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: GRVT against Aster+0.022%80s7-day average −0.059% · you sell dearer than you buy

Net, funding: paid 7d − costs−$140as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1401.403% of the position

Long on Aster Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.458%+$46 · spread now +0.022%, 7d avg −0.059%

Together, before fees+0.458%+ Points / potential airdropAster: Stage 5 · GRVT: Active · farm board+$46 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: GRVT is 0.081% dearer against Aster than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.059%. The two prices were read 80 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	0.09563	0.0100	pay 0.0050% / 4h	54m 18s	$242K	$488K	20x
Short	GRVT XPL_USDT_Perp	0.09565	0.0100	get 0.0050% / 4h	54m 18s	$262K	$941K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.022%Rate

Funding earned: $0
Price spread: +0.022% → −0.059%: $8.12
Slippage, 4 orders: −$123.29
Fee Aster: 4 bp × 2 orders: −$8
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$132.16
Costs to cover: 1.403%
Break-even: never at this rate

Slippage from Aster: live order book, 3 min ago; GRVT: live order book, 4 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 Aster live order book, 3 min ago	4.70 bp	21.1 bp −$21	147.5 bp −$1,475	doesn't fit	doesn't fit
Sell GRVT live order book, 4 min ago	5.24 bp	55.8 bp −$56	88.8 bp −$888	doesn't fit	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
01 Exchange XPLUSD	−0.0392%	1h	0.09552	−0.115%	$555	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0288% / S +0.0599%	1h	0.09556	−0.070%	$105K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0192%	1h	0.09556	−0.073%	$177K	$227K	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0169%	1h	0.09550	−0.136%	$46K	$18K	25x	as long as short
Bybit XPLUSDT	−0.0130%	4h	0.09547	−0.167%	$45.2M	$56.1M	75x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09570	+0.070%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.834%	—	—	—	as long as short
Orderly PERP_XPL_USDC	+0.0002%	4h	0.09545	−0.188%	$29K	$335K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09558	−0.055%	$72K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0068%	8h	0.09560	−0.035%	$12K	$2K	5x	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	+0.0084%	4h	0.09555	−0.083%	$8.2M	$50.2M	50x	as long as short
Lighter XPL	+0.0096%	1h	0.09543	−0.209%	$4.3M	$3.3M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09559	−0.042%	$1.2M	$2.7M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09571	+0.085%	$60.0M	$47.1M	10x	as long as short
Aster XPLUSDTlong	+0.0100%	4h	0.09563	long leg	$242K	$488K	20x
Pacifica XPL	+0.0100%	1h	0.09570	+0.075%	$218K	$48K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09550	−0.136%	$43.2M	$106.0M	75x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09556	−0.073%	$3.0M	$3.5M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09551	−0.125%	$12.3M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09557	−0.062%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09557	−0.062%	$8.5M	$10.5M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09551	−0.125%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09536	−0.283%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perpshort	+0.0100%	4h	0.09565	+0.022%	$262K	$941K	10x
ApeX Omni XPLUSDT	+0.0100%	1h	0.09570	+0.074%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09566	+0.034%	$127K	$2.1M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09530	−0.345%	$3K	$1.8M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09550	−0.136%	$2K	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09565	+0.021%	$143K	$238K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09565	+0.021%	$139K	$5K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09548	−0.153%	$647K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09545	−0.188%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09576	+0.136%	$194K	$617K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09530	−0.345%	$1.7M	$993K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0616%	1h	0.09606	+0.450%	$74K	$86K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3328%	1h	0.09586	+0.241%	$543K	$978K	10x	as long as short