Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: BingX against Gate+0.072%7-day average −0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$800.798% of the position

Long on Gate Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.152%+$15 on $10k

Price spread, last 7 days−0.076%−$8 · spread now +0.072%, 7d avg −0.023%

Together, before fees+0.076%+$8 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: BingX is 0.095% dearer against Gate than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XPL_USDT	0.09689	0.0100	pay 0.0050% / 4h	3h 53m	$3.0M	$3.4M	75x
Short	BingX XPL-USDT	0.09696	0.0100	get 0.0050% / 4h	3h 53m	—	$7.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Gate. 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 GatebpFee BingXbpOrdersPrice spread, now +0.072%Rate

Funding earned: $0
Price spread: +0.072% → −0.023%: $9.51
Slippage, 4 orders: −$54.84
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BingX: 5 bp × 2 orders: −$10
Net: −$70.33
Costs to cover: 0.798%
Break-even: never at this rate

Slippage from Gate: live order book, 5 min ago; BingX: live order book, 10 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 Gate live order book, 5 min ago	2.58 bp	24.7 bp −$25	135.4 bp −$1,354	doesn't fit	doesn't fit
Sell BingX live order book, 10 min ago	5.70 bp	15.6 bp −$16	26.5 bp −$265	83.9 bp −$8,393	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	−0.0464%	1h	0.09676	−0.134%	$563	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0304% / S +0.0610%	1h	0.09695	+0.064%	$107K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0156%	1h	0.09706	+0.175%	$179K	$199K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09683	−0.059%	$9K	$585	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.861%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09701	+0.124%	$46K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09695	+0.067%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0017%	4h	0.09694	+0.052%	$29K	$339K	10x	as long as short
Paradex XPL-USD-PERP	+0.0056%	8h	0.09681	−0.085%	$13K	$2K	5x	as long as short
Lighter XPL	+0.0096%	1h	0.09695	+0.062%	$4.4M	$3.0M	10x	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	0.09687	−0.021%	$1.2M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09706	+0.179%	$61.2M	$46.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09696	+0.068%	$252K	$469K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09687	−0.026%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09699	+0.103%	$44.0M	$102.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09697	+0.083%	$45.9M	$54.6M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09696	+0.072%	$8.3M	$49.6M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09670	−0.196%	$141K	$5K	10x	as long as short
Gate XPL_USDTlong	+0.0100%	4h	0.09689	long leg	$3.0M	$3.4M	75x
MEXC XPL_USDT	+0.0100%	4h	0.09698	+0.093%	$12.6M	$7.0M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09689	0.000%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09708	+0.196%	$8.8M	$10.0M	75x	as long as short
BingX XPL-USDTshort	+0.0100%	4h	0.09696	+0.072%	—	$7.9M	—
Variational Omni XPL	+0.0100%	4h	0.09661	−0.291%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09665	−0.248%	$260K	$1.0M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09690	+0.010%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09700	+0.118%	$127K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09670	−0.196%	$3K	$1.8M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09700	+0.114%	$203	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09677	−0.124%	$142K	$206K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09695	+0.060%	$656K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09705	+0.160%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09681	−0.083%	$196K	$573K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09691	+0.021%	$1.8M	$989K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0640%	1h	0.09734	+0.464%	$75K	$85K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3094%	1h	0.09736	+0.485%	$552K	$974K	10x	as long as short