Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against SunX+0.203%7-day average — · you sell dearer than you buy

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

Long on SunX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread pays, funding is against you. dYdX is 0.203% dearer against SunX than usual: you sell high and buy low (spread +0.203% now, against zero (this spread has no 7-day history yet)): +$20 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 6.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XPL-USDT	0.09630	0.0100	pay 0.0050% / 4h	1h 58m	$2K	$1.9M	20x
Short	dYdX XPL-USD	0.09650	0	get 0.0000% / 1h	58m 11s	$8K	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.203%Rate

Funding earned: −$21
Price spread: +0.203% → 0.000%: $20.32
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$18.68
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: SunX: live order book, 8 min ago; dYdX: 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 SunX live order book, 8 min ago	51.76 bp	163.4 bp −$163	doesn't fit	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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 35 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
01 Exchange XPLUSD	−0.0408%	1h	0.09637	+0.073%	$560	$708	5x	as long as short
Backpack XPL_USDC_PERP	−0.0245%	1h	0.09668	+0.395%	$179K	$243K	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0211% / S +0.0570%	1h	0.09648	+0.184%	$111K	—	100x	as long as short
Lighter XPL	−0.0168%	1h	0.09634	+0.042%	$4.4M	$4.2M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0165%	1h	0.09643	+0.135%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	−0.0001%	4h	0.09640	+0.104%	$29K	$335K	10x	as long as short
dYdX XPL-USDshort	0.0000%	1h	0.09650	+0.203%	$8K	—	5x
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.385%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09650	+0.205%	$59K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0037%	4h	0.09623	−0.073%	$8.3M	$53.1M	50x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPL-USD-PERP	+0.0045%	8h	0.09649	+0.194%	$13K	$2K	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09642	+0.122%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09656	+0.269%	$61.3M	$47.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09650	+0.211%	$246K	$499K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09652	+0.224%	$219K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09627	−0.030%	$43.6M	$107.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09621	−0.093%	$46.3M	$55.9M	75x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09648	+0.187%	$3.0M	$3.7M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09650	+0.208%	$12.5M	$7.8M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09648	+0.187%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09641	+0.114%	$8.5M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09641	+0.114%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09670	+0.413%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09646	+0.165%	$257K	$891K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09680	+0.519%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09662	+0.328%	$131K	$2.6M	10x	as long as short
SunX XPL-USDTlong	+0.0100%	4h	0.09630	long leg	$2K	$1.9M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09640	+0.104%	$195	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09665	+0.363%	$143K	$250K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09660	+0.312%	$141K	$7K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09635	+0.054%	$651K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09638	+0.082%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0328%	1h	0.09667	+0.384%	$196K	$620K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0672%	1h	0.09766	+1.412%	$78K	$94K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3551%	1h	0.09682	+0.537%	$549K	$1.0M	10x	as long as short