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% APRpaid last 24h 0.000%

Price spread now: HTX against Pacifica−0.330%7-day average −0.055% · you buy dearer than you sell

Net, funding: paid 7d − costs−$111as in the Funding arb table

Net, price: spread back to 7d avg − costs−$151as in the Price arb table

costs, in and out, $10k−$1241.236% of the position

Long on Pacifica Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.129%+$13 on $10k

Price spread, last 4 days (all we have)+0.148%+$15 · spread now −0.330%, 7d avg −0.055%

Together, before fees+0.277%+ Points / potential airdropPacifica: Active · farm board+$28 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: HTX is 0.275% cheaper against Pacifica than usual: you would sell low and buy high, −$28 on $10k if it goes back to its 7-day average of −0.055%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica XPL	0.09556	0.0100	pay 0.0013% / 1h	19m 32s	$219K	$46K	10x
Short	HTX XPL-USDT	0.09524	0.0100	get 0.0050% / 4h	19m 32s	$131K	$212K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Pacifica. 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 PacificabpFee HTXbpOrdersPrice spread, now −0.330%Rate

Funding earned: $0
Price spread: −0.330% → −0.055%: −$27.5
Slippage, 4 orders: −$103.63
Fee Pacifica: 4 bp × 2 orders: −$8
Fee HTX: 6 bp × 2 orders: −$12
Net: −$151.14
Costs to cover: 1.236%
Break-even: never at this rate

Slippage from Pacifica: live order book, 18 min ago; HTX: live order book, 17 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 Pacifica live order book, 18 min ago	10.47 bp	27.4 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 17 min ago	18.90 bp	43.1 bp −$43	doesn't fit	doesn't fit	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
Lighter XPL	−0.1448%	1h	0.09532	−0.246%	$4.3M	$3.2M	10x	as long as short
01 Exchange XPLUSD	−0.0512%	1h	0.09558	+0.026%	$556	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09547	−0.091%	$105K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0169%	1h	0.09543	−0.131%	$46K	$18K	25x	as long as short
Paradex XPL-USD-PERP	−0.0041%	8h	0.09547	−0.091%	$12K	$696	5x	as long as short
Orderly PERP_XPL_USDC	−0.0028%	4h	0.09536	−0.204%	$30K	$283K	10x	as long as short
Bybit XPLUSDT	−0.0024%	4h	0.09555	−0.005%	$45.5M	$54.0M	75x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09547	−0.092%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.770%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09563	+0.078%	$72K	—	150x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended XPL-USD	+0.0056%	1h	0.09550	−0.058%	$598K	$1.2M	25x	as long as short
OKX XPL-USDT-SWAP	+0.0060%	4h	0.09553	−0.026%	$7.7M	$47.8M	50x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09549	−0.071%	$1.2M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09571	+0.158%	$60.4M	$46.0M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09564	+0.091%	$253K	$419K	20x	as long as short
Pacifica XPLlong	+0.0100%	1h	0.09556	long leg	$219K	$46K	10x
Binance XPLUSDT	+0.0100%	4h	0.09557	+0.021%	$43.2M	$97.9M	75x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09551	−0.047%	$2.9M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09557	+0.016%	$12.4M	$6.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09550	−0.058%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09564	+0.089%	$9.0M	$9.9M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09559	+0.037%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09548	−0.078%	$179K	$189K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09516	−0.415%	$1.7M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09525	−0.315%	$253K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09530	−0.267%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09567	+0.116%	$125K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09510	−0.476%	$2K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09540	−0.162%	$194	$9K	10x	as long as short
HTX XPL-USDTshort	+0.0100%	4h	0.09524	−0.330%	$131K	$212K	20x
Bulk XPL-USD	+0.0100%	1h	0.09555	−0.005%	$139K	$0	10x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09540	−0.162%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0249%	1h	0.09538	−0.183%	$193K	$495K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09519	−0.382%	$1.7M	$921K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0808%	1h	0.09620	+0.675%	$65K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2725%	1h	0.09626	+0.738%	$544K	$937K	10x	as long as short