XPL arbitrage explained
Right now Plasma (XPL) trades on 11 venues we scan: 11 perpetual markets, 7 spot markets and 0 DEX pools. The lowest ask is on MEXC perp at $0.0872 and the highest bid on HTX perp at $0.0874.
The widest XPL perpetual spread is between Binance and HTX: long XPL on Binance at $0.0872 and short on HTX at $0.0874 for +0.26% gross, or +0.10% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is -0.015% per day, which the position pays while it is open.
For a spot–perpetual (cash-and-carry) trade, the best XPL route is to buy spot on Binance and short the perpetual on HTX: +0.18% gross, -0.02% net, with +0.015% a day of funding on the short leg.
Spot–spot XPL arbitrage (buy on Binance, withdraw, deposit and sell on Gate) shows +0.03% gross right now. It only works if withdrawals on the buying exchange and deposits on the selling exchange are open, so check the D/W dots before moving coins.
Small XPL gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.
Related: XPL funding rates · XPL spread charts · Plasma price · arbitrage scanner for all coins.