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: SunX against Binance−0.112%7-day average −0.172% · you buy dearer than you sell

Net, funding: paid 7d − costs−$325as in the Funding arb table

Net, price: spread back to 7d avg − costs−$321as in the Price arb table

costs, in and out, $10k−$3273.274% of the position

Long on Binance Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.024%+$2 on $10k

Price spread, last 4 days (all we have)−0.187%−$19 · spread now −0.112%, 7d avg −0.172%

Together, before fees−0.164%−$16 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: SunX is 0.060% dearer against Binance than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.172%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XPLUSDT	0.09621	0.0100	pay 0.0050% / 4h	1h 02m	$43.8M	$97.5M	75x
Short	SunX XPL-USDT	0.09610	0.0100	get 0.0050% / 4h	1h 02m	$2K	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.112%Rate

Funding earned: $0
Price spread: −0.112% → −0.172%: $5.98
Slippage, 4 orders: −$309.4
Fee Binance: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$321.42
Costs to cover: 3.274%
Break-even: never at this rate

Slippage from Binance: live order book, 10 min ago; SunX: live order book, 3 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	0.52 bp	12.1 bp −$12	22.4 bp −$224	131.0 bp −$13.1K	doesn't fit
Sell SunX live order book, 3 min ago	31.18 bp	139.0 bp −$139	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	−0.1144%	1h	0.09609	−0.122%	$4.3M	$3.2M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09629	+0.085%	$106K	—	100x	as long as short
01 Exchange XPLUSD	−0.0312%	1h	0.09620	−0.008%	$559	$873	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0269%	1h	0.09625	+0.044%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	−0.0009%	4h	0.09621	+0.003%	$30K	$246K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09630	+0.092%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.307%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09630	+0.099%	$73K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0058%	8h	0.09621	+0.007%	$13K	$696	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09621	+0.003%	$1.3M	$2.2M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid XPL	+0.0100%	1h	0.09645	+0.252%	$61.0M	$46.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09631	+0.106%	$254K	$420K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09632	+0.121%	$220K	$46K	10x	as long as short
Binance XPLUSDTlong	+0.0100%	4h	0.09621	long leg	$43.8M	$97.5M	75x
Bybit XPLUSDT	+0.0100%	4h	0.09622	+0.013%	$45.9M	$53.4M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09620	−0.008%	$7.8M	$47.9M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09655	+0.356%	$141K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09627	+0.065%	$3.0M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09624	+0.034%	$12.6M	$6.8M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09629	+0.086%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09630	+0.096%	$9.0M	$9.8M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09622	+0.013%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09626	+0.055%	$180K	$187K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09647	+0.271%	$1.8M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09635	+0.153%	$263K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09650	+0.304%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09635	+0.150%	$126K	$1.8M	10x	as long as short
SunX XPL-USDTshort	+0.0100%	4h	0.09610	−0.112%	$2K	$1.6M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09620	−0.008%	$198	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09607	−0.143%	$133K	$213K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09619	−0.020%	$604K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09620	−0.003%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09660	+0.408%	$196K	$506K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09620	−0.008%	$1.7M	$934K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.09718	+1.011%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2835%	1h	0.09657	+0.379%	$548K	$932K	10x	as long as short