Settings8H · net · $10k
Funding arb · Price arb /

XPL

all XPL markets
SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 03:00 UTC−0.0234%/8h= −25.6% APRnext payment $0.29 per $10,000 · paid last 24h −0.067%
Price spread now: ApeX Omni against Phoenix−0.042%7-day average · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
What this pair did over the last
the charts below follow
Funding, last 7 days−0.413%−$41 on $10k
Price spread, last 7 daysno price history on both exchanges yet
Together, before feesneeds both histories
Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and ApeX Omni is 0.042% cheaper against Phoenix than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhoenix XPL0.096240.0334pay 0.0042% / 1h19m 13s$195K$617K10x
ShortApeX Omni XPLUSDT0.096200.0100get 0.0013% / 1h19m 13s$25K$78K50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

ApeX Omni against Phoenix. 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

Funding earned
−$49.12
Price spread: −0.042% → 0.000%
−$4.16
Slippage, 4 orders
no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders
−$7
Fee ApeX Omni: 5 bp × 2 orders
−$10
Net
−$70.28
Costs to cover
0.170%
Break-even
never at this rate
Slippage unknown: Phoenix: live order book, 38 min ago; 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
LegHalf-spread$10k$100k$1M$5M
Buy Phoenix live order book, 38 min ago1.05 bp15.0 bp −$1556.1 bp −$561doesn't fitdoesn't fit
Sell ApeX Omni no order-book sample
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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
01 Exchange XPLUSD−0.0368%1h0.09609−0.156%$559$7085xas long as short
GMX XPL/USD [WBTC.b-USDC]L −0.0314% / S +0.0616%1h0.09612−0.126%$106K100xas long as short
Deribit XPL_USDC-PERPETUAL−0.0166%1h0.09609−0.156%$46K$18K25xas long as short
Bybit XPLUSDT−0.0092%4h0.09601−0.239%$45.5M$54.7M75xas long as short
Backpack XPL_USDC_PERP−0.0041%1h0.09608−0.166%$177K$223K10xas long as short
dYdX XPL-USD0.0000%1h0.09620−0.040%$9K$5855xas long as short
Reya XPLRUSDPERP0.0000%1h0.07571−21.335%as long as short
gTrade (Gains Network) XPL/USDL +0.0005% / S −0.0004%1h0.09613−0.119%$72K150xas long as short
Orderly PERP_XPL_USDC+0.0014%4h0.09604−0.208%$29K$339K10xas long as short
Paradex XPL-USD-PERP+0.0081%8h0.09611−0.136%$12K$2K5xas long as short
Show all 36 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Lighter XPL+0.0096%1h0.09599−0.260%$4.3M$3.3M10xas long as short
Gate XPL_USDT+0.0098%4h0.09613−0.114%$3.0M$3.6M75xas long as short
Nado XPL-PERP+0.0100%1h0.09613−0.119%$1.2M$2.6M10xas long as short
Hyperliquid XPL+0.0100%1h0.09622−0.023%$60.7M$46.7M10xas long as short
Aster XPLUSDT+0.0100%4h0.09617−0.068%$241K$469K20xas long as short
Pacifica XPL+0.0100%1h0.09620−0.042%$219K$46K10xas long as short
Binance XPLUSDT+0.0100%4h0.09605−0.199%$43.6M$103.3M75xas long as short
OKX XPL-USDT-SWAP+0.0100%4h0.09604−0.208%$8.3M$49.2M50xas long as short
MEXC XPL_USDT+0.0100%4h0.09606−0.187%$12.3M$7.8M100xas long as short
KuCoin XPLUSDTM+0.0100%4h0.09598−0.270%$2.3M$1.4M50xas long as short
Bitget XPLUSDT+0.0100%4h0.09605−0.197%$8.5M$10.0M75xas long as short
BingX XPL-USDT+0.0100%4h0.09598−0.270%$7.9Mas long as short
Variational Omni XPL+0.0100%4h0.09603−0.221%$1.7M$1.9Mas long as short
GRVT XPL_USDT_Perp+0.0100%4h0.09624+0.001%$253K$983K10xas long as short
ApeX Omni XPLUSDTshort+0.0100%1h0.09620−0.042%$25K$78K50x
Polymarket Perps XPL-USD+0.0100%1h0.09620−0.039%$124K$2.0M10xas long as short
SunX XPL-USDT+0.0100%4h0.09600−0.249%$3K$1.8M20xas long as short
SoDEX XPL-USD+0.0100%1h0.09610−0.145%$197$12K10xas long as short
HTX XPL-USDT+0.0100%4h0.096240.000%$141K$206K20xas long as short
Bulk XPL-USD+0.0100%1h0.09630+0.062%$140K$5K10xas long as short
Extended XPL-USD+0.0104%1h0.09605−0.193%$653K$1.1M25xas long as short
Aevo XPL-PERP+0.0104%1h0.09605−0.197%$29K$18K3xas long as short
Phoenix XPLlong+0.0334%1h0.09624long leg$195K$617K10x
BloFin XPL-USDT+0.0340%4h0.09608−0.166%$1.7M$983K75xas long as short
Coinbase International XPL-PERP-INTX+0.0616%1h0.09676+0.540%$75K$87K50xas long as short
Kraken Futures PF_XPLUSD+0.3305%1h0.09651+0.278%$547K$975K10xas long as short