Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Polymarket Perps against GRVT−0.472%63s7-day average +0.122% · you buy dearer than you sell

Net, funding: paid 7d − costs−$248as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2432.435% of the position

Long on GRVT Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.045%−$5 on $10k

Price spread, last 4 days (all we have)+0.559%+$56 · spread now −0.472%, 7d avg +0.122%

Together, before fees+0.514%+ Points / potential airdropGRVT: Active · farm board+$51 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 0.594% cheaper against GRVT than usual: you would sell low and buy high, −$59 on $10k if it goes back to its 7-day average of +0.122%. The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.

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 40m	$258K	$1.1M	10x
Short	Polymarket Perps XPL-USD	0.09543	0.0100	get 0.0013% / 1h	40m 00s	$125K	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.472%Rate

Funding earned: $0
Price spread: −0.472% → +0.122%: −$59.42
Slippage, 4 orders: −$226.46
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$302.87
Costs to cover: 2.435%
Break-even: never at this rate

Slippage from GRVT: live order book, 3 min ago; Polymarket Perps: live order book, 4 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, 3 min ago	5.22 bp	174.6 bp −$175	444.2 bp −$4,442	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 4 min ago	2.25 bp	7.6 bp −$8	8.1 bp −$81	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	−0.0274%	1h	0.09540	−0.506%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09540	−0.501%	$105K	—	100x	as long as short
01 Exchange XPLUSD	−0.0216%	1h	0.09524	−0.672%	$554	$708	5x	as long as short
Lighter XPL	−0.0048%	1h	0.09528	−0.631%	$4.3M	$3.0M	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09538	−0.522%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.042%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09544	−0.464%	$72K	—	150x	as long as short
Backpack XPL_USDC_PERP	+0.0012%	1h	0.09536	−0.547%	$173K	$190K	10x	as long as short
Orderly PERP_XPL_USDC	+0.0015%	4h	0.09535	−0.558%	$29K	$320K	10x	as long as short
Paradex XPL-USD-PERP	+0.0064%	8h	0.09530	−0.606%	$12K	$696	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	0.09530	−0.610%	$1.2M	$2.4M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09546	−0.446%	$60.3M	$46.8M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09541	−0.495%	$247K	$430K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09536	−0.549%	$218K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09531	−0.600%	$43.3M	$100.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09529	−0.620%	$45.2M	$54.3M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09527	−0.641%	$8.1M	$48.1M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09565	−0.240%	$139K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09539	−0.516%	$3.0M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09531	−0.599%	$12.4M	$6.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09537	−0.537%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09534	−0.568%	$9.1M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09532	−0.589%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09544	−0.459%	$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	0.09570	−0.193%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USDshort	+0.0100%	1h	0.09543	−0.472%	$125K	$2.0M	10x
SunX XPL-USDT	+0.0100%	4h	0.09510	−0.819%	$3K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09530	−0.610%	$201	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09532	−0.589%	$139K	$184K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09533	−0.577%	$632K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09537	−0.540%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09575	−0.141%	$194K	$536K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09548	−0.422%	$1.7M	$943K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0592%	1h	0.09640	+0.537%	$67K	$90K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2905%	1h	0.09571	−0.185%	$544K	$988K	10x	as long as short