Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: Aster against dYdX−0.028%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on Aster

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—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. Aster is 0.028% cheaper against dYdX than usual: you would sell low and buy high (spread −0.028% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 22 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX XPL-USD	0.09788	0	get 0.0000% / 1h	56m 18s	$8K	—	5x
Short	Aster XPLUSDT	0.09786	0.0100	get 0.0050% / 4h	3h 56m	$254K	$528K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against dYdX. 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 dYdXbpFee AsterbpOrdersPrice spread, now −0.028%Rate

Funding earned: $21
Price spread: −0.028% → 0.000%: −$2.8
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: $0.2
Costs to cover: 0.180%
Break-even: 6.9 days

Slippage unknown: dYdX: no order-book sample; Aster: live order book, 16 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 dYdX no order-book sample	—	—	—	—	—
Sell Aster live order book, 16 min ago	5.67 bp	17.1 bp −$17	102.3 bp −$1,023	doesn't fit	doesn't fit

dYdX: 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
Lighter XPL	−0.0416%	1h	0.09776	−0.127%	$4.4M	$4.2M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0363%	1h	0.09779	−0.096%	$47K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0184%	1h	0.09774	−0.147%	$568	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0152% / S +0.0533%	1h	0.09781	−0.075%	$113K	—	100x	as long as short
dYdX XPL-USDlong	0.0000%	1h	0.09788	long leg	$8K	—	5x
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.660%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09783	−0.052%	$76K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0024%	8h	0.09789	+0.001%	$13K	$2K	5x	as long as short
Orderly PERP_XPL_USDC	+0.0034%	4h	0.09775	−0.137%	$29K	$335K	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09771	−0.173%	$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
Hyperliquid XPL	+0.0100%	1h	0.09790	+0.016%	$63.2M	$48.2M	10x	as long as short
Aster XPLUSDTshort	+0.0100%	4h	0.09786	−0.028%	$254K	$528K	20x
Pacifica XPL	+0.0100%	1h	0.09792	+0.035%	$223K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09778	−0.107%	$44.6M	$108.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09782	−0.066%	$47.4M	$55.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09777	−0.117%	$8.7M	$55.3M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09796	+0.073%	$143K	$4K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09786	−0.025%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09777	−0.117%	$12.8M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09785	−0.035%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09785	−0.035%	$8.8M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09776	−0.127%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09792	+0.036%	$181K	$282K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09784	−0.043%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09788	+0.001%	$259K	$814K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09800	+0.118%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09784	−0.047%	$131K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09760	−0.290%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09780	−0.086%	$201	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09784	−0.045%	$142K	$241K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09777	−0.115%	$658K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09787	−0.015%	$38K	$5K	3x	as long as short
Phoenix XPL	+0.0327%	1h	0.09811	+0.231%	$199K	$655K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09791	+0.026%	$1.7M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09815	+0.271%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5059%	1h	0.09834	+0.467%	$569K	$1.0M	10x	as long as short