After costs, if the gap returns to its 7d average, $10k−$47
spread now+0.077%7d average+0.030%fees + slippage, in and out−$52spread needed0.521%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid XPL | 0.1033 | 0.0202 | pay 0.0025% / 1h | 7m 02s | $69.1M | $35.0M | 10x |
| Short | Phoenix XPL | 0.1034 | 0.0391 | get 0.0049% / 1h | 7m 02s | $211K | $528K | 10x |
Hyperliquid XPL
Phoenix XPLPrice 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
- $7.75
- Funding while held
- $5.67
- Slippage, 4 orders
- −$36.12
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$38.7
- Spread needed to break even
- 0.521%
Slippage from Hyperliquid: live order book, 8 min ago; Phoenix: live order book, 47 min ago.
Cost of waiting
funding view- Funding /8h
- +0.0189%
- Per $10,000 a day
- +$5.67
- 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, 8 min ago | 1.46 bp | 10.3 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 47 min ago | 0.99 bp | 14.5 bp −$15 | 48.6 bp −$486 | doesn't fit | doesn't fit |
XPL price on every exchange
against the cheapest. Click to use as the short leg.Reya0.07571cheapest
Bulk0.1025+35.384%Lighter0.1029+35.903%SunX0.1029+35.916%Variational Omni0.1029+35.973%ApeX Omni0.1030+36.048%OKX0.1030+36.062%Extended0.1030+36.076%BingX0.1030+36.088%Bybit0.1030+36.101%KuCoin0.1031+36.114%Orderly0.1031+36.114%Binance0.1031+36.128%Gate0.1031+36.128%MEXC0.1031+36.128%Deribit0.1031+36.128%Backpack0.1031+36.154%Aevo0.1031+36.166%GMX0.1031+36.178%Bitget0.1031+36.181%SoDEX0.1031+36.181%BloFin0.1031+36.194%Aster0.1031+36.195%gTrade (Gains Network)0.1031+36.199%Paradex0.1031+36.214%Nado0.1032+36.253%Pacifica0.1032+36.348%Polymarket Perps0.1032+36.365%dYdX0.1033+36.384%
Reya
Bulk
Lighter
SunX
Variational Omni
ApeX Omni
OKX
Extended
BingX
Bybit
KuCoin
Orderly
Binance
Gate
MEXC
Deribit
Backpack
Aevo
GMX
Bitget
SoDEX
BloFin
Aster
gTrade (Gains Network)
Paradex
Nado
Pacifica
Polymarket Perps
dYdXHyperliquid0.1033+36.431%
Phoenix0.1034+36.537%
HTX0.1034+36.550%Kraken Futures0.1034+36.618%Coinbase International0.1036+36.894%
HTX
Kraken Futures
Coinbase InternationalXPL on 34 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Reya XPLRUSDPERP | −26.703% | 0.0000% | 1h | — | — | — | as long as short |
| Bulk XPL-USD | −0.768% | +0.0100% | 1h | $144K | $35K | 10x | as long as short |
| Lighter XPL | −0.387% | −0.1000% | 1h | $4.7M | $4.1M | 10x | as long as short |
| SunX XPL-USDT | −0.378% | +0.0100% | 4h | $3K | $1.8M | 20x | as long as short |
| Variational Omni XPL | −0.336% | +0.0100% | 4h | $1.9M | $1.5M | — | as long as short |
| ApeX Omni XPLUSDT | −0.281% | +0.0100% | 1h | $30K | $86K | 50x | as long as short |
| OKX XPL-USDT-SWAP | −0.271% | +0.0100% | 4h | $10.1M | $53.1M | 50x | as long as short |
| Extended XPL-USD | −0.260% | +0.0104% | 1h | $674K | $804K | 25x | as long as short |
| BingX XPL-USDT | −0.252% | +0.0100% | 4h | — | $7.8M | — | as long as short |
| Bybit XPLUSDT | −0.242% | +0.0100% | 4h | $50.9M | $45.6M | 75x | as long as short |
Show all 34 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| KuCoin XPLUSDTM | −0.232% | +0.0100% | 4h | $2.9M | $1.3M | 50x | as long as short |
| Orderly PERP_XPL_USDC | −0.232% | +0.0033% | 4h | $29K | $331K | 10x | as long as short |
| Binance XPLUSDT | −0.223% | +0.0100% | 4h | $48.3M | $90.2M | 75x | as long as short |
| Gate XPL_USDT | −0.223% | +0.0100% | 4h | $3.2M | $3.8M | 75x | as long as short |
| MEXC XPL_USDT | −0.223% | +0.0100% | 4h | $14.5M | $7.1M | 100x | as long as short |
| Deribit XPL_USDC-PERPETUAL | −0.223% | −0.0235% | 1h | $47K | $10K | 25x | as long as short |
| Backpack XPL_USDC_PERP | −0.203% | +0.0053% | 1h | $189K | $281K | 10x | as long as short |
| Aevo XPL-PERP | −0.195% | +0.0104% | 1h | $40K | $5K | 3x | as long as short |
| GMX XPL/USD [WBTC.b-USDC] | −0.186% | L −0.0036% / S +0.0450% | 1h | $138K | — | 100x | as long as short |
| Bitget XPLUSDT | −0.184% | +0.0100% | 4h | $9.2M | $10.5M | 75x | as long as short |
| SoDEX XPL-USD | −0.184% | +0.0100% | 1h | $213 | $9K | 10x | as long as short |
| BloFin XPL-USDT | −0.174% | +0.0340% | 4h | $2.0M | $1.1M | 75x | as long as short |
| Aster XPLUSDT | −0.174% | +0.0100% | 4h | $279K | $440K | 20x | as long as short |
| gTrade (Gains Network) XPL/USD | −0.170% | L +0.0005% / S −0.0004% | 1h | $74K | — | 150x | as long as short |
| Paradex XPL-USD-PERP | −0.159% | +0.0088% | 8h | $12K | $946 | 5x | as long as short |
| Nado XPL-PERP | −0.131% | +0.0100% | 1h | $1.5M | $2.3M | 10x | as long as short |
| Pacifica XPL | −0.061% | +0.0100% | 1h | $233K | $19K | 10x | as long as short |
| Polymarket Perps XPL-USD | −0.048% | +0.0100% | 1h | $142K | $3.6M | 10x | as long as short |
| dYdX XPL-USD | −0.035% | 0.0000% | 1h | $9K | — | 5x | as long as short |
| Hyperliquid XPLlong | 0.000% | +0.0202% | 1h | $69.1M | $35.0M | 10x | |
| Phoenix XPLshort | +0.077% | +0.0391% | 1h | $211K | $528K | 10x | |
| HTX XPL-USDT | +0.087% | +0.0100% | 4h | $152K | $254K | 20x | as long as short |
| Kraken Futures PF_XPLUSD | +0.137% | +0.0508% | 1h | $144K | $418K | 10x | as long as short |
| Coinbase International XPL-PERP-INTX | +0.339% | +0.0880% | 1h | $109K | $121K | 50x | as long as short |