Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against HTX0.000%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$153as in the Funding arb table

Net, price: spread back to 7d avg − costs−$137as in the Price arb table

costs, in and out, $10k−$1351.352% of the position

Long on HTX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.178%−$18 on $10k

Price spread, last 3 days (all we have)+0.171%+$17 · spread now 0.000%, 7d avg +0.022%

Together, before fees−0.007%−$1 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 0.022% cheaper against HTX than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XPL-USDT	0.09620	0.0100	pay 0.0050% / 4h	1h 57m	$143K	$250K	20x
Short	MEXC XPL_USDT	0.09620	0.0100	get 0.0050% / 4h	1h 57m	$12.5M	$7.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.022%: −$2.21
Slippage, 4 orders: −$123.17
Fee HTX: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$137.37
Costs to cover: 1.352%
Break-even: never at this rate

Slippage from HTX: live order book, 5 min ago; MEXC: 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, 5 min ago	14.47 bp	58.2 bp −$58	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	0.52 bp	2.5 bp −$2	8.9 bp −$89	87.8 bp −$8,780	222.7 bp −$111.4K

XPL on 35 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
Backpack XPL_USDC_PERP	−0.0886%	1h	0.09620	0.000%	$178K	$242K	10x	as long as short
01 Exchange XPLUSD	−0.0432%	1h	0.09613	−0.073%	$559	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0373%	1h	0.09617	−0.031%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0211% / S +0.0571%	1h	0.09627	+0.068%	$111K	—	100x	as long as short
Lighter XPL	−0.0168%	1h	0.09608	−0.125%	$4.3M	$4.2M	10x	as long as short
Orderly PERP_XPL_USDC	−0.0001%	4h	0.09623	+0.031%	$29K	$335K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09623	+0.027%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.304%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09626	+0.062%	$59K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0035%	4h	0.09635	+0.156%	$8.3M	$53.1M	50x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPL-USD-PERP	+0.0043%	8h	0.09625	+0.057%	$13K	$2K	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09620	0.000%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09629	+0.090%	$61.2M	$47.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09624	+0.042%	$245K	$499K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09626	+0.062%	$219K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09636	+0.164%	$43.7M	$107.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09632	+0.125%	$46.3M	$55.7M	75x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09621	+0.010%	$3.0M	$3.7M	75x	as long as short
MEXC XPL_USDTshort	+0.0100%	4h	0.09620	0.000%	$12.5M	$7.8M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09622	+0.021%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09644	+0.249%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09621	+0.010%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09670	+0.518%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09656	+0.376%	$259K	$900K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09670	+0.520%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09628	+0.082%	$131K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09600	−0.208%	$2K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09610	−0.104%	$195	$11K	10x	as long as short
HTX XPL-USDTlong	+0.0100%	4h	0.09620	long leg	$143K	$250K	20x
Bulk XPL-USD	+0.0100%	1h	0.09660	+0.416%	$141K	$7K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09633	+0.138%	$651K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09621	+0.007%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0328%	1h	0.09667	+0.489%	$196K	$620K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0672%	1h	0.09766	+1.518%	$78K	$94K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3559%	1h	0.09659	+0.401%	$548K	$1.0M	10x	as long as short