Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against Gate+0.041%7-day average +0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$860.860% of the position

Long on Gate Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.118%+$12 on $10k

Price spread, last 7 days−0.033%−$3 · spread now +0.041%, 7d avg +0.005%

Together, before fees+0.085%+$9 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.036% dearer against Gate than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XPL_USDT	0.09732	0.0100	pay 0.0050% / 4h	2h 33m	$3.0M	$4.0M	75x
Short	Bitget XPLUSDT	0.09736	0.0100	get 0.0050% / 4h	2h 33m	$8.6M	$11.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Gate. 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 GatebpFee BitgetbpOrdersPrice spread, now +0.041%Rate

Funding earned: $0
Price spread: +0.041% → +0.005%: $3.58
Slippage, 4 orders: −$58.98
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$82.4
Costs to cover: 0.860%
Break-even: never at this rate

Slippage from Gate: live order book, 5 min ago; Bitget: live order book, 5 min ago.

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 Gate live order book, 5 min ago	4.10 bp	25.6 bp −$26	152.8 bp −$1,528	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	3.59 bp	19.9 bp −$20	51.2 bp −$512	doesn't fit	doesn't fit

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	−0.0112%	1h	0.09738	+0.062%	$4.4M	$4.3M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0075% / S +0.0483%	1h	0.09736	+0.046%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09746	+0.140%	$8K	—	5x	as long as short
01 Exchange XPLUSD	0.0000%	1h	0.09749	+0.175%	$567	$582	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.210%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09735	+0.031%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09736	+0.045%	$72K	—	150x	as long as short
Backpack XPL_USDC_PERP	+0.0025%	1h	0.09757	+0.257%	$178K	$283K	10x	as long as short
Orderly PERP_XPL_USDC	+0.0083%	4h	0.09732	0.000%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0095%	8h	0.09753	+0.214%	$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
Nado XPL-PERP	+0.0100%	1h	0.09728	−0.041%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09749	+0.173%	$62.6M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09755	+0.232%	$252K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09754	+0.223%	$221K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09735	+0.031%	$44.0M	$104.5M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09731	−0.010%	$47.5M	$53.3M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09728	−0.041%	$9.0M	$52.9M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09822	+0.930%	$142K	$11K	10x	as long as short
Gate XPL_USDTlong	+0.0100%	4h	0.09732	long leg	$3.0M	$4.0M	75x
MEXC XPL_USDT	+0.0100%	4h	0.09738	+0.062%	$12.7M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09744	+0.123%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDTshort	+0.0100%	4h	0.09736	+0.041%	$8.6M	$11.0M	75x
BingX XPL-USDT	+0.0100%	4h	0.09731	−0.010%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09764	+0.330%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09764	+0.327%	$264K	$786K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09780	+0.493%	$25K	$86K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09746	+0.142%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09730	−0.021%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09730	−0.021%	$202	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09764	+0.329%	$138K	$245K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09729	−0.035%	$658K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09738	+0.059%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09769	+0.380%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09773	+0.421%	$198K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09844	+1.151%	$74K	$105K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3495%	1h	0.09785	+0.546%	$515K	$940K	10x	as long as short