Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0095%/8h= +10.4% APRpaid last 24h +0.028%

Price spread now: OKX against gTrade (Gains Network)−0.300%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 OKX

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. OKX is 0.300% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.300% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$30 on $10k: about 11 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	0.09608	L +0.0005% / S −0.0004%	pay 0.0001% / 1h	2m 45s	$72K	—	150x
Short	OKX XPL-USDT-SWAP	0.09579	0.0100	get 0.0050% / 4h	3h 02m	$8.2M	$48.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.300%Rate

Funding earned: $19.85
Price spread: −0.300% → 0.000%: −$29.97
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$30.11
Costs to cover: 0.200%
Break-even: 17.6 days

Slippage unknown: gTrade (Gains Network): no order-book sample; OKX: live order book, 1 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 OKX live order book, 1 min ago	0.52 bp	13.6 bp −$14	38.1 bp −$381	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
01 Exchange XPLUSD	−0.0368%	1h	0.09603	−0.050%	$558	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09607	−0.003%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0062%	1h	0.09605	−0.029%	$46K	$18K	25x	as long as short
Backpack XPL_USDC_PERP	−0.0060%	1h	0.09608	+0.002%	$175K	$190K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09612	+0.041%	$9K	$585	5x	as long as short
Bybit XPLUSDT	0.0000%	4h	0.09579	−0.300%	$45.3M	$54.1M	75x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.202%	—	—	—	as long as short
gTrade (Gains Network) XPL/USDlong	L +0.0005% / S −0.0004%	1h	0.09608	long leg	$72K	—	150x
Orderly PERP_XPL_USDC	+0.0008%	4h	0.09601	−0.071%	$29K	$339K	10x	as long as short
Lighter XPL	+0.0016%	1h	0.09576	−0.331%	$4.3M	$3.0M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPL-USD-PERP	+0.0050%	8h	0.09607	−0.005%	$12K	$696	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09609	+0.010%	$1.2M	$2.4M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09590	−0.186%	$60.7M	$46.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09596	−0.124%	$250K	$423K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09611	+0.038%	$220K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09583	−0.257%	$43.5M	$100.7M	75x	as long as short
OKX XPL-USDT-SWAPshort	+0.0100%	4h	0.09579	−0.300%	$8.2M	$48.3M	50x
Bulk XPL-USD	+0.0100%	1h	0.09650	+0.439%	$141K	$5K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09593	−0.154%	$3.1M	$3.5M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09598	−0.102%	$12.7M	$7.1M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09603	−0.050%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09589	−0.196%	$9.1M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09588	−0.206%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09625	+0.177%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09613	+0.056%	$259K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09630	+0.231%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09617	+0.097%	$128K	$1.9M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09590	−0.185%	$3K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09600	−0.081%	$199	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09611	+0.033%	$141K	$184K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09596	−0.125%	$650K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09600	−0.081%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09646	+0.398%	$195K	$573K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09605	−0.029%	$1.7M	$950K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0640%	1h	0.09708	+1.043%	$75K	$76K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3124%	1h	0.09640	+0.331%	$548K	$988K	10x	as long as short