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: SunX against HTX−0.237%7-day average −0.147% · you buy dearer than you sell

Net, funding: paid 7d − costs−$421as in the Funding arb table

Net, price: spread back to 7d avg − costs−$413as in the Price arb table

costs, in and out, $10k−$4044.035% of the position

Long on HTX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.174%−$17 on $10k

Price spread, last 3 days (all we have)+0.211%+$21 · spread now −0.237%, 7d avg −0.147%

Together, before fees+0.037%+$4 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: SunX is 0.090% cheaper against HTX than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.147%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XPL-USDT	0.09703	0.0100	pay 0.0050% / 4h	2h 06m	$138K	$246K	20x
Short	SunX XPL-USDT	0.09680	0.0100	get 0.0050% / 4h	2h 06m	$3K	$2.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.237%Rate

Funding earned: $0
Price spread: −0.237% → −0.147%: −$8.99
Slippage, 4 orders: −$383.52
Fee HTX: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$412.51
Costs to cover: 4.035%
Break-even: never at this rate

Slippage from HTX: live order book, 15 min ago; SunX: live order book, 9 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, 15 min ago	15.83 bp	22.7 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 9 min ago	35.99 bp	151.5 bp −$151	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
GMX XPL/USD [WBTC.b-USDC]	L −0.0088% / S +0.0491%	1h	0.09695	−0.080%	$112K	—	100x	as long as short
Lighter XPL	−0.0080%	1h	0.09668	−0.361%	$4.4M	$4.3M	10x	as long as short
Backpack XPL_USDC_PERP	−0.0078%	1h	0.09693	−0.103%	$177K	$283K	10x	as long as short
01 Exchange XPLUSD	−0.0064%	1h	0.09691	−0.124%	$563	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0059%	1h	0.09696	−0.072%	$46K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09689	−0.145%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.977%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09697	−0.062%	$71K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0083%	4h	0.09691	−0.124%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0089%	8h	0.09689	−0.144%	$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	0.09699	−0.041%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09689	−0.139%	$62.2M	$47.3M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09685	−0.187%	$251K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09702	−0.013%	$220K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09673	−0.309%	$43.6M	$105.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09675	−0.289%	$47.1M	$53.6M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09670	−0.340%	$8.9M	$53.0M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09684	−0.196%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09685	−0.186%	$12.6M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09678	−0.258%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09683	−0.206%	$8.5M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09676	−0.278%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09696	−0.069%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09704	+0.008%	$262K	$775K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09720	+0.175%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09703	+0.002%	$129K	$2.7M	10x	as long as short
SunX XPL-USDTshort	+0.0100%	4h	0.09680	−0.237%	$3K	$2.0M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09690	−0.134%	$199	$10K	10x	as long as short
HTX XPL-USDTlong	+0.0100%	4h	0.09703	long leg	$138K	$246K	20x
Bulk XPL-USD	+0.0100%	1h	0.09695	−0.082%	$140K	$11K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09680	−0.234%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09696	−0.067%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09693	−0.103%	$1.7M	$1.1M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09742	+0.402%	$197K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09783	+0.824%	$74K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3506%	1h	0.09752	+0.505%	$514K	$945K	10x	as long as short