Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Polymarket Perps against Bitget+0.015%50s7-day average +0.063% · you sell dearer than you buy

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$440.438% of the position

Long on Bitget Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.032%+$3 on $10k

Price spread, last 3 days (all we have)+0.221%+$22 · spread now +0.015%, 7d avg +0.063%

Together, before fees+0.253%+$25 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: Polymarket Perps is 0.047% cheaper against Bitget than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.063%. The two prices were read 50 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	Bitget XPLUSDT	0.09891	0.0100	pay 0.0050% / 4h	3h 05m	$8.9M	$11.1M	75x
Short	Polymarket Perps XPL-USD	0.09892	0.0100	get 0.0013% / 1h	5m 45s	$132K	$2.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.015%Rate

Funding earned: $0
Price spread: +0.015% → +0.063%: −$4.75
Slippage, 4 orders: −$23.77
Fee Bitget: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$48.52
Costs to cover: 0.438%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; Polymarket Perps: live order book, 3 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 Bitget live order book, 3 min ago	4.04 bp	13.8 bp −$14	31.1 bp −$311	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 3 min ago	3.73 bp	7.7 bp −$8	7.8 bp −$78	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
01 Exchange XPLUSD	−0.0192%	1h	0.09870	−0.212%	$574	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0176% / S +0.0548%	1h	0.09885	−0.064%	$114K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0155%	1h	0.09882	−0.091%	$47K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09897	+0.062%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−23.461%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09886	−0.046%	$59K	—	150x	as long as short
Lighter XPL	+0.0016%	1h	0.09878	−0.131%	$4.5M	$4.2M	10x	as long as short
Orderly PERP_XPL_USDC	+0.0019%	4h	0.09879	−0.121%	$30K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0051%	8h	0.09885	−0.059%	$13K	$2K	5x	as long as short
OKX XPL-USDT-SWAP	+0.0076%	4h	0.09883	−0.081%	$8.8M	$55.9M	50x	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	0.09883	−0.081%	$1.5M	$2.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09897	+0.064%	$261K	$539K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09894	+0.028%	$225K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09886	−0.051%	$45.3M	$108.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09888	−0.030%	$48.2M	$56.1M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09909	+0.182%	$144K	$2K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09884	−0.071%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09885	−0.061%	$13.1M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09891	0.000%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDTlong	+0.0100%	4h	0.09891	long leg	$8.9M	$11.1M	75x
BingX XPL-USDT	+0.0100%	4h	0.09887	−0.040%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09890	−0.010%	$185K	$243K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09881	−0.104%	$1.8M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09910	+0.192%	$263K	$844K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09930	+0.394%	$26K	$89K	50x	as long as short
Polymarket Perps XPL-USDshort	+0.0100%	1h	0.09892	+0.015%	$132K	$2.7M	10x
SunX XPL-USDT	+0.0100%	4h	0.09860	−0.313%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09890	−0.010%	$497	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09901	+0.101%	$143K	$243K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09885	−0.063%	$674K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09880	−0.107%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09934	+0.435%	$201K	$655K	10x	as long as short
Hyperliquid XPL	+0.0179%	1h	0.09903	+0.125%	$64.3M	$47.0M	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09904	+0.131%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09980	+0.900%	$74K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5006%	1h	0.09938	+0.472%	$575K	$1.0M	10x	as long as short