Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Pacifica against BingX+0.155%7-day average +0.042% · you sell dearer than you buy

Net, funding: paid 7d − costs−$92as in the Funding arb table

Net, price: spread back to 7d avg − costs−$81as in the Price arb table

costs, in and out, $10k−$920.923% of the position

Long on BingX Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.005%+$1 on $10k

Price spread, last 4 days (all we have)−0.787%−$79 · spread now +0.155%, 7d avg +0.042%

Together, before fees−0.781%+ Points / potential airdropPacifica: Active · farm board−$78 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: Pacifica is 0.113% dearer against BingX than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of +0.042%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX XPL-USDT	0.09665	0.0100	pay 0.0050% / 4h	3h 57m	—	$7.9M	—
Short	Pacifica XPL	0.09680	0.0100	get 0.0013% / 1h	57m 35s	$221K	$46K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.155%Rate

Funding earned: $0
Price spread: +0.155% → +0.042%: $11.3
Slippage, 4 orders: −$74.32
Fee BingX: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$81.02
Costs to cover: 0.923%
Break-even: never at this rate

Slippage from BingX: live order book, 5 min ago; Pacifica: live order book, 60 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, 5 min ago	5.70 bp	14.5 bp −$15	26.4 bp −$264	87.6 bp −$8,760	doesn't fit
Sell Pacifica live order book, 60 min ago	15.70 bp	39.2 bp −$39	doesn't fit	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	−0.0480%	1h	0.09658	−0.072%	$562	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0370%	1h	0.09664	−0.010%	$46K	$18K	25x	as long as short
Backpack XPL_USDC_PERP	−0.0312%	1h	0.09671	+0.062%	$179K	$223K	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0304% / S +0.0610%	1h	0.09667	+0.025%	$107K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09677	+0.125%	$9K	$585	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.667%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09668	+0.027%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0017%	4h	0.09663	−0.021%	$29K	$339K	10x	as long as short
Paradex XPL-USD-PERP	+0.0058%	8h	0.09679	+0.146%	$13K	$2K	5x	as long as short
Lighter XPL	+0.0096%	1h	0.09673	+0.083%	$4.4M	$3.0M	10x	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	0.09673	+0.088%	$1.2M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09681	+0.163%	$61.1M	$46.9M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09685	+0.202%	$252K	$469K	20x	as long as short
Pacifica XPLshort	+0.0100%	1h	0.09680	+0.155%	$221K	$46K	10x
Binance XPLUSDT	+0.0100%	4h	0.09667	+0.019%	$43.9M	$102.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09664	−0.010%	$45.8M	$54.6M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09667	+0.021%	$8.3M	$49.5M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09631	−0.348%	$140K	$5K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09673	+0.083%	$3.0M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09676	+0.114%	$12.5M	$7.0M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09684	+0.197%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09675	+0.103%	$8.8M	$10.0M	75x	as long as short
BingX XPL-USDTlong	+0.0100%	4h	0.09665	long leg	—	$7.9M	—
Variational Omni XPL	+0.0100%	4h	0.09669	+0.039%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09661	−0.044%	$258K	$1.0M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09670	+0.052%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09676	+0.118%	$127K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09650	−0.155%	$2K	$1.8M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09660	−0.052%	$199	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09667	+0.021%	$141K	$206K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09666	+0.008%	$653K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09664	−0.008%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0334%	1h	0.09681	+0.166%	$196K	$573K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09668	+0.031%	$1.8M	$986K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0640%	1h	0.09698	+0.341%	$75K	$84K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3104%	1h	0.09704	+0.408%	$550K	$974K	10x	as long as short