Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.3406%/8h= −373.0% APRpaid last 24h −0.240%

Price spread now: Aster against Kraken Futures−0.738%7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$135as in the Funding arb table

Net, price: spread back to 7d avg − costs−$212as in the Price arb table

costs, in and out, $10k−$1401.399% of the position

Long on Kraken Futures Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.052%+$5 on $10k

Price spread, last 3 days (all we have)+1.050%+$105 · spread now −0.738%, 7d avg −0.019%

Together, before fees+1.102%+ Points / potential airdropAster: Stage 5 · farm board+$110 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$102 a day on $10k at the current rate, and Aster is 0.719% cheaper against Kraken Futures than usual: you would sell low and buy high (−$72 if the spread goes back to its 7-day average of −0.019%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.052%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.052% in total (about 2.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XPLUSD	0.09752	0.3506	pay 0.0438% / 1h	6m 34s	$514K	$945K	10x
Short	Aster XPLUSDT	0.09680	0.0100	get 0.0050% / 4h	2h 06m	$250K	$527K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Kraken Futures. 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 Kraken FuturesbpFee AsterbpOrdersPrice spread, now −0.738%Rate

Funding earned: −$715.36
Price spread: −0.738% → −0.019%: −$71.94
Slippage, 4 orders: −$121.88
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$927.18
Costs to cover: 1.399%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 17 min ago; Aster: live order book, 16 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 Kraken Futures live order book, 17 min ago	28.43 bp	51.1 bp −$51	3766.9 bp −$37.7K	doesn't fit	doesn't fit
Sell Aster live order book, 16 min ago	7.13 bp	18.3 bp −$18	126.2 bp −$1,262	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	−0.583%	$112K	—	100x	as long as short
Lighter XPL	−0.0080%	1h	0.09668	−0.862%	$4.4M	$4.3M	10x	as long as short
Backpack XPL_USDC_PERP	−0.0078%	1h	0.09693	−0.605%	$177K	$283K	10x	as long as short
01 Exchange XPLUSD	−0.0072%	1h	0.09664	−0.903%	$562	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0059%	1h	0.09696	−0.575%	$46K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09689	−0.647%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.369%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09697	−0.564%	$71K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0083%	4h	0.09691	−0.626%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0089%	8h	0.09670	−0.840%	$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	−0.544%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09689	−0.641%	$62.2M	$47.3M	10x	as long as short
Aster XPLUSDTshort	+0.0100%	4h	0.09680	−0.738%	$250K	$527K	20x
Pacifica XPL	+0.0100%	1h	0.09681	−0.730%	$219K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09663	−0.913%	$43.5M	$105.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09669	−0.851%	$47.1M	$53.6M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09664	−0.903%	$8.9M	$53.0M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09679	−0.749%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09675	−0.790%	$12.6M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09678	−0.759%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09675	−0.790%	$8.5M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09671	−0.831%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09696	−0.572%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09704	−0.495%	$262K	$775K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09720	−0.328%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09703	−0.501%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09680	−0.739%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09690	−0.636%	$199	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09703	−0.503%	$138K	$246K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09695	−0.585%	$140K	$11K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09671	−0.830%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09696	−0.569%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09693	−0.605%	$1.7M	$1.1M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09742	−0.103%	$197K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09783	+0.318%	$74K	$103K	50x	as long as short
Kraken Futures PF_XPLUSDlong	+0.3506%	1h	0.09752	long leg	$514K	$945K	10x