Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.029%

Price spread now: gTrade (Gains Network) against Bitget−0.005%7-day average — · you buy dearer than you sell

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

Long on Bitget 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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget XPLUSDT	0.09630	0.0100	pay 0.0050% / 4h	1h 10m	$8.5M	$11.1M	75x
Short	gTrade (Gains Network) XPL/USD	0.09629	L +0.0005% / S −0.0004%	get 0.0000% / 1h	10m 17s	$73K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Bitget. 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 BitgetbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.005%Rate

Funding earned: −$20.17
Price spread: −0.005% → 0.000%: −$0.53
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$42.7
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 3 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 Bitget live order book, 3 min ago	2.60 bp	11.8 bp −$12	33.2 bp −$332	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
01 Exchange XPLUSD	−0.0392%	1h	0.09630	0.000%	$560	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0269% / S +0.0588%	1h	0.09628	−0.017%	$106K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0268%	1h	0.09646	+0.166%	$179K	$231K	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0165%	1h	0.09626	−0.042%	$46K	$18K	25x	as long as short
Bybit XPLUSDT	−0.0127%	4h	0.09618	−0.125%	$45.5M	$56.7M	75x	as long as short
Orderly PERP_XPL_USDC	−0.0001%	4h	0.09623	−0.073%	$29K	$335K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09635	+0.052%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−21.386%	—	—	—	as long as short
gTrade (Gains Network) XPL/USDshort	L +0.0005% / S −0.0004%	1h	0.09629	−0.005%	$73K	—	150x
OKX XPL-USDT-SWAP	+0.0061%	4h	0.09623	−0.073%	$8.3M	$52.5M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPL-USD-PERP	+0.0062%	8h	0.09640	+0.106%	$13K	$2K	5x	as long as short
Lighter XPL	+0.0096%	1h	0.09634	+0.042%	$4.4M	$4.2M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09627	−0.026%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09643	+0.132%	$60.5M	$48.3M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09645	+0.151%	$245K	$497K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09647	+0.174%	$220K	$48K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09623	−0.074%	$43.6M	$108.2M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09643	+0.139%	$140K	$5K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09626	−0.042%	$3.0M	$3.8M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09634	+0.042%	$12.5M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09618	−0.125%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDTlong	+0.0100%	4h	0.09630	long leg	$8.5M	$11.1M	75x
BingX XPL-USDT	+0.0100%	4h	0.09622	−0.083%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09618	−0.129%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09611	−0.196%	$253K	$930K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09620	−0.104%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09647	+0.172%	$128K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09620	−0.104%	$2K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09620	−0.104%	$2K	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09642	+0.125%	$145K	$263K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09620	−0.099%	$636K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09624	−0.057%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09632	+0.021%	$195K	$629K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09626	−0.042%	$1.7M	$1.0M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0672%	1h	0.09670	+0.415%	$75K	$93K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3556%	1h	0.09667	+0.383%	$548K	$1.0M	10x	as long as short