Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against BingX+0.053%7-day average +0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$580.585% of the position

Long on BingX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.072%−$7 on $10k

Price spread, last 7 days−0.019%−$2 · spread now +0.053%, 7d avg +0.034%

Together, before fees−0.091%−$9 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX XPL-USDT	0.09480	0.0100	pay 0.0050% / 4h	1h 57m	—	$7.7M	—
Short	Bitget XPLUSDT	0.09485	0.0100	get 0.0050% / 4h	1h 57m	$8.9M	$9.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against BingX. 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 BingXbpFee BitgetbpOrdersPrice spread, now +0.053%Rate

Funding earned: $0
Price spread: +0.053% → +0.034%: $1.89
Slippage, 4 orders: −$36.48
Fee BingX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$56.6
Costs to cover: 0.585%
Break-even: never at this rate

Slippage from BingX: live order book, 9 min ago; Bitget: 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 BingX live order book, 9 min ago	5.78 bp	13.9 bp −$14	26.5 bp −$265	87.7 bp −$8,769	doesn't fit
Sell Bitget live order book, 4 min ago	3.16 bp	13.1 bp −$13	30.8 bp −$308	doesn't fit	doesn't fit

XPL on 36 exchanges

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	−0.0736%	1h	0.09469	−0.116%	$4.3M	$3.0M	10x	as long as short
01 Exchange XPLUSD	−0.0528%	1h	0.09465	−0.158%	$550	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0414% / S +0.0675%	1h	0.09486	+0.059%	$105K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0382%	1h	0.09486	+0.063%	$47K	$18K	25x	as long as short
Bybit XPLUSDT	−0.0251%	4h	0.09478	−0.021%	$44.8M	$51.9M	75x	as long as short
Extended XPL-USD	−0.0152%	1h	0.09474	−0.059%	$601K	$1.1M	25x	as long as short
Paradex XPL-USD-PERP	−0.0111%	8h	0.09476	−0.045%	$12K	$696	5x	as long as short
Orderly PERP_XPL_USDC	−0.0086%	4h	0.09475	−0.053%	$30K	$185K	10x	as long as short
OKX XPL-USDT-SWAP	−0.0049%	4h	0.09482	+0.021%	$7.5M	$46.2M	50x	as long as short
Binance XPLUSDT	−0.0022%	4h	0.09476	−0.042%	$43.5M	$95.5M	75x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC XPL_USDT	−0.0020%	4h	0.09477	−0.032%	$13.4M	$6.3M	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09489	+0.097%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.141%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09491	+0.118%	$72K	—	150x	as long as short
Gate XPL_USDT	+0.0022%	4h	0.09479	−0.011%	$2.9M	$3.2M	75x	as long as short
Aevo XPL-PERP	+0.0072%	1h	0.09480	0.000%	$28K	$18K	3x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09476	−0.047%	$1.2M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09490	+0.102%	$60.2M	$42.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09484	+0.042%	$253K	$360K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09485	+0.052%	$217K	$46K	10x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09486	+0.063%	$2.5M	$1.4M	50x	as long as short
Bitget XPLUSDTshort	+0.0100%	4h	0.09485	+0.053%	$8.9M	$9.9M	75x
BingX XPL-USDTlong	+0.0100%	4h	0.09480	long leg	—	$7.7M	—
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09491	+0.116%	$179K	$170K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09489	+0.098%	$1.7M	$1.7M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09495	+0.160%	$253K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09500	+0.211%	$25K	$68K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09484	+0.042%	$124K	$1.2M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09470	−0.105%	$3K	$1.5M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09480	0.000%	$180	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09487	+0.074%	$132K	$204K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09497	+0.184%	$138K	$5K	10x	as long as short
Phoenix XPL	+0.0166%	1h	0.09514	+0.359%	$192K	$434K	10x	as long as short
BloFin XPL-USDT	+0.0219%	4h	0.09494	+0.148%	$1.7M	$829K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0712%	1h	0.09538	+0.612%	$64K	$91K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.1344%	1h	0.09517	+0.389%	$544K	$976K	10x	as long as short