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: Gate against GRVT−0.057%7-day average +0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$257as in the Funding arb table

Net, price: spread back to 7d avg − costs−$250as in the Price arb table

costs, in and out, $10k−$2422.418% of the position

Long on GRVT Short on Gate

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)−0.162%−$16 · spread now −0.057%, 7d avg +0.027%

Together, before fees−0.319%+ Points / potential airdropGRVT: Active · farm board−$32 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: Gate is 0.084% cheaper against GRVT than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT XPL_USDT_Perp	0.09588	0.0100	pay 0.0050% / 4h	2h 43m	$258K	$1.1M	10x
Short	Gate XPL_USDT	0.09583	0.0100	get 0.0050% / 4h	2h 43m	$3.1M	$3.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against GRVT. 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 GRVTbpFee GatebpOrdersPrice spread, now −0.057%Rate

Funding earned: $0
Price spread: −0.057% → +0.027%: −$8.41
Slippage, 4 orders: −$217.82
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$250.23
Costs to cover: 2.418%
Break-even: never at this rate

Slippage from GRVT: live order book, 5 min ago; Gate: live order book, 5 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 GRVT live order book, 5 min ago	5.22 bp	131.0 bp −$131	436.4 bp −$4,364	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	1.04 bp	23.6 bp −$24	133.7 bp −$1,337	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
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09568	−0.218%	$106K	—	100x	as long as short
01 Exchange XPLUSD	−0.0208%	1h	0.09571	−0.182%	$556	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0063%	1h	0.09592	+0.037%	$46K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09586	−0.022%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.043%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09570	−0.198%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0015%	4h	0.09587	−0.015%	$29K	$320K	10x	as long as short
Lighter XPL	+0.0024%	1h	0.09569	−0.203%	$4.3M	$3.0M	10x	as long as short
Paradex XPL-USD-PERP	+0.0064%	8h	0.09575	−0.141%	$12K	$696	5x	as long as short
Backpack XPL_USDC_PERP	+0.0096%	1h	0.09590	+0.016%	$174K	$190K	10x	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	0.09567	−0.219%	$1.2M	$2.4M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09581	−0.074%	$60.5M	$46.8M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09575	−0.141%	$248K	$430K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09583	−0.061%	$219K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09564	−0.255%	$43.4M	$100.5M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09562	−0.276%	$45.3M	$54.3M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09566	−0.234%	$8.1M	$48.3M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09592	+0.032%	$140K	$0	10x	as long as short
Gate XPL_USDTshort	+0.0100%	4h	0.09583	−0.057%	$3.1M	$3.4M	75x
MEXC XPL_USDT	+0.0100%	4h	0.09569	−0.203%	$12.5M	$6.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09578	−0.109%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09574	−0.151%	$9.1M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09564	−0.255%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09566	−0.236%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perplong	+0.0100%	4h	0.09588	long leg	$258K	$1.1M	10x
ApeX Omni XPLUSDT	+0.0100%	1h	0.09600	+0.120%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09578	−0.113%	$125K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09580	−0.088%	$2K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09590	+0.016%	$199	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09592	+0.037%	$140K	$184K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09573	−0.161%	$637K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09588	−0.003%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09600	+0.120%	$194K	$536K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09578	−0.109%	$1.7M	$946K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0592%	1h	0.09640	+0.537%	$67K	$91K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2891%	1h	0.09615	+0.279%	$546K	$988K	10x	as long as short