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: BingX against Gate+0.021%7-day average −0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$65as in the Funding arb table

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

costs, in and out, $10k−$860.855% of the position

Long on Gate Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.202%+$20 on $10k

Price spread, last 7 days−0.028%−$3 · spread now +0.021%, 7d avg −0.022%

Together, before fees+0.174%+$17 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: BingX is 0.043% dearer against Gate than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XPL_USDT	0.09749	0.0100	pay 0.0050% / 4h	2h 16m	$3.0M	$4.0M	75x
Short	BingX XPL-USDT	0.09751	0.0100	get 0.0050% / 4h	2h 16m	—	$7.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.021%Rate

Funding earned: $0
Price spread: +0.021% → −0.022%: $4.29
Slippage, 4 orders: −$60.51
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BingX: 5 bp × 2 orders: −$10
Net: −$81.22
Costs to cover: 0.855%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; BingX: live order book, 6 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	6.68 bp	29.8 bp −$30	162.6 bp −$1,626	doesn't fit	doesn't fit
Sell BingX live order book, 6 min ago	4.59 bp	13.7 bp −$14	22.8 bp −$228	88.0 bp −$8,796	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	−0.0160%	1h	0.09755	+0.062%	$47K	$18K	25x	as long as short
Lighter XPL	−0.0088%	1h	0.09743	−0.062%	$4.4M	$4.3M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0083% / S +0.0488%	1h	0.09756	+0.073%	$112K	—	100x	as long as short
01 Exchange XPLUSD	−0.0040%	1h	0.09753	+0.041%	$567	$582	5x	as long as short
Backpack XPL_USDC_PERP	−0.0004%	1h	0.09766	+0.174%	$178K	$283K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09759	+0.102%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.345%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09758	+0.090%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0082%	4h	0.09751	+0.021%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0093%	8h	0.09751	+0.019%	$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	0.09753	+0.044%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09765	+0.168%	$62.8M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09760	+0.108%	$252K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09759	+0.101%	$221K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09750	+0.010%	$44.0M	$105.0M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09751	+0.021%	$47.5M	$53.5M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09750	+0.010%	$9.0M	$53.3M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09815	+0.677%	$141K	$11K	10x	as long as short
Gate XPL_USDTlong	+0.0100%	4h	0.09749	long leg	$3.0M	$4.0M	75x
MEXC XPL_USDT	+0.0100%	4h	0.09750	+0.010%	$12.7M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09758	+0.092%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09758	+0.092%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDTshort	+0.0100%	4h	0.09751	+0.021%	—	$7.9M	—
Variational Omni XPL	+0.0100%	4h	0.09808	+0.610%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09796	+0.478%	$265K	$775K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09810	+0.626%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09764	+0.153%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09740	−0.092%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09750	+0.010%	$202	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09753	+0.041%	$138K	$245K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09749	−0.005%	$661K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09755	+0.058%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09754	+0.051%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09836	+0.892%	$199K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09805	+0.574%	$74K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3485%	1h	0.09812	+0.642%	$517K	$942K	10x	as long as short