Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0335%/8h= +36.6% APRpaid last 24h +0.100%

Price spread now: BloFin against gTrade (Gains Network)+0.080%50s7-day average — · you sell dearer than you buy

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

Long on gTrade (Gains Network)Short on BloFin

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

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and BloFin is 0.080% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$8 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) XPL/USD	0.09600	L +0.0005% / S −0.0004%	pay 0.0001% / 1h	49m 49s	$72K	—	150x
Short	BloFin XPL-USDT	0.09608	0.0340	get 0.0170% / 4h	2h 49m	$1.7M	$949K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.080%Rate

Funding earned: $70.25
Price spread: +0.080% → 0.000%: $8.02
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $56.27
Costs to cover: 0.220%
Break-even: 1.4 days

Slippage unknown: gTrade (Gains Network): no order-book sample; BloFin: 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell BloFin live order book, 3 min ago	0.52 bp	13.5 bp −$14	25.4 bp −$254	74.0 bp −$7,397	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
Deribit XPL_USDC-PERPETUAL	−0.0271%	1h	0.09591	−0.097%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09600	−0.006%	$106K	—	100x	as long as short
01 Exchange XPLUSD	−0.0176%	1h	0.09604	+0.039%	$558	$708	5x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09617	+0.175%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.140%	—	—	—	as long as short
gTrade (Gains Network) XPL/USDlong	L +0.0005% / S −0.0004%	1h	0.09600	long leg	$72K	—	150x
Orderly PERP_XPL_USDC	+0.0015%	4h	0.09590	−0.107%	$29K	$329K	10x	as long as short
Lighter XPL	+0.0016%	1h	0.09580	−0.211%	$4.3M	$3.0M	10x	as long as short
Paradex XPL-USD-PERP	+0.0061%	8h	0.09605	+0.047%	$12K	$696	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09602	+0.012%	$1.2M	$2.4M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid XPL	+0.0100%	1h	0.09596	−0.040%	$60.6M	$46.8M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09585	−0.164%	$248K	$425K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09615	+0.153%	$220K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09579	−0.222%	$43.5M	$100.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09580	−0.211%	$45.4M	$54.3M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09582	−0.191%	$8.1M	$48.5M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09592	−0.091%	$140K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09585	−0.159%	$3.1M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09581	−0.201%	$12.5M	$6.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09584	−0.170%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09590	−0.107%	$9.1M	$9.8M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09580	−0.211%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09591	−0.097%	$174K	$190K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09610	+0.099%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09595	−0.051%	$258K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09600	−0.003%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09612	+0.120%	$128K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09590	−0.107%	$2K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09590	−0.107%	$201	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09596	−0.045%	$140K	$184K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09579	−0.223%	$636K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09589	−0.115%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09593	−0.076%	$194K	$536K	10x	as long as short
BloFin XPL-USDTshort	+0.0340%	4h	0.09608	+0.080%	$1.7M	$949K	75x
Coinbase International XPL-PERP-INTX	+0.0592%	1h	0.09640	+0.414%	$67K	$91K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2890%	1h	0.09621	+0.214%	$547K	$988K	10x	as long as short