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: HTX against BingX−0.145%7-day average −0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$144as in the Funding arb table

Net, price: spread back to 7d avg − costs−$173as in the Price arb table

costs, in and out, $10k−$1591.593% of the position

Long on BingX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.155%+$15 on $10k

Price spread, last 3 days (all we have)−0.045%−$5 · spread now −0.145%, 7d avg −0.005%

Together, before fees+0.109%+$11 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: HTX is 0.140% cheaper against BingX than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of −0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX XPL-USDT	0.09634	0.0100	pay 0.0050% / 4h	1h 55m	—	$7.9M	—
Short	HTX XPL-USDT	0.09620	0.0100	get 0.0050% / 4h	1h 55m	$143K	$250K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.145%Rate

Funding earned: $0
Price spread: −0.145% → −0.005%: −$13.98
Slippage, 4 orders: −$137.26
Fee BingX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$173.24
Costs to cover: 1.593%
Break-even: never at this rate

Slippage from BingX: live order book, 12 min ago; HTX: live order book, 6 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, 12 min ago	5.69 bp	15.0 bp −$15	27.5 bp −$275	89.0 bp −$8,900	doesn't fit
Sell HTX live order book, 6 min ago	14.47 bp	69.9 bp −$70	doesn't fit	doesn't fit	doesn't fit

XPL on 35 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
Backpack XPL_USDC_PERP	−0.0628%	1h	0.09661	+0.280%	$178K	$241K	10x	as long as short
01 Exchange XPLUSD	−0.0408%	1h	0.09671	+0.384%	$562	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0212% / S +0.0571%	1h	0.09676	+0.435%	$111K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0163%	1h	0.09672	+0.394%	$46K	$18K	25x	as long as short
Lighter XPL	−0.0064%	1h	0.09652	+0.187%	$4.4M	$4.2M	10x	as long as short
Orderly PERP_XPL_USDC	−0.0002%	4h	0.09669	+0.363%	$29K	$335K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09674	+0.419%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.418%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09673	+0.401%	$55K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0037%	4h	0.09642	+0.083%	$8.3M	$53.2M	50x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPL-USD-PERP	+0.0043%	8h	0.09683	+0.504%	$13K	$2K	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09672	+0.394%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09663	+0.296%	$61.4M	$47.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09657	+0.236%	$246K	$499K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09673	+0.409%	$220K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09637	+0.033%	$43.7M	$107.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09632	−0.021%	$46.3M	$55.7M	75x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09648	+0.145%	$3.0M	$3.7M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09648	+0.145%	$12.5M	$7.8M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09636	+0.021%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09646	+0.125%	$8.5M	$11.1M	75x	as long as short
BingX XPL-USDTlong	+0.0100%	4h	0.09634	long leg	—	$7.9M	—
Variational Omni XPL	+0.0100%	4h	0.09669	+0.362%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09656	+0.230%	$259K	$900K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09670	+0.374%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09683	+0.511%	$132K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09660	+0.270%	$2K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09660	+0.270%	$2K	$11K	10x	as long as short
HTX XPL-USDTshort	+0.0100%	4h	0.09620	−0.145%	$143K	$250K	20x
Bulk XPL-USD	+0.0100%	1h	0.09660	+0.270%	$141K	$7K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09640	+0.059%	$651K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09666	+0.332%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0328%	1h	0.09667	+0.343%	$196K	$620K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0672%	1h	0.09766	+1.370%	$78K	$94K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3542%	1h	0.09706	+0.746%	$550K	$1.0M	10x	as long as short