Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0095%/8h= +10.4% APRpaid last 24h +0.028%

Price spread now: HTX against gTrade (Gains Network)−0.070%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 HTX

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. HTX is 0.070% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.070% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 2.5 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	0.09588	L +0.0005% / S −0.0004%	pay 0.0001% / 1h	44m 36s	$72K	—	150x
Short	HTX XPL-USDT	0.09581	0.0100	get 0.0050% / 4h	2h 44m	$140K	$184K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.070%Rate

Funding earned: $19.85
Price spread: −0.070% → 0.000%: −$6.98
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$9.13
Costs to cover: 0.220%
Break-even: 10.2 days

Slippage unknown: gTrade (Gains Network): no order-book sample; HTX: live order book, 2 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 HTX live order book, 2 min ago	7.84 bp	61.0 bp −$61	doesn't fit	doesn't fit	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
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09587	−0.007%	$106K	—	100x	as long as short
01 Exchange XPLUSD	−0.0216%	1h	0.09588	+0.003%	$557	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0167%	1h	0.09581	−0.070%	$46K	$18K	25x	as long as short
Lighter XPL	0.0000%	1h	0.09583	−0.049%	$4.3M	$3.0M	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09595	+0.079%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.036%	—	—	—	as long as short
gTrade (Gains Network) XPL/USDlong	L +0.0005% / S −0.0004%	1h	0.09588	long leg	$72K	—	150x
Orderly PERP_XPL_USDC	+0.0015%	4h	0.09576	−0.122%	$29K	$324K	10x	as long as short
Paradex XPL-USD-PERP	+0.0063%	8h	0.09593	+0.057%	$12K	$696	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09590	+0.024%	$1.2M	$2.4M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid XPL	+0.0100%	1h	0.09605	+0.183%	$60.6M	$46.8M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09595	+0.079%	$248K	$430K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09598	+0.103%	$220K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09592	+0.045%	$43.5M	$100.5M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09589	+0.014%	$45.4M	$54.3M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09591	+0.035%	$8.1M	$48.4M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09592	+0.040%	$140K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09591	+0.035%	$3.1M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09590	+0.024%	$12.6M	$6.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09585	−0.028%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09595	+0.076%	$9.1M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09591	+0.035%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09590	+0.024%	$174K	$190K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09566	−0.228%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09570	−0.185%	$257K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09570	−0.185%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09601	+0.141%	$126K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09560	−0.289%	$2K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09580	−0.080%	$203	$12K	10x	as long as short
HTX XPL-USDTshort	+0.0100%	4h	0.09581	−0.070%	$140K	$184K	20x
Extended XPL-USD	+0.0104%	1h	0.09588	+0.005%	$637K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09576	−0.124%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09626	+0.400%	$195K	$536K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09578	−0.101%	$1.7M	$946K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0592%	1h	0.09640	+0.546%	$67K	$91K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2892%	1h	0.09612	+0.251%	$546K	$988K	10x	as long as short