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: KuCoin against BingX−0.010%7-day average +0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$91as in the Price arb table

costs, in and out, $10k−$880.879% of the position

Long on BingX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.004%$0 on $10k

Price spread, last 7 days+0.017%+$2 · spread now −0.010%, 7d avg +0.017%

Together, before fees+0.021%+$2 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: KuCoin is 0.027% cheaper against BingX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX XPL-USDT	0.09622	0.0100	pay 0.0050% / 4h	1h 01m	—	$7.8M	—
Short	KuCoin XPLUSDTM	0.09621	0.0100	get 0.0050% / 4h	1h 01m	$2.3M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.010%Rate

Funding earned: $0
Price spread: −0.010% → +0.017%: −$2.73
Slippage, 4 orders: −$65.88
Fee BingX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$90.61
Costs to cover: 0.879%
Break-even: never at this rate

Slippage from BingX: live order book, 6 min ago; KuCoin: 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 BingX live order book, 6 min ago	5.71 bp	16.0 bp −$16	30.1 bp −$301	89.1 bp −$8,909	doesn't fit
Sell KuCoin live order book, 5 min ago	8.29 bp	32.1 bp −$32	157.6 bp −$1,576	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	−0.1152%	1h	0.09608	−0.145%	$4.3M	$3.2M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09629	+0.072%	$106K	—	100x	as long as short
01 Exchange XPLUSD	−0.0312%	1h	0.09620	−0.021%	$559	$873	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0269%	1h	0.09625	+0.031%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	−0.0009%	4h	0.09621	−0.010%	$30K	$246K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09630	+0.079%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.317%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09630	+0.086%	$73K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0058%	8h	0.09621	−0.006%	$13K	$696	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09621	−0.010%	$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	0.09641	+0.199%	$60.9M	$46.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09631	+0.089%	$254K	$420K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09630	+0.084%	$220K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09621	−0.014%	$43.8M	$97.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09621	−0.010%	$45.9M	$53.4M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09619	−0.031%	$7.8M	$47.9M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09655	+0.343%	$141K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09623	+0.010%	$3.0M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09621	−0.010%	$12.6M	$6.8M	100x	as long as short
KuCoin XPLUSDTMshort	+0.0100%	4h	0.09621	−0.010%	$2.3M	$1.2M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09630	+0.083%	$9.0M	$9.8M	75x	as long as short
BingX XPL-USDTlong	+0.0100%	4h	0.09622	long leg	—	$7.8M	—
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09627	+0.052%	$180K	$187K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09647	+0.258%	$1.8M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09635	+0.140%	$263K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09650	+0.291%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09635	+0.137%	$126K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09610	−0.125%	$2K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09620	−0.021%	$198	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09607	−0.156%	$133K	$213K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09619	−0.033%	$604K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09620	−0.016%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09660	+0.395%	$196K	$506K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09620	−0.021%	$1.7M	$934K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.09718	+0.998%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2835%	1h	0.09657	+0.366%	$548K	$932K	10x	as long as short