Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.006%

Price spread now: Extended against Bitget−0.027%7-day average −0.089% · you buy dearer than you sell

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$530.528% of the position

Long on Bitget Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.032%+$3 on $10k

Price spread, last 4 days (all we have)−1.114%−$111 · spread now −0.027%, 7d avg −0.089%

Together, before fees−1.082%+ Points / potential airdropExtended: Active · farm board−$108 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: Extended is 0.062% dearer against Bitget than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.089%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget XPLUSDT	0.09883	0.0100	pay 0.0050% / 4h	3h 22m	$8.7M	$11.0M	75x
Short	Extended XPL-USD	0.09880	0.0104	get 0.0013% / 1h	22m 39s	$704K	$1.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Bitget. 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 BitgetbpFee ExtendedbpOrdersPrice spread, now −0.027%Rate

Funding earned: $0.84
Price spread: −0.027% → −0.089%: $6.18
Slippage, 4 orders: −$35.79
Fee Bitget: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$45.77
Costs to cover: 0.528%
Break-even: 388.4 days

Slippage from Bitget: live order book, 6 min ago; Extended: live order book, 1 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 Bitget live order book, 6 min ago	6.56 bp	21.2 bp −$21	42.7 bp −$427	doesn't fit	doesn't fit
Sell Extended live order book, 1 min ago	2.02 bp	6.8 bp −$7	18.9 bp −$189	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
Deribit XPL_USDC-PERPETUAL	−0.0054%	1h	0.09880	−0.030%	$49K	$17K	25x	as long as short
Backpack XPL_USDC_PERP	−0.0027%	1h	0.09882	−0.010%	$184K	$286K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09882	−0.006%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−23.396%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09880	−0.028%	$73K	—	150x	as long as short
01 Exchange XPLUSD	+0.0048%	1h	0.09881	−0.020%	$574	$582	5x	as long as short
Orderly PERP_XPL_USDC	+0.0076%	4h	0.09878	−0.051%	$27K	$333K	10x	as long as short
Lighter XPL	+0.0096%	1h	0.09873	−0.101%	$4.5M	$4.3M	10x	as long as short
Paradex XPL-USD-PERP	+0.0099%	8h	0.09883	0.000%	$13K	$2K	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09879	−0.035%	$1.4M	$2.6M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster XPLUSDT	+0.0100%	4h	0.09888	+0.052%	$257K	$513K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09887	+0.038%	$224K	$17K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09880	−0.029%	$45.1M	$102.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09875	−0.081%	$47.9M	$51.5M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09881	−0.020%	$9.4M	$53.0M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09887	+0.040%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09882	−0.010%	$13.5M	$7.5M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09873	−0.101%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDTlong	+0.0100%	4h	0.09883	long leg	$8.7M	$11.0M	75x
BingX XPL-USDT	+0.0100%	4h	0.09879	−0.040%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09913	+0.300%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09890	+0.067%	$268K	$720K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09890	+0.071%	$26K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09888	+0.049%	$134K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09860	−0.233%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09880	−0.030%	$208	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09895	+0.121%	$140K	$246K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09884	+0.006%	$142K	$11K	10x	as long as short
Extended XPL-USDshort	+0.0104%	1h	0.09880	−0.027%	$704K	$1.0M	25x
Aevo XPL-PERP	+0.0104%	1h	0.09880	−0.030%	$38K	$5K	3x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L +0.0202% / S +0.0036%	1h	0.09880	−0.026%	$138K	—	100x	as long as short
Phoenix XPL	+0.0318%	1h	0.09927	+0.445%	$203K	$640K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09877	−0.061%	$1.8M	$1.2M	75x	as long as short
Hyperliquid XPL	+0.0502%	1h	0.09897	+0.138%	$65.3M	$45.0M	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.09965	+0.830%	$75K	$107K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3379%	1h	0.09918	+0.356%	$295K	$704K	10x	as long as short