Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against KuCoin−0.083%7-day average −0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$100as in the Funding arb table

Net, price: spread back to 7d avg − costs−$106as in the Price arb table

costs, in and out, $10k−$990.993% of the position

Long on KuCoin Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.004%$0 on $10k

Price spread, last 7 days+0.077%+$8 · spread now −0.083%, 7d avg −0.017%

Together, before fees+0.073%+$7 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: BingX is 0.066% cheaper against KuCoin than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XPLUSDTM	0.09619	0.0100	pay 0.0050% / 4h	1h 47m	$2.3M	$1.3M	50x
Short	BingX XPL-USDT	0.09611	0.0100	get 0.0050% / 4h	1h 47m	—	$7.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against KuCoin. 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 KuCoinbpFee BingXbpOrdersPrice spread, now −0.083%Rate

Funding earned: $0
Price spread: −0.083% → −0.017%: −$6.62
Slippage, 4 orders: −$77.31
Fee KuCoin: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$105.93
Costs to cover: 0.993%
Break-even: never at this rate

Slippage from KuCoin: live order book, 9 min ago; BingX: live order book, 6 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 KuCoin live order book, 9 min ago	7.25 bp	38.0 bp −$38	147.7 bp −$1,477	doesn't fit	doesn't fit
Sell BingX live order book, 6 min ago	2.60 bp	19.6 bp −$20	30.1 bp −$301	88.6 bp −$8,862	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
Lighter XPL	−0.0880%	1h	0.09605	−0.146%	$4.3M	$3.1M	10x	as long as short
01 Exchange XPLUSD	−0.0408%	1h	0.09612	−0.073%	$559	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0374%	1h	0.09616	−0.031%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09617	−0.023%	$106K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09627	+0.084%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.292%	—	—	—	as long as short
Orderly PERP_XPL_USDC	0.0000%	4h	0.09610	−0.094%	$30K	$280K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09616	−0.026%	$73K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0051%	8h	0.09613	−0.064%	$12K	$696	5x	as long as short
Backpack XPL_USDC_PERP	+0.0054%	1h	0.09620	+0.010%	$177K	$189K	10x	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	0.09614	−0.047%	$1.2M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09627	+0.084%	$60.8M	$46.3M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09621	+0.023%	$254K	$415K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09621	+0.024%	$220K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09610	−0.096%	$43.5M	$97.2M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09612	−0.073%	$45.5M	$52.9M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09611	−0.083%	$8.0M	$47.9M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09620	+0.010%	$140K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09613	−0.062%	$3.0M	$3.3M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09613	−0.062%	$12.6M	$6.8M	100x	as long as short
KuCoin XPLUSDTMlong	+0.0100%	4h	0.09619	long leg	$2.3M	$1.3M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09621	+0.021%	$8.9M	$9.5M	75x	as long as short
BingX XPL-USDTshort	+0.0100%	4h	0.09611	−0.083%	—	$7.8M	—
Variational Omni XPL	+0.0100%	4h	0.09621	+0.020%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09627	+0.082%	$263K	$1.2M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09630	+0.114%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09623	+0.046%	$126K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09600	−0.198%	$2K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09610	−0.094%	$201	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09621	+0.021%	$133K	$215K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09609	−0.100%	$606K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09610	−0.094%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09628	+0.094%	$195K	$506K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09615	−0.042%	$1.7M	$938K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.09718	+1.029%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2837%	1h	0.09652	+0.340%	$548K	$935K	10x	as long as short