Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.004%

Price spread now: Gate against Extended+0.002%7-day average +0.064% · you sell dearer than you buy

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$660.655% of the position

Long on Extended Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.150%−$15 on $10k

Price spread, last 4 days (all we have)+0.546%+$55 · spread now +0.002%, 7d avg +0.064%

Together, before fees+0.396%+ Points / potential airdropExtended: Active · farm board+$40 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 0.062% cheaper against Extended than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.064%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XPL-USD	0.09689	0.0104	pay 0.0013% / 1h	31m 08s	$657K	$1.1M	25x
Short	Gate XPL_USDT	0.09689	0.0100	get 0.0050% / 4h	1h 31m	$3.0M	$4.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Extended. 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 ExtendedbpFee GatebpOrdersPrice spread, now +0.002%Rate

Funding earned: −$0.84
Price spread: +0.002% → +0.064%: −$6.2
Slippage, 4 orders: −$45.51
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$72.55
Costs to cover: 0.655%
Break-even: never at this rate

Slippage from Extended: live order book, 2 min ago; Gate: live order book, 2 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 Extended live order book, 2 min ago	1.03 bp	5.6 bp −$6	20.2 bp −$202	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	4.11 bp	28.1 bp −$28	151.4 bp −$1,514	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
Backpack XPL_USDC_PERP	−0.0382%	1h	0.09691	+0.022%	$176K	$281K	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0266%	1h	0.09691	+0.022%	$46K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0216%	1h	0.09695	+0.064%	$564	$708	5x	as long as short
Lighter XPL	−0.0208%	1h	0.09680	−0.091%	$4.4M	$4.1M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0105% / S +0.0502%	1h	0.09699	+0.105%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09701	+0.124%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−21.865%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09700	+0.111%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0076%	4h	0.09689	+0.002%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0087%	8h	0.09691	+0.025%	$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	0.09690	+0.012%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09709	+0.203%	$62.8M	$47.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09699	+0.107%	$251K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09700	+0.119%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09689	+0.002%	$43.6M	$106.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09695	+0.064%	$47.1M	$54.1M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09690	+0.012%	$8.8M	$53.4M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09750	+0.629%	$140K	$8K	10x	as long as short
Gate XPL_USDTshort	+0.0100%	4h	0.09689	+0.002%	$3.0M	$4.0M	75x
MEXC XPL_USDT	+0.0100%	4h	0.09689	+0.002%	$12.6M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09697	+0.084%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09699	+0.105%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09690	+0.012%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09701	+0.130%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09687	−0.015%	$260K	$777K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09730	+0.425%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09705	+0.168%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09670	−0.194%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09690	+0.012%	$446	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09708	+0.198%	$138K	$246K	20x	as long as short
Extended XPL-USDlong	+0.0104%	1h	0.09689	long leg	$657K	$1.1M	25x
Aevo XPL-PERP	+0.0104%	1h	0.09697	+0.083%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09692	+0.033%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09723	+0.353%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09760	+0.735%	$72K	$104K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4605%	1h	0.09749	+0.624%	$521K	$963K	10x	as long as short