Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0136%/8h= +14.9% APRpaid last 24h +0.004%

Price spread now: Extended against Gate−0.033%7-day average −0.068% · you buy dearer than you sell

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$650.646% of the position

Long on Gate Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.121%+$12 on $10k

Price spread, last 7 days−0.031%−$3 · spread now −0.033%, 7d avg −0.068%

Together, before fees+0.090%+ Points / potential airdropExtended: Active · farm board+$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Extended is 0.035% dearer against Gate than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.068%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XPL_USDT	0.09668	−0.0032	get 0.0016% / 4h	3h 49m	$3.0M	$3.4M	75x
Short	Extended XPL-USD	0.09665	0.0104	get 0.0013% / 1h	49m 24s	$656K	$1.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.033%Rate

Funding earned: $28.56
Price spread: −0.033% → −0.068%: $3.53
Slippage, 4 orders: −$44.56
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$32.48
Costs to cover: 0.646%
Break-even: 15.0 days

Slippage from Gate: live order book, 4 min ago; Extended: live order book, 4 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, 4 min ago	3.10 bp	23.5 bp −$24	132.6 bp −$1,326	doesn't fit	doesn't fit
Sell Extended live order book, 4 min ago	0.52 bp	6.2 bp −$6	18.7 bp −$187	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
01 Exchange XPLUSD	−0.0432%	1h	0.09661	−0.072%	$562	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0370%	1h	0.09672	+0.041%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0304% / S +0.0610%	1h	0.09674	+0.061%	$107K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0047%	1h	0.09678	+0.103%	$179K	$198K	10x	as long as short
Gate XPL_USDTlong	−0.0032%	4h	0.09668	long leg	$3.0M	$3.4M	75x
dYdX XPL-USD	0.0000%	1h	0.09678	+0.102%	$9K	$585	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.691%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09673	+0.057%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0018%	4h	0.09668	0.000%	$29K	$339K	10x	as long as short
Paradex XPL-USD-PERP	+0.0055%	8h	0.09669	+0.008%	$13K	$2K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit XPLUSDT	+0.0058%	4h	0.09667	−0.010%	$45.8M	$54.4M	75x	as long as short
Lighter XPL	+0.0096%	1h	0.09666	−0.021%	$4.4M	$3.0M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09672	+0.041%	$1.2M	$2.5M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09683	+0.154%	$61.1M	$46.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09684	+0.160%	$252K	$470K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09680	+0.124%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09667	−0.010%	$43.9M	$102.3M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09669	+0.010%	$8.3M	$49.3M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09670	+0.020%	$141K	$5K	10x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09665	−0.031%	$12.5M	$7.0M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09675	+0.072%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09677	+0.093%	$8.8M	$9.8M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09666	−0.021%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09689	+0.215%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09693	+0.257%	$261K	$1.0M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09710	+0.434%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09677	+0.088%	$127K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09660	−0.083%	$3K	$1.8M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09670	+0.021%	$201	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09693	+0.259%	$142K	$203K	20x	as long as short
Extended XPL-USDshort	+0.0104%	1h	0.09665	−0.033%	$656K	$1.1M	25x
Aevo XPL-PERP	+0.0104%	1h	0.09676	+0.086%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09709	+0.424%	$197K	$573K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09690	+0.228%	$1.8M	$978K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0640%	1h	0.09734	+0.683%	$75K	$82K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3101%	1h	0.09712	+0.452%	$551K	$976K	10x	as long as short