Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0073%/8h= +8.0% APRpaid last 24h −0.025%

Price spread now: gTrade (Gains Network) against OKX+0.078%73s7-day average — · you sell dearer than you buy

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

Long on OKX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and gTrade (Gains Network) is 0.078% dearer against OKX than usual: you sell high and buy low: +$8 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 73 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	OKX XPL-USDT-SWAP	0.09641	−0.0069	get 0.0035% / 4h	3h 10m	$7.7M	$48.1M	50x
Short	gTrade (Gains Network) XPL/USD	0.09648	L +0.0005% / S −0.0004%	get 0.0000% / 1h	10m 09s	$73K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against OKX. 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 OKXbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.078%Rate

Funding earned: $15.38
Price spread: +0.078% → 0.000%: $7.76
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: $3.14
Costs to cover: 0.200%
Break-even: 5.6 days

Slippage unknown: OKX: live order book, 4 min ago; gTrade (Gains Network): no order-book sample. 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 OKX live order book, 4 min ago	0.52 bp	12.8 bp −$13	37.4 bp −$374	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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
Lighter XPL	−0.1096%	1h	0.09633	−0.083%	$4.4M	$3.2M	10x	as long as short
Bybit XPLUSDT	−0.0442%	4h	0.09644	+0.031%	$45.7M	$54.1M	75x	as long as short
01 Exchange XPLUSD	−0.0432%	1h	0.09640	−0.010%	$560	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0311% / S +0.0615%	1h	0.09652	+0.110%	$107K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0164%	1h	0.09646	+0.052%	$46K	$16K	25x	as long as short
Paradex XPL-USD-PERP	−0.0122%	8h	0.09645	+0.043%	$13K	$696	5x	as long as short
OKX XPL-USDT-SWAPlong	−0.0069%	4h	0.09641	long leg	$7.7M	$48.1M	50x
Orderly PERP_XPL_USDC	−0.0034%	4h	0.09642	+0.010%	$30K	$232K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09651	+0.102%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.475%	—	—	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) XPL/USDshort	L +0.0005% / S −0.0004%	1h	0.09648	+0.078%	$73K	—	150x
Extended XPL-USD	+0.0008%	1h	0.09642	+0.007%	$610K	$1.2M	25x	as long as short
Gate XPL_USDT	+0.0074%	4h	0.09644	+0.031%	$3.0M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0086%	4h	0.09645	+0.041%	$13.3M	$6.6M	100x	as long as short
Binance XPLUSDT	+0.0087%	4h	0.09645	+0.042%	$44.1M	$98.3M	75x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09642	+0.005%	$1.3M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09661	+0.211%	$61.1M	$45.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09652	+0.118%	$255K	$398K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09651	+0.108%	$221K	$47K	10x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09640	−0.010%	$2.3M	$1.3M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09651	+0.104%	$9.2M	$10.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09642	+0.010%	—	$7.7M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09650	+0.093%	$183K	$173K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09647	+0.061%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09608	−0.344%	$257K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09630	−0.114%	$25K	$73K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09652	+0.114%	$126K	$1.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09630	−0.114%	$2K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09640	−0.010%	$190	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09642	+0.010%	$134K	$214K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09570	−0.736%	$139K	$0	10x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09640	−0.010%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09627	−0.145%	$195K	$494K	10x	as long as short
BloFin XPL-USDT	+0.0327%	4h	0.09634	−0.073%	$1.7M	$946K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0536%	1h	0.09670	+0.301%	$65K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2682%	1h	0.09671	+0.313%	$550K	$968K	10x	as long as short