Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0468%/8h= −51.2% APRpaid last 24h −0.053%

Price spread now: 01 Exchange against BingX−0.073%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on BingX Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and 01 Exchange is 0.073% cheaper against BingX than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX XPL-USDT	0.09606	0.0100	pay 0.0050% / 4h	21m 35s	—	$7.9M	—
Short	01 Exchange XPLUSD	0.09599	−0.0368	pay 0.0046% / 1h	21m 35s	$558	$708	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.073%Rate

Funding earned: −$98.28
Price spread: −0.073% → 0.000%: −$7.29
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$122.57
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 1 min ago; 01 Exchange: no order-book sample. Net counts fees only.

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	5.72 bp	16.0 bp −$16	26.3 bp −$263	91.6 bp −$9,159	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 XPLUSDshort	−0.0368%	1h	0.09599	−0.073%	$558	$708	5x
GMX XPL/USD [WBTC.b-USDC]	L −0.0312% / S +0.0615%	1h	0.09631	+0.260%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0165%	1h	0.09629	+0.239%	$46K	$18K	25x	as long as short
Bybit XPLUSDT	−0.0090%	4h	0.09605	−0.010%	$45.5M	$54.7M	75x	as long as short
Backpack XPL_USDC_PERP	−0.0005%	1h	0.09616	+0.104%	$178K	$223K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09620	+0.147%	$9K	$585	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.188%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09632	+0.267%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0013%	4h	0.09627	+0.219%	$29K	$339K	10x	as long as short
Paradex XPL-USD-PERP	+0.0080%	8h	0.09610	+0.038%	$12K	$2K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPL	+0.0096%	1h	0.09614	+0.083%	$4.4M	$3.3M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09607	+0.016%	$1.2M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09637	+0.321%	$60.8M	$46.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09632	+0.274%	$242K	$469K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09627	+0.215%	$220K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09606	0.000%	$43.6M	$103.4M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09610	+0.042%	$8.3M	$49.3M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09616	+0.104%	$3.0M	$3.6M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09617	+0.115%	$12.3M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09610	+0.042%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09614	+0.083%	$8.6M	$10.1M	75x	as long as short
BingX XPL-USDTlong	+0.0100%	4h	0.09606	long leg	—	$7.9M	—
Variational Omni XPL	+0.0100%	4h	0.09615	+0.091%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09624	+0.189%	$253K	$983K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09640	+0.354%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09620	+0.142%	$124K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09610	+0.042%	$3K	$1.8M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09620	+0.146%	$201	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09645	+0.406%	$141K	$206K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09630	+0.250%	$140K	$5K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09605	−0.010%	$653K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09627	+0.217%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0334%	1h	0.09626	+0.208%	$195K	$617K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09635	+0.302%	$1.7M	$985K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0616%	1h	0.09676	+0.729%	$75K	$87K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3300%	1h	0.09668	+0.641%	$548K	$975K	10x	as long as short