Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: Nado against KuCoin−0.052%7-day average +0.053% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$84as in the Price arb table

costs, in and out, $10k−$730.731% of the position

Long on KuCoin Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 7 days+0.228%+$23 · spread now −0.052%, 7d avg +0.053%

Together, before fees+0.228%+ Points / potential airdropNado: Active · farm board+$23 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: Nado is 0.105% cheaper against KuCoin than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of +0.053%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XPLUSDTM	0.09604	0.0100	pay 0.0050% / 4h	1h 28m	$2.3M	$1.5M	50x
Short	Nado XPL-PERP	0.09599	0.0100	get 0.0012% / 1h	28m 09s	$1.2M	$2.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.052%Rate

Funding earned: $0
Price spread: −0.052% → +0.053%: −$10.53
Slippage, 4 orders: −$54.07
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$83.59
Costs to cover: 0.731%
Break-even: never at this rate

Slippage from KuCoin: live order book, 8 min ago; Nado: live order book, 1 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, 8 min ago	7.80 bp	28.9 bp −$29	137.6 bp −$1,376	doesn't fit	doesn't fit
Sell Nado live order book, 1 min ago	1.04 bp	6.9 bp −$7	19.8 bp −$198	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
Backpack XPL_USDC_PERP	−0.0419%	1h	0.09602	−0.021%	$181K	$242K	10x	as long as short
01 Exchange XPLUSD	−0.0408%	1h	0.09592	−0.125%	$558	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0256% / S +0.0581%	1h	0.09610	+0.060%	$106K	—	100x	as long as short
Bybit XPLUSDT	−0.0020%	4h	0.09593	−0.115%	$45.4M	$56.7M	75x	as long as short
Orderly PERP_XPL_USDC	−0.0003%	4h	0.09601	−0.031%	$29K	$335K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09601	−0.031%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.173%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09604	0.000%	$46K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09608	+0.041%	$72K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0049%	4h	0.09599	−0.052%	$8.2M	$52.8M	50x	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	+0.0060%	8h	0.09603	−0.009%	$12K	$2K	5x	as long as short
Gate XPL_USDT	+0.0070%	4h	0.09599	−0.052%	$3.0M	$3.8M	75x	as long as short
Lighter XPL	+0.0096%	1h	0.09594	−0.104%	$4.3M	$4.2M	10x	as long as short
Nado XPL-PERPshort	+0.0100%	1h	0.09599	−0.052%	$1.2M	$2.8M	10x
Hyperliquid XPL	+0.0100%	1h	0.09611	+0.071%	$60.3M	$48.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09607	+0.031%	$244K	$501K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09608	+0.037%	$219K	$48K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09600	−0.042%	$43.4M	$108.7M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09600	−0.042%	$12.3M	$7.9M	100x	as long as short
KuCoin XPLUSDTMlong	+0.0100%	4h	0.09604	long leg	$2.3M	$1.5M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09606	+0.021%	$8.5M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09595	−0.094%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09609	+0.047%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09615	+0.116%	$256K	$912K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09640	+0.375%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09613	+0.096%	$128K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09580	−0.250%	$2K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09600	−0.042%	$2K	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09605	+0.010%	$144K	$264K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09615	+0.115%	$140K	$7K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09597	−0.075%	$633K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09600	−0.042%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09628	+0.250%	$195K	$629K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09601	−0.031%	$1.7M	$1.0M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0672%	1h	0.09640	+0.375%	$74K	$93K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3564%	1h	0.09645	+0.428%	$547K	$1.0M	10x	as long as short