Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against Gate−0.143%7-day average −0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$81as in the Price arb table

costs, in and out, $10k−$690.688% of the position

Long on Gate Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.179%+$18 on $10k

Price spread, last 7 days+0.139%+$14 · spread now −0.143%, 7d avg −0.020%

Together, before fees+0.318%+$32 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.123% cheaper against Gate than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of −0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XPL_USDT	0.09796	0.0100	pay 0.0050% / 4h	2h 41m	$3.0M	$4.0M	75x
Short	Binance XPLUSDT	0.09782	0.0100	get 0.0050% / 4h	2h 41m	$44.2M	$104.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Gate. 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 GatebpFee BinancebpOrdersPrice spread, now −0.143%Rate

Funding earned: $0
Price spread: −0.143% → −0.020%: −$12.25
Slippage, 4 orders: −$43.78
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Binance: 5 bp × 2 orders: −$10
Net: −$81.03
Costs to cover: 0.688%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; Binance: live order book, 2 min ago.

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 Gate live order book, 2 min ago	5.11 bp	20.9 bp −$21	140.7 bp −$1,407	doesn't fit	doesn't fit
Sell Binance live order book, 2 min ago	0.51 bp	11.2 bp −$11	28.1 bp −$281	130.8 bp −$13.1K	doesn't fit

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
Deribit XPL_USDC-PERPETUAL	−0.0465%	1h	0.09789	−0.071%	$47K	$18K	25x	as long as short
Lighter XPL	−0.0160%	1h	0.09776	−0.204%	$4.4M	$4.3M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0071% / S +0.0480%	1h	0.09802	+0.065%	$113K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0012%	1h	0.09834	+0.388%	$182K	$282K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09811	+0.150%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.719%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09803	+0.073%	$72K	—	150x	as long as short
01 Exchange XPLUSD	+0.0040%	1h	0.09802	+0.061%	$570	$582	5x	as long as short
Orderly PERP_XPL_USDC	+0.0082%	4h	0.09794	−0.020%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0095%	8h	0.09813	+0.174%	$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	0.09802	+0.064%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09813	+0.175%	$63.1M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09806	+0.098%	$254K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09813	+0.169%	$222K	$19K	10x	as long as short
Binance XPLUSDTshort	+0.0100%	4h	0.09782	−0.143%	$44.2M	$104.2M	75x
Bybit XPLUSDT	+0.0100%	4h	0.09785	−0.112%	$47.8M	$53.1M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09781	−0.153%	$9.0M	$53.1M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09822	+0.270%	$142K	$11K	10x	as long as short
Gate XPL_USDTlong	+0.0100%	4h	0.09796	long leg	$3.0M	$4.0M	75x
MEXC XPL_USDT	+0.0100%	4h	0.09785	−0.112%	$12.8M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09789	−0.071%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09794	−0.020%	$8.6M	$11.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09794	−0.020%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09793	−0.030%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09770	−0.264%	$256K	$777K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09790	−0.061%	$25K	$86K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09811	+0.152%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09780	−0.163%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09780	−0.163%	$203	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09791	−0.051%	$139K	$245K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09789	−0.068%	$660K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09793	−0.033%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09780	−0.163%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09810	+0.143%	$200K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09844	+0.490%	$74K	$105K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3473%	1h	0.09845	+0.502%	$518K	$939K	10x	as long as short