Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.029%

Price spread now: gTrade (Gains Network) against Gate−0.030%7-day average — · you buy dearer than you sell

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

Long on Gate Short on gTrade (Gains Network)

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

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.030% cheaper against Gate than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XPL_USDT	0.09753	0.0100	pay 0.0050% / 4h	2h 37m	$3.0M	$4.0M	75x
Short	gTrade (Gains Network) XPL/USD	0.09750	L +0.0005% / S −0.0004%	get 0.0000% / 1h	37m 50s	$72K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.030%Rate

Funding earned: −$20.18
Price spread: −0.030% → 0.000%: −$3.01
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$48.2
Costs to cover: 0.250%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 5 min ago; gTrade (Gains Network): 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, 5 min ago	5.11 bp	20.9 bp −$21	140.7 bp −$1,407	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

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
Lighter XPL	−0.0192%	1h	0.09738	−0.154%	$4.4M	$4.3M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0160%	1h	0.09751	−0.021%	$47K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0073% / S +0.0481%	1h	0.09750	−0.035%	$112K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0026%	1h	0.09754	+0.010%	$178K	$283K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09750	−0.031%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.377%	—	—	—	as long as short
gTrade (Gains Network) XPL/USDshort	L +0.0005% / S −0.0004%	1h	0.09750	−0.030%	$72K	—	150x
01 Exchange XPLUSD	+0.0008%	1h	0.09742	−0.113%	$566	$582	5x	as long as short
Orderly PERP_XPL_USDC	+0.0082%	4h	0.09752	−0.010%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0094%	8h	0.09748	−0.056%	$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	0.09747	−0.064%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09770	+0.171%	$62.8M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09754	+0.011%	$252K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09750	−0.031%	$221K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09759	+0.062%	$44.1M	$104.3M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09757	+0.041%	$47.6M	$53.2M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09759	+0.062%	$9.0M	$53.0M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09822	+0.712%	$142K	$11K	10x	as long as short
Gate XPL_USDTlong	+0.0100%	4h	0.09753	long leg	$3.0M	$4.0M	75x
MEXC XPL_USDT	+0.0100%	4h	0.09757	+0.041%	$12.7M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09758	+0.051%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09762	+0.092%	$8.6M	$11.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09759	+0.062%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09799	+0.472%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09789	+0.367%	$265K	$786K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09790	+0.379%	$25K	$86K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09759	+0.057%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09730	−0.236%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09750	−0.031%	$203	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09775	+0.226%	$139K	$245K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09759	+0.061%	$656K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09751	−0.016%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09750	−0.031%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09815	+0.636%	$200K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09844	+0.933%	$74K	$105K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3493%	1h	0.09790	+0.382%	$515K	$939K	10x	as long as short