Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0026%/8h= +2.8% APRpaid last 24h +0.030%

Price spread now: SunX against dYdX−0.361%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 SunX

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. SunX is 0.361% cheaper against dYdX than usual: you would sell low and buy high (spread −0.361% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$36 on $10k: about 47 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX XPL-USD	0.09414	0.0074	pay 0.0009% / 1h	7m 52s	$9K	$1K	5x
Short	SunX XPL-USDT	0.09380	0.0100	get 0.0050% / 4h	1h 07m	$2K	$1.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.361%Rate

Funding earned: $5.4
Price spread: −0.361% → 0.000%: −$36.07
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$48.67
Costs to cover: 0.180%
Break-even: 70.1 days

Slippage unknown: dYdX: no order-book sample; SunX: live order book, 11 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 SunX live order book, 11 min ago	31.98 bp	141.6 bp −$142	doesn't fit	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 exchanges

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
01 Exchange XPLUSD	−0.0776%	1h	0.09377	−0.393%	$545	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0475% / S +0.0710%	1h	0.09394	−0.214%	$104K	—	100x	as long as short
Bybit XPLUSDT	−0.0350%	4h	0.09391	−0.244%	$44.0M	$54.9M	75x	as long as short
Lighter XPL	−0.0320%	1h	0.09386	−0.297%	$4.3M	$3.1M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0282%	1h	0.09393	−0.223%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	−0.0130%	4h	0.09390	−0.254%	$30K	$112K	10x	as long as short
Paradex XPL-USD-PERP	−0.0091%	8h	0.09406	−0.082%	$12K	$696	5x	as long as short
MEXC XPL_USDT	−0.0060%	4h	0.09392	−0.233%	$12.7M	$6.7M	100x	as long as short
Binance XPLUSDT	−0.0060%	4h	0.09388	−0.272%	$43.1M	$98.7M	75x	as long as short
OKX XPL-USDT-SWAP	−0.0011%	4h	0.09393	−0.223%	$7.1M	$48.1M	50x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−19.583%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09399	−0.163%	$71K	—	150x	as long as short
Backpack XPL_USDC_PERP	+0.0020%	1h	0.09398	−0.170%	$184K	$173K	10x	as long as short
Extended XPL-USD	+0.0048%	1h	0.09388	−0.276%	$592K	$1.1M	25x	as long as short
Gate XPL_USDT	+0.0056%	4h	0.09395	−0.201%	$2.8M	$3.3M	75x	as long as short
Aevo XPL-PERP	+0.0064%	1h	0.09390	−0.254%	$28K	$18K	3x	as long as short
dYdX XPL-USDlong	+0.0074%	1h	0.09414	long leg	$9K	$1K	5x
Nado XPL-PERP	+0.0100%	1h	0.09395	−0.204%	$1.2M	$2.3M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09411	−0.036%	$59.0M	$42.9M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09390	−0.250%	$242K	$380K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09410	−0.042%	$209K	$52K	10x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09390	−0.254%	$137K	$5K	10x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09386	−0.297%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09400	−0.148%	$8.8M	$10.2M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09389	−0.265%	—	$7.7M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09387	−0.285%	$1.8M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09393	−0.226%	$251K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09390	−0.254%	$24K	$67K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09396	−0.190%	$37K	$1.3M	10x	as long as short
SunX XPL-USDTshort	+0.0100%	4h	0.09380	−0.361%	$2K	$1.5M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09390	−0.254%	$177	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09400	−0.148%	$132K	$218K	20x	as long as short
BloFin XPL-USDT	+0.0177%	4h	0.09424	+0.107%	$1.7M	$862K	75x	as long as short
Phoenix XPL	+0.0252%	1h	0.09407	−0.074%	$190K	$435K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0712%	1h	0.09455	+0.436%	$63K	$86K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.1358%	1h	0.09421	+0.073%	$554K	$1.0M	10x	as long as short