Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0095%/8h= +10.4% APRpaid last 24h +0.028%

Price spread now: OKX against gTrade (Gains Network)−0.085%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 OKX

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. OKX is 0.085% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.085% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 3.0 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	0.09548	L +0.0005% / S −0.0004%	pay 0.0001% / 1h	39m 21s	$72K	—	150x
Short	OKX XPL-USDT-SWAP	0.09540	0.0100	get 0.0050% / 4h	39m 21s	$8.3M	$49.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.085%Rate

Funding earned: $19.85
Price spread: −0.085% → 0.000%: −$8.49
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$8.64
Costs to cover: 0.200%
Break-even: 10.0 days

Slippage unknown: gTrade (Gains Network): no order-book sample; OKX: live order book, 4 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 OKX live order book, 4 min ago	0.52 bp	10.0 bp −$10	36.2 bp −$362	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
01 Exchange XPLUSD	−0.0344%	1h	0.09528	−0.211%	$554	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0298% / S +0.0607%	1h	0.09549	+0.011%	$105K	—	100x	as long as short
Bybit XPLUSDT	−0.0092%	4h	0.09536	−0.127%	$45.1M	$55.1M	75x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09547	−0.009%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.710%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09565	+0.177%	$46K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USDlong	L +0.0005% / S −0.0004%	1h	0.09548	long leg	$72K	—	150x
Orderly PERP_XPL_USDC	+0.0009%	4h	0.09538	−0.106%	$29K	$339K	10x	as long as short
Backpack XPL_USDC_PERP	+0.0039%	1h	0.09564	+0.166%	$178K	$225K	10x	as long as short
Paradex XPL-USD-PERP	+0.0076%	8h	0.09533	−0.155%	$12K	$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	+0.0096%	1h	0.09543	−0.054%	$4.3M	$3.3M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09544	−0.048%	$1.2M	$2.7M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09553	+0.052%	$59.8M	$46.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09539	−0.090%	$240K	$463K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09552	+0.043%	$218K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09543	−0.049%	$43.3M	$103.0M	75x	as long as short
OKX XPL-USDT-SWAPshort	+0.0100%	4h	0.09540	−0.085%	$8.3M	$49.1M	50x
Bulk XPL-USD	+0.0100%	1h	0.09530	−0.190%	$139K	$5K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09542	−0.064%	$3.0M	$3.6M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09545	−0.033%	$12.3M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09550	+0.020%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09551	+0.030%	$8.5M	$10.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09542	−0.064%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09545	−0.035%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09574	+0.268%	$256K	$962K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09570	+0.229%	$25K	$79K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09553	+0.052%	$127K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09550	+0.020%	$2K	$1.8M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09560	+0.125%	$191	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09579	+0.324%	$140K	$217K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09532	−0.173%	$646K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09562	+0.144%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0334%	1h	0.09570	+0.229%	$194K	$617K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09555	+0.072%	$1.7M	$981K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0616%	1h	0.09583	+0.365%	$74K	$86K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3327%	1h	0.09588	+0.421%	$543K	$975K	10x	as long as short