Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: MEXC against Extended+0.095%7-day average +0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$200.196% of the position

Long on Extended Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.012%+$1 on $10k

Price spread, last 7 days−0.082%−$8 · spread now +0.095%, 7d avg +0.051%

Together, before fees−0.070%+ Points / potential airdropExtended: Active · farm board−$7 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: MEXC is 0.044% dearer against Extended than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.051%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XPL-USD	0.09639	0.0104	pay 0.0013% / 1h	22m 25s	$653K	$1.1M	25x
Short	MEXC XPL_USDT	0.09648	0.0100	get 0.0050% / 4h	3h 22m	$12.7M	$7.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.095%Rate

Funding earned: −$0.84
Price spread: +0.095% → +0.051%: $4.36
Slippage, 4 orders: −$14.58
Fee Extended: 2.5 bp × 2 orders: −$5
Fee MEXC: 0 bp × 2 orders: $0
Net: −$16.06
Costs to cover: 0.196%
Break-even: never at this rate

Slippage from Extended: live order book, 1 min ago; MEXC: live order book, 6 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	2.59 bp	7.2 bp −$7	20.4 bp −$204	doesn't fit	doesn't fit
Sell MEXC live order book, 6 min ago	0.52 bp	2.3 bp −$2	7.1 bp −$71	83.8 bp −$8,383	232.1 bp −$116.1K

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
01 Exchange XPLUSD	−0.0376%	1h	0.09634	−0.050%	$560	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0304% / S +0.0610%	1h	0.09656	+0.179%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0164%	1h	0.09660	+0.219%	$46K	$18K	25x	as long as short
Backpack XPL_USDC_PERP	−0.0109%	1h	0.09662	+0.240%	$176K	$188K	10x	as long as short
Bybit XPLUSDT	−0.0028%	4h	0.09650	+0.116%	$45.7M	$54.0M	75x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09649	+0.102%	$9K	$585	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.455%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09658	+0.204%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0012%	4h	0.09649	+0.105%	$29K	$339K	10x	as long as short
Paradex XPL-USD-PERP	+0.0058%	8h	0.09640	+0.010%	$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
Lighter XPL	+0.0072%	1h	0.09635	−0.040%	$4.4M	$3.0M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09648	+0.095%	$1.2M	$2.4M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09667	+0.288%	$61.3M	$46.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09660	+0.223%	$252K	$422K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09648	+0.098%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09652	+0.134%	$43.8M	$100.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09650	+0.116%	$8.2M	$48.6M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09656	+0.178%	$141K	$5K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09649	+0.105%	$3.1M	$3.5M	75x	as long as short
MEXC XPL_USDTshort	+0.0100%	4h	0.09648	+0.095%	$12.7M	$7.0M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09656	+0.178%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09660	+0.219%	$9.0M	$9.6M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09652	+0.136%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09668	+0.299%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09666	+0.283%	$258K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09680	+0.427%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09661	+0.228%	$128K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09640	+0.012%	$2K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09660	+0.219%	$204	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09657	+0.188%	$141K	$186K	20x	as long as short
Extended XPL-USDlong	+0.0104%	1h	0.09639	long leg	$653K	$1.1M	25x
Aevo XPL-PERP	+0.0104%	1h	0.09646	+0.076%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09682	+0.448%	$196K	$573K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09658	+0.199%	$1.7M	$961K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0640%	1h	0.09685	+0.479%	$75K	$76K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3108%	1h	0.09692	+0.551%	$551K	$990K	10x	as long as short