Funding arb · Price arb /

XPL

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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: BingX against Nado+0.046%7-day average −0.027% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$450.449% of the position

Long on Nado Short on BingX

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)−0.212%−$21 · spread now +0.046%, 7d avg −0.027%

Together, before fees−0.209%+ Points / potential airdropNado: Active · farm board−$21 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: BingX is 0.072% dearer against Nado than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado XPL-PERP	0.09831	0.0100	pay 0.0012% / 1h	33m 00s	$1.5M	$2.6M	10x
Short	BingX XPL-USDT	0.09836	0.0100	get 0.0050% / 4h	3h 33m	—	$7.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Nado. 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 NadobpFee BingXbpOrdersPrice spread, now +0.046%Rate

Funding earned: $0
Price spread: +0.046% → −0.027%: $7.25
Slippage, 4 orders: −$27.89
Fee Nado: 3.5 bp × 2 orders: −$7
Fee BingX: 5 bp × 2 orders: −$10
Net: −$37.65
Costs to cover: 0.449%
Break-even: 3867957127190176.0 days

Slippage from Nado: live order book, 1 min ago; BingX: live order book, 5 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 Nado live order book, 1 min ago	2.54 bp	8.3 bp −$8	16.7 bp −$167	doesn't fit	doesn't fit
Sell BingX live order book, 5 min ago	5.62 bp	12.4 bp −$12	32.3 bp −$323	93.4 bp −$9,338	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
GMX XPL/USD [WBTC.b-USDC]	L −0.0163% / S +0.0540%	1h	0.09830	−0.013%	$113K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0129%	1h	0.09838	+0.066%	$184K	$273K	10x	as long as short
01 Exchange XPLUSD	−0.0128%	1h	0.09828	−0.036%	$571	$708	5x	as long as short
Lighter XPL	−0.0088%	1h	0.09827	−0.046%	$4.4M	$4.2M	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09839	+0.081%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.999%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09835	+0.036%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09830	−0.014%	$77K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0030%	4h	0.09831	−0.005%	$30K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0044%	8h	0.09842	+0.107%	$13K	$2K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XPL-PERPlong	+0.0100%	1h	0.09831	long leg	$1.5M	$2.6M	10x
Aster XPLUSDT	+0.0100%	4h	0.09838	+0.066%	$254K	$534K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09845	+0.137%	$224K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09838	+0.062%	$44.9M	$108.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09833	+0.015%	$47.7M	$55.7M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09831	−0.005%	$8.7M	$55.7M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09765	−0.674%	$142K	$2K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09836	+0.046%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09838	+0.066%	$12.9M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09833	+0.015%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09851	+0.198%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDTshort	+0.0100%	4h	0.09836	+0.046%	—	$7.9M	—
Variational Omni XPL	+0.0100%	4h	0.09825	−0.066%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09827	−0.043%	$260K	$840K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09820	−0.117%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09843	+0.113%	$132K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09830	−0.015%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09830	−0.015%	$197	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09834	+0.025%	$142K	$242K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09830	−0.010%	$665K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09832	+0.001%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09844	+0.127%	$199K	$655K	10x	as long as short
Hyperliquid XPL	+0.0248%	1h	0.09861	+0.301%	$63.8M	$47.3M	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09832	+0.005%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09864	+0.331%	$73K	$96K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5039%	1h	0.09873	+0.426%	$571K	$1.0M	10x	as long as short