Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0324%/8h= −35.5% APRpaid last 24h −0.047%

Price spread now: 01 Exchange against Gate−0.175%55s7-day average — · you buy dearer than you sell

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

Long on Gate Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and 01 Exchange is 0.175% cheaper against Gate than usual: you would sell low and buy high (−$17 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XPL_USDT	0.09727	0.0100	pay 0.0050% / 4h	1h 16m	$3.0M	$4.0M	75x
Short	01 Exchange XPLUSD	0.09710	−0.0224	pay 0.0028% / 1h	16m 35s	$565	$708	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.175%Rate

Funding earned: −$68.04
Price spread: −0.175% → 0.000%: −$17.48
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$107.52
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 1 min ago; 01 Exchange: no order-book sample. 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, 1 min ago	3.09 bp	23.5 bp −$23	144.6 bp −$1,446	doesn't fit	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Backpack XPL_USDC_PERP	−0.0310%	1h	0.09721	−0.062%	$177K	$282K	10x	as long as short
Lighter XPL	−0.0240%	1h	0.09709	−0.185%	$4.4M	$4.1M	10x	as long as short
01 Exchange XPLUSDshort	−0.0224%	1h	0.09710	−0.175%	$565	$708	5x
GMX XPL/USD [WBTC.b-USDC]	L −0.0112% / S +0.0507%	1h	0.09714	−0.136%	$112K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0059%	1h	0.09714	−0.134%	$47K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09730	+0.029%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.170%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09716	−0.116%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0071%	4h	0.09710	−0.175%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0083%	8h	0.09716	−0.110%	$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
Nado XPL-PERP	+0.0100%	1h	0.09713	−0.139%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09735	+0.087%	$63.0M	$47.8M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09725	−0.026%	$251K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09730	+0.031%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09726	−0.010%	$43.9M	$106.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09727	0.000%	$47.9M	$54.9M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09726	−0.010%	$8.9M	$53.9M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09725	−0.025%	$142K	$9K	10x	as long as short
Gate XPL_USDTlong	+0.0100%	4h	0.09727	long leg	$3.0M	$4.0M	75x
MEXC XPL_USDT	+0.0100%	4h	0.09724	−0.031%	$12.5M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09730	+0.031%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09733	+0.062%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09727	0.000%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09717	−0.100%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09712	−0.150%	$259K	$787K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09730	+0.031%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09723	−0.041%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09700	−0.278%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09710	−0.175%	$447	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09705	−0.226%	$138K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09725	−0.019%	$656K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09715	−0.123%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09711	−0.164%	$1.7M	$1.1M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09726	−0.010%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09760	+0.339%	$72K	$104K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4596%	1h	0.09768	+0.420%	$561K	$995K	10x	as long as short