Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: OKX against dYdX−0.151%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 OKX

What this pair did over the last

the charts below follow

Funding, last 6 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. OKX is 0.151% cheaper against dYdX than usual: you would sell low and buy high (spread −0.151% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$15 on $10k: about 5.0 days 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	0.09630	0	get 0.0000% / 1h	1m 04s	$9K	$600	5x
Short	OKX XPL-USDT-SWAP	0.09615	0.0100	get 0.0050% / 4h	1h 01m	$7.8M	$47.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.151%Rate

Funding earned: $21
Price spread: −0.151% → 0.000%: −$15.13
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$14.13
Costs to cover: 0.200%
Break-even: 11.7 days

Slippage unknown: dYdX: no order-book sample; OKX: live order book, 3 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 OKX live order book, 3 min ago	0.52 bp	10.6 bp −$11	29.6 bp −$296	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	−0.1152%	1h	0.09607	−0.234%	$4.3M	$3.2M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09625	−0.044%	$106K	—	100x	as long as short
01 Exchange XPLUSD	−0.0312%	1h	0.09613	−0.172%	$559	$873	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0269%	1h	0.09622	−0.079%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	−0.0009%	4h	0.09618	−0.120%	$30K	$246K	10x	as long as short
dYdX XPL-USDlong	0.0000%	1h	0.09630	long leg	$9K	$600	5x
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.379%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09627	−0.028%	$73K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0055%	8h	0.09620	−0.104%	$13K	$696	5x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09636	+0.071%	$60.9M	$46.1M	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	0.09628	−0.020%	$254K	$420K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09630	+0.005%	$220K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09616	−0.140%	$43.7M	$97.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09618	−0.120%	$45.9M	$53.4M	75x	as long as short
OKX XPL-USDT-SWAPshort	+0.0100%	4h	0.09615	−0.151%	$7.8M	$47.9M	50x
Bulk XPL-USD	+0.0100%	1h	0.09655	+0.264%	$141K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09620	−0.099%	$3.0M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09617	−0.131%	$12.6M	$6.8M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09618	−0.120%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09628	−0.016%	$9.0M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09617	−0.131%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09622	−0.079%	$180K	$187K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09647	+0.179%	$1.8M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09617	−0.128%	$262K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09650	+0.212%	$25K	$75K	50x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09622	−0.081%	$1.3M	$2.2M	10x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09628	−0.016%	$126K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09600	−0.307%	$2K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09620	−0.099%	$196	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09607	−0.234%	$133K	$213K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09615	−0.148%	$604K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09620	−0.099%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09660	+0.316%	$196K	$506K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09618	−0.120%	$1.7M	$934K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.09718	+0.918%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2836%	1h	0.09654	+0.253%	$548K	$932K	10x	as long as short