Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: HTX against MEXC+0.115%7-day average −0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$114as in the Funding arb table

Net, price: spread back to 7d avg − costs−$118as in the Price arb table

costs, in and out, $10k−$1321.319% of the position

Long on MEXC Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.178%+$18 on $10k

Price spread, last 4 days (all we have)−0.939%−$94 · spread now +0.115%, 7d avg −0.022%

Together, before fees−0.761%−$76 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 0.137% dearer against MEXC than usual: you sell high and buy low, +$14 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	0.09594	0.0100	pay 0.0050% / 4h	1h 26m	$12.3M	$7.9M	100x
Short	HTX XPL-USDT	0.09605	0.0100	get 0.0050% / 4h	1h 26m	$144K	$264K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.115%Rate

Funding earned: $0
Price spread: +0.115% → −0.022%: $13.7
Slippage, 4 orders: −$119.91
Fee MEXC: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$118.21
Costs to cover: 1.319%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 min ago; HTX: live order book, 35 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, 2 min ago	0.52 bp	1.8 bp −$2	7.0 bp −$70	75.4 bp −$7,543	225.6 bp −$112.8K
Sell HTX live order book, 35 min ago	14.47 bp	69.9 bp −$70	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
Backpack XPL_USDC_PERP	−0.0416%	1h	0.09597	+0.031%	$181K	$241K	10x	as long as short
01 Exchange XPLUSD	−0.0408%	1h	0.09589	−0.052%	$558	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0258% / S +0.0582%	1h	0.09596	+0.023%	$106K	—	100x	as long as short
Bybit XPLUSDT	−0.0036%	4h	0.09587	−0.073%	$45.4M	$56.7M	75x	as long as short
Orderly PERP_XPL_USDC	−0.0002%	4h	0.09593	−0.010%	$29K	$335K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09591	−0.036%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.090%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09597	+0.031%	$46K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09598	+0.038%	$72K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0052%	4h	0.09596	+0.021%	$8.2M	$52.6M	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	+0.0061%	8h	0.09591	−0.035%	$12K	$2K	5x	as long as short
Gate XPL_USDT	+0.0078%	4h	0.09592	−0.021%	$3.0M	$3.8M	75x	as long as short
Lighter XPL	+0.0096%	1h	0.09587	−0.073%	$4.3M	$4.2M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09592	−0.021%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09606	+0.123%	$60.2M	$48.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09598	+0.038%	$243K	$501K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09599	+0.053%	$219K	$48K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09596	+0.021%	$43.4M	$108.7M	75x	as long as short
MEXC XPL_USDTlong	+0.0100%	4h	0.09594	long leg	$12.3M	$7.9M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09588	−0.063%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09597	+0.031%	$8.5M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09592	−0.021%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09609	+0.151%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09598	+0.043%	$255K	$912K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09640	+0.479%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09605	+0.112%	$128K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09580	−0.146%	$3K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09590	−0.042%	$2K	$11K	10x	as long as short
HTX XPL-USDTshort	+0.0100%	4h	0.09605	+0.115%	$144K	$264K	20x
Bulk XPL-USD	+0.0100%	1h	0.09615	+0.219%	$140K	$7K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09590	−0.037%	$633K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09595	+0.010%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09628	+0.354%	$195K	$629K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09590	−0.042%	$1.7M	$1.0M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0672%	1h	0.09620	+0.271%	$74K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3571%	1h	0.09626	+0.336%	$546K	$1.0M	10x	as long as short