Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0095%/8h= +10.4% APRpaid last 24h +0.028%

Price spread now: BingX against gTrade (Gains Network)−0.066%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on BingX

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

Funding pays, the price is against you. BingX is 0.066% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.066% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 2.3 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) XPL/USD	0.09664	L +0.0005% / S −0.0004%	pay 0.0001% / 1h	24m 11s	$73K	—	150x
Short	BingX XPL-USDT	0.09658	0.0100	get 0.0050% / 4h	3h 24m	—	$7.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BingXbpOrdersPrice spread, now −0.066%Rate

Funding earned: $19.85
Price spread: −0.066% → 0.000%: −$6.61
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$6.76
Costs to cover: 0.200%
Break-even: 9.4 days

Slippage unknown: gTrade (Gains Network): no order-book sample; BingX: live order book, 14 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell BingX live order book, 14 min ago	5.67 bp	14.8 bp −$15	22.1 bp −$221	78.3 bp −$7,832	doesn't fit

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	−0.0368%	1h	0.09657	−0.076%	$561	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0304% / S +0.0610%	1h	0.09662	−0.026%	$107K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0267%	1h	0.09657	−0.076%	$46K	$18K	25x	as long as short
Backpack XPL_USDC_PERP	−0.0102%	1h	0.09663	−0.014%	$176K	$188K	10x	as long as short
Bybit XPLUSDT	−0.0027%	4h	0.09653	−0.118%	$45.8M	$54.1M	75x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09670	+0.060%	$9K	$585	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.663%	—	—	—	as long as short
gTrade (Gains Network) XPL/USDlong	L +0.0005% / S −0.0004%	1h	0.09664	long leg	$73K	—	150x
Orderly PERP_XPL_USDC	+0.0012%	4h	0.09653	−0.118%	$29K	$339K	10x	as long as short
Paradex XPL-USD-PERP	+0.0059%	8h	0.09660	−0.049%	$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	+0.0088%	1h	0.09650	−0.149%	$4.4M	$3.0M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09663	−0.014%	$1.2M	$2.4M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09675	+0.107%	$61.3M	$46.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09665	+0.003%	$252K	$422K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09668	+0.036%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09654	−0.108%	$43.8M	$100.9M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09656	−0.087%	$8.2M	$48.6M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09660	−0.045%	$3.1M	$3.5M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09655	−0.097%	$12.7M	$7.0M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09653	−0.118%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09668	+0.037%	$9.0M	$9.6M	75x	as long as short
BingX XPL-USDTshort	+0.0100%	4h	0.09658	−0.066%	—	$7.8M	—
Variational Omni XPL	+0.0100%	4h	0.09668	+0.034%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09690	+0.264%	$262K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09680	+0.162%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09672	+0.078%	$129K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09640	−0.252%	$2K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09660	−0.045%	$204	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09663	−0.014%	$141K	$187K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09680	+0.162%	$141K	$5K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09653	−0.120%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09653	−0.119%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09705	+0.420%	$196K	$573K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09659	−0.056%	$1.7M	$961K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0640%	1h	0.09685	+0.213%	$75K	$76K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3108%	1h	0.09691	+0.280%	$551K	$990K	10x	as long as short