Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0540%/8h= +59.1% APRpaid last 24h +0.206%

Price spread now: Coinbase International against Gate+0.282%7-day average — · you sell dearer than you buy

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

Long on Gate Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.171%+$17 on $10k

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 +$16 a day on $10k at the current rate, and Coinbase International is 0.282% dearer against Gate than usual: you sell high and buy low: +$28 more if the spread goes back to zero (this spread has no 7-day history yet).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.171% in total (about 8.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XPL_USDT	0.09569	0.0100	pay 0.0050% / 4h	2h 59m	$3.1M	$3.4M	75x
Short	Coinbase International XPL-PERP-INTX	0.09596	0.0640	get 0.0080% / 1h	59m 33s	$73K	$76K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.282%Rate

Funding earned: $113.4
Price spread: +0.282% → 0.000%: $28.22
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $116.62
Costs to cover: 0.250%
Break-even: from the start

Slippage unknown: Gate: live order book, 4 min ago; Coinbase International: no order-book sample. 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 Gate live order book, 4 min ago	2.09 bp	28.1 bp −$28	158.3 bp −$1,583	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: 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	−0.0264%	1h	0.09560	−0.094%	$556	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09560	−0.089%	$106K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0081%	1h	0.09558	−0.115%	$174K	$190K	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0064%	1h	0.09562	−0.073%	$46K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09571	+0.019%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.882%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09560	−0.091%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0009%	4h	0.09556	−0.136%	$29K	$330K	10x	as long as short
Lighter XPL	+0.0016%	1h	0.09557	−0.125%	$4.3M	$3.0M	10x	as long as short
Paradex XPL-USD-PERP	+0.0053%	8h	0.09567	−0.026%	$12K	$696	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit XPLUSDT	+0.0080%	4h	0.09559	−0.105%	$45.2M	$54.2M	75x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09554	−0.157%	$1.2M	$2.4M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09571	+0.017%	$249K	$426K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09566	−0.029%	$219K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09562	−0.071%	$43.4M	$100.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09560	−0.094%	$8.1M	$48.3M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09601	+0.330%	$140K	$5K	10x	as long as short
Gate XPL_USDTlong	+0.0100%	4h	0.09569	long leg	$3.1M	$3.4M	75x
MEXC XPL_USDT	+0.0100%	4h	0.09561	−0.084%	$12.5M	$6.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09557	−0.125%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09573	+0.042%	$9.1M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09567	−0.021%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09553	−0.169%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09556	−0.135%	$254K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09570	+0.010%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09566	−0.027%	$127K	$1.9M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09540	−0.303%	$3K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09560	−0.094%	$195	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09611	+0.439%	$141K	$184K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09565	−0.043%	$650K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09548	−0.217%	$28K	$18K	3x	as long as short
Hyperliquid XPL	+0.0128%	1h	0.09567	−0.026%	$60.4M	$46.7M	10x	as long as short
Phoenix XPL	+0.0248%	1h	0.09584	+0.157%	$194K	$573K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09563	−0.063%	$1.7M	$945K	75x	as long as short
Coinbase International XPL-PERP-INTXshort	+0.0640%	1h	0.09596	+0.282%	$73K	$76K	50x
Kraken Futures PF_XPLUSD	+0.3144%	1h	0.09580	+0.112%	$545K	$988K	10x	as long as short