Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against KuCoin+0.074%7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$96as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$890.888% of the position

Long on KuCoin Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.073%−$7 on $10k

Price spread, last 7 days−0.057%−$6 · spread now +0.074%, 7d avg +0.015%

Together, before fees−0.130%−$13 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: Bitget is 0.059% dearer against KuCoin than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XPLUSDTM	0.09455	0.0100	pay 0.0050% / 4h	1h 56m	$2.4M	$1.4M	50x
Short	Bitget XPLUSDT	0.09462	0.0100	get 0.0050% / 4h	1h 56m	$8.8M	$9.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.074%Rate

Funding earned: $0
Price spread: +0.074% → +0.015%: $5.87
Slippage, 4 orders: −$64.78
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$82.91
Costs to cover: 0.888%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; Bitget: live order book, just now.

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, 4 min ago	5.79 bp	22.5 bp −$22	113.9 bp −$1,139	doesn't fit	doesn't fit
Sell Bitget live order book, just now	1.58 bp	15.7 bp −$16	37.7 bp −$377	doesn't fit	doesn't fit

XPL on 36 exchanges

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	−0.0792%	1h	0.09457	+0.021%	$4.3M	$3.0M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0595%	1h	0.09462	+0.074%	$47K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0568%	1h	0.09449	−0.063%	$549	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0415% / S +0.0676%	1h	0.09462	+0.076%	$105K	—	100x	as long as short
Bybit XPLUSDT	−0.0247%	4h	0.09451	−0.042%	$44.6M	$52.1M	75x	as long as short
Extended XPL-USD	−0.0152%	1h	0.09459	+0.041%	$601K	$1.1M	25x	as long as short
Paradex XPL-USD-PERP	−0.0117%	8h	0.09453	−0.023%	$12K	$696	5x	as long as short
Orderly PERP_XPL_USDC	−0.0087%	4h	0.09459	+0.042%	$30K	$185K	10x	as long as short
OKX XPL-USDT-SWAP	−0.0051%	4h	0.09454	−0.011%	$7.4M	$46.4M	50x	as long as short
Binance XPLUSDT	−0.0025%	4h	0.09455	+0.003%	$43.4M	$95.6M	75x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Backpack XPL_USDC_PERP	−0.0023%	1h	0.09463	+0.085%	$178K	$170K	10x	as long as short
MEXC XPL_USDT	−0.0022%	4h	0.09465	+0.106%	$13.3M	$6.3M	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09489	+0.361%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−19.930%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09487	+0.336%	$72K	—	150x	as long as short
Gate XPL_USDT	+0.0022%	4h	0.09457	+0.021%	$2.9M	$3.2M	75x	as long as short
Aevo XPL-PERP	+0.0072%	1h	0.09465	+0.106%	$28K	$18K	3x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09456	+0.011%	$1.2M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09469	+0.146%	$60.0M	$42.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09470	+0.159%	$252K	$360K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09472	+0.180%	$216K	$46K	10x	as long as short
KuCoin XPLUSDTMlong	+0.0100%	4h	0.09455	long leg	$2.4M	$1.4M	50x
Bitget XPLUSDTshort	+0.0100%	4h	0.09462	+0.074%	$8.8M	$9.9M	75x
BingX XPL-USDT	+0.0100%	4h	0.09452	−0.032%	—	$7.7M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09489	+0.362%	$1.7M	$1.7M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09495	+0.424%	$253K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09500	+0.476%	$25K	$68K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09467	+0.127%	$124K	$1.2M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09450	−0.053%	$3K	$1.5M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09450	−0.053%	$179	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09470	+0.159%	$134K	$209K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09455	0.000%	$138K	$5K	10x	as long as short
Phoenix XPL	+0.0166%	1h	0.09514	+0.624%	$192K	$434K	10x	as long as short
BloFin XPL-USDT	+0.0218%	4h	0.09471	+0.169%	$1.7M	$827K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0712%	1h	0.09538	+0.878%	$64K	$91K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.1349%	1h	0.09486	+0.329%	$553K	$992K	10x	as long as short