 10 min ago	0.50 bp	10.4 bp −$10	25.2 bp −$252	129.7 bp −$13.0K	doesn't fit
Sell KuCoin live order book, 4 min ago	10.63 bp	32.6 bp −$33	151.6 bp −$1,516	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
Deribit XPL_USDC-PERPETUAL	−0.0360%	1h	0.09823	+0.031%	$47K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0200%	1h	0.09822	+0.020%	$571	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0177% / S +0.0549%	1h	0.09824	+0.044%	$113K	—	100x	as long as short
Lighter XPL	0.0000%	1h	0.09807	−0.132%	$4.4M	$4.2M	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09829	+0.089%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.909%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09826	+0.064%	$59K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0016%	4h	0.09819	−0.010%	$30K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0050%	8h	0.09825	+0.047%	$13K	$2K	5x	as long as short
OKX XPL-USDT-SWAP	+0.0065%	4h	0.09819	−0.010%	$8.7M	$55.6M	50x	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	0.09817	−0.031%	$1.3M	$2.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09830	+0.098%	$259K	$539K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09830	+0.104%	$224K	$46K	10x	as long as short
Binance XPLUSDTlong	+0.0100%	4h	0.09820	long leg	$45.0M	$108.8M	75x
Bybit XPLUSDT	+0.0100%	4h	0.09821	+0.010%	$47.8M	$56.2M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09909	+0.907%	$144K	$2K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09812	−0.081%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09810	−0.102%	$13.1M	$7.7M	100x	as long as short
KuCoin XPLUSDTMshort	+0.0100%	4h	0.09819	−0.010%	$2.4M	$1.5M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09827	+0.071%	$8.8M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09815	−0.051%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09821	+0.010%	$185K	$244K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09881	+0.618%	$1.8M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09890	+0.710%	$262K	$844K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09890	+0.713%	$26K	$89K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09829	+0.096%	$132K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09810	−0.102%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09820	0.000%	$494	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09895	+0.764%	$143K	$243K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09820	+0.003%	$666K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09821	+0.011%	$29K	$18K	3x	as long as short
Hyperliquid XPL	+0.0160%	1h	0.09829	+0.092%	$63.7M	$47.0M	10x	as long as short
Phoenix XPL	+0.0163%	1h	0.09897	+0.784%	$200K	$655K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09821	+0.010%	$1.8M	$1.1M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09980	+1.629%	$74K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5042%	1h	0.09866	+0.469%	$570K	$1.0M	10x	as long as short