Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0236%/8h= −25.8% APRpaid last 24h −0.078%

Price spread now: Extended against BloFin−0.014%7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$91as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$420.422% of the position

Long on BloFin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.491%−$49 on $10k

Price spread, last 3 days (all we have)+0.371%+$37 · spread now −0.014%, 7d avg −0.016%

Together, before fees−0.120%+ Points / potential airdropExtended: Active · farm board−$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.016%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin XPL-USDT	0.09988	0.0340	pay 0.0170% / 4h	3h 40m	$1.8M	$1.2M	75x
Short	Extended XPL-USD	0.09987	0.0104	get 0.0013% / 1h	40m 59s	$723K	$981K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against BloFin. 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 BloFinbpFee ExtendedbpOrdersPrice spread, now −0.014%Rate

Funding earned: −$49.56
Price spread: −0.014% → −0.016%: $0.17
Slippage, 4 orders: −$25.24
Fee BloFin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$91.63
Costs to cover: 0.422%
Break-even: never at this rate

Slippage from BloFin: live order book, 7 min ago; Extended: live order book, 7 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 BloFin live order book, 7 min ago	1.50 bp	12.1 bp −$12	24.7 bp −$247	83.5 bp −$8,354	doesn't fit
Sell Extended live order book, 7 min ago	1.50 bp	11.1 bp −$11	22.6 bp −$226	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
dYdX XPL-USD	0.0000%	1h	0.09983	−0.049%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−24.204%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09993	+0.050%	$50K	$17K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09993	+0.052%	$74K	—	150x	as long as short
Backpack XPL_USDC_PERP	+0.0043%	1h	0.09994	+0.060%	$184K	$281K	10x	as long as short
01 Exchange XPLUSD	+0.0048%	1h	0.09997	+0.090%	$581	$582	5x	as long as short
Orderly PERP_XPL_USDC	+0.0075%	4h	0.09988	0.000%	$28K	$333K	10x	as long as short
Lighter XPL	+0.0096%	1h	0.09987	−0.010%	$4.5M	$4.2M	10x	as long as short
Paradex XPL-USD-PERP	+0.0098%	8h	0.09987	−0.010%	$13K	$2K	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09986	−0.018%	$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	0.09993	+0.053%	$262K	$509K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09992	+0.041%	$226K	$17K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09997	+0.088%	$45.7M	$101.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09990	+0.020%	$48.8M	$50.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09990	+0.020%	$9.5M	$53.4M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09991	+0.030%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09993	+0.050%	$13.8M	$7.4M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09988	0.000%	$2.5M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09997	+0.090%	$8.8M	$11.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09993	+0.050%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09968	−0.204%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09969	−0.188%	$262K	$711K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09970	−0.180%	$26K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.1000	+0.130%	$135K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09970	−0.180%	$3K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09990	+0.020%	$208	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09976	−0.120%	$141K	$246K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09969	−0.192%	$144K	$11K	10x	as long as short
Extended XPL-USDshort	+0.0104%	1h	0.09987	−0.014%	$723K	$981K	25x
Aevo XPL-PERP	+0.0104%	1h	0.09992	+0.042%	$39K	$5K	3x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L +0.0205% / S +0.0037%	1h	0.09993	+0.048%	$140K	—	100x	as long as short
Phoenix XPL	+0.0318%	1h	0.09984	−0.040%	$205K	$640K	10x	as long as short
BloFin XPL-USDTlong	+0.0340%	4h	0.09988	long leg	$1.8M	$1.2M	75x
Hyperliquid XPL	+0.0632%	1h	0.1001	+0.260%	$66.3M	$44.7M	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.1013	+1.422%	$77K	$108K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3345%	1h	0.1002	+0.327%	$296K	$702K	10x	as long as short