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: SunX against Gate−0.220%7-day average −0.178% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Gate Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.157%+$16 on $10k

Price spread, last 4 days (all we have)−0.101%−$10 · spread now −0.220%, 7d avg −0.178%

Together, before fees+0.056%+$6 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: SunX is 0.043% cheaper against Gate than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.178%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XPL_USDT	0.09531	0.0100	pay 0.0050% / 4h	2h 31m	$3.0M	$3.4M	75x
Short	SunX XPL-USDT	0.09510	0.0100	get 0.0050% / 4h	2h 31m	$3K	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.220%Rate

Funding earned: $0
Price spread: −0.220% → −0.178%: −$4.27
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee SunX: 4 bp × 2 orders: −$8
Net: −$27.27
Costs to cover: 0.230%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 2 min ago; SunX: live order book, 4 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 Gate live order book, 2 min ago	3.67 bp	24.5 bp −$25	154.2 bp −$1,542	doesn't fit	doesn't fit
Sell SunX live order book, 4 min ago	274.95 bp	388.5 bp −$389	doesn't fit	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
Deribit XPL_USDC-PERPETUAL	−0.0274%	1h	0.09531	0.000%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09535	+0.039%	$105K	—	100x	as long as short
01 Exchange XPLUSD	−0.0224%	1h	0.09529	−0.021%	$554	$708	5x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09539	+0.085%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.566%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09535	+0.045%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0015%	4h	0.09528	−0.031%	$29K	$320K	10x	as long as short
Lighter XPL	+0.0024%	1h	0.09527	−0.042%	$4.3M	$3.0M	10x	as long as short
Paradex XPL-USD-PERP	+0.0066%	8h	0.09534	+0.027%	$12K	$696	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09532	+0.016%	$1.2M	$2.4M	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	0.09545	+0.149%	$60.4M	$46.5M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09541	+0.100%	$251K	$429K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09537	+0.067%	$218K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09530	−0.010%	$43.2M	$100.2M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09528	−0.031%	$45.2M	$54.2M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09531	0.000%	$8.1M	$48.1M	50x	as long as short
Gate XPL_USDTlong	+0.0100%	4h	0.09531	long leg	$3.0M	$3.4M	75x
MEXC XPL_USDT	+0.0100%	4h	0.09532	+0.010%	$12.3M	$6.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09527	−0.042%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09541	+0.105%	$9.1M	$9.8M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09529	−0.021%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09547	+0.168%	$173K	$190K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09579	+0.504%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09546	+0.153%	$262K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09540	+0.094%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09541	+0.100%	$125K	$2.0M	10x	as long as short
SunX XPL-USDTshort	+0.0100%	4h	0.09510	−0.220%	$3K	$1.7M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09530	−0.010%	$201	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09555	+0.252%	$139K	$186K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09540	+0.094%	$139K	$0	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09526	−0.047%	$601K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09536	+0.048%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09544	+0.136%	$193K	$536K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09536	+0.052%	$1.7M	$941K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0592%	1h	0.09581	+0.525%	$67K	$89K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2906%	1h	0.09566	+0.369%	$544K	$989K	10x	as long as short