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 −0.020%

Price spread now: GRVT against Gate+0.452%7-day average −0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$161as in the Funding arb table

Net, price: spread back to 7d avg − costs−$132as in the Price arb table

costs, in and out, $10k−$1791.795% of the position

Long on Gate Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.188%+$19 on $10k

Price spread, last 3 days (all we have)−0.151%−$15 · spread now +0.452%, 7d avg −0.024%

Together, before fees+0.037%+ Points / potential airdropGRVT: Active · farm board+$4 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: GRVT is 0.476% dearer against Gate than usual: you sell high and buy low, +$48 on $10k if it goes back to its 7-day average of −0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XPL_USDT	0.09722	0.0100	pay 0.0050% / 4h	1h 21m	$3.0M	$4.0M	75x
Short	GRVT XPL_USDT_Perp	0.09766	0.0100	get 0.0050% / 4h	1h 21m	$260K	$787K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.452%Rate

Funding earned: $0
Price spread: +0.452% → −0.024%: $47.58
Slippage, 4 orders: −$155.46
Fee Gate: 7.5 bp × 2 orders: −$15
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$131.89
Costs to cover: 1.795%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; GRVT: live order book, 62 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	3.08 bp	24.5 bp −$25	152.5 bp −$1,525	doesn't fit	doesn't fit
Sell GRVT live order book, 62 min ago	5.11 bp	81.2 bp −$81	327.5 bp −$3,275	doesn't fit	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
Backpack XPL_USDC_PERP	−0.0300%	1h	0.09727	+0.051%	$177K	$282K	10x	as long as short
Lighter XPL	−0.0240%	1h	0.09719	−0.031%	$4.4M	$4.1M	10x	as long as short
01 Exchange XPLUSD	−0.0216%	1h	0.09722	0.000%	$565	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0110% / S +0.0505%	1h	0.09734	+0.119%	$112K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0058%	1h	0.09732	+0.103%	$47K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09739	+0.176%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.130%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09732	+0.099%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0072%	4h	0.09728	+0.062%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0082%	8h	0.09736	+0.146%	$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
Hyperliquid XPL	+0.0100%	1h	0.09735	+0.138%	$62.9M	$47.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09736	+0.145%	$252K	$526K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09745	+0.233%	$222K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09726	+0.045%	$43.9M	$106.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09729	+0.072%	$48.0M	$54.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09722	0.000%	$8.9M	$53.9M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09688	−0.348%	$141K	$10K	10x	as long as short
Gate XPL_USDTlong	+0.0100%	4h	0.09722	long leg	$3.0M	$4.0M	75x
MEXC XPL_USDT	+0.0100%	4h	0.09725	+0.031%	$12.6M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09725	+0.031%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09731	+0.093%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09720	−0.021%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09689	−0.336%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perpshort	+0.0100%	4h	0.09766	+0.452%	$260K	$787K	10x
ApeX Omni XPLUSDT	+0.0100%	1h	0.09780	+0.597%	$25K	$87K	50x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09728	+0.057%	$1.4M	$2.6M	10x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09735	+0.137%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09710	−0.123%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09730	+0.082%	$448	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09737	+0.154%	$138K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09729	+0.073%	$660K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09730	+0.082%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09748	+0.267%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09744	+0.226%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09760	+0.391%	$72K	$104K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4585%	1h	0.09790	+0.704%	$562K	$996K	10x	as long as short