Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0073%/8h= −8.0% APRpaid last 24h −0.013%

Price spread now: gTrade (Gains Network) against Orderly+0.067%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 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

The price spread pays, funding is against you. gTrade (Gains Network) is 0.067% dearer against Orderly than usual: you sell high and buy low (spread +0.067% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_XPL_USDC	0.09707	0.0077	pay 0.0039% / 4h	1h 34m	$29K	$335K	10x
Short	gTrade (Gains Network) XPL/USD	0.09713	L +0.0005% / S −0.0004%	get 0.0000% / 1h	34m 59s	$72K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Orderly. 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 OrderlybpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.067%Rate

Funding earned: −$15.38
Price spread: +0.067% → 0.000%: $6.69
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$24.69
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; 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 Orderly no order-book sample	—	—	—	—	—
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

Orderly and 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
Backpack XPL_USDC_PERP	−0.0381%	1h	0.09697	−0.103%	$176K	$281K	10x	as long as short
01 Exchange XPLUSD	−0.0216%	1h	0.09699	−0.082%	$564	$708	5x	as long as short
Lighter XPL	−0.0200%	1h	0.09691	−0.165%	$4.4M	$4.1M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0162%	1h	0.09707	0.000%	$47K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0103% / S +0.0501%	1h	0.09713	+0.065%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09700	−0.075%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.011%	—	—	—	as long as short
gTrade (Gains Network) XPL/USDshort	L +0.0005% / S −0.0004%	1h	0.09713	+0.067%	$72K	—	150x
Orderly PERP_XPL_USDClong	+0.0077%	4h	0.09707	long leg	$29K	$335K	10x
Paradex XPL-USD-PERP	+0.0089%	8h	0.09691	−0.163%	$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	0.09705	−0.021%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09703	−0.040%	$62.6M	$47.5M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09706	−0.012%	$251K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09701	−0.063%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09685	−0.226%	$43.6M	$106.3M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09687	−0.206%	$47.1M	$54.1M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09686	−0.216%	$8.9M	$53.3M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09750	+0.441%	$140K	$8K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09688	−0.196%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09703	−0.041%	$12.6M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09704	−0.031%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09692	−0.155%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09686	−0.216%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09701	−0.058%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09702	−0.051%	$261K	$777K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09750	+0.443%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09720	+0.137%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09690	−0.175%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09700	−0.072%	$446	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09689	−0.185%	$137K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09685	−0.227%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09711	+0.039%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09711	+0.041%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09762	+0.567%	$198K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09760	+0.546%	$72K	$104K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4606%	1h	0.09747	+0.410%	$510K	$956K	10x	as long as short