Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Polymarket Perps against Binance+0.112%7-day average +0.098% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$380.379% of the position

Long on Binance Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.023%−$2 on $10k

Price spread, last 7 days−0.192%−$19 · spread now +0.112%, 7d avg +0.098%

Together, before fees−0.214%−$21 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XPLUSDT	0.09684	0.0100	pay 0.0050% / 4h	3h 28m	$44.0M	$101.0M	75x
Short	Polymarket Perps XPL-USD	0.09695	0.0100	get 0.0013% / 1h	28m 29s	$129K	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.112%Rate

Funding earned: $0
Price spread: +0.112% → +0.098%: $1.38
Slippage, 4 orders: −$19.91
Fee Binance: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$36.54
Costs to cover: 0.379%
Break-even: never at this rate

Slippage from Binance: live order book, 14 min ago; Polymarket Perps: live order book, 5 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, 14 min ago	1.04 bp	11.5 bp −$12	23.6 bp −$236	126.5 bp −$12.7K	doesn't fit
Sell Polymarket Perps live order book, 5 min ago	2.63 bp	9.3 bp −$9	9.5 bp −$95	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
01 Exchange XPLUSD	−0.0368%	1h	0.09689	+0.052%	$563	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0304% / S +0.0610%	1h	0.09692	+0.081%	$107K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0266%	1h	0.09686	+0.021%	$46K	$18K	25x	as long as short
Backpack XPL_USDC_PERP	−0.0065%	1h	0.09692	+0.083%	$176K	$188K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09690	+0.057%	$9K	$585	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.821%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09692	+0.084%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0012%	4h	0.09684	0.000%	$29K	$339K	10x	as long as short
Paradex XPL-USD-PERP	+0.0052%	8h	0.09688	+0.037%	$13K	$2K	5x	as long as short
Bybit XPLUSDT	+0.0060%	4h	0.09684	0.000%	$45.8M	$54.1M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPL	+0.0096%	1h	0.09682	−0.021%	$4.4M	$3.0M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09702	+0.189%	$61.5M	$46.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09696	+0.126%	$253K	$424K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09694	+0.106%	$222K	$46K	10x	as long as short
Binance XPLUSDTlong	+0.0100%	4h	0.09684	long leg	$44.0M	$101.0M	75x
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09683	−0.010%	$8.2M	$48.8M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09688	+0.041%	$3.1M	$3.5M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09682	−0.021%	$12.8M	$7.0M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09694	+0.103%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09690	+0.062%	$8.9M	$9.6M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09688	+0.041%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09720	+0.370%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09710	+0.268%	$256K	$1.0M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09730	+0.475%	$25K	$78K	50x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09689	+0.052%	$1.2M	$2.4M	10x	as long as short
Polymarket Perps XPL-USDshort	+0.0100%	1h	0.09695	+0.112%	$129K	$2.0M	10x
SunX XPL-USDT	+0.0100%	4h	0.09670	−0.145%	$3K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09690	+0.062%	$205	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09687	+0.031%	$142K	$192K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09680	−0.041%	$141K	$5K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09685	+0.007%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09684	+0.001%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09709	+0.258%	$197K	$573K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09684	0.000%	$1.7M	$964K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0640%	1h	0.09722	+0.392%	$75K	$76K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3098%	1h	0.09721	+0.379%	$553K	$990K	10x	as long as short