Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.004%

Price spread now: Gate against Nado+0.117%7-day average −0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$610.607% of the position

Long on Nado Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.014%−$1 on $10k

Price spread, last 3 days (all we have)−0.276%−$28 · spread now +0.117%, 7d avg −0.001%

Together, before fees−0.290%+ Points / potential airdropNado: Active · farm board−$29 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: Gate is 0.118% dearer against Nado than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado XPL-PERP	0.09831	0.0100	pay 0.0012% / 1h	33m 31s	$1.5M	$2.6M	10x
Short	Gate XPL_USDT	0.09843	0.0100	get 0.0050% / 4h	3h 33m	$3.1M	$4.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Nado. 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 NadobpFee GatebpOrdersPrice spread, now +0.117%Rate

Funding earned: $0
Price spread: +0.117% → −0.001%: $11.77
Slippage, 4 orders: −$38.69
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$48.92
Costs to cover: 0.607%
Break-even: 5025837072813764.0 days

Slippage from Nado: live order book, 5 min ago; Gate: live order book, 5 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 Nado live order book, 5 min ago	1.53 bp	8.3 bp −$8	18.1 bp −$181	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	1.02 bp	21.0 bp −$21	136.8 bp −$1,368	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
GMX XPL/USD [WBTC.b-USDC]	L −0.0162% / S +0.0539%	1h	0.09847	+0.160%	$113K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0131%	1h	0.09839	+0.076%	$182K	$272K	10x	as long as short
01 Exchange XPLUSD	−0.0128%	1h	0.09828	−0.036%	$571	$708	5x	as long as short
Lighter XPL	−0.0088%	1h	0.09830	−0.015%	$4.4M	$4.2M	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09839	+0.081%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.998%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09845	+0.137%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09847	+0.157%	$77K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0030%	4h	0.09845	+0.137%	$30K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0044%	8h	0.09842	+0.107%	$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-PERPlong	+0.0100%	1h	0.09831	long leg	$1.5M	$2.6M	10x
Aster XPLUSDT	+0.0100%	4h	0.09844	+0.127%	$254K	$533K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09845	+0.137%	$224K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09833	+0.015%	$44.9M	$108.6M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09829	−0.025%	$47.6M	$55.7M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09829	−0.025%	$8.7M	$55.6M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09765	−0.674%	$142K	$2K	10x	as long as short
Gate XPL_USDTshort	+0.0100%	4h	0.09843	+0.117%	$3.1M	$4.0M	75x
MEXC XPL_USDT	+0.0100%	4h	0.09840	+0.086%	$12.9M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09835	+0.036%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09843	+0.117%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09836	+0.046%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09825	−0.066%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09827	−0.043%	$260K	$840K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09820	−0.117%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09852	+0.203%	$132K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09830	−0.015%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09840	+0.086%	$203	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09834	+0.025%	$142K	$242K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09840	+0.081%	$665K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09840	+0.086%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09823	−0.086%	$199K	$655K	10x	as long as short
Hyperliquid XPL	+0.0213%	1h	0.09859	+0.280%	$63.8M	$47.2M	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09830	−0.015%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09845	+0.137%	$73K	$96K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5027%	1h	0.09896	+0.656%	$573K	$1.0M	10x	as long as short