Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0212%/8h= −23.2% APRpaid last 24h −0.049%

Price spread now: 01 Exchange against Bitget−0.123%7-day average — · you buy dearer than you sell

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

Long on Bitget Short on 01 Exchange

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

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and 01 Exchange is 0.123% cheaper against Bitget than usual: you would sell low and buy high (−$12 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget XPLUSDT	0.09770	0.0100	pay 0.0050% / 4h	1h 54m	$8.6M	$11.1M	75x
Short	01 Exchange XPLUSD	0.09758	−0.0112	pay 0.0014% / 1h	54m 39s	$567	$708	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.123%Rate

Funding earned: −$44.52
Price spread: −0.123% → 0.000%: −$12.28
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$75.8
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 4 min ago; 01 Exchange: 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 Bitget live order book, 4 min ago	6.18 bp	21.0 bp −$21	46.4 bp −$464	doesn't fit	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: 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
Deribit XPL_USDC-PERPETUAL	−0.0159%	1h	0.09777	+0.072%	$47K	$18K	25x	as long as short
01 Exchange XPLUSDshort	−0.0112%	1h	0.09758	−0.123%	$567	$708	5x
GMX XPL/USD [WBTC.b-USDC]	L −0.0094% / S +0.0495%	1h	0.09781	+0.118%	$113K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09770	−0.005%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.511%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09779	+0.091%	$72K	—	150x	as long as short
Lighter XPL	+0.0056%	1h	0.09755	−0.154%	$4.4M	$4.1M	10x	as long as short
Orderly PERP_XPL_USDC	+0.0081%	4h	0.09774	+0.041%	$29K	$335K	10x	as long as short
Backpack XPL_USDC_PERP	+0.0089%	1h	0.09780	+0.102%	$178K	$282K	10x	as long as short
Paradex XPL-USD-PERP	+0.0090%	8h	0.09763	−0.068%	$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	0.09781	+0.107%	$1.4M	$2.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09773	+0.033%	$253K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09771	+0.012%	$222K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09760	−0.102%	$43.9M	$105.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09762	−0.082%	$47.6M	$53.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09758	−0.123%	$9.0M	$53.5M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09700	−0.714%	$140K	$10K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09764	−0.061%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09764	−0.061%	$12.6M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09765	−0.051%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDTlong	+0.0100%	4h	0.09770	long leg	$8.6M	$11.1M	75x
BingX XPL-USDT	+0.0100%	4h	0.09762	−0.082%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09767	−0.029%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09751	−0.197%	$264K	$775K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09750	−0.205%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09792	+0.221%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09760	−0.102%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09770	0.000%	$206	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09771	+0.010%	$139K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09761	−0.088%	$660K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09778	+0.085%	$38K	$5K	3x	as long as short
Hyperliquid XPL	+0.0121%	1h	0.09781	+0.117%	$63.0M	$47.4M	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09770	0.000%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09726	−0.450%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09794	+0.246%	$74K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4573%	1h	0.09817	+0.485%	$518K	$952K	10x	as long as short