Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0572%/8h= −62.6% APRpaid last 24h −0.202%

Price spread now: Aster against Coinbase International−0.207%54s7-day average −0.679% · you buy dearer than you sell

Net, funding: paid 7d − costs−$177as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1771.772% of the position

Long on Coinbase International Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.004%$0 on $10k

Price spread, last 3 days (all we have)−0.408%−$41 · spread now −0.207%, 7d avg −0.679%

Together, before fees−0.404%+ Points / potential airdropAster: Stage 5 · farm board−$40 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.471% dearer against Coinbase International than usual: you sell high and buy low (spread −0.207% now, against its 7-day average of −0.679%): +$47 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 2.7 days. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.004% in total (about 0.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International XPL-PERP-INTX	0.09640	0.0672	pay 0.0084% / 1h	35m 19s	$74K	$93K	50x
Short	Aster XPLUSDT	0.09620	0.0100	get 0.0050% / 4h	1h 35m	$244K	$501K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Coinbase International. 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 Coinbase InternationalbpFee AsterbpOrdersPrice spread, now −0.207%Rate

Funding earned: −$120.12
Price spread: −0.207% → −0.679%: $47.13
Slippage, 4 orders: −$159.19
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$250.18
Costs to cover: 1.772%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 78 min ago; Aster: live order book, 27 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 Coinbase International live order book, 78 min ago	35.65 bp	71.4 bp −$71	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 27 min ago	5.17 bp	15.6 bp −$16	122.7 bp −$1,227	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
Backpack XPL_USDC_PERP	−0.0563%	1h	0.09628	−0.124%	$181K	$242K	10x	as long as short
01 Exchange XPLUSD	−0.0440%	1h	0.09611	−0.301%	$559	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0251% / S +0.0578%	1h	0.09630	−0.100%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0165%	1h	0.09628	−0.124%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	−0.0005%	4h	0.09624	−0.166%	$29K	$335K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09611	−0.300%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.465%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09630	−0.102%	$73K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0037%	4h	0.09627	−0.135%	$8.3M	$53.1M	50x	as long as short
Paradex XPL-USD-PERP	+0.0056%	8h	0.09615	−0.258%	$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	+0.0056%	1h	0.09602	−0.394%	$4.3M	$4.2M	10x	as long as short
Gate XPL_USDT	+0.0066%	4h	0.09619	−0.218%	$3.0M	$3.7M	75x	as long as short
Bybit XPLUSDT	+0.0068%	4h	0.09619	−0.218%	$45.6M	$56.7M	75x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09620	−0.207%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09640	−0.002%	$60.6M	$48.1M	10x	as long as short
Aster XPLUSDTshort	+0.0100%	4h	0.09620	−0.207%	$244K	$501K	20x
Pacifica XPL	+0.0100%	1h	0.09616	−0.246%	$219K	$48K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09626	−0.145%	$43.5M	$108.7M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09626	−0.145%	$12.4M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09612	−0.290%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09630	−0.104%	$8.5M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09623	−0.176%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09612	−0.294%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09596	−0.453%	$255K	$912K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09610	−0.311%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09634	−0.066%	$128K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09610	−0.311%	$3K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09620	−0.207%	$2K	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09601	−0.405%	$144K	$264K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09615	−0.259%	$140K	$7K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09611	−0.297%	$633K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09625	−0.156%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09617	−0.239%	$195K	$629K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09595	−0.467%	$1.7M	$1.0M	75x	as long as short
Coinbase International XPL-PERP-INTXlong	+0.0672%	1h	0.09640	long leg	$74K	$93K	50x
Kraken Futures PF_XPLUSD	+0.3560%	1h	0.09656	+0.162%	$548K	$1.0M	10x	as long as short