Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: GRVT against dYdX+0.333%50s7-day average — · you sell dearer than you buy

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

Long on dYdX Short on GRVT

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—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and GRVT is 0.333% dearer against dYdX than usual: you sell high and buy low: +$33 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX XPL-USD	0.09637	0	get 0.0000% / 1h	28m 07s	$8K	—	5x
Short	GRVT XPL_USDT_Perp	0.09669	0.0100	get 0.0050% / 4h	28m 07s	$262K	$975K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.333%Rate

Funding earned: $21
Price spread: +0.333% → 0.000%: $33.29
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $35.29
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: dYdX: no order-book sample; GRVT: live order book, 30 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 GRVT live order book, 30 min ago	5.24 bp	55.8 bp −$56	88.8 bp −$888	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
01 Exchange XPLUSD	−0.0384%	1h	0.09619	−0.190%	$559	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0307% / S +0.0612%	1h	0.09625	−0.127%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0166%	1h	0.09621	−0.169%	$46K	$18K	25x	as long as short
Bybit XPLUSDT	−0.0087%	4h	0.09618	−0.200%	$45.5M	$54.7M	75x	as long as short
dYdX XPL-USDlong	0.0000%	1h	0.09637	long leg	$8K	—	5x
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.443%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09627	−0.105%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0013%	4h	0.09616	−0.221%	$29K	$339K	10x	as long as short
Paradex XPL-USD-PERP	+0.0079%	8h	0.09634	−0.034%	$13K	$2K	5x	as long as short
Backpack XPL_USDC_PERP	+0.0094%	1h	0.09622	−0.158%	$178K	$223K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPL	+0.0096%	1h	0.09614	−0.241%	$4.4M	$3.3M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09622	−0.153%	$1.2M	$2.7M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09638	+0.011%	$60.7M	$47.0M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09633	−0.043%	$242K	$460K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09631	−0.065%	$220K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09622	−0.160%	$43.8M	$103.3M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09622	−0.158%	$8.3M	$49.5M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09550	−0.905%	$139K	$5K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09621	−0.169%	$3.0M	$3.6M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09620	−0.179%	$12.3M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09613	−0.252%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09627	−0.107%	$8.6M	$10.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09619	−0.190%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09656	+0.192%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perpshort	+0.0100%	4h	0.09669	+0.333%	$262K	$975K	10x
ApeX Omni XPLUSDT	+0.0100%	1h	0.09630	−0.075%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09638	+0.009%	$124K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09610	−0.283%	$3K	$1.8M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09620	−0.179%	$201	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09673	+0.371%	$141K	$206K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09616	−0.218%	$653K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09620	−0.174%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0334%	1h	0.09585	−0.542%	$194K	$617K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09646	+0.091%	$1.7M	$994K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0616%	1h	0.09676	+0.402%	$75K	$87K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3301%	1h	0.09664	+0.273%	$548K	$975K	10x	as long as short