Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against SunX+0.082%7-day average +0.178% · you sell dearer than you buy

Net, funding: paid 7d − costs−$380as in the Funding arb table

Net, price: spread back to 7d avg − costs−$369as in the Price arb table

costs, in and out, $10k−$3593.593% of the position

Long on SunX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.208%−$21 on $10k

Price spread, last 3 days (all we have)+0.267%+$27 · spread now +0.082%, 7d avg +0.178%

Together, before fees+0.060%+$6 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 0.097% cheaper against SunX than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.178%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XPL-USDT	0.09780	0.0100	pay 0.0050% / 4h	2h 40m	$2K	$2.0M	20x
Short	Gate XPL_USDT	0.09788	0.0100	get 0.0050% / 4h	2h 40m	$3.0M	$4.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against SunX. 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 SunXbpFee GatebpOrdersPrice spread, now +0.082%Rate

Funding earned: $0
Price spread: +0.082% → +0.178%: −$9.66
Slippage, 4 orders: −$336.35
Fee SunX: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$369.01
Costs to cover: 3.593%
Break-even: never at this rate

Slippage from SunX: live order book, 5 min ago; Gate: live order book, 2 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 SunX live order book, 5 min ago	35.81 bp	160.5 bp −$160	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	5.11 bp	27.3 bp −$27	153.3 bp −$1,533	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	−0.0465%	1h	0.09789	+0.092%	$47K	$18K	25x	as long as short
Lighter XPL	−0.0160%	1h	0.09776	−0.041%	$4.4M	$4.3M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0071% / S +0.0480%	1h	0.09802	+0.229%	$113K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09811	+0.314%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.592%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09803	+0.236%	$72K	—	150x	as long as short
Backpack XPL_USDC_PERP	+0.0019%	1h	0.09792	+0.123%	$178K	$282K	10x	as long as short
01 Exchange XPLUSD	+0.0040%	1h	0.09802	+0.225%	$570	$582	5x	as long as short
Orderly PERP_XPL_USDC	+0.0082%	4h	0.09794	+0.143%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0095%	8h	0.09813	+0.338%	$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	0.09802	+0.228%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09802	+0.228%	$63.0M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09793	+0.136%	$253K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09813	+0.333%	$222K	$19K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09788	+0.083%	$44.2M	$104.2M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09791	+0.112%	$47.8M	$53.1M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09786	+0.061%	$9.1M	$53.2M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09822	+0.434%	$142K	$11K	10x	as long as short
Gate XPL_USDTshort	+0.0100%	4h	0.09788	+0.082%	$3.0M	$4.0M	75x
MEXC XPL_USDT	+0.0100%	4h	0.09789	+0.092%	$12.8M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09796	+0.164%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09794	+0.143%	$8.6M	$11.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09788	+0.082%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09793	+0.133%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09770	−0.101%	$256K	$777K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09790	+0.102%	$25K	$86K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09811	+0.316%	$130K	$2.7M	10x	as long as short
SunX XPL-USDTlong	+0.0100%	4h	0.09780	long leg	$2K	$2.0M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09780	0.000%	$203	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09791	+0.112%	$139K	$245K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09789	+0.088%	$660K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09793	+0.131%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09780	0.000%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09810	+0.307%	$200K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09844	+0.654%	$74K	$105K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3473%	1h	0.09845	+0.666%	$518K	$939K	10x	as long as short