Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0567%/8h= −62.1% APRpaid last 24h −0.075%

Price spread now: Deribit against Gate+0.031%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Gate Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 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

The price spread pays, funding is against you. Deribit is 0.031% dearer against Gate than usual: you sell high and buy low (spread +0.031% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 4 hours.

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 39m	$3.0M	$4.0M	75x
Short	Deribit XPL_USDC-PERPETUAL	0.09752	−0.0467	pay 0.0058% / 1h	39m 57s	$47K	$18K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.031%Rate

Funding earned: −$119.13
Price spread: +0.031% → 0.000%: $3.08
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$138.05
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 3 min ago; Deribit: no order-book sample. 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 Gate live order book, 3 min ago	5.11 bp	20.9 bp −$21	140.7 bp −$1,407	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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
Deribit XPL_USDC-PERPETUALshort	−0.0467%	1h	0.09752	+0.031%	$47K	$18K	25x
Lighter XPL	−0.0224%	1h	0.09742	−0.072%	$4.4M	$4.3M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0072% / S +0.0480%	1h	0.09767	+0.184%	$113K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09796	+0.487%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.346%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09768	+0.196%	$72K	—	150x	as long as short
01 Exchange XPLUSD	+0.0024%	1h	0.09776	+0.277%	$568	$582	5x	as long as short
Backpack XPL_USDC_PERP	+0.0025%	1h	0.09758	+0.092%	$178K	$283K	10x	as long as short
Orderly PERP_XPL_USDC	+0.0082%	4h	0.09754	+0.051%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0095%	8h	0.09787	+0.394%	$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	0.09777	+0.287%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09763	+0.144%	$62.8M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09754	+0.055%	$252K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09797	+0.488%	$222K	$19K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09749	0.000%	$44.1M	$104.2M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09748	−0.010%	$47.6M	$53.1M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09747	−0.021%	$9.0M	$53.0M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09822	+0.754%	$142K	$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	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09745	−0.041%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09754	+0.051%	$8.6M	$11.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09751	+0.021%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09799	+0.513%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09770	+0.217%	$256K	$777K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09790	+0.421%	$25K	$86K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09781	+0.330%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09760	+0.113%	$3K	$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	0.09775	+0.267%	$139K	$245K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09746	−0.027%	$656K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09753	+0.040%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09780	+0.318%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09810	+0.626%	$200K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09844	+0.974%	$74K	$105K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3488%	1h	0.09803	+0.553%	$516K	$939K	10x	as long as short