Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against BingX+0.051%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$97as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$760.765% of the position

Long on BingX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.202%−$20 on $10k

Price spread, last 7 days−0.043%−$4 · spread now +0.051%, 7d avg +0.022%

Together, before fees−0.246%−$25 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: Gate is 0.029% dearer against BingX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX XPL-USDT	0.09769	0.0100	pay 0.0050% / 4h	1h 56m	—	$7.9M	—
Short	Gate XPL_USDT	0.09774	0.0100	get 0.0050% / 4h	1h 56m	$3.0M	$4.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.051%Rate

Funding earned: $0
Price spread: +0.051% → +0.022%: $2.88
Slippage, 4 orders: −$51.48
Fee BingX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$73.6
Costs to cover: 0.765%
Break-even: never at this rate

Slippage from BingX: live order book, 12 min ago; Gate: live order book, 2 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 BingX live order book, 12 min ago	1.03 bp	11.0 bp −$11	26.5 bp −$265	86.0 bp −$8,598	doesn't fit
Sell Gate live order book, 2 min ago	6.68 bp	23.6 bp −$24	141.2 bp −$1,412	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
Deribit XPL_USDC-PERPETUAL	−0.0159%	1h	0.09780	+0.113%	$47K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0096%	1h	0.09765	−0.041%	$568	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0093% / S +0.0494%	1h	0.09779	+0.101%	$113K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0062%	1h	0.09779	+0.102%	$178K	$282K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09755	−0.142%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.503%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09781	+0.120%	$72K	—	150x	as long as short
Lighter XPL	+0.0048%	1h	0.09763	−0.061%	$4.4M	$4.1M	10x	as long as short
Orderly PERP_XPL_USDC	+0.0080%	4h	0.09778	+0.092%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0090%	8h	0.09764	−0.047%	$13K	$2K	5x	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	0.09776	+0.069%	$1.4M	$2.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09780	+0.115%	$253K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09763	−0.066%	$222K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09774	+0.051%	$43.9M	$105.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09772	+0.031%	$47.7M	$53.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09770	+0.010%	$9.0M	$53.6M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09700	−0.704%	$140K	$10K	10x	as long as short
Gate XPL_USDTshort	+0.0100%	4h	0.09774	+0.051%	$3.0M	$4.0M	75x
MEXC XPL_USDT	+0.0100%	4h	0.09769	0.000%	$12.7M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09771	+0.020%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09774	+0.051%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDTlong	+0.0100%	4h	0.09769	long leg	—	$7.9M	—
Variational Omni XPL	+0.0100%	4h	0.09700	−0.705%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09709	−0.610%	$263K	$775K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09710	−0.604%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09792	+0.232%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09760	−0.092%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09780	+0.113%	$203	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09719	−0.512%	$138K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09770	+0.010%	$660K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09781	+0.123%	$38K	$5K	3x	as long as short
Hyperliquid XPL	+0.0149%	1h	0.09786	+0.179%	$63.0M	$47.4M	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09736	−0.338%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09726	−0.440%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09794	+0.256%	$74K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4574%	1h	0.09814	+0.456%	$517K	$952K	10x	as long as short