Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0095%/8h= +10.4% APRpaid last 24h +0.028%

Price spread now: HTX against gTrade (Gains Network)−0.171%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 HTX

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. HTX is 0.171% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.171% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$17 on $10k: about 6.0 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	0.09594	L +0.0005% / S −0.0004%	pay 0.0001% / 1h	56m 45s	$72K	—	150x
Short	HTX XPL-USDT	0.09578	0.0100	get 0.0050% / 4h	56m 45s	$132K	$212K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.171%Rate

Funding earned: $19.85
Price spread: −0.171% → 0.000%: −$17.09
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$19.24
Costs to cover: 0.220%
Break-even: 13.8 days

Slippage unknown: gTrade (Gains Network): no order-book sample; HTX: live order book, 45 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 HTX live order book, 45 min ago	13.03 bp	74.0 bp −$74	doesn't fit	doesn't fit	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
Lighter XPL	−0.1288%	1h	0.09570	−0.254%	$4.3M	$3.1M	10x	as long as short
01 Exchange XPLUSD	−0.0448%	1h	0.09574	−0.213%	$557	$873	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0375%	1h	0.09590	−0.046%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09595	+0.001%	$106K	—	100x	as long as short
Orderly PERP_XPL_USDC	−0.0011%	4h	0.09587	−0.077%	$30K	$246K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09587	−0.079%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.091%	—	—	—	as long as short
gTrade (Gains Network) XPL/USDlong	L +0.0005% / S −0.0004%	1h	0.09594	long leg	$72K	—	150x
Paradex XPL-USD-PERP	+0.0035%	8h	0.09580	−0.153%	$12K	$696	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09587	−0.077%	$1.2M	$2.2M	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	0.09601	+0.068%	$60.7M	$46.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09590	−0.045%	$253K	$420K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09591	−0.035%	$219K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09581	−0.140%	$43.5M	$97.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09577	−0.181%	$45.7M	$53.5M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09580	−0.150%	$7.8M	$47.7M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09614	+0.205%	$140K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09591	−0.035%	$3.0M	$3.3M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09582	−0.129%	$12.5M	$6.5M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09592	−0.025%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09590	−0.046%	$9.0M	$9.8M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09580	−0.150%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09592	−0.025%	$180K	$187K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09615	+0.213%	$1.7M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09618	+0.248%	$262K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09630	+0.371%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09587	−0.073%	$126K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09560	−0.359%	$3K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09590	−0.046%	$198	$9K	10x	as long as short
HTX XPL-USDTshort	+0.0100%	4h	0.09578	−0.171%	$132K	$212K	20x
Extended XPL-USD	+0.0104%	1h	0.09588	−0.067%	$602K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09590	−0.046%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09595	+0.006%	$194K	$495K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09576	−0.192%	$1.7M	$930K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0808%	1h	0.09718	+1.288%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2725%	1h	0.09628	+0.352%	$547K	$932K	10x	as long as short