Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: SunX against gTrade (Gains Network)−0.229%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 SunX

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. SunX is 0.229% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.229% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$23 on $10k: about 8.1 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	0.09742	L +0.0005% / S −0.0003%	pay 0.0001% / 1h	40m 06s	$77K	—	150x
Short	SunX XPL-USDT	0.09720	0.0100	get 0.0050% / 4h	40m 06s	$3K	$2.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.229%Rate

Funding earned: $19.85
Price spread: −0.229% → 0.000%: −$22.93
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$21.08
Costs to cover: 0.180%
Break-even: 14.4 days

Slippage unknown: gTrade (Gains Network): no order-book sample; SunX: live order book, 6 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 SunX live order book, 6 min ago	35.81 bp	150.0 bp −$150	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
Lighter XPL	−0.0680%	1h	0.09722	−0.209%	$4.4M	$4.1M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0468%	1h	0.09736	−0.065%	$47K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0352%	1h	0.09727	−0.157%	$566	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0130% / S +0.0518%	1h	0.09742	−0.005%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09753	+0.112%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.294%	—	—	—	as long as short
gTrade (Gains Network) XPL/USDlong	L +0.0005% / S −0.0003%	1h	0.09742	long leg	$77K	—	150x
Paradex XPL-USD-PERP	+0.0035%	8h	0.09736	−0.062%	$13K	$2K	5x	as long as short
Orderly PERP_XPL_USDC	+0.0059%	4h	0.09732	−0.106%	$29K	$335K	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09738	−0.039%	$1.4M	$2.6M	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	0.09750	+0.083%	$63.1M	$48.0M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09744	+0.014%	$253K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09751	+0.089%	$222K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09733	−0.096%	$44.2M	$107.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09735	−0.075%	$47.6M	$55.2M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09732	−0.106%	$8.8M	$54.3M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09740	−0.023%	$142K	$9K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09732	−0.106%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09734	−0.086%	$12.7M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09734	−0.086%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09743	+0.007%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09736	−0.065%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09739	−0.034%	$180K	$281K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09752	+0.102%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09772	+0.305%	$262K	$806K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09790	+0.489%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09745	+0.029%	$130K	$2.7M	10x	as long as short
SunX XPL-USDTshort	+0.0100%	4h	0.09720	−0.229%	$3K	$2.0M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09730	−0.127%	$198	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09750	+0.079%	$138K	$241K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09732	−0.108%	$656K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09739	−0.036%	$38K	$5K	3x	as long as short
Phoenix XPL	+0.0327%	1h	0.09768	+0.263%	$198K	$651K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09742	−0.003%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0568%	1h	0.09825	+0.848%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5094%	1h	0.09799	+0.585%	$565K	$1.0M	10x	as long as short