Funding arb · Price arb /

XPL

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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: MEXC against gTrade (Gains Network)−0.068%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 MEXC

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

Funding pays, the price is against you. MEXC is 0.068% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.068% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 2.4 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	gTrade (Gains Network) XPL/USD	0.09807	L +0.0005% / S −0.0004%	pay 0.0001% / 1h	20m 29s	$72K	—	150x
Short	MEXC XPL_USDT	0.09800	0.0100	get 0.0050% / 4h	2h 20m	$12.9M	$7.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.068%Rate

Funding earned: $19.85
Price spread: −0.068% → 0.000%: −$6.8
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: $3.05
Costs to cover: 0.100%
Break-even: 5.9 days

Slippage unknown: gTrade (Gains Network): no order-book sample; MEXC: live order book, 3 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 MEXC live order book, 3 min ago	0.51 bp	0.7 bp −$1	8.3 bp −$83	87.0 bp −$8,696	231.0 bp −$115.5K

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
GMX XPL/USD [WBTC.b-USDC]	L −0.0081% / S +0.0487%	1h	0.09804	−0.028%	$113K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0056%	1h	0.09809	+0.024%	$47K	$18K	25x	as long as short
Lighter XPL	−0.0048%	1h	0.09804	−0.027%	$4.4M	$4.3M	10x	as long as short
01 Exchange XPLUSD	−0.0024%	1h	0.09806	−0.007%	$570	$582	5x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09815	+0.084%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.803%	—	—	—	as long as short
gTrade (Gains Network) XPL/USDlong	L +0.0005% / S −0.0004%	1h	0.09807	long leg	$72K	—	150x
Backpack XPL_USDC_PERP	+0.0015%	1h	0.09805	−0.017%	$179K	$283K	10x	as long as short
Orderly PERP_XPL_USDC	+0.0083%	4h	0.09806	−0.007%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0094%	8h	0.09817	+0.105%	$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	0.09803	−0.035%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09815	+0.084%	$63.1M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09817	+0.105%	$254K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09814	+0.079%	$222K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09800	−0.068%	$44.2M	$104.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09801	−0.058%	$47.8M	$53.5M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09801	−0.058%	$9.1M	$53.5M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09815	+0.085%	$141K	$11K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09810	+0.034%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDTshort	+0.0100%	4h	0.09800	−0.068%	$12.9M	$7.7M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09804	−0.027%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09803	−0.037%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09801	−0.058%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09812	+0.056%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09790	−0.170%	$265K	$786K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09790	−0.170%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09811	+0.042%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09790	−0.170%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09800	−0.068%	$204	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09817	+0.105%	$139K	$245K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09810	+0.032%	$664K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09808	+0.015%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09813	+0.065%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09836	+0.299%	$199K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09832	+0.258%	$74K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3467%	1h	0.09863	+0.576%	$520K	$941K	10x	as long as short