Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Bitget against MEXC+0.123%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$400.401% of the position

Long on MEXC Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.060%−$6 on $10k

Price spread, last 7 days−0.119%−$12 · spread now +0.123%, 7d avg +0.022%

Together, before fees−0.179%−$18 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 0.101% dearer against MEXC than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XPL_USDT	0.09753	0.0100	pay 0.0050% / 4h	42m 29s	$12.7M	$7.6M	100x
Short	Bitget XPLUSDT	0.09765	0.0100	get 0.0050% / 4h	42m 29s	$8.7M	$11.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against MEXC. 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 MEXCbpFee BitgetbpOrdersPrice spread, now +0.123%Rate

Funding earned: $0
Price spread: +0.123% → +0.022%: $10.1
Slippage, 4 orders: −$28.14
Fee MEXC: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$30.04
Costs to cover: 0.401%
Break-even: never at this rate

Slippage from MEXC: live order book, 6 min ago; Bitget: 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 MEXC live order book, 6 min ago	0.51 bp	1.1 bp −$1	7.3 bp −$73	80.1 bp −$8,009	226.5 bp −$113.3K
Sell Bitget live order book, 1 min ago	1.02 bp	18.6 bp −$19	43.9 bp −$439	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
Lighter XPL	−0.0632%	1h	0.09751	−0.021%	$4.4M	$4.1M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0465%	1h	0.09777	+0.246%	$47K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0328%	1h	0.09746	−0.072%	$567	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0129% / S +0.0518%	1h	0.09759	+0.066%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09771	+0.182%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.379%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09760	+0.068%	$77K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0047%	8h	0.09763	+0.098%	$13K	$2K	5x	as long as short
Orderly PERP_XPL_USDC	+0.0060%	4h	0.09779	+0.267%	$29K	$335K	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09759	+0.062%	$1.4M	$2.6M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid XPL	+0.0100%	1h	0.09773	+0.201%	$63.2M	$48.0M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09770	+0.178%	$253K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09770	+0.174%	$222K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09752	−0.014%	$44.3M	$107.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09753	0.000%	$47.7M	$55.1M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09753	0.000%	$8.9M	$54.4M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09762	+0.092%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDTlong	+0.0100%	4h	0.09753	long leg	$12.7M	$7.6M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09763	+0.103%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDTshort	+0.0100%	4h	0.09765	+0.123%	$8.7M	$11.1M	75x
BingX XPL-USDT	+0.0100%	4h	0.09751	−0.021%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09779	+0.267%	$180K	$280K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09803	+0.515%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09781	+0.289%	$262K	$806K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09790	+0.379%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09767	+0.140%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09760	+0.072%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09770	+0.174%	$202	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09770	+0.174%	$139K	$241K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09800	+0.481%	$143K	$9K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09756	+0.034%	$656K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09778	+0.257%	$38K	$5K	3x	as long as short
Phoenix XPL	+0.0327%	1h	0.09796	+0.441%	$198K	$651K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09769	+0.164%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0568%	1h	0.09825	+0.738%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5077%	1h	0.09833	+0.824%	$566K	$1.0M	10x	as long as short