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 −0.020%

Price spread now: GRVT against Bitget−0.034%73s7-day average −0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$163as 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−$1691.689% of the position

Long on Bitget Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.060%+$6 on $10k

Price spread, last 3 days (all we have)+0.156%+$16 · spread now −0.034%, 7d avg −0.046%

Together, before fees+0.216%+ Points / potential airdropGRVT: Active · farm board+$22 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget XPLUSDT	0.09726	0.0100	pay 0.0050% / 4h	3h 46m	$8.6M	$11.1M	75x
Short	GRVT XPL_USDT_Perp	0.09723	0.0100	get 0.0050% / 4h	3h 46m	$266K	$827K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Bitget. 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 BitgetbpFee GRVTbpOrdersPrice spread, now −0.034%Rate

Funding earned: $0
Price spread: −0.034% → −0.046%: $1.22
Slippage, 4 orders: −$147.9
Fee Bitget: 6 bp × 2 orders: −$12
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$167.68
Costs to cover: 1.689%
Break-even: never at this rate

Slippage from Bitget: live order book, 2 min ago; GRVT: live order book, 27 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 Bitget live order book, 2 min ago	3.59 bp	19.4 bp −$19	40.3 bp −$403	doesn't fit	doesn't fit
Sell GRVT live order book, 27 min ago	5.15 bp	63.7 bp −$64	94.1 bp −$941	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
Backpack XPL_USDC_PERP	−0.0289%	1h	0.09740	+0.144%	$180K	$282K	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0263%	1h	0.09740	+0.144%	$47K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0248%	1h	0.09738	+0.123%	$566	$708	5x	as long as short
Lighter XPL	−0.0232%	1h	0.09728	+0.021%	$4.4M	$4.2M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0156% / S +0.0536%	1h	0.09721	−0.056%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09738	+0.123%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.163%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09720	−0.060%	$76K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0026%	8h	0.09743	+0.171%	$13K	$2K	5x	as long as short
Orderly PERP_XPL_USDC	+0.0030%	4h	0.09718	−0.082%	$29K	$335K	10x	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	0.09730	+0.036%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09746	+0.211%	$62.9M	$47.4M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09743	+0.172%	$252K	$533K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09745	+0.192%	$222K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09717	−0.093%	$44.4M	$108.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09718	−0.082%	$47.1M	$55.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09717	−0.093%	$8.6M	$54.9M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09717	−0.093%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09724	−0.021%	$12.8M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09730	+0.041%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDTlong	+0.0100%	4h	0.09726	long leg	$8.6M	$11.1M	75x
BingX XPL-USDT	+0.0100%	4h	0.09718	−0.082%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09735	+0.092%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perpshort	+0.0100%	4h	0.09723	−0.034%	$266K	$827K	10x
ApeX Omni XPLUSDT	+0.0100%	1h	0.09730	+0.041%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09740	+0.145%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09720	−0.062%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09730	+0.041%	$199	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09784	+0.596%	$142K	$241K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09720	−0.059%	$142K	$2K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09737	+0.108%	$654K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09720	−0.059%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09719	−0.072%	$197K	$655K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09738	+0.123%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09815	+0.915%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5085%	1h	0.09784	+0.598%	$566K	$1.0M	10x	as long as short