Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0074%/8h= +8.2% APRpaid last 24h +0.016%

Price spread now: ApeX Omni against Orderly−0.304%70s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.220%+$22 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. ApeX Omni is 0.304% cheaper against Orderly than usual: you would sell low and buy high (spread −0.304% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$30 on $10k: about 14 days of funding at the current rate (+$2 a day). The two prices were read 70 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	Orderly PERP_XPL_USDC	0.09870	0.0026	pay 0.0013% / 4h	3h 27m	$30K	$335K	10x
Short	ApeX Omni XPLUSDT	0.09840	0.0100	get 0.0013% / 1h	27m 55s	$25K	$89K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Orderly. 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 OrderlybpFee ApeX OmnibpOrdersPrice spread, now −0.304%Rate

Funding earned: $15.64
Price spread: −0.304% → 0.000%: −$30.4
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$30.75
Costs to cover: 0.160%
Break-even: 20.8 days

Slippage unknown: Orderly: no order-book sample; ApeX Omni: no order-book sample. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell ApeX Omni no order-book sample	—	—	—	—	—

Orderly and ApeX Omni: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 −0.0165% / S +0.0541%	1h	0.09872	+0.022%	$114K	—	100x	as long as short
01 Exchange XPLUSD	−0.0136%	1h	0.09879	+0.091%	$574	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0054%	1h	0.09875	+0.051%	$47K	$18K	25x	as long as short
Backpack XPL_USDC_PERP	−0.0031%	1h	0.09873	+0.030%	$184K	$273K	10x	as long as short
Lighter XPL	−0.0024%	1h	0.09858	−0.122%	$4.5M	$4.2M	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09870	−0.001%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−23.298%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09872	+0.016%	$77K	—	150x	as long as short
Orderly PERP_XPL_USDClong	+0.0026%	4h	0.09870	long leg	$30K	$335K	10x
Paradex XPL-USD-PERP	+0.0044%	8h	0.09878	+0.086%	$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	0.09875	+0.048%	$1.5M	$2.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09879	+0.091%	$256K	$535K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09881	+0.110%	$225K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09868	−0.016%	$45.1M	$108.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09869	−0.010%	$48.0M	$55.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09866	−0.041%	$8.8M	$55.9M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09880	+0.101%	$144K	$2K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09870	0.000%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09869	−0.010%	$13.0M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09869	−0.010%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09872	+0.020%	$8.8M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09868	−0.020%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09857	−0.132%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09872	+0.018%	$261K	$840K	10x	as long as short
ApeX Omni XPLUSDTshort	+0.0100%	1h	0.09840	−0.304%	$25K	$89K	50x
Polymarket Perps XPL-USD	+0.0100%	1h	0.09888	+0.184%	$132K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09860	−0.101%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09870	0.000%	$202	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09845	−0.253%	$143K	$242K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09866	−0.037%	$669K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09863	−0.068%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09844	−0.263%	$199K	$655K	10x	as long as short
Hyperliquid XPL	+0.0238%	1h	0.09887	+0.174%	$64.0M	$47.3M	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09853	−0.172%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09881	+0.111%	$73K	$96K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5017%	1h	0.09916	+0.465%	$573K	$1.0M	10x	as long as short