Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0095%/8h= +10.4% APRpaid last 24h +0.028%

Price spread now: SunX against gTrade (Gains Network)−0.305%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 SunX

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. SunX is 0.305% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.305% 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	0.09700	L +0.0005% / S −0.0004%	pay 0.0001% / 1h	30m 38s	$72K	—	150x
Short	SunX XPL-USDT	0.09670	0.0100	get 0.0050% / 4h	1h 30m	$2K	$2.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.305%Rate

Funding earned: $19.85
Price spread: −0.305% → 0.000%: −$30.46
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$28.6
Costs to cover: 0.180%
Break-even: 17.1 days

Slippage unknown: gTrade (Gains Network): no order-book sample; SunX: live order book, 5 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 SunX live order book, 5 min ago	36.14 bp	152.1 bp −$152	doesn't fit	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
Backpack XPL_USDC_PERP	−0.0382%	1h	0.09691	−0.088%	$176K	$281K	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0266%	1h	0.09691	−0.088%	$46K	$18K	25x	as long as short
Lighter XPL	−0.0216%	1h	0.09683	−0.171%	$4.4M	$4.1M	10x	as long as short
01 Exchange XPLUSD	−0.0216%	1h	0.09703	+0.036%	$564	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0105% / S +0.0502%	1h	0.09699	−0.006%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09701	+0.014%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−21.951%	—	—	—	as long as short
gTrade (Gains Network) XPL/USDlong	L +0.0005% / S −0.0004%	1h	0.09700	long leg	$72K	—	150x
Orderly PERP_XPL_USDC	+0.0076%	4h	0.09689	−0.109%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0087%	8h	0.09699	−0.005%	$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	0.09699	0.000%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09711	+0.117%	$62.8M	$47.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09704	+0.043%	$251K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09703	+0.037%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09697	−0.024%	$43.6M	$106.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09696	−0.036%	$47.1M	$54.1M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09694	−0.057%	$8.8M	$53.4M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09688	−0.117%	$141K	$10K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09695	−0.047%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09698	−0.016%	$12.6M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09690	−0.098%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09706	+0.067%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09698	−0.016%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09701	+0.019%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09687	−0.126%	$260K	$777K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09730	+0.314%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09708	+0.083%	$129K	$2.7M	10x	as long as short
SunX XPL-USDTshort	+0.0100%	4h	0.09670	−0.305%	$2K	$2.0M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09690	−0.098%	$446	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09708	+0.087%	$138K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09696	−0.034%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09697	−0.027%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09692	−0.078%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09723	+0.242%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09760	+0.623%	$72K	$104K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4605%	1h	0.09749	+0.513%	$521K	$963K	10x	as long as short