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: MEXC against gTrade (Gains Network)−0.089%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 MEXC

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. MEXC is 0.089% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.089% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 3.1 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	58m 34s	$72K	—	150x
Short	MEXC XPL_USDT	0.09579	0.0100	get 0.0050% / 4h	58m 34s	$12.5M	$6.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.089%Rate

Funding earned: $19.85
Price spread: −0.089% → 0.000%: −$8.87
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: $0.99
Costs to cover: 0.100%
Break-even: 6.7 days

Slippage unknown: gTrade (Gains Network): no order-book sample; MEXC: 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 MEXC live order book, 5 min ago	1.04 bp	3.2 bp −$3	7.4 bp −$74	78.5 bp −$7,847	226.8 bp −$113.4K

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	−0.1264%	1h	0.09565	−0.235%	$4.3M	$3.1M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0584%	1h	0.09584	−0.037%	$46K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0440%	1h	0.09570	−0.183%	$556	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09588	+0.001%	$106K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0186%	1h	0.09576	−0.120%	$179K	$187K	10x	as long as short
Orderly PERP_XPL_USDC	−0.0010%	4h	0.09581	−0.068%	$30K	$246K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09587	−0.004%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.034%	—	—	—	as long as short
gTrade (Gains Network) XPL/USDlong	L +0.0005% / S −0.0004%	1h	0.09588	long leg	$72K	—	150x
Paradex XPL-USD-PERP	+0.0038%	8h	0.09575	−0.128%	$12K	$696	5x	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	0.09577	−0.110%	$1.2M	$2.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09583	−0.042%	$253K	$420K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09582	−0.052%	$219K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09577	−0.110%	$43.4M	$97.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09573	−0.151%	$45.6M	$53.5M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09574	−0.141%	$7.8M	$47.7M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09614	+0.277%	$140K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09574	−0.141%	$3.0M	$3.3M	75x	as long as short
MEXC XPL_USDTshort	+0.0100%	4h	0.09579	−0.089%	$12.5M	$6.5M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09574	−0.141%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09590	+0.026%	$9.0M	$9.8M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09576	−0.120%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09615	+0.285%	$1.7M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09618	+0.320%	$262K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09630	+0.443%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09590	+0.030%	$126K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09560	−0.287%	$2K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09580	−0.078%	$193	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09616	+0.297%	$133K	$213K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09573	−0.153%	$601K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09585	−0.026%	$28K	$18K	3x	as long as short
Hyperliquid XPL	+0.0151%	1h	0.09595	+0.076%	$60.6M	$46.1M	10x	as long as short
Phoenix XPL	+0.0248%	1h	0.09637	+0.516%	$195K	$489K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09583	−0.047%	$1.7M	$931K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0808%	1h	0.09718	+1.361%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2726%	1h	0.09623	+0.368%	$546K	$932K	10x	as long as short