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 +0.003%

Price spread now: MEXC against Gate+0.021%7-day average −0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$570.572% of the position

Long on Gate Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.147%+$15 on $10k

Price spread, last 7 days−0.051%−$5 · spread now +0.021%, 7d avg −0.017%

Together, before fees+0.096%+$10 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: MEXC is 0.038% dearer against Gate than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XPL_USDT	0.09693	0.0100	pay 0.0050% / 4h	2h 44m	$3.0M	$3.8M	75x
Short	MEXC XPL_USDT	0.09695	0.0100	get 0.0050% / 4h	2h 44m	$12.9M	$7.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.021%Rate

Funding earned: $0
Price spread: +0.021% → −0.017%: $3.77
Slippage, 4 orders: −$42.17
Fee Gate: 7.5 bp × 2 orders: −$15
Fee MEXC: 0 bp × 2 orders: $0
Net: −$53.41
Costs to cover: 0.572%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; MEXC: live order book, 9 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	3.60 bp	18.6 bp −$19	148.4 bp −$1,484	doesn't fit	doesn't fit
Sell MEXC live order book, 9 min ago	0.52 bp	4.7 bp −$5	48.9 bp −$489	109.2 bp −$10.9K	245.3 bp −$122.6K

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	−0.0232%	1h	0.09690	−0.031%	$563	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0188% / S +0.0555%	1h	0.09698	+0.055%	$111K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0133%	1h	0.09676	−0.175%	$181K	$242K	10x	as long as short
Lighter XPL	−0.0056%	1h	0.09665	−0.289%	$4.4M	$4.2M	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09677	−0.164%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.895%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09704	+0.113%	$78K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0007%	4h	0.09708	+0.155%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0056%	8h	0.09682	−0.114%	$13K	$2K	5x	as long as short
OKX XPL-USDT-SWAP	+0.0057%	4h	0.09712	+0.196%	$8.4M	$56.1M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit XPL_USDC-PERPETUAL	+0.0059%	1h	0.09716	+0.237%	$47K	$18K	25x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09692	−0.013%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09709	+0.161%	$62.8M	$47.9M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09683	−0.103%	$246K	$550K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09683	−0.103%	$220K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09703	+0.106%	$44.2M	$110.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09710	+0.175%	$46.8M	$58.2M	75x	as long as short
Gate XPL_USDTlong	+0.0100%	4h	0.09693	long leg	$3.0M	$3.8M	75x
MEXC XPL_USDTshort	+0.0100%	4h	0.09695	+0.021%	$12.9M	$7.9M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09689	−0.041%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09721	+0.289%	$8.6M	$11.5M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09709	+0.165%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09678	−0.155%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09719	+0.266%	$265K	$858K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09720	+0.279%	$25K	$90K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09702	+0.095%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09670	−0.237%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09720	+0.279%	$203	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09708	+0.155%	$142K	$255K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09710	+0.179%	$141K	$7K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09713	+0.207%	$655K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09715	+0.223%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0328%	1h	0.09693	0.000%	$196K	$657K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09706	+0.134%	$1.8M	$1.1M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0496%	1h	0.09746	+0.547%	$80K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4389%	1h	0.09745	+0.539%	$552K	$1.0M	10x	as long as short