Spread before costs (cost unknown: a leg has no order-book sample)−0.143%
7d average−0.177%if it closes, per $10,000$14funding while held, a day−$2.04
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid XPL | 0.09890 | 0.0100 | pay 0.0013% / 1h | 55m 36s | $64.7M | $42.8M | 10x |
| Short | Orderly PERP_XPL_USDC | 0.09876 | 0.0032 | get 0.0016% / 4h | 1h 55m | $27K | $333K | 10x |
Hyperliquid XPL
Orderly PERP_XPL_USDCPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- −$14.26
- Funding while held
- −$2.04
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$31.3
- Spread needed to break even
- 0.150%
Slippage unknown: Hyperliquid: live order book, 9 min ago; Orderly: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0068%
- Per $10,000 a day
- −$2.04
- Average in range /8h
- —
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 Hyperliquid live order book, 9 min ago | 0.05 bp | doesn't fit | doesn't fit | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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 price on every exchange
against the cheapest. Click to use as the short leg.Reya0.07571cheapest
Variational Omni0.09803+29.486%ApeX Omni0.09830+29.843%SunX0.09850+30.108%Phoenix0.09859+30.226%SoDEX0.09860+30.240%Lighter0.09864+30.292%Nado0.09866+30.316%Gate0.09869+30.358%BloFin0.09870+30.372%01 Exchange0.09874+30.425%Deribit0.09874+30.425%Aster0.09875+30.439%gTrade (Gains Network)0.09875+30.439%GMX0.09875+30.440%
Reya
Variational Omni
ApeX Omni
SunX
Phoenix
SoDEX
Lighter
Nado
Gate
BloFin
Deribit
Aster
gTrade (Gains Network)
GMXOrderly0.09876+30.451%
Aevo0.09877+30.462%KuCoin0.09877+30.464%Backpack0.09877+30.464%HTX0.09877+30.464%dYdX0.09883+30.547%Polymarket Perps0.09884+30.557%Coinbase International0.09886+30.583%Bulk0.09887+30.592%Binance0.09887+30.596%Pacifica0.09887+30.602%Bybit0.09890+30.636%MEXC0.09890+30.636%
Aevo
KuCoin
Backpack
HTX
dYdX
Polymarket Perps
Coinbase International
Bulk
Binance
Pacifica
Bybit
MEXCHyperliquid0.09890+30.637%
Paradex0.09891+30.647%OKX0.09895+30.702%BingX0.09902+30.794%Extended0.09903+30.802%Bitget0.09903+30.808%Kraken Futures0.09904+30.820%
Paradex
OKX
BingX
Extended
Bitget
Kraken FuturesXPL on 35 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Reya XPLRUSDPERP | −23.452% | 0.0000% | 1h | — | — | — | as long as short |
| Variational Omni XPL | −0.881% | +0.0100% | 4h | $1.7M | $1.8M | — | as long as short |
| ApeX Omni XPLUSDT | −0.608% | +0.0100% | 1h | $25K | $80K | 50x | as long as short |
| SunX XPL-USDT | −0.405% | +0.0100% | 4h | $3K | $1.9M | 20x | as long as short |
| Phoenix XPL | −0.314% | +0.0324% | 1h | $201K | $610K | 10x | as long as short |
| SoDEX XPL-USD | −0.304% | +0.0100% | 1h | $647 | $9K | 10x | as long as short |
| Lighter XPL | −0.264% | −0.0672% | 1h | $4.5M | $4.2M | 10x | as long as short |
| Nado XPL-PERP | −0.246% | +0.0100% | 1h | $1.4M | $2.6M | 10x | as long as short |
| Gate XPL_USDT | −0.213% | +0.0100% | 4h | $3.0M | $3.9M | 75x | as long as short |
| BloFin XPL-USDT | −0.203% | +0.0340% | 4h | $1.9M | $1.2M | 75x | as long as short |
Show all 35 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| 01 Exchange XPLUSD | −0.163% | −0.0104% | 1h | $574 | $583 | 5x | as long as short |
| Deribit XPL_USDC-PERPETUAL | −0.163% | 0.0000% | 1h | $49K | $17K | 25x | as long as short |
| Aster XPLUSDT | −0.152% | +0.0100% | 4h | $263K | $442K | 20x | as long as short |
| gTrade (Gains Network) XPL/USD | −0.152% | L +0.0005% / S −0.0004% | 1h | $73K | — | 150x | as long as short |
| GMX XPL/USD [WBTC.b-USDC] | −0.151% | L +0.0203% / S +0.0037% | 1h | $138K | — | 100x | as long as short |
| Orderly PERP_XPL_USDCshort | −0.143% | +0.0032% | 4h | $27K | $333K | 10x | |
| Aevo XPL-PERP | −0.134% | +0.0104% | 1h | $38K | $5K | 3x | as long as short |
| KuCoin XPLUSDTM | −0.132% | +0.0100% | 4h | $2.4M | $1.4M | 50x | as long as short |
| Backpack XPL_USDC_PERP | −0.132% | −0.0706% | 1h | $185K | $279K | 10x | as long as short |
| HTX XPL-USDT | −0.132% | +0.0100% | 4h | $142K | $241K | 20x | as long as short |
| dYdX XPL-USD | −0.069% | 0.0000% | 1h | $8K | — | 5x | as long as short |
| Polymarket Perps XPL-USD | −0.062% | +0.0100% | 1h | $126K | $2.8M | 10x | as long as short |
| Coinbase International XPL-PERP-INTX | −0.041% | +0.0848% | 1h | $76K | $115K | 50x | as long as short |
| Bulk XPL-USD | −0.035% | +0.0100% | 1h | $140K | $53K | 10x | as long as short |
| Binance XPLUSDT | −0.031% | +0.0100% | 4h | $45.1M | $99.5M | 75x | as long as short |
| Pacifica XPL | −0.027% | +0.0100% | 1h | $224K | $14K | 10x | as long as short |
| Bybit XPLUSDT | −0.001% | +0.0100% | 4h | $47.5M | $49.3M | 75x | as long as short |
| MEXC XPL_USDT | −0.001% | +0.0100% | 4h | $13.6M | $7.3M | 100x | as long as short |
| Hyperliquid XPLlong | 0.000% | +0.0100% | 1h | $64.7M | $42.8M | 10x | |
| Paradex XPL-USD-PERP | +0.008% | +0.0097% | 8h | $13K | $2K | 5x | as long as short |
| OKX XPL-USDT-SWAP | +0.050% | +0.0100% | 4h | $9.2M | $52.4M | 50x | as long as short |
| BingX XPL-USDT | +0.120% | +0.0100% | 4h | — | $7.9M | — | as long as short |
| Extended XPL-USD | +0.126% | +0.0104% | 1h | $633K | $834K | 25x | as long as short |
| Bitget XPLUSDT | +0.130% | +0.0100% | 4h | $8.6M | $10.8M | 75x | as long as short |
| Kraken Futures PF_XPLUSD | +0.140% | +0.2781% | 1h | $298K | $684K | 10x | as long as short |