Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0183%/8h= +20.1% APRpaid last 24h +0.010%

Price spread now: Aster against GMX+0.022%7-day average +0.025% · you sell dearer than you buy

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

Long on GMX Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.079%−$8 on $10k

Price spread, last 3 days (all we have)−0.057%−$6 · spread now +0.022%, 7d avg +0.025%

Together, before fees−0.136%+ Points / potential airdropAster: Stage 5 · farm board−$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.025%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate. Mind the row above: over the last 3 days funding on this pair cost −0.079%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX XPL/USD [WBTC.b-USDC]	0.09756	L −0.0083% / S +0.0488%	get 0.0010% / 1h	15m 50s	$112K	—	100x
Short	Aster XPLUSDT	0.09758	0.0100	get 0.0050% / 4h	2h 15m	$252K	$527K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against GMX. 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 GMXbpFee AsterbpOrdersPrice spread, now +0.022%Rate

Funding earned: $38.51
Price spread: +0.022% → +0.025%: −$0.24
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: $18.26
Costs to cover: 0.200%
Break-even: 3.7 days

Slippage unknown: GMX: no order-book sample; Aster: live order book, 7 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell Aster live order book, 7 min ago	7.13 bp	18.3 bp −$18	126.2 bp −$1,262	doesn't fit	doesn't fit

GMX: 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
Deribit XPL_USDC-PERPETUAL	−0.0160%	1h	0.09755	−0.011%	$47K	$18K	25x	as long as short
Lighter XPL	−0.0096%	1h	0.09731	−0.257%	$4.4M	$4.3M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]long	L −0.0083% / S +0.0488%	1h	0.09756	long leg	$112K	—	100x
01 Exchange XPLUSD	−0.0040%	1h	0.09753	−0.032%	$567	$582	5x	as long as short
Backpack XPL_USDC_PERP	−0.0006%	1h	0.09755	−0.011%	$178K	$283K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09759	+0.029%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.402%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09758	+0.018%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0082%	4h	0.09751	−0.052%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0093%	8h	0.09751	−0.054%	$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	0.09753	−0.029%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09750	−0.060%	$62.7M	$47.1M	10x	as long as short
Aster XPLUSDTshort	+0.0100%	4h	0.09758	+0.022%	$252K	$527K	20x
Pacifica XPL	+0.0100%	1h	0.09759	+0.028%	$221K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09742	−0.143%	$44.0M	$105.0M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09740	−0.165%	$47.5M	$53.5M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09739	−0.175%	$9.0M	$53.3M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09815	+0.604%	$141K	$11K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09744	−0.124%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09748	−0.083%	$12.7M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09746	−0.104%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09747	−0.093%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09741	−0.155%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09808	+0.537%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09796	+0.405%	$265K	$775K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09810	+0.552%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09764	+0.080%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09740	−0.165%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09750	−0.063%	$202	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09753	−0.032%	$138K	$245K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09747	−0.090%	$661K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09755	−0.014%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09754	−0.022%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09836	+0.819%	$199K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09805	+0.501%	$74K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3485%	1h	0.09812	+0.569%	$517K	$942K	10x	as long as short