Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against OKX0.000%7-day average −0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$270.274% of the position

Long on OKX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.029%+$3 on $10k

Price spread, last 7 days−0.020%−$2 · spread now 0.000%, 7d avg −0.005%

Together, before fees+0.009%+$1 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	0.09682	0.0100	pay 0.0050% / 4h	3h 20m	$8.2M	$48.7M	50x
Short	MEXC XPL_USDT	0.09682	0.0100	get 0.0050% / 4h	3h 20m	$12.8M	$7.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → −0.005%: $0.53
Slippage, 4 orders: −$17.43
Fee OKX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$26.9
Costs to cover: 0.274%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; MEXC: live order book, 3 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, 4 min ago	0.52 bp	10.8 bp −$11	36.5 bp −$365	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	0.52 bp	1.9 bp −$2	6.2 bp −$62	81.7 bp −$8,175	225.2 bp −$112.6K

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	−0.0368%	1h	0.09699	+0.176%	$564	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0304% / S +0.0610%	1h	0.09695	+0.134%	$107K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0082%	1h	0.09688	+0.062%	$176K	$189K	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0059%	1h	0.09691	+0.093%	$46K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09689	+0.075%	$9K	$585	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.805%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09695	+0.137%	$73K	—	150x	as long as short
Bybit XPLUSDT	+0.0007%	4h	0.09684	+0.021%	$45.9M	$54.1M	75x	as long as short
Orderly PERP_XPL_USDC	+0.0012%	4h	0.09690	+0.083%	$29K	$339K	10x	as long as short
Paradex XPL-USD-PERP	+0.0059%	8h	0.09693	+0.115%	$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
Lighter XPL	+0.0064%	1h	0.09677	−0.052%	$4.4M	$3.0M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09690	+0.083%	$1.2M	$2.4M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09693	+0.117%	$61.5M	$46.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09691	+0.088%	$252K	$422K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09690	+0.086%	$222K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09683	+0.010%	$44.0M	$100.8M	75x	as long as short
OKX XPL-USDT-SWAPlong	+0.0100%	4h	0.09682	long leg	$8.2M	$48.7M	50x
Bulk XPL-USD	+0.0100%	1h	0.09656	−0.268%	$141K	$5K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09683	+0.010%	$3.1M	$3.5M	75x	as long as short
MEXC XPL_USDTshort	+0.0100%	4h	0.09682	0.000%	$12.8M	$7.1M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09687	+0.052%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09690	+0.083%	$9.0M	$9.6M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09677	−0.052%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09673	−0.095%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09666	−0.164%	$258K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09660	−0.227%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09698	+0.168%	$129K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09680	−0.021%	$3K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09690	+0.083%	$207	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09693	+0.114%	$142K	$186K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09686	+0.040%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09689	+0.070%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09662	−0.207%	$196K	$573K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09673	−0.093%	$1.7M	$962K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0640%	1h	0.09708	+0.269%	$75K	$76K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3097%	1h	0.09724	+0.435%	$553K	$990K	10x	as long as short