Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: Nado against BingX−0.125%53s7-day average +0.072% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$460.458% of the position

Long on BingX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 7 days+0.297%+$30 · spread now −0.125%, 7d avg +0.072%

Together, before fees+0.297%+ Points / potential airdropNado: Active · farm board+$30 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: Nado is 0.196% cheaper against BingX than usual: you would sell low and buy high, −$20 on $10k if it goes back to its 7-day average of +0.072%. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX XPL-USDT	0.09624	0.0100	pay 0.0050% / 4h	1h 11m	—	$8.0M	—
Short	Nado XPL-PERP	0.09612	0.0100	get 0.0012% / 1h	11m 35s	$1.2M	$2.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.125%Rate

Funding earned: $0
Price spread: −0.125% → +0.072%: −$19.63
Slippage, 4 orders: −$28.78
Fee BingX: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$65.41
Costs to cover: 0.458%
Break-even: never at this rate

Slippage from BingX: live order book, 6 min ago; Nado: live order book, 2 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	5.18 bp	14.8 bp −$15	25.6 bp −$256	82.0 bp −$8,200	doesn't fit
Sell Nado live order book, 2 min ago	2.08 bp	8.0 bp −$8	17.8 bp −$178	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
01 Exchange XPLUSD	−0.0392%	1h	0.09619	−0.052%	$559	$708	5x	as long as short
Backpack XPL_USDC_PERP	−0.0272%	1h	0.09615	−0.094%	$178K	$231K	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0270%	1h	0.09613	−0.114%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0267% / S +0.0587%	1h	0.09617	−0.070%	$106K	—	100x	as long as short
Bybit XPLUSDT	−0.0121%	4h	0.09621	−0.031%	$45.6M	$56.7M	75x	as long as short
Orderly PERP_XPL_USDC	−0.0001%	4h	0.09610	−0.145%	$29K	$335K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09625	+0.006%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.336%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09617	−0.068%	$73K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0058%	4h	0.09628	+0.042%	$8.3M	$52.5M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPL-USD-PERP	+0.0061%	8h	0.09622	−0.017%	$13K	$2K	5x	as long as short
Lighter XPL	+0.0096%	1h	0.09619	−0.052%	$4.4M	$4.2M	10x	as long as short
Nado XPL-PERPshort	+0.0100%	1h	0.09612	−0.125%	$1.2M	$2.8M	10x
Hyperliquid XPL	+0.0100%	1h	0.09638	+0.140%	$60.5M	$48.3M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09627	+0.032%	$244K	$497K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09630	+0.062%	$220K	$48K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09628	+0.042%	$43.6M	$108.3M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09643	+0.202%	$140K	$5K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09624	0.000%	$3.0M	$3.8M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09624	0.000%	$12.5M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09618	−0.062%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09631	+0.073%	$8.5M	$11.1M	75x	as long as short
BingX XPL-USDTlong	+0.0100%	4h	0.09624	long leg	—	$8.0M	—
Variational Omni XPL	+0.0100%	4h	0.09645	+0.214%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09611	−0.134%	$253K	$930K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09620	−0.042%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09618	−0.061%	$128K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09590	−0.353%	$2K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09610	−0.145%	$2K	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09642	+0.187%	$145K	$263K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09622	−0.020%	$636K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09612	−0.128%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09660	+0.374%	$196K	$629K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09630	+0.062%	$1.7M	$1.0M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0672%	1h	0.09670	+0.478%	$75K	$93K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3561%	1h	0.09652	+0.293%	$547K	$1.0M	10x	as long as short