Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0095%/8h= +10.4% APRpaid last 24h +0.028%

Price spread now: BingX against gTrade (Gains Network)−0.069%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on BingX

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

Funding pays, the price is against you. BingX is 0.069% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.069% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 2.4 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) XPL/USD	0.09572	L +0.0005% / S −0.0004%	pay 0.0001% / 1h	13m 29s	$72K	—	150x
Short	BingX XPL-USDT	0.09565	0.0100	get 0.0050% / 4h	13m 29s	—	$7.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BingXbpOrdersPrice spread, now −0.069%Rate

Funding earned: $19.85
Price spread: −0.069% → 0.000%: −$6.87
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$7.02
Costs to cover: 0.200%
Break-even: 9.5 days

Slippage unknown: gTrade (Gains Network): no order-book sample; BingX: live order book, 5 min ago. 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell BingX live order book, 5 min ago	5.76 bp	17.8 bp −$18	34.3 bp −$343	102.0 bp −$10.2K	doesn't fit

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
Lighter XPL	−0.1424%	1h	0.09550	−0.225%	$4.3M	$3.2M	10x	as long as short
01 Exchange XPLUSD	−0.0480%	1h	0.09568	−0.037%	$556	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09552	−0.207%	$105K	—	100x	as long as short
Paradex XPL-USD-PERP	−0.0034%	8h	0.09572	+0.003%	$12K	$696	5x	as long as short
Orderly PERP_XPL_USDC	−0.0027%	4h	0.09565	−0.069%	$30K	$277K	10x	as long as short
Bybit XPLUSDT	−0.0025%	4h	0.09564	−0.079%	$45.5M	$53.9M	75x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09569	−0.030%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.903%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09569	−0.027%	$46K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USDlong	L +0.0005% / S −0.0004%	1h	0.09572	long leg	$72K	—	150x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX XPL-USDT-SWAP	+0.0052%	4h	0.09563	−0.090%	$7.7M	$47.7M	50x	as long as short
Extended XPL-USD	+0.0096%	1h	0.09565	−0.072%	$595K	$1.2M	25x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09563	−0.090%	$1.3M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09587	+0.163%	$60.5M	$46.0M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09576	+0.041%	$253K	$419K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09571	−0.008%	$219K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09568	−0.033%	$43.3M	$97.7M	75x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09568	−0.037%	$2.9M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09569	−0.027%	$12.5M	$6.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09562	−0.100%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09576	+0.046%	$9.0M	$9.8M	75x	as long as short
BingX XPL-USDTshort	+0.0100%	4h	0.09565	−0.069%	—	$7.8M	—
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09569	−0.027%	$179K	$182K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09545	−0.277%	$1.7M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09560	−0.120%	$254K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09550	−0.225%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09580	+0.084%	$126K	$1.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09540	−0.330%	$2K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09560	−0.121%	$192	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09544	−0.288%	$132K	$212K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09555	−0.173%	$139K	$0	10x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09565	−0.069%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0249%	1h	0.09563	−0.090%	$194K	$495K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09548	−0.246%	$1.7M	$923K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0808%	1h	0.09555	−0.173%	$64K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2734%	1h	0.09594	+0.235%	$541K	$939K	10x	as long as short