Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.049%

Price spread now: 01 Exchange against Binance−0.294%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Binance Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 3 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 against this trade now: funding costs −$7 a day on $10k at the current rate, and 01 Exchange is 0.294% cheaper against Binance than usual: you would sell low and buy high (−$29 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XPLUSDT	0.09862	0.0100	pay 0.0050% / 4h	3h 31m	$45.0M	$108.7M	75x
Short	01 Exchange XPLUSD	0.09833	−0.0120	pay 0.0015% / 1h	31m 56s	$572	$708	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.294%Rate

Funding earned: −$46.2
Price spread: −0.294% → 0.000%: −$29.41
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$92.61
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 11 min ago; 01 Exchange: 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, 11 min ago	0.51 bp	10.8 bp −$11	24.1 bp −$241	143.1 bp −$14.3K	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: 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 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
GMX XPL/USD [WBTC.b-USDC]	L −0.0163% / S +0.0540%	1h	0.09842	−0.204%	$113K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0120%	1h	0.09851	−0.112%	$184K	$273K	10x	as long as short
01 Exchange XPLUSDshort	−0.0120%	1h	0.09833	−0.294%	$572	$708	5x
Lighter XPL	−0.0080%	1h	0.09827	−0.355%	$4.4M	$4.2M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0055%	1h	0.09835	−0.274%	$47K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09841	−0.214%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−23.237%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09840	−0.223%	$77K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0030%	4h	0.09834	−0.284%	$30K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0045%	8h	0.09835	−0.278%	$13K	$2K	5x	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	0.09838	−0.243%	$1.5M	$2.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09838	−0.239%	$254K	$534K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09843	−0.190%	$224K	$46K	10x	as long as short
Binance XPLUSDTlong	+0.0100%	4h	0.09862	long leg	$45.0M	$108.7M	75x
Bybit XPLUSDT	+0.0100%	4h	0.09866	+0.041%	$47.9M	$55.7M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09860	−0.020%	$8.7M	$55.9M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09765	−0.981%	$142K	$2K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09850	−0.122%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09859	−0.030%	$13.0M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09861	−0.010%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09868	+0.061%	$8.8M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09861	−0.010%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09825	−0.375%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09827	−0.352%	$260K	$840K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09820	−0.426%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09846	−0.160%	$132K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09820	−0.426%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09840	−0.223%	$203	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09841	−0.213%	$143K	$243K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09858	−0.036%	$666K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09835	−0.270%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09844	−0.183%	$199K	$655K	10x	as long as short
Hyperliquid XPL	+0.0268%	1h	0.09864	+0.021%	$63.9M	$47.3M	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09832	−0.304%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09864	+0.020%	$73K	$96K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5030%	1h	0.09889	+0.279%	$572K	$1.0M	10x	as long as short