Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h +0.027%

Price spread now: Gate against dYdX−0.029%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 6 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 −$1 a day on $10k at the current rate, and Gate is 0.029% cheaper against dYdX than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX XPL-USD	0.09678	0	get 0.0000% / 1h	49m 41s	$9K	$585	5x
Short	Gate XPL_USDT	0.09675	−0.0032	pay 0.0016% / 4h	3h 49m	$3.0M	$3.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against dYdX. 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 dYdXbpFee GatebpOrdersPrice spread, now −0.029%Rate

Funding earned: −$6.72
Price spread: −0.029% → 0.000%: −$2.95
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$34.67
Costs to cover: 0.250%
Break-even: never at this rate

Slippage unknown: dYdX: no order-book sample; Gate: live order book, 3 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 dYdX no order-book sample	—	—	—	—	—
Sell Gate live order book, 3 min ago	3.10 bp	27.4 bp −$27	153.8 bp −$1,538	doesn't fit	doesn't fit

dYdX: 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	−0.0432%	1h	0.09661	−0.174%	$562	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0370%	1h	0.09672	−0.060%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0304% / S +0.0610%	1h	0.09679	+0.011%	$107K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0047%	1h	0.09678	+0.002%	$179K	$198K	10x	as long as short
Gate XPL_USDTshort	−0.0032%	4h	0.09675	−0.029%	$3.0M	$3.4M	75x
dYdX XPL-USDlong	0.0000%	1h	0.09678	long leg	$9K	$585	5x
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.771%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09679	+0.016%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0018%	4h	0.09670	−0.081%	$29K	$339K	10x	as long as short
Paradex XPL-USD-PERP	+0.0055%	8h	0.09669	−0.093%	$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
Lighter XPL	+0.0096%	1h	0.09666	−0.122%	$4.4M	$3.0M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09680	+0.017%	$1.2M	$2.5M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09689	+0.111%	$61.1M	$46.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09684	+0.065%	$252K	$470K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09680	+0.022%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09665	−0.133%	$43.8M	$102.3M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09670	−0.081%	$45.8M	$54.4M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09672	−0.060%	$8.3M	$49.3M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09670	−0.081%	$141K	$5K	10x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09670	−0.081%	$12.5M	$7.0M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09675	−0.029%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09678	+0.002%	$8.8M	$9.8M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09666	−0.122%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09689	+0.113%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09693	+0.155%	$261K	$1.0M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09710	+0.332%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09683	+0.052%	$127K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09660	−0.184%	$3K	$1.8M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09670	−0.081%	$201	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09693	+0.156%	$142K	$203K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09665	−0.134%	$656K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09676	−0.016%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09709	+0.322%	$197K	$573K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09690	+0.125%	$1.8M	$978K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0640%	1h	0.09734	+0.580%	$75K	$82K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3101%	1h	0.09712	+0.350%	$551K	$976K	10x	as long as short