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: HTX against KuCoin+0.269%7-day average −0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$127as in the Funding arb table

Net, price: spread back to 7d avg − costs−$109as in the Price arb table

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

Long on KuCoin Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.129%+$13 on $10k

Price spread, last 4 days (all we have)−0.491%−$49 · spread now +0.269%, 7d avg −0.043%

Together, before fees−0.361%−$36 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: HTX is 0.312% dearer against KuCoin than usual: you sell high and buy low, +$31 on $10k if it goes back to its 7-day average of −0.043%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XPLUSDTM	0.09660	0.0100	pay 0.0050% / 4h	3h 42m	$2.3M	$1.4M	50x
Short	HTX XPL-USDT	0.09686	0.0100	get 0.0050% / 4h	3h 42m	$142K	$200K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.269%Rate

Funding earned: $0
Price spread: +0.269% → −0.043%: $31.22
Slippage, 4 orders: −$115.89
Fee KuCoin: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$108.67
Costs to cover: 1.399%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; HTX: live order book, 8 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, 4 min ago	8.80 bp	28.2 bp −$28	148.7 bp −$1,487	doesn't fit	doesn't fit
Sell HTX live order book, 8 min ago	7.23 bp	63.5 bp −$64	doesn't fit	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
01 Exchange XPLUSD	−0.0448%	1h	0.09666	+0.062%	$562	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0304% / S +0.0610%	1h	0.09681	+0.217%	$107K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0266%	1h	0.09676	+0.166%	$46K	$18K	25x	as long as short
Bybit XPLUSDT	−0.0136%	4h	0.09657	−0.031%	$45.8M	$54.4M	75x	as long as short
Backpack XPL_USDC_PERP	−0.0113%	1h	0.09686	+0.269%	$179K	$195K	10x	as long as short
Gate XPL_USDT	−0.0112%	4h	0.09667	+0.072%	$3.1M	$3.5M	75x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09691	+0.324%	$9K	$585	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.627%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09679	+0.202%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0013%	4h	0.09674	+0.145%	$29K	$339K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPL-USD-PERP	+0.0048%	8h	0.09679	+0.199%	$13K	$2K	5x	as long as short
Lighter XPL	+0.0096%	1h	0.09673	+0.135%	$4.4M	$3.0M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09672	+0.124%	$1.2M	$2.5M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09672	+0.125%	$61.0M	$46.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09690	+0.309%	$252K	$454K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09689	+0.302%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09660	+0.003%	$43.8M	$102.1M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09658	−0.021%	$8.3M	$49.2M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09680	+0.207%	$141K	$5K	10x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09671	+0.114%	$12.6M	$7.0M	100x	as long as short
KuCoin XPLUSDTMlong	+0.0100%	4h	0.09660	long leg	$2.3M	$1.4M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09664	+0.041%	$8.8M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09661	+0.010%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09668	+0.081%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09685	+0.257%	$265K	$1.0M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09690	+0.311%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09688	+0.293%	$128K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09660	0.000%	$2K	$1.8M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09670	+0.104%	$203	$12K	10x	as long as short
HTX XPL-USDTshort	+0.0100%	4h	0.09686	+0.269%	$142K	$200K	20x
Extended XPL-USD	+0.0104%	1h	0.09658	−0.022%	$656K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09675	+0.155%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09692	+0.331%	$196K	$573K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09676	+0.166%	$1.7M	$977K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0640%	1h	0.09734	+0.766%	$75K	$82K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3100%	1h	0.09716	+0.575%	$551K	$982K	10x	as long as short