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 −0.002%

Price spread now: Gate against Bulk+0.527%7-day average −0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$690.690% of the position

Long on Bulk Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.014%−$1 on $10k

Price spread, last 4 days (all we have)−0.222%−$22 · spread now +0.527%, 7d avg −0.006%

Together, before fees−0.237%−$24 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 0.532% dearer against Bulk than usual: you sell high and buy low, +$53 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk XPL-USD	0.09870	0.0100	pay 0.0013% / 1h	9m 35s	$144K	$2K	10x
Short	Gate XPL_USDT	0.09922	0.0100	get 0.0050% / 4h	3h 09m	$3.1M	$4.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Bulk. 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 BulkbpFee GatebpOrdersPrice spread, now +0.527%Rate

Funding earned: $0
Price spread: +0.527% → −0.006%: $53.25
Slippage, 4 orders: −$47.04
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$15.79
Costs to cover: 0.690%
Break-even: never at this rate

Slippage from Bulk: live order book, 64 min ago; Gate: live order book, 4 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 Bulk live order book, 64 min ago	5.15 bp	8.7 bp −$9	14.8 bp −$148	45.9 bp −$4,591	doesn't fit
Sell Gate live order book, 4 min ago	3.53 bp	25.8 bp −$26	157.3 bp −$1,573	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	−0.0200%	1h	0.09923	+0.537%	$577	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0174% / S +0.0547%	1h	0.09927	+0.578%	$114K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0153%	1h	0.09913	+0.436%	$48K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09922	+0.526%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−23.297%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09928	+0.586%	$77K	—	150x	as long as short
Lighter XPL	+0.0016%	1h	0.09912	+0.426%	$4.5M	$4.2M	10x	as long as short
Orderly PERP_XPL_USDC	+0.0019%	4h	0.09912	+0.426%	$30K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0047%	8h	0.09923	+0.539%	$13K	$2K	5x	as long as short
OKX XPL-USDT-SWAP	+0.0083%	4h	0.09918	+0.486%	$8.8M	$56.1M	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	0.09920	+0.507%	$1.5M	$2.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09927	+0.575%	$257K	$539K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09926	+0.566%	$226K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09922	+0.532%	$45.4M	$108.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09921	+0.517%	$48.3M	$56.1M	75x	as long as short
Bulk XPL-USDlong	+0.0100%	1h	0.09870	long leg	$144K	$2K	10x
Gate XPL_USDTshort	+0.0100%	4h	0.09922	+0.527%	$3.1M	$4.0M	75x
MEXC XPL_USDT	+0.0100%	4h	0.09921	+0.517%	$13.2M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09925	+0.557%	$2.5M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09931	+0.618%	$8.9M	$11.2M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09926	+0.567%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09911	+0.415%	$185K	$254K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09896	+0.262%	$1.8M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09903	+0.335%	$263K	$844K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09910	+0.405%	$26K	$89K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09932	+0.625%	$133K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09910	+0.405%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09900	+0.304%	$498	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09913	+0.436%	$143K	$243K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09923	+0.539%	$673K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09910	+0.409%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09925	+0.557%	$201K	$655K	10x	as long as short
Hyperliquid XPL	+0.0188%	1h	0.09937	+0.682%	$64.5M	$47.0M	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09898	+0.284%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09980	+1.114%	$74K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4996%	1h	0.09958	+0.887%	$576K	$1.0M	10x	as long as short