Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: Gate against MEXC+0.071%7-day average +0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$560.560% of the position

Long on MEXC Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.147%−$15 on $10k

Price spread, last 7 days−0.057%−$6 · spread now +0.071%, 7d avg +0.016%

Together, before fees−0.204%−$20 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 0.055% dearer against MEXC than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XPL_USDT	0.09846	0.0100	pay 0.0050% / 4h	3h 18m	$13.0M	$7.7M	100x
Short	Gate XPL_USDT	0.09853	0.0100	get 0.0050% / 4h	3h 18m	$3.1M	$4.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against MEXC. 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 MEXCbpFee GatebpOrdersPrice spread, now +0.071%Rate

Funding earned: $0
Price spread: +0.071% → +0.016%: $5.51
Slippage, 4 orders: −$40.99
Fee MEXC: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$50.47
Costs to cover: 0.560%
Break-even: never at this rate

Slippage from MEXC: 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 MEXC live order book, 5 min ago	0.50 bp	2.6 bp −$3	11.1 bp −$111	93.4 bp −$9,339	232.8 bp −$116.4K
Sell Gate live order book, 5 min ago	3.53 bp	24.1 bp −$24	142.4 bp −$1,424	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	−0.0459%	1h	0.09871	+0.254%	$47K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0176%	1h	0.09867	+0.213%	$574	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0170% / S +0.0544%	1h	0.09887	+0.413%	$114K	—	100x	as long as short
Lighter XPL	0.0000%	1h	0.09842	−0.041%	$4.5M	$4.2M	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09848	+0.021%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−23.112%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09881	+0.354%	$77K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0023%	4h	0.09870	+0.244%	$30K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0046%	8h	0.09844	−0.016%	$13K	$2K	5x	as long as short
Backpack XPL_USDC_PERP	+0.0095%	1h	0.09862	+0.163%	$185K	$271K	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	0.09874	+0.282%	$1.5M	$2.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09858	+0.121%	$255K	$534K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09850	+0.041%	$224K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09871	+0.254%	$45.2M	$108.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09874	+0.284%	$48.0M	$56.2M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09868	+0.223%	$8.7M	$55.9M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09870	+0.244%	$144K	$2K	10x	as long as short
Gate XPL_USDTshort	+0.0100%	4h	0.09853	+0.071%	$3.1M	$4.0M	75x
MEXC XPL_USDTlong	+0.0100%	4h	0.09846	long leg	$13.0M	$7.7M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09855	+0.091%	$2.5M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09883	+0.376%	$8.8M	$11.2M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09860	+0.142%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09915	+0.699%	$1.8M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09920	+0.752%	$266K	$835K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09920	+0.752%	$26K	$89K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09885	+0.400%	$132K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09880	+0.345%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09860	+0.142%	$203	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09882	+0.366%	$143K	$243K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09857	+0.108%	$669K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09878	+0.329%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09941	+0.965%	$201K	$655K	10x	as long as short
Hyperliquid XPL	+0.0208%	1h	0.09892	+0.468%	$64.2M	$47.1M	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09892	+0.467%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09980	+1.361%	$74K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5018%	1h	0.09914	+0.688%	$573K	$1.0M	10x	as long as short