Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: Nado against MEXC−0.081%51s7-day average +0.009% · 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—prices read too far apart to compare

costs, in and out, $10k−$220.219% of the position

Long on MEXC Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.003%$0 on $10k

Price spread, last 3 days (all we have)+0.257%+$26 · spread now −0.081%, 7d avg +0.009%

Together, before fees+0.255%+ Points / potential airdropNado: Active · farm board+$25 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 0.089% cheaper against MEXC than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.009%. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XPL_USDT	0.09895	0.0100	pay 0.0050% / 4h	3h 04m	$13.1M	$7.7M	100x
Short	Nado XPL-PERP	0.09887	0.0100	get 0.0012% / 1h	4m 39s	$1.5M	$2.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.081%Rate

Funding earned: $0
Price spread: −0.081% → +0.009%: −$8.94
Slippage, 4 orders: −$14.87
Fee MEXC: 0 bp × 2 orders: $0
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$30.81
Costs to cover: 0.219%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; Nado: live order book, 4 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, 4 min ago	0.50 bp	2.6 bp −$3	9.1 bp −$91	93.1 bp −$9,306	230.7 bp −$115.4K
Sell Nado live order book, 4 min ago	1.01 bp	8.2 bp −$8	21.8 bp −$218	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	−0.0200%	1h	0.09895	0.000%	$575	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0176% / S +0.0549%	1h	0.09885	−0.105%	$114K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0155%	1h	0.09882	−0.131%	$47K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09897	+0.020%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−23.492%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09887	−0.083%	$59K	—	150x	as long as short
Lighter XPL	+0.0008%	1h	0.09885	−0.101%	$4.5M	$4.2M	10x	as long as short
Orderly PERP_XPL_USDC	+0.0018%	4h	0.09880	−0.152%	$30K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0052%	8h	0.09900	+0.048%	$13K	$2K	5x	as long as short
OKX XPL-USDT-SWAP	+0.0075%	4h	0.09891	−0.040%	$8.8M	$55.9M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XPL-PERPshort	+0.0100%	1h	0.09887	−0.081%	$1.5M	$2.6M	10x
Aster XPLUSDT	+0.0100%	4h	0.09902	+0.072%	$261K	$539K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09902	+0.068%	$225K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09899	+0.043%	$45.3M	$108.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09895	0.000%	$48.2M	$56.1M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09909	+0.142%	$144K	$2K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09899	+0.040%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDTlong	+0.0100%	4h	0.09895	long leg	$13.1M	$7.7M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09898	+0.030%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09903	+0.081%	$8.9M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09895	0.000%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09884	−0.111%	$185K	$243K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09881	−0.145%	$1.8M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09910	+0.152%	$263K	$844K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09930	+0.354%	$26K	$89K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09891	−0.042%	$132K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09870	−0.253%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09880	−0.152%	$497	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09901	+0.061%	$143K	$243K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09894	−0.008%	$674K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09881	−0.141%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09897	+0.020%	$200K	$655K	10x	as long as short
Hyperliquid XPL	+0.0177%	1h	0.09912	+0.176%	$64.3M	$47.0M	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09889	−0.061%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09980	+0.859%	$74K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5008%	1h	0.09934	+0.399%	$574K	$1.0M	10x	as long as short