Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0172%/8h= +18.8% APRpaid last 24h +0.010%

Price spread now: Gate against GMX−0.142%7-day average −0.010% · you buy dearer than you sell

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

Long on GMX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.093%−$9 on $10k

Price spread, last 3 days (all we have)+0.007%+$1 · spread now −0.142%, 7d avg −0.010%

Together, before fees−0.086%−$9 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 0.132% cheaper against GMX than usual: you would sell low and buy high (spread −0.142% now, against its 7-day average of −0.010%). If the spread goes back, that is −$13 on $10k: about 2.6 days of funding at the current rate (+$5 a day). Mind the row above: over the last 3 days funding on this pair cost −0.093%, 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]	0.09767	L −0.0072% / S +0.0480%	get 0.0009% / 1h	39m 26s	$113K	—	100x
Short	Gate XPL_USDT	0.09753	0.0100	get 0.0050% / 4h	2h 39m	$3.0M	$4.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.142%Rate

Funding earned: $36.06
Price spread: −0.142% → −0.010%: −$13.25
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$4.19
Costs to cover: 0.270%
Break-even: 7.8 days

Slippage unknown: GMX: no order-book sample; Gate: live order book, 4 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 Gate live order book, 4 min ago	5.11 bp	27.3 bp −$27	153.3 bp −$1,533	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	−0.0467%	1h	0.09752	−0.153%	$47K	$18K	25x	as long as short
Lighter XPL	−0.0224%	1h	0.09737	−0.306%	$4.4M	$4.3M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]long	L −0.0072% / S +0.0480%	1h	0.09767	long leg	$113K	—	100x
dYdX XPL-USD	0.0000%	1h	0.09758	−0.089%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.488%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09753	−0.142%	$72K	—	150x	as long as short
01 Exchange XPLUSD	+0.0016%	1h	0.09747	−0.204%	$567	$582	5x	as long as short
Backpack XPL_USDC_PERP	+0.0025%	1h	0.09758	−0.091%	$178K	$283K	10x	as long as short
Orderly PERP_XPL_USDC	+0.0082%	4h	0.09754	−0.132%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0094%	8h	0.09761	−0.064%	$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	−0.109%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09762	−0.052%	$62.7M	$47.0M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09751	−0.161%	$252K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09758	−0.088%	$221K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09750	−0.169%	$44.1M	$104.2M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09748	−0.194%	$47.6M	$53.2M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09748	−0.194%	$9.0M	$53.0M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09822	+0.569%	$142K	$11K	10x	as long as short
Gate XPL_USDTshort	+0.0100%	4h	0.09753	−0.142%	$3.0M	$4.0M	75x
MEXC XPL_USDT	+0.0100%	4h	0.09748	−0.194%	$12.7M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09756	−0.112%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09755	−0.122%	$8.6M	$11.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09753	−0.142%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09799	+0.329%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09789	+0.224%	$265K	$786K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09790	+0.237%	$25K	$86K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09759	−0.083%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09760	−0.071%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09750	−0.173%	$202	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09775	+0.083%	$139K	$245K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09754	−0.134%	$656K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09753	−0.143%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09780	+0.134%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09815	+0.492%	$200K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09844	+0.789%	$74K	$105K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3488%	1h	0.09803	+0.368%	$516K	$939K	10x	as long as short