Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.029%

Price spread now: gTrade (Gains Network) against BingX+0.070%7-day average — · you sell dearer than you buy

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

Long on BingX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 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. gTrade (Gains Network) is 0.070% dearer against BingX than usual: you sell high and buy low (spread +0.070% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX XPL-USDT	0.09604	0.0100	pay 0.0050% / 4h	44m 24s	—	$7.8M	—
Short	gTrade (Gains Network) XPL/USD	0.09611	L +0.0005% / S −0.0004%	get 0.0000% / 1h	44m 24s	$72K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against BingX. 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 BingXbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.070%Rate

Funding earned: −$20.17
Price spread: +0.070% → 0.000%: $7.03
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$33.14
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 8 min ago; gTrade (Gains Network): 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 BingX live order book, 8 min ago	5.74 bp	15.0 bp −$15	25.8 bp −$258	86.0 bp −$8,603	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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	−0.1376%	1h	0.09584	−0.208%	$4.3M	$3.1M	10x	as long as short
01 Exchange XPLUSD	−0.0464%	1h	0.09594	−0.104%	$558	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09610	+0.064%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0270%	1h	0.09606	+0.021%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	−0.0015%	4h	0.09604	0.000%	$30K	$246K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09609	+0.048%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.171%	—	—	—	as long as short
gTrade (Gains Network) XPL/USDshort	L +0.0005% / S −0.0004%	1h	0.09611	+0.070%	$72K	—	150x
Paradex XPL-USD-PERP	+0.0016%	8h	0.09599	−0.047%	$12K	$696	5x	as long as short
Bybit XPLUSDT	+0.0069%	4h	0.09601	−0.031%	$45.8M	$53.7M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XPL-PERP	+0.0100%	1h	0.09598	−0.068%	$1.3M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09619	+0.158%	$60.8M	$46.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09613	+0.092%	$254K	$419K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09610	+0.058%	$220K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09604	0.000%	$43.5M	$97.7M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09604	0.000%	$7.8M	$47.8M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09577	−0.280%	$140K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09606	+0.021%	$3.0M	$3.3M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09602	−0.021%	$12.6M	$6.5M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09609	+0.052%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09612	+0.083%	$9.1M	$9.9M	75x	as long as short
BingX XPL-USDTlong	+0.0100%	4h	0.09604	long leg	—	$7.8M	—
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09611	+0.073%	$180K	$188K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09607	+0.027%	$1.7M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09603	−0.011%	$255K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09610	+0.062%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09612	+0.082%	$126K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09580	−0.250%	$2K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09600	−0.042%	$193	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09596	−0.083%	$133K	$213K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09601	−0.027%	$601K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09600	−0.041%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0249%	1h	0.09622	+0.187%	$195K	$495K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09601	−0.031%	$1.7M	$929K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0808%	1h	0.09718	+1.187%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2722%	1h	0.09638	+0.359%	$547K	$930K	10x	as long as short