Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0064%/8h= +7.0% APRpaid last 24h −0.029%

Price spread now: gTrade (Gains Network) against Binance+0.070%92s7-day average — · you sell dearer than you buy

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

Long on Binance 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 0.070% dearer against Binance than usual: you sell high and buy low: +$7 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 92 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	Binance XPLUSDT	0.09392	−0.0060	get 0.0030% / 4h	1h 06m	$43.1M	$98.7M	75x
Short	gTrade (Gains Network) XPL/USD	0.09399	L +0.0005% / S −0.0004%	get 0.0000% / 1h	6m 58s	$71K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Binance. 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 BinancebpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.070%Rate

Funding earned: $13.34
Price spread: +0.070% → 0.000%: $7.01
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: $0.35
Costs to cover: 0.200%
Break-even: 6.8 days

Slippage unknown: Binance: live order book, 14 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 Binance live order book, 14 min ago	0.53 bp	8.8 bp −$9	23.4 bp −$234	120.4 bp −$12.0K	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 exchanges

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
01 Exchange XPLUSD	−0.0768%	1h	0.09380	−0.128%	$545	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0480% / S +0.0713%	1h	0.09396	+0.040%	$104K	—	100x	as long as short
Bybit XPLUSDT	−0.0356%	4h	0.09391	−0.011%	$44.0M	$54.9M	75x	as long as short
Lighter XPL	−0.0320%	1h	0.09383	−0.096%	$4.3M	$3.1M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0282%	1h	0.09391	−0.011%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	−0.0131%	4h	0.09386	−0.064%	$30K	$110K	10x	as long as short
Paradex XPL-USD-PERP	−0.0090%	8h	0.09387	−0.049%	$12K	$696	5x	as long as short
Binance XPLUSDTlong	−0.0060%	4h	0.09392	long leg	$43.1M	$98.7M	75x
MEXC XPL_USDT	−0.0058%	4h	0.09390	−0.021%	$12.7M	$6.7M	100x	as long as short
OKX XPL-USDT-SWAP	−0.0010%	4h	0.09392	0.000%	$7.1M	$48.1M	50x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−19.395%	—	—	—	as long as short
gTrade (Gains Network) XPL/USDshort	L +0.0005% / S −0.0004%	1h	0.09399	+0.070%	$71K	—	150x
Backpack XPL_USDC_PERP	+0.0020%	1h	0.09394	+0.021%	$184K	$173K	10x	as long as short
Extended XPL-USD	+0.0048%	1h	0.09386	−0.059%	$592K	$1.1M	25x	as long as short
Gate XPL_USDT	+0.0058%	4h	0.09392	0.000%	$2.8M	$3.3M	75x	as long as short
Aevo XPL-PERP	+0.0064%	1h	0.09386	−0.067%	$28K	$18K	3x	as long as short
dYdX XPL-USD	+0.0074%	1h	0.09414	+0.234%	$9K	$1K	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09389	−0.029%	$1.2M	$2.3M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09405	+0.144%	$59.0M	$42.9M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09393	+0.006%	$242K	$380K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09398	+0.066%	$209K	$52K	10x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09390	−0.021%	$137K	$5K	10x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09386	−0.064%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09399	+0.075%	$8.8M	$10.2M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09392	0.000%	—	$7.7M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09387	−0.052%	$1.8M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09402	+0.105%	$251K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09440	+0.511%	$25K	$67K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09391	−0.011%	$37K	$1.3M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09380	−0.128%	$3K	$1.5M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09390	−0.021%	$178	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09400	+0.085%	$132K	$218K	20x	as long as short
BloFin XPL-USDT	+0.0180%	4h	0.09391	−0.011%	$1.7M	$859K	75x	as long as short
Phoenix XPL	+0.0252%	1h	0.09407	+0.160%	$190K	$435K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0712%	1h	0.09455	+0.671%	$63K	$86K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.1358%	1h	0.09418	+0.276%	$554K	$1.0M	10x	as long as short