Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0095%/8h= +10.4% APRpaid last 24h +0.028%

Price spread now: Aster against gTrade (Gains Network)+0.067%7-day average — · you sell dearer than you buy

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

Long on gTrade (Gains Network)Short on Aster

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—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Aster is 0.067% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$7 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) XPL/USD	0.09731	L +0.0005% / S −0.0004%	pay 0.0001% / 1h	50m 21s	$72K	—	150x
Short	Aster XPLUSDT	0.09738	0.0100	get 0.0050% / 4h	2h 50m	$252K	$527K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee AsterbpOrdersPrice spread, now +0.067%Rate

Funding earned: $19.85
Price spread: +0.067% → 0.000%: $6.65
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: $8.5
Costs to cover: 0.180%
Break-even: 4.0 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Aster: live order book, 37 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Aster live order book, 37 min ago	4.04 bp	19.9 bp −$20	163.0 bp −$1,630	doesn't fit	doesn't fit

gTrade (Gains Network): 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
Lighter XPL	−0.0248%	1h	0.09724	−0.073%	$4.4M	$4.2M	10x	as long as short
Backpack XPL_USDC_PERP	−0.0215%	1h	0.09740	+0.091%	$180K	$283K	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0160%	1h	0.09745	+0.142%	$47K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0067% / S +0.0477%	1h	0.09727	−0.039%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09730	−0.012%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.200%	—	—	—	as long as short
gTrade (Gains Network) XPL/USDlong	L +0.0005% / S −0.0004%	1h	0.09731	long leg	$72K	—	150x
Orderly PERP_XPL_USDC	+0.0079%	4h	0.09725	−0.063%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0095%	8h	0.09739	+0.076%	$13K	$2K	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09731	−0.002%	$1.4M	$2.6M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid XPL	+0.0100%	1h	0.09734	+0.029%	$62.9M	$46.8M	10x	as long as short
Aster XPLUSDTshort	+0.0100%	4h	0.09738	+0.067%	$252K	$527K	20x
Pacifica XPL	+0.0100%	1h	0.09739	+0.079%	$221K	$19K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09724	−0.071%	$44.3M	$103.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09720	−0.115%	$46.9M	$52.5M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09727	−0.043%	$9.0M	$52.7M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09721	−0.104%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09730	−0.012%	$12.8M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09722	−0.094%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09733	+0.019%	$8.6M	$11.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09724	−0.073%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09735	+0.035%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09760	+0.295%	$265K	$782K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09720	−0.115%	$25K	$84K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09736	+0.050%	$131K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09730	−0.012%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09730	−0.012%	$207	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09702	−0.300%	$138K	$245K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09730	−0.012%	$140K	$11K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09731	+0.002%	$653K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09729	−0.021%	$38K	$5K	3x	as long as short
01 Exchange XPLUSD	+0.0272%	1h	0.09727	−0.043%	$566	$582	5x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09737	+0.060%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09742	+0.111%	$199K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09965	+2.403%	$75K	$106K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3476%	1h	0.09838	+1.101%	$488K	$898K	10x	as long as short