Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against SunX+0.167%7-day average +0.149% · you sell dearer than you buy

Net, funding: paid 7d − costs−$346as in the Funding arb table

Net, price: spread back to 7d avg − costs−$344as in the Price arb table

costs, in and out, $10k−$3463.457% of the position

Long on SunX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.006%−$1 on $10k

Price spread, last 4 days (all we have)+0.383%+$38 · spread now +0.167%, 7d avg +0.149%

Together, before fees+0.377%+$38 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XPL-USDT	0.09600	0.0100	pay 0.0050% / 4h	1h 31m	$3K	$1.9M	20x
Short	BingX XPL-USDT	0.09616	0.0100	get 0.0050% / 4h	1h 31m	—	$8.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against SunX. 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 SunXbpFee BingXbpOrdersPrice spread, now +0.167%Rate

Funding earned: $0
Price spread: +0.167% → +0.149%: $1.77
Slippage, 4 orders: −$327.66
Fee SunX: 4 bp × 2 orders: −$8
Fee BingX: 5 bp × 2 orders: −$10
Net: −$343.9
Costs to cover: 3.457%
Break-even: never at this rate

Slippage from SunX: live order book, 5 min ago; BingX: live order book, 7 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 SunX live order book, 5 min ago	31.28 bp	166.5 bp −$166	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 7 min ago	5.74 bp	16.7 bp −$17	29.3 bp −$293	83.6 bp −$8,365	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
Backpack XPL_USDC_PERP	−0.0470%	1h	0.09611	+0.115%	$181K	$243K	10x	as long as short
01 Exchange XPLUSD	−0.0424%	1h	0.09612	+0.125%	$559	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0254% / S +0.0580%	1h	0.09620	+0.211%	$106K	—	100x	as long as short
Orderly PERP_XPL_USDC	−0.0004%	4h	0.09619	+0.198%	$29K	$335K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09619	+0.194%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.137%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09625	+0.260%	$46K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09620	+0.208%	$73K	—	150x	as long as short
Bybit XPLUSDT	+0.0017%	4h	0.09618	+0.188%	$45.6M	$56.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0046%	4h	0.09624	+0.250%	$8.3M	$53.1M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPL-USD-PERP	+0.0058%	8h	0.09610	+0.101%	$12K	$2K	5x	as long as short
Gate XPL_USDT	+0.0064%	4h	0.09615	+0.156%	$3.0M	$3.8M	75x	as long as short
Lighter XPL	+0.0096%	1h	0.09616	+0.167%	$4.4M	$4.2M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09619	+0.198%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09631	+0.326%	$60.5M	$48.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09619	+0.197%	$244K	$501K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09615	+0.160%	$219K	$48K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09626	+0.276%	$43.5M	$108.7M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09625	+0.260%	$12.4M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09616	+0.167%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09629	+0.302%	$8.5M	$11.1M	75x	as long as short
BingX XPL-USDTshort	+0.0100%	4h	0.09616	+0.167%	—	$8.0M	—
Variational Omni XPL	+0.0100%	4h	0.09612	+0.121%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09614	+0.141%	$255K	$912K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09630	+0.313%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09627	+0.282%	$128K	$2.6M	10x	as long as short
SunX XPL-USDTlong	+0.0100%	4h	0.09600	long leg	$3K	$1.9M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09620	+0.208%	$2K	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09610	+0.104%	$144K	$264K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09615	+0.156%	$140K	$7K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09620	+0.211%	$633K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09625	+0.260%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09629	+0.302%	$195K	$629K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09618	+0.188%	$1.7M	$1.0M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0672%	1h	0.09640	+0.417%	$74K	$93K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3558%	1h	0.09661	+0.634%	$548K	$1.0M	10x	as long as short