Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0670%/8h= −73.3% APRpaid last 24h −0.168%

Price spread now: GMX against Aster−0.172%61s7-day average −0.028% · you buy dearer than you sell

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

Long on Aster Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.242%−$24 on $10k

Price spread, last 4 days (all we have)+0.226%+$23 · spread now −0.172%, 7d avg −0.028%

Together, before fees−0.016%+ Points / potential airdropAster: Stage 5 · farm board−$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$20 a day on $10k at the current rate, and GMX is 0.144% cheaper against Aster than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of −0.028%). Swap the legs. The two prices were read 61 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster XPLUSDT	0.09568	0.0100	pay 0.0050% / 4h	14m 22s	$253K	$419K	20x
Short	GMX XPL/USD [WBTC.b-USDC]	0.09552	L −0.0234% / S +0.0570%	pay 0.0071% / 1h	14m 22s	$105K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Aster. 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 AsterbpFee GMXbpOrdersPrice spread, now −0.172%Rate

Funding earned: −$140.62
Price spread: −0.172% → −0.028%: −$14.42
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: −$175.04
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 23 min ago; GMX: 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 Aster live order book, 23 min ago	5.23 bp	17.2 bp −$17	155.3 bp −$1,553	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPL	−0.1432%	1h	0.09546	−0.233%	$4.3M	$3.2M	10x	as long as short
01 Exchange XPLUSD	−0.0488%	1h	0.09547	−0.222%	$555	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]short	L −0.0234% / S +0.0570%	1h	0.09552	−0.172%	$105K	—	100x
Paradex XPL-USD-PERP	−0.0037%	8h	0.09564	−0.042%	$12K	$696	5x	as long as short
Orderly PERP_XPL_USDC	−0.0028%	4h	0.09562	−0.066%	$30K	$277K	10x	as long as short
Bybit XPLUSDT	−0.0026%	4h	0.09562	−0.066%	$45.5M	$54.0M	75x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09568	−0.004%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.877%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09569	+0.008%	$46K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09567	−0.017%	$72K	—	150x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX XPL-USDT-SWAP	+0.0053%	4h	0.09562	−0.066%	$7.7M	$47.7M	50x	as long as short
Extended XPL-USD	+0.0096%	1h	0.09562	−0.068%	$595K	$1.2M	25x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09556	−0.131%	$1.3M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09575	+0.070%	$60.4M	$46.0M	10x	as long as short
Aster XPLUSDTlong	+0.0100%	4h	0.09568	long leg	$253K	$419K	20x
Pacifica XPL	+0.0100%	1h	0.09568	−0.007%	$219K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09561	−0.075%	$43.2M	$97.8M	75x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09561	−0.076%	$2.9M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09558	−0.107%	$12.4M	$6.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09560	−0.086%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09571	+0.029%	$9.0M	$9.9M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09561	−0.076%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09556	−0.128%	$179K	$183K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09545	−0.243%	$1.7M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09547	−0.226%	$254K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09560	−0.086%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09569	+0.006%	$125K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09540	−0.295%	$2K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09560	−0.086%	$192	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09544	−0.254%	$132K	$212K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09555	−0.139%	$139K	$0	10x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09565	−0.034%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0249%	1h	0.09563	−0.055%	$194K	$495K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09548	−0.212%	$1.7M	$923K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0808%	1h	0.09555	−0.139%	$64K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2734%	1h	0.09594	+0.269%	$541K	$939K	10x	as long as short