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 0.000%

Price spread now: SunX against Gate−0.236%7-day average −0.178% · you buy dearer than you sell

Net, funding: paid 7d − costs−$339as in the Funding arb table

Net, price: spread back to 7d avg − costs−$365as in the Price arb table

costs, in and out, $10k−$3593.593% of the position

Long on Gate Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.208%+$21 on $10k

Price spread, last 3 days (all we have)−0.113%−$11 · spread now −0.236%, 7d avg −0.178%

Together, before fees+0.094%+$9 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: SunX is 0.057% cheaper against Gate than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.178%.

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 39m	$3.0M	$4.0M	75x
Short	SunX XPL-USDT	0.09730	0.0100	get 0.0050% / 4h	2h 39m	$2K	$2.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.236%Rate

Funding earned: $0
Price spread: −0.236% → −0.178%: −$5.74
Slippage, 4 orders: −$336.35
Fee Gate: 7.5 bp × 2 orders: −$15
Fee SunX: 4 bp × 2 orders: −$8
Net: −$365.09
Costs to cover: 3.593%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; SunX: live order book, 7 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, 4 min ago	5.11 bp	20.9 bp −$21	140.7 bp −$1,407	doesn't fit	doesn't fit
Sell SunX live order book, 7 min ago	35.81 bp	150.7 bp −$151	doesn't fit	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	−0.0571%	1h	0.09737	−0.164%	$47K	$18K	25x	as long as short
Lighter XPL	−0.0224%	1h	0.09726	−0.277%	$4.4M	$4.3M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0072% / S +0.0481%	1h	0.09754	+0.009%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09758	+0.053%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.377%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09753	0.000%	$72K	—	150x	as long as short
01 Exchange XPLUSD	+0.0016%	1h	0.09747	−0.062%	$567	$582	5x	as long as short
Backpack XPL_USDC_PERP	+0.0025%	1h	0.09758	+0.051%	$178K	$283K	10x	as long as short
Orderly PERP_XPL_USDC	+0.0082%	4h	0.09742	−0.113%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0094%	8h	0.09761	+0.078%	$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	0.09756	+0.033%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09762	+0.090%	$62.7M	$47.0M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09754	+0.013%	$252K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09758	+0.054%	$221K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09736	−0.174%	$44.0M	$104.2M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09743	−0.103%	$47.6M	$53.2M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09736	−0.174%	$9.0M	$52.9M	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	0.09748	−0.051%	$12.7M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09756	+0.031%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09743	−0.103%	$8.6M	$11.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09747	−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	+0.059%	$129K	$2.7M	10x	as long as short
SunX XPL-USDTshort	+0.0100%	4h	0.09730	−0.236%	$2K	$2.0M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09730	−0.236%	$205	$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	0.09737	−0.166%	$656K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09740	−0.129%	$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	+0.3495%	1h	0.09785	+0.328%	$515K	$939K	10x	as long as short