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: BingX against OKX−0.010%7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$560.562% of the position

Long on OKX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.063%+$6 on $10k

Price spread, last 7 days−0.005%−$1 · spread now −0.010%, 7d avg −0.012%

Together, before fees+0.058%+$6 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX XPL-USDT-SWAP	0.09694	0.0100	pay 0.0050% / 4h	2h 07m	$8.9M	$53.1M	50x
Short	BingX XPL-USDT	0.09693	0.0100	get 0.0050% / 4h	2h 07m	—	$7.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against OKX. 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 OKXbpFee BingXbpOrdersPrice spread, now −0.010%Rate

Funding earned: $0
Price spread: −0.010% → −0.012%: $0.16
Slippage, 4 orders: −$36.23
Fee OKX: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$56.08
Costs to cover: 0.562%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; BingX: 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 OKX live order book, 1 min ago	0.51 bp	14.6 bp −$15	40.3 bp −$403	doesn't fit	doesn't fit
Sell BingX live order book, 1 min ago	1.03 bp	19.2 bp −$19	34.8 bp −$348	91.9 bp −$9,190	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 −0.0088% / S +0.0491%	1h	0.09695	+0.012%	$112K	—	100x	as long as short
Lighter XPL	−0.0080%	1h	0.09686	−0.083%	$4.4M	$4.3M	10x	as long as short
Backpack XPL_USDC_PERP	−0.0068%	1h	0.09712	+0.186%	$177K	$283K	10x	as long as short
01 Exchange XPLUSD	−0.0064%	1h	0.09691	−0.031%	$563	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0059%	1h	0.09696	+0.021%	$46K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09700	+0.057%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.905%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09697	+0.031%	$71K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0083%	4h	0.09691	−0.031%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0089%	8h	0.09689	−0.051%	$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-PERP	+0.0100%	1h	0.09699	+0.052%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09707	+0.133%	$62.3M	$47.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09701	+0.071%	$251K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09702	+0.079%	$220K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09693	−0.010%	$43.7M	$105.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09692	−0.021%	$47.2M	$53.6M	75x	as long as short
OKX XPL-USDT-SWAPlong	+0.0100%	4h	0.09694	long leg	$8.9M	$53.1M	50x
Gate XPL_USDT	+0.0100%	4h	0.09697	+0.031%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09692	−0.021%	$12.7M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09697	+0.031%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09697	+0.031%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDTshort	+0.0100%	4h	0.09693	−0.010%	—	$7.9M	—
Variational Omni XPL	+0.0100%	4h	0.09696	+0.023%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09704	+0.101%	$262K	$775K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09720	+0.268%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09703	+0.095%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09680	−0.144%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09690	−0.041%	$199	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09703	+0.093%	$138K	$246K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09695	+0.010%	$140K	$11K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09692	−0.024%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09696	+0.026%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09705	+0.113%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09742	+0.495%	$197K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09783	+0.918%	$74K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3506%	1h	0.09752	+0.599%	$514K	$945K	10x	as long as short