Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0662%/8h= +72.5% APRpaid last 24h +0.072%

Price spread now: SunX against Deribit−0.122%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on SunX

What this pair did over the last

the charts below follow

Funding, last 5 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

Funding pays, the price is against you. SunX is 0.122% cheaper against Deribit than usual: you would sell low and buy high (spread −0.122% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 15 hours of funding at the current rate (+$20 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit XPL_USDC-PERPETUAL	0.09842	−0.0562	get 0.0070% / 1h	30m 26s	$47K	$18K	25x
Short	SunX XPL-USDT	0.09830	0.0100	get 0.0050% / 4h	3h 30m	$3K	$2.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Deribit. 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 DeribitbpFee SunXbpOrdersPrice spread, now −0.122%Rate

Funding earned: $139.06
Price spread: −0.122% → 0.000%: −$12.19
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: $111.87
Costs to cover: 0.150%
Break-even: 1.4 days

Slippage unknown: Deribit: no order-book sample; SunX: live order book, 6 min ago. 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 Deribit no order-book sample	—	—	—	—	—
Sell SunX live order book, 6 min ago	35.62 bp	151.5 bp −$152	doesn't fit	doesn't fit	doesn't fit

Deribit: 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
Deribit XPL_USDC-PERPETUALlong	−0.0562%	1h	0.09842	long leg	$47K	$18K	25x
GMX XPL/USD [WBTC.b-USDC]	L −0.0164% / S +0.0541%	1h	0.09856	+0.143%	$114K	—	100x	as long as short
01 Exchange XPLUSD	−0.0120%	1h	0.09869	+0.274%	$574	$708	5x	as long as short
Backpack XPL_USDC_PERP	−0.0089%	1h	0.09863	+0.213%	$184K	$273K	10x	as long as short
Lighter XPL	−0.0056%	1h	0.09858	+0.163%	$4.5M	$4.2M	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09881	+0.393%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−23.080%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09857	+0.153%	$77K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0028%	4h	0.09845	+0.030%	$30K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0046%	8h	0.09875	+0.334%	$13K	$2K	5x	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	0.09861	+0.198%	$1.5M	$2.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09885	+0.437%	$255K	$534K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09875	+0.337%	$225K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09849	+0.071%	$45.0M	$108.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09845	+0.030%	$47.8M	$55.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09840	−0.020%	$8.7M	$55.7M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09765	−0.780%	$142K	$2K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09863	+0.213%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09861	+0.193%	$13.0M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09875	+0.335%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09851	+0.091%	$8.8M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09845	+0.030%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09857	+0.152%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09827	−0.149%	$260K	$840K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09840	−0.020%	$25K	$89K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09878	+0.363%	$132K	$2.7M	10x	as long as short
SunX XPL-USDTshort	+0.0100%	4h	0.09830	−0.122%	$3K	$2.0M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09840	−0.020%	$202	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09841	−0.010%	$143K	$243K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09838	−0.036%	$669K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09846	+0.042%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09844	+0.020%	$199K	$655K	10x	as long as short
Hyperliquid XPL	+0.0256%	1h	0.09885	+0.433%	$64.0M	$47.3M	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09863	+0.213%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09864	+0.224%	$73K	$96K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5031%	1h	0.09889	+0.476%	$572K	$1.0M	10x	as long as short