Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against Gate−0.010%7-day average −0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$710.714% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.102%+$10 on $10k

Price spread, last 7 days+0.008%+$1 · spread now −0.010%, 7d avg −0.034%

Together, before fees+0.110%+$11 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: Bybit is 0.024% dearer against Gate than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XPL_USDT	0.09790	0.0100	pay 0.0050% / 4h	3h 57m	$3.1M	$4.0M	75x
Short	Bybit XPLUSDT	0.09789	0.0100	get 0.0050% / 4h	3h 57m	$47.5M	$55.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.010%Rate

Funding earned: $0
Price spread: −0.010% → −0.034%: $2.41
Slippage, 4 orders: −$45.45
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$69.04
Costs to cover: 0.714%
Break-even: never at this rate

Slippage from Gate: live order book, 6 min ago; Bybit: live order book, 1 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, 6 min ago	1.53 bp	21.8 bp −$22	149.1 bp −$1,491	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	0.51 bp	11.9 bp −$12	37.4 bp −$374	doesn't fit	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
Lighter XPL	−0.0440%	1h	0.09781	−0.092%	$4.4M	$4.2M	10x	as long as short
01 Exchange XPLUSD	−0.0168%	1h	0.09792	+0.020%	$569	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0151% / S +0.0532%	1h	0.09795	+0.053%	$113K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09791	+0.006%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.673%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09792	+0.020%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09798	+0.078%	$76K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0024%	8h	0.09798	+0.087%	$13K	$2K	5x	as long as short
Orderly PERP_XPL_USDC	+0.0035%	4h	0.09789	−0.010%	$29K	$335K	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09796	+0.056%	$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	0.09802	+0.122%	$63.2M	$48.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09790	+0.003%	$254K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09791	+0.010%	$223K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09789	−0.015%	$44.7M	$108.9M	75x	as long as short
Bybit XPLUSDTshort	+0.0100%	4h	0.09789	−0.010%	$47.5M	$55.8M	75x
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09793	+0.031%	$8.7M	$55.3M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09796	+0.056%	$143K	$4K	10x	as long as short
Gate XPL_USDTlong	+0.0100%	4h	0.09790	long leg	$3.1M	$4.0M	75x
MEXC XPL_USDT	+0.0100%	4h	0.09790	0.000%	$12.9M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09792	+0.020%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09799	+0.092%	$8.8M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09796	+0.061%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09793	+0.031%	$181K	$282K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09787	−0.029%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09788	−0.015%	$259K	$814K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09800	+0.102%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09800	+0.099%	$131K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09770	−0.204%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09790	0.000%	$199	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09797	+0.072%	$142K	$242K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09792	+0.017%	$658K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09794	+0.038%	$38K	$5K	3x	as long as short
Phoenix XPL	+0.0327%	1h	0.09812	+0.225%	$199K	$650K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09795	+0.051%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09815	+0.255%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5055%	1h	0.09842	+0.531%	$569K	$1.0M	10x	as long as short