Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: HTX against Extended+0.299%7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$840.840% of the position

Long on Extended Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.156%+$16 on $10k

Price spread, last 4 days (all we have)−1.194%−$119 · spread now +0.299%, 7d avg +0.018%

Together, before fees−1.039%+ Points / potential airdropExtended: Active · farm board−$104 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: HTX is 0.281% dearer against Extended than usual: you sell high and buy low, +$28 on $10k if it goes back to its 7-day average of +0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XPL-USD	0.09515	0.0104	pay 0.0013% / 1h	42m 21s	$595K	$1.1M	25x
Short	HTX XPL-USDT	0.09543	0.0100	get 0.0050% / 4h	3h 42m	$132K	$210K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Extended. 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 ExtendedbpFee HTXbpOrdersPrice spread, now +0.299%Rate

Funding earned: −$0.84
Price spread: +0.299% → +0.018%: $28.12
Slippage, 4 orders: −$67.03
Fee Extended: 2.5 bp × 2 orders: −$5
Fee HTX: 6 bp × 2 orders: −$12
Net: −$56.75
Costs to cover: 0.840%
Break-even: never at this rate

Slippage from Extended: live order book, 1 min ago; HTX: live order book, 54 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 Extended live order book, 1 min ago	1.05 bp	5.8 bp −$6	20.2 bp −$202	doesn't fit	doesn't fit
Sell HTX live order book, 54 min ago	18.90 bp	43.1 bp −$43	doesn't fit	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
Lighter XPL	−0.1360%	1h	0.09506	−0.090%	$4.3M	$3.1M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0485%	1h	0.09519	+0.047%	$46K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0440%	1h	0.09512	−0.027%	$553	$873	5x	as long as short
Bybit XPLUSDT	−0.0327%	4h	0.09520	+0.057%	$45.2M	$54.0M	75x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09530	+0.158%	$105K	—	100x	as long as short
Paradex XPL-USD-PERP	−0.0102%	8h	0.09516	+0.011%	$12K	$696	5x	as long as short
Gate XPL_USDT	−0.0036%	4h	0.09520	+0.057%	$2.9M	$3.3M	75x	as long as short
OKX XPL-USDT-SWAP	−0.0025%	4h	0.09517	+0.026%	$7.6M	$47.4M	50x	as long as short
Orderly PERP_XPL_USDC	−0.0025%	4h	0.09520	+0.057%	$30K	$261K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09526	+0.125%	$9K	$600	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.430%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09525	+0.107%	$72K	—	150x	as long as short
Backpack XPL_USDC_PERP	+0.0058%	1h	0.09529	+0.152%	$178K	$180K	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09513	−0.017%	$1.3M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09539	+0.260%	$60.3M	$46.0M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09533	+0.190%	$252K	$404K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09526	+0.124%	$218K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09522	+0.077%	$43.3M	$97.8M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09522	+0.078%	$12.5M	$6.5M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09521	+0.068%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09530	+0.162%	$9.0M	$9.8M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09520	+0.057%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09547	+0.340%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09550	+0.372%	$256K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09560	+0.477%	$25K	$74K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09532	+0.183%	$125K	$1.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09510	−0.048%	$2K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09520	+0.057%	$188	$9K	10x	as long as short
HTX XPL-USDTshort	+0.0100%	4h	0.09543	+0.299%	$132K	$210K	20x
Bulk XPL-USD	+0.0100%	1h	0.09540	+0.271%	$139K	$0	10x	as long as short
Extended XPL-USDlong	+0.0104%	1h	0.09515	long leg	$595K	$1.1M	25x
Aevo XPL-PERP	+0.0104%	1h	0.09520	+0.057%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09561	+0.488%	$193K	$494K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09517	+0.026%	$1.7M	$925K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0536%	1h	0.09596	+0.856%	$64K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2716%	1h	0.09549	+0.365%	$541K	$948K	10x	as long as short