Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0095%/8h= +10.4% APRpaid last 24h +0.028%

Price spread now: KuCoin against gTrade (Gains Network)−0.031%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 KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 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. KuCoin is 0.031% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.031% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 27 hours 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	0.09317	L +0.0005% / S −0.0004%	pay 0.0001% / 1h	44m 30s	$70K	—	150x
Short	KuCoin XPLUSDTM	0.09314	0.0100	get 0.0050% / 4h	44m 30s	$2.2M	$1.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.031%Rate

Funding earned: $19.85
Price spread: −0.031% → 0.000%: −$3.13
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$5.28
Costs to cover: 0.220%
Break-even: 8.9 days

Slippage unknown: gTrade (Gains Network): no order-book sample; KuCoin: live order book, 5 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 KuCoin live order book, 5 min ago	9.15 bp	33.9 bp −$34	163.4 bp −$1,634	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 exchanges

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	−0.0568%	1h	0.09305	−0.128%	$541	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0519% / S +0.0736%	1h	0.09318	+0.012%	$103K	—	100x	as long as short
Lighter XPL	−0.0408%	1h	0.09310	−0.074%	$4.2M	$2.5M	10x	as long as short
Bybit XPLUSDT	−0.0356%	4h	0.09308	−0.096%	$43.5M	$52.0M	75x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0286%	1h	0.09315	−0.021%	$47K	$19K	25x	as long as short
Polymarket Perps XPL-USD	−0.0219%	1h	0.09311	−0.067%	$36K	$1.1M	10x	as long as short
Orderly PERP_XPL_USDC	−0.0148%	4h	0.09310	−0.074%	$29K	$89K	10x	as long as short
Paradex XPL-USD-PERP	−0.0102%	8h	0.09311	−0.060%	$12K	$696	5x	as long as short
Binance XPLUSDT	−0.0069%	4h	0.09307	−0.104%	$42.8M	$92.9M	75x	as long as short
MEXC XPL_USDT	−0.0066%	4h	0.09318	+0.012%	$12.2M	$6.5M	100x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX XPL-USDT-SWAP	−0.0008%	4h	0.09310	−0.074%	$7.1M	$44.8M	50x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09330	+0.137%	$9K	$1K	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−18.744%	—	—	—	as long as short
gTrade (Gains Network) XPL/USDlong	L +0.0005% / S −0.0004%	1h	0.09317	long leg	$70K	—	150x
Gate XPL_USDT	+0.0018%	4h	0.09317	+0.001%	$2.8M	$2.7M	75x	as long as short
Nado XPL-PERP	+0.0028%	1h	0.09309	−0.090%	$1.1M	$2.3M	10x	as long as short
Extended XPL-USD	+0.0064%	1h	0.09313	−0.043%	$589K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0064%	1h	0.09317	−0.002%	$28K	$18K	3x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09324	+0.080%	$58.7M	$40.3M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09315	−0.021%	$242K	$356K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09328	+0.115%	$208K	$50K	10x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09310	−0.075%	$136K	$5K	10x	as long as short
KuCoin XPLUSDTMshort	+0.0100%	4h	0.09314	−0.031%	$2.2M	$1.3M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09319	+0.022%	$8.7M	$9.5M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09314	−0.031%	—	$7.7M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09319	+0.022%	$180K	$168K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09304	−0.137%	$1.8M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09330	+0.140%	$249K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09310	−0.074%	$24K	$63K	50x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09300	−0.182%	$3K	$1.4M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09310	−0.074%	$178	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09347	+0.323%	$131K	$166K	20x	as long as short
Phoenix XPL	+0.0170%	1h	0.09317	+0.001%	$188K	$435K	10x	as long as short
BloFin XPL-USDT	+0.0172%	4h	0.09307	−0.106%	$1.7M	$796K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0608%	1h	0.09455	+1.482%	$63K	$86K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.1203%	1h	0.09340	+0.247%	$551K	$988K	10x	as long as short