Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.003%

Price spread now: Polymarket Perps against Gate+0.142%7-day average +0.077% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$700.702% of the position

Long on Gate Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.111%+$11 on $10k

Price spread, last 7 days−0.271%−$27 · spread now +0.142%, 7d avg +0.077%

Together, before fees−0.160%−$16 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: Polymarket Perps is 0.065% dearer against Gate than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.077%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XPL_USDT	0.09688	0.0100	pay 0.0050% / 4h	3h 32m	$3.1M	$3.5M	75x
Short	Polymarket Perps XPL-USD	0.09702	0.0100	get 0.0013% / 1h	32m 47s	$129K	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.142%Rate

Funding earned: $0
Price spread: +0.142% → +0.077%: $6.53
Slippage, 4 orders: −$47.22
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$63.69
Costs to cover: 0.702%
Break-even: never at this rate

Slippage from Gate: live order book, 5 min ago; Polymarket Perps: 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, 5 min ago	3.09 bp	31.1 bp −$31	145.9 bp −$1,459	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 1 min ago	2.63 bp	9.3 bp −$9	9.5 bp −$95	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
01 Exchange XPLUSD	−0.0400%	1h	0.09688	0.000%	$563	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0304% / S +0.0610%	1h	0.09698	+0.104%	$107K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0095%	1h	0.09700	+0.124%	$177K	$190K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09691	+0.032%	$9K	$585	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.853%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09699	+0.114%	$46K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09697	+0.097%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0011%	4h	0.09692	+0.041%	$29K	$339K	10x	as long as short
Paradex XPL-USD-PERP	+0.0047%	8h	0.09679	−0.092%	$13K	$2K	5x	as long as short
Bybit XPLUSDT	+0.0054%	4h	0.09683	−0.052%	$45.9M	$54.3M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPL	+0.0096%	1h	0.09678	−0.103%	$4.4M	$3.0M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09684	−0.041%	$1.2M	$2.5M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09702	+0.140%	$61.5M	$46.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09693	+0.055%	$252K	$454K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09692	+0.037%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09685	−0.027%	$44.0M	$101.5M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09683	−0.052%	$8.2M	$49.0M	50x	as long as short
Gate XPL_USDTlong	+0.0100%	4h	0.09688	long leg	$3.1M	$3.5M	75x
MEXC XPL_USDT	+0.0100%	4h	0.09692	+0.041%	$12.8M	$7.0M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09698	+0.103%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09692	+0.041%	$8.9M	$9.6M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09685	−0.031%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09694	+0.060%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09690	+0.021%	$256K	$1.0M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09720	+0.330%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USDshort	+0.0100%	1h	0.09702	+0.142%	$129K	$2.0M	10x
SunX XPL-USDT	+0.0100%	4h	0.09680	−0.083%	$3K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09690	+0.021%	$201	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09696	+0.083%	$142K	$192K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09680	−0.083%	$141K	$5K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09688	−0.003%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09695	+0.072%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09709	+0.217%	$197K	$573K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09694	+0.062%	$1.7M	$969K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0640%	1h	0.09722	+0.351%	$75K	$76K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3099%	1h	0.09719	+0.325%	$553K	$990K	10x	as long as short