Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: Gate against dYdX−0.146%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 5 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

Funding pays, the price is against you. Gate is 0.146% cheaper against dYdX than usual: you would sell low and buy high (spread −0.146% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$15 on $10k: about 4.9 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX XPL-USD	0.09721	0	get 0.0000% / 1h	50m 41s	$8K	—	5x
Short	Gate XPL_USDT	0.09707	0.0100	get 0.0050% / 4h	1h 50m	$3.0M	$4.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against dYdX. 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 dYdXbpFee GatebpOrdersPrice spread, now −0.146%Rate

Funding earned: $21
Price spread: −0.146% → 0.000%: −$14.63
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$18.63
Costs to cover: 0.250%
Break-even: 13.2 days

Slippage unknown: dYdX: no order-book sample; Gate: live order book, 2 min ago. 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 dYdX no order-book sample	—	—	—	—	—
Sell Gate live order book, 2 min ago	6.69 bp	25.4 bp −$25	150.6 bp −$1,506	doesn't fit	doesn't fit

dYdX: 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
Backpack XPL_USDC_PERP	−0.0270%	1h	0.09704	−0.177%	$177K	$281K	10x	as long as short
Lighter XPL	−0.0168%	1h	0.09703	−0.187%	$4.4M	$4.1M	10x	as long as short
01 Exchange XPLUSD	−0.0168%	1h	0.09692	−0.301%	$563	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0096% / S +0.0496%	1h	0.09705	−0.170%	$112K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0059%	1h	0.09704	−0.177%	$47K	$18K	25x	as long as short
dYdX XPL-USDlong	0.0000%	1h	0.09721	long leg	$8K	—	5x
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.123%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09706	−0.155%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0080%	4h	0.09700	−0.218%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0090%	8h	0.09714	−0.071%	$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	0.09698	−0.234%	$1.4M	$2.7M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09732	+0.116%	$62.7M	$47.4M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09719	−0.024%	$251K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09723	+0.014%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09717	−0.047%	$43.6M	$105.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09712	−0.095%	$47.4M	$53.9M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09708	−0.136%	$8.9M	$53.2M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09695	−0.270%	$140K	$8K	10x	as long as short
Gate XPL_USDTshort	+0.0100%	4h	0.09707	−0.146%	$3.0M	$4.0M	75x
MEXC XPL_USDT	+0.0100%	4h	0.09714	−0.074%	$12.6M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09719	−0.023%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09716	−0.054%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09712	−0.095%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09767	+0.473%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09760	+0.399%	$264K	$775K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09710	−0.115%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09707	−0.144%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09680	−0.424%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09700	−0.218%	$204	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09715	−0.064%	$138K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09706	−0.161%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09703	−0.188%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09693	−0.290%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09724	+0.029%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09794	+0.749%	$74K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4604%	1h	0.09750	+0.294%	$513K	$952K	10x	as long as short