data as of
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Price arb /

XPL

all XPL markets
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Spread before costs (cost unknown: a leg has no order-book sample)+0.381%
7d average+0.175%if it closes, per $10,000$38funding while held, a day+$11.37
Long on OrderlyShort on Hyperliquid
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOrderly PERP_XPL_USDC0.10240.0060pay 0.0030% / 4h2h 40m$28K$331K10x
ShortHyperliquid XPL0.10280.0439get 0.0055% / 1h40m 03s$69.3M$33.3M10x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
$38.08
Funding while held
$11.37
Slippage, 4 orders
no order book: not counted
Fee Orderly: 3 bp × 2 orders
−$6
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
$34.45
Spread needed to break even
0.150%
Slippage unknown: Orderly: no order-book sample; Hyperliquid: live order book, 5 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
+0.0379%
Per $10,000 a day
+$11.37
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Orderly no order-book sample—————
Sell Hyperliquid live order book, 5 min ago0.98 bp7.3 bp −$721.4 bp −$214doesn't fitdoesn't fit
Orderly: 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 price on every exchange

against the cheapest. Click to use as the short leg.
Reya0.07571cheapest
Bulk0.1015+34.118%SunX0.1022+34.994%Variational Omni0.1023+35.078%BloFin0.1023+35.113%dYdX0.1024+35.199%HTX0.1024+35.205%Pacifica0.1024+35.237%ApeX Omni0.1024+35.258%GMX0.1024+35.261%01 Exchange0.1024+35.271%
Orderly0.1024+35.271%
gTrade (Gains Network)0.1024+35.272%Paradex0.1024+35.273%Lighter0.1024+35.284%Nado0.1024+35.298%Aster0.1024+35.298%Extended0.1024+35.314%Bybit0.1025+35.364%Binance0.1025+35.364%Aevo0.1025+35.389%Polymarket Perps0.1025+35.390%SoDEX0.1025+35.390%Gate0.1025+35.403%BingX0.1025+35.403%Deribit0.1025+35.416%MEXC0.1025+35.430%Phoenix0.1025+35.430%KuCoin0.1025+35.443%Bitget0.1026+35.456%Backpack0.1026+35.456%OKX0.1026+35.496%Kraken Futures0.1026+35.510%
Hyperliquid0.1028+35.786%
Coinbase International0.1029+35.971%

XPL on 35 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Reya XPLRUSDPERP−26.074%0.0000%1h———as long as short
Bulk XPL-USD−0.853%+0.0100%1h$142K$35K10xas long as short
SunX XPL-USDT−0.205%+0.0100%4h$3K$1.8M20xas long as short
Variational Omni XPL−0.143%+0.0100%4h$1.9M$1.3M—as long as short
BloFin XPL-USDT−0.117%+0.0340%4h$2.0M$1.1M75xas long as short
dYdX XPL-USD−0.053%0.0000%1h$9K—5xas long as short
HTX XPL-USDT−0.049%+0.0100%4h$152K$249K20xas long as short
Pacifica XPL−0.025%+0.0100%1h$233K$17K10xas long as short
ApeX Omni XPLUSDT−0.010%+0.0100%1h$32K$84K50xas long as short
GMX XPL/USD [WBTC.b-USDC]−0.008%L −0.0029% / S +0.0443%1h$136K—100xas long as short
Show all 35 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
01 Exchange XPLUSD0.000%−0.0032%1h$595$3K5xas long as short
Orderly PERP_XPL_USDClong0.000%+0.0060%4h$28K$331K10x
gTrade (Gains Network) XPL/USD+0.001%L +0.0005% / S −0.0004%1h$55K—150xas long as short
Paradex XPL-USD-PERP+0.002%+0.0093%8h$12K$9465xas long as short
Lighter XPL+0.010%−0.0224%1h$4.6M$3.4M10xas long as short
Nado XPL-PERP+0.020%+0.0100%1h$1.5M$2.1M10xas long as short
Aster XPLUSDT+0.020%+0.0100%4h$312K$391K20xas long as short
Extended XPL-USD+0.032%+0.0104%1h$680K$619K25xas long as short
Bybit XPLUSDT+0.068%+0.0100%4h$49.5M$42.4M75xas long as short
Binance XPLUSDT+0.069%+0.0100%4h$48.3M$85.4M75xas long as short
Aevo XPL-PERP+0.087%+0.0104%1h$40K$5K3xas long as short
Polymarket Perps XPL-USD+0.088%+0.0100%1h$143K$3.8M10xas long as short
SoDEX XPL-USD+0.088%+0.0100%1h$195$9K10xas long as short
Gate XPL_USDT+0.098%+0.0100%4h$3.3M$3.5M75xas long as short
BingX XPL-USDT+0.098%+0.0100%4h—$7.9M—as long as short
Deribit XPL_USDC-PERPETUAL+0.107%0.0000%1h$44K$8K25xas long as short
MEXC XPL_USDT+0.117%+0.0100%4h$14.4M$6.5M100xas long as short
Phoenix XPL+0.117%+0.0385%1h$222K$479K10xas long as short
KuCoin XPLUSDTM+0.127%+0.0100%4h$2.8M$1.3M50xas long as short
Bitget XPLUSDT+0.137%+0.0100%4h$9.2M$9.6M75xas long as short
Backpack XPL_USDC_PERP+0.137%−0.0489%1h$189K$275K10xas long as short
OKX XPL-USDT-SWAP+0.166%+0.0100%4h$10.0M$50.9M50xas long as short
Kraken Futures PF_XPLUSD+0.176%+0.1153%1h$121K$352K10xas long as short
Hyperliquid XPLshort+0.381%+0.0439%1h$69.3M$33.3M10x
Coinbase International XPL-PERP-INTX+0.518%+0.0872%1h$113K$138K50xas long as short