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: BingX against gTrade (Gains Network)−0.015%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on BingX

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) XPL/USD	0.09736	L +0.0005% / S −0.0004%	pay 0.0001% / 1h	32m 52s	$72K	—	150x
Short	BingX XPL-USDT	0.09735	0.0100	get 0.0050% / 4h	2h 32m	—	$7.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.015%Rate

Funding earned: $19.85
Price spread: −0.015% → 0.000%: −$1.46
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$1.61
Costs to cover: 0.200%
Break-even: 7.6 days

Slippage unknown: gTrade (Gains Network): no order-book sample; BingX: live order book, 10 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 BingX live order book, 10 min ago	5.09 bp	13.6 bp −$14	28.8 bp −$288	88.6 bp −$8,862	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	−0.0128%	1h	0.09734	−0.025%	$4.4M	$4.3M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0075% / S +0.0483%	1h	0.09736	+0.001%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09746	+0.094%	$8K	—	5x	as long as short
01 Exchange XPLUSD	0.0000%	1h	0.09749	+0.129%	$567	$582	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.245%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09735	−0.015%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USDlong	L +0.0005% / S −0.0004%	1h	0.09736	long leg	$72K	—	150x
Backpack XPL_USDC_PERP	+0.0016%	1h	0.09734	−0.025%	$177K	$283K	10x	as long as short
Orderly PERP_XPL_USDC	+0.0083%	4h	0.09732	−0.045%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0095%	8h	0.09753	+0.168%	$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	0.09728	−0.086%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09752	+0.161%	$62.6M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09736	−0.009%	$252K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09754	+0.177%	$221K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09738	+0.016%	$44.0M	$104.5M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09735	−0.015%	$47.5M	$53.3M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09735	−0.015%	$9.0M	$53.0M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09822	+0.884%	$142K	$11K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09730	−0.066%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09732	−0.045%	$12.7M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09734	−0.025%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09742	+0.057%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDTshort	+0.0100%	4h	0.09735	−0.015%	—	$7.9M	—
Variational Omni XPL	+0.0100%	4h	0.09764	+0.285%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09764	+0.281%	$264K	$786K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09780	+0.448%	$25K	$86K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09746	+0.096%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09730	−0.066%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09730	−0.066%	$202	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09764	+0.283%	$138K	$245K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09731	−0.057%	$658K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09738	+0.013%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09728	−0.086%	$1.7M	$1.1M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09773	+0.376%	$198K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09844	+1.105%	$74K	$105K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3495%	1h	0.09785	+0.500%	$515K	$940K	10x	as long as short