Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: OKX against BingX+0.031%7-day average +0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$560.562% of the position

Long on BingX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.063%−$6 on $10k

Price spread, last 7 days−0.015%−$2 · spread now +0.031%, 7d avg +0.012%

Together, before fees−0.079%−$8 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	0.09676	0.0100	pay 0.0050% / 4h	2h 06m	—	$7.9M	—
Short	OKX XPL-USDT-SWAP	0.09679	0.0100	get 0.0050% / 4h	2h 06m	$8.9M	$53.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.031%Rate

Funding earned: $0
Price spread: +0.031% → +0.012%: $1.91
Slippage, 4 orders: −$36.23
Fee BingX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$54.32
Costs to cover: 0.562%
Break-even: never at this rate

Slippage from BingX: live order book, 1 min ago; OKX: 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, 1 min ago	1.03 bp	11.0 bp −$11	26.5 bp −$265	86.0 bp −$8,598	doesn't fit
Sell OKX live order book, 2 min ago	0.51 bp	11.4 bp −$11	35.7 bp −$357	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
GMX XPL/USD [WBTC.b-USDC]	L −0.0088% / S +0.0491%	1h	0.09695	+0.198%	$112K	—	100x	as long as short
Lighter XPL	−0.0080%	1h	0.09683	+0.072%	$4.4M	$4.3M	10x	as long as short
Backpack XPL_USDC_PERP	−0.0078%	1h	0.09693	+0.176%	$177K	$283K	10x	as long as short
01 Exchange XPLUSD	−0.0064%	1h	0.09691	+0.155%	$563	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0059%	1h	0.09696	+0.207%	$46K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09700	+0.243%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.760%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09697	+0.217%	$71K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0083%	4h	0.09691	+0.155%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0089%	8h	0.09689	+0.134%	$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	0.09699	+0.238%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09706	+0.312%	$62.3M	$47.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09696	+0.208%	$251K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09702	+0.266%	$220K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09677	+0.007%	$43.6M	$105.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09676	0.000%	$47.1M	$53.6M	75x	as long as short
OKX XPL-USDT-SWAPshort	+0.0100%	4h	0.09679	+0.031%	$8.9M	$53.1M	50x
Gate XPL_USDT	+0.0100%	4h	0.09698	+0.227%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09685	+0.093%	$12.6M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09678	+0.021%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09683	+0.072%	$8.5M	$11.1M	75x	as long as short
BingX XPL-USDTlong	+0.0100%	4h	0.09676	long leg	—	$7.9M	—
Variational Omni XPL	+0.0100%	4h	0.09696	+0.209%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09704	+0.287%	$262K	$775K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09720	+0.455%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09703	+0.281%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09680	+0.041%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09690	+0.145%	$199	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09703	+0.279%	$138K	$246K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09695	+0.196%	$140K	$11K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09680	+0.044%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09696	+0.212%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09693	+0.176%	$1.7M	$1.1M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09742	+0.682%	$197K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09783	+1.106%	$74K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3506%	1h	0.09752	+0.786%	$514K	$945K	10x	as long as short