Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: KuCoin against Gate+0.052%7-day average −0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$98as in the Funding arb table

Net, price: spread back to 7d avg − costs−$108as in the Price arb table

costs, in and out, $10k−$1141.139% of the position

Long on Gate Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.157%+$16 on $10k

Price spread, last 7 days−0.094%−$9 · spread now +0.052%, 7d avg −0.006%

Together, before fees+0.062%+$6 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: KuCoin is 0.057% dearer against Gate than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XPL_USDT	0.09635	0.0100	pay 0.0050% / 4h	3h 10m	$3.1M	$3.5M	75x
Short	KuCoin XPLUSDTM	0.09640	0.0100	get 0.0050% / 4h	3h 10m	$2.3M	$1.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.052%Rate

Funding earned: $0
Price spread: +0.052% → −0.006%: $5.74
Slippage, 4 orders: −$86.85
Fee Gate: 7.5 bp × 2 orders: −$15
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$108.11
Costs to cover: 1.139%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; KuCoin: live order book, 1 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, 3 min ago	2.59 bp	26.7 bp −$27	139.4 bp −$1,394	doesn't fit	doesn't fit
Sell KuCoin live order book, 1 min ago	9.86 bp	30.2 bp −$30	155.4 bp −$1,554	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
Deribit XPL_USDC-PERPETUAL	−0.0372%	1h	0.09638	+0.031%	$46K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0368%	1h	0.09626	−0.093%	$560	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0304% / S +0.0610%	1h	0.09645	+0.109%	$106K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0059%	1h	0.09643	+0.083%	$176K	$190K	10x	as long as short
Bybit XPLUSDT	−0.0003%	4h	0.09628	−0.073%	$45.6M	$54.0M	75x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09648	+0.132%	$9K	$585	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.425%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09638	+0.027%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0009%	4h	0.09633	−0.021%	$29K	$339K	10x	as long as short
Lighter XPL	+0.0032%	1h	0.09627	−0.083%	$4.4M	$3.0M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPL-USD-PERP	+0.0048%	8h	0.09633	−0.023%	$13K	$696	5x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09644	+0.089%	$61.2M	$46.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09642	+0.076%	$251K	$422K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09640	+0.052%	$220K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09631	−0.045%	$43.7M	$100.7M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09629	−0.062%	$8.2M	$48.5M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09650	+0.156%	$141K	$5K	10x	as long as short
Gate XPL_USDTlong	+0.0100%	4h	0.09635	long leg	$3.1M	$3.5M	75x
MEXC XPL_USDT	+0.0100%	4h	0.09628	−0.073%	$12.7M	$7.1M	100x	as long as short
KuCoin XPLUSDTMshort	+0.0100%	4h	0.09640	+0.052%	$2.3M	$1.4M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09643	+0.083%	$9.1M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09632	−0.031%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09633	−0.024%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09655	+0.210%	$260K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09670	+0.363%	$25K	$78K	50x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09635	−0.005%	$1.2M	$2.4M	10x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09640	+0.055%	$128K	$1.9M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09620	−0.156%	$3K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09640	+0.052%	$201	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09643	+0.083%	$141K	$185K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09629	−0.064%	$653K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09635	0.000%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09670	+0.363%	$196K	$573K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09639	+0.042%	$1.8M	$959K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0640%	1h	0.09708	+0.758%	$75K	$76K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3115%	1h	0.09669	+0.351%	$550K	$990K	10x	as long as short