Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0324%/8h= −35.5% APRpaid last 24h −0.068%

Price spread now: 01 Exchange against HTX−0.366%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on HTX Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and 01 Exchange is 0.366% cheaper against HTX than usual: you would sell low and buy high (−$37 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XPL-USDT	0.09555	0.0100	pay 0.0050% / 4h	2h 33m	$139K	$185K	20x
Short	01 Exchange XPLUSD	0.09520	−0.0224	pay 0.0028% / 1h	33m 29s	$553	$708	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.366%Rate

Funding earned: −$68.04
Price spread: −0.366% → 0.000%: −$36.63
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$123.67
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 13 min ago; 01 Exchange: no order-book sample. Net counts fees only.

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, 13 min ago	7.84 bp	22.2 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Deribit XPL_USDC-PERPETUAL	−0.0274%	1h	0.09541	−0.147%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09531	−0.250%	$105K	—	100x	as long as short
01 Exchange XPLUSDshort	−0.0224%	1h	0.09520	−0.366%	$553	$708	5x
dYdX XPL-USD	0.0000%	1h	0.09548	−0.078%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.765%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09533	−0.234%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0015%	4h	0.09539	−0.167%	$29K	$320K	10x	as long as short
Lighter XPL	+0.0032%	1h	0.09529	−0.272%	$4.3M	$3.0M	10x	as long as short
Paradex XPL-USD-PERP	+0.0065%	8h	0.09541	−0.146%	$12K	$696	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09521	−0.351%	$1.2M	$2.4M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid XPL	+0.0100%	1h	0.09540	−0.158%	$60.3M	$46.5M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09534	−0.215%	$251K	$429K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09544	−0.117%	$218K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09519	−0.374%	$43.2M	$100.2M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09520	−0.366%	$45.1M	$54.3M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09526	−0.304%	$8.1M	$48.0M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09565	+0.109%	$139K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09540	−0.157%	$3.0M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09524	−0.324%	$12.3M	$6.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09519	−0.377%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09532	−0.241%	$9.0M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09528	−0.283%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09545	−0.105%	$173K	$190K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09579	+0.251%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09577	+0.225%	$254K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09610	+0.576%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09535	−0.207%	$125K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09520	−0.366%	$3K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09540	−0.157%	$197	$12K	10x	as long as short
HTX XPL-USDTlong	+0.0100%	4h	0.09555	long leg	$139K	$185K	20x
Extended XPL-USD	+0.0104%	1h	0.09531	−0.254%	$601K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09540	−0.157%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09544	−0.115%	$193K	$536K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09614	+0.617%	$1.8M	$949K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0592%	1h	0.09640	+0.890%	$67K	$90K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2903%	1h	0.09578	+0.237%	$544K	$989K	10x	as long as short