Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against HTX+0.225%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$145as in the Funding arb table

Net, price: spread back to 7d avg − costs−$105as in the Price arb table

costs, in and out, $10k−$1271.268% of the position

Long on HTX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.180%−$18 on $10k

Price spread, last 3 days (all we have)+0.102%+$10 · spread now +0.225%, 7d avg +0.004%

Together, before fees−0.077%−$8 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: BingX is 0.221% dearer against HTX than usual: you sell high and buy low, +$22 on $10k if it goes back to its 7-day average of +0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XPL-USDT	0.09794	0.0100	pay 0.0050% / 4h	2h 21m	$139K	$245K	20x
Short	BingX XPL-USDT	0.09816	0.0100	get 0.0050% / 4h	2h 21m	—	$7.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against HTX. 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 HTXbpFee BingXbpOrdersPrice spread, now +0.225%Rate

Funding earned: $0
Price spread: +0.225% → +0.004%: $22.11
Slippage, 4 orders: −$104.76
Fee HTX: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$104.65
Costs to cover: 1.268%
Break-even: never at this rate

Slippage from HTX: live order book, 64 min ago; BingX: live order book, 1 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 HTX live order book, 64 min ago	10.11 bp	16.1 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 1 min ago	4.59 bp	13.7 bp −$14	22.8 bp −$228	88.0 bp −$8,796	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
GMX XPL/USD [WBTC.b-USDC]	L −0.0080% / S +0.0486%	1h	0.09824	+0.302%	$113K	—	100x	as long as short
Lighter XPL	−0.0056%	1h	0.09810	+0.163%	$4.4M	$4.3M	10x	as long as short
01 Exchange XPLUSD	−0.0016%	1h	0.09809	+0.153%	$570	$582	5x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09793	−0.015%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.702%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09827	+0.337%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09823	+0.299%	$72K	—	150x	as long as short
Backpack XPL_USDC_PERP	+0.0014%	1h	0.09821	+0.276%	$179K	$283K	10x	as long as short
Orderly PERP_XPL_USDC	+0.0083%	4h	0.09820	+0.265%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0095%	8h	0.09794	+0.005%	$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
Nado XPL-PERP	+0.0100%	1h	0.09816	+0.225%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09829	+0.361%	$63.2M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09824	+0.305%	$254K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09799	+0.050%	$222K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09820	+0.268%	$44.3M	$104.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09817	+0.235%	$47.9M	$53.4M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09814	+0.204%	$9.1M	$53.5M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09740	−0.551%	$140K	$11K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09816	+0.225%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09820	+0.265%	$12.9M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09813	+0.194%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09822	+0.286%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDTshort	+0.0100%	4h	0.09816	+0.225%	—	$7.9M	—
Variational Omni XPL	+0.0100%	4h	0.09812	+0.185%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09807	+0.132%	$265K	$786K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09810	+0.163%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09832	+0.386%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09810	+0.163%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09820	+0.265%	$208	$10K	10x	as long as short
HTX XPL-USDTlong	+0.0100%	4h	0.09794	long leg	$139K	$245K	20x
Extended XPL-USD	+0.0104%	1h	0.09812	+0.182%	$664K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09824	+0.302%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09788	−0.061%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09825	+0.317%	$199K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09832	+0.388%	$74K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3465%	1h	0.09869	+0.765%	$520K	$941K	10x	as long as short