Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.029%

Price spread now: gTrade (Gains Network) against SunX+0.218%7-day average — · you sell dearer than you buy

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

Long on SunX Short on gTrade (Gains Network)

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

The price spread pays, funding is against you. gTrade (Gains Network) is 0.218% dearer against SunX than usual: you sell high and buy low (spread +0.218% now, against zero (this spread has no 7-day history yet)): +$22 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 7.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XPL-USDT	0.09610	0.0100	pay 0.0050% / 4h	16m 05s	$3K	$1.8M	20x
Short	gTrade (Gains Network) XPL/USD	0.09631	L +0.0005% / S −0.0004%	get 0.0000% / 1h	16m 05s	$73K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against SunX. 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 SunXbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.218%Rate

Funding earned: −$20.17
Price spread: +0.218% → 0.000%: $21.84
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$16.32
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: SunX: live order book, 10 min ago; gTrade (Gains Network): 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 SunX live order book, 10 min ago	31.12 bp	148.5 bp −$148	doesn't fit	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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
01 Exchange XPLUSD	−0.0360%	1h	0.09626	+0.166%	$560	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0317% / S +0.0618%	1h	0.09630	+0.209%	$106K	—	100x	as long as short
Bybit XPLUSDT	−0.0087%	4h	0.09618	+0.083%	$45.5M	$54.7M	75x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0061%	1h	0.09630	+0.208%	$46K	$18K	25x	as long as short
Backpack XPL_USDC_PERP	−0.0058%	1h	0.09629	+0.198%	$178K	$223K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09631	+0.215%	$9K	$585	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.219%	—	—	—	as long as short
gTrade (Gains Network) XPL/USDshort	L +0.0005% / S −0.0004%	1h	0.09631	+0.218%	$73K	—	150x
Orderly PERP_XPL_USDC	+0.0015%	4h	0.09625	+0.156%	$29K	$339K	10x	as long as short
Paradex XPL-USD-PERP	+0.0082%	8h	0.09626	+0.161%	$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
Gate XPL_USDT	+0.0094%	4h	0.09628	+0.187%	$3.0M	$3.6M	75x	as long as short
Lighter XPL	+0.0096%	1h	0.09619	+0.094%	$4.4M	$3.3M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09625	+0.161%	$1.2M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09639	+0.302%	$60.8M	$46.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09642	+0.331%	$251K	$469K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09627	+0.182%	$220K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09620	+0.104%	$43.7M	$103.0M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09621	+0.114%	$8.3M	$49.3M	50x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09624	+0.146%	$12.3M	$7.8M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09614	+0.042%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09628	+0.187%	$8.7M	$10.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09621	+0.114%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09622	+0.123%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09600	−0.104%	$266K	$997K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09610	0.000%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09639	+0.306%	$124K	$2.0M	10x	as long as short
SunX XPL-USDTlong	+0.0100%	4h	0.09610	long leg	$3K	$1.8M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09630	+0.208%	$197	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09599	−0.114%	$140K	$206K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09630	+0.208%	$140K	$5K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09625	+0.155%	$653K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09630	+0.208%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0334%	1h	0.09627	+0.177%	$195K	$617K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09620	+0.104%	$1.7M	$984K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0616%	1h	0.09676	+0.687%	$75K	$87K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3300%	1h	0.09665	+0.576%	$548K	$975K	10x	as long as short