Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0014%/8h= −1.5% APRpaid last 24h +0.003%

Price spread now: Gate against Extended−0.021%7-day average +0.063% · you buy dearer than you sell

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$620.621% of the position

Long on Extended Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.152%−$15 on $10k

Price spread, last 4 days (all we have)+0.457%+$46 · spread now −0.021%, 7d avg +0.063%

Together, before fees+0.306%+ Points / potential airdropExtended: Active · farm board+$31 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Gate is 0.083% cheaper against Extended than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.063%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XPL-USD	0.09707	0.0104	pay 0.0013% / 1h	35m 03s	$653K	$1.1M	25x
Short	Gate XPL_USDT	0.09705	0.0090	get 0.0045% / 4h	35m 03s	$3.0M	$4.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Extended. 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 ExtendedbpFee GatebpOrdersPrice spread, now −0.021%Rate

Funding earned: −$2.94
Price spread: −0.021% → +0.063%: −$8.34
Slippage, 4 orders: −$42.09
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$73.37
Costs to cover: 0.621%
Break-even: never at this rate

Slippage from Extended: live order book, 3 min ago; Gate: live order book, 3 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 Extended live order book, 3 min ago	0.51 bp	5.0 bp −$5	20.9 bp −$209	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	3.09 bp	17.4 bp −$17	135.5 bp −$1,355	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
Lighter XPL	−0.0672%	1h	0.09695	−0.124%	$4.4M	$4.1M	10x	as long as short
01 Exchange XPLUSD	−0.0400%	1h	0.09700	−0.072%	$564	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0162%	1h	0.09712	+0.052%	$47K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0133% / S +0.0520%	1h	0.09716	+0.093%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09709	+0.025%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.012%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09715	+0.078%	$76K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0022%	8h	0.09706	−0.006%	$13K	$2K	5x	as long as short
Orderly PERP_XPL_USDC	+0.0054%	4h	0.09707	0.000%	$29K	$335K	10x	as long as short
Gate XPL_USDTshort	+0.0090%	4h	0.09705	−0.021%	$3.0M	$4.0M	75x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XPL-PERP	+0.0100%	1h	0.09710	+0.031%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09724	+0.172%	$62.8M	$48.0M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09715	+0.083%	$252K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09715	+0.079%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09713	+0.062%	$44.1M	$108.0M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09714	+0.072%	$47.4M	$55.2M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09712	+0.052%	$8.8M	$54.3M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09740	+0.341%	$142K	$9K	10x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09711	+0.041%	$12.6M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09714	+0.072%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09718	+0.113%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09710	+0.031%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09714	+0.072%	$179K	$281K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09708	+0.014%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09715	+0.085%	$260K	$806K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09720	+0.134%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09720	+0.136%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09690	−0.175%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09710	+0.031%	$197	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09711	+0.041%	$138K	$234K	20x	as long as short
Extended XPL-USDlong	+0.0104%	1h	0.09707	long leg	$653K	$1.1M	25x
Aevo XPL-PERP	+0.0104%	1h	0.09706	−0.010%	$38K	$5K	3x	as long as short
Phoenix XPL	+0.0327%	1h	0.09751	+0.453%	$197K	$651K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09706	−0.010%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0568%	1h	0.09825	+1.216%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5109%	1h	0.09771	+0.660%	$563K	$1.0M	10x	as long as short