Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h 0.000%

Price spread now: Extended against Gate+0.074%7-day average −0.063% · you sell dearer than you buy

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$650.651% of the position

Long on Gate Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.124%+$12 on $10k

Price spread, last 4 days (all we have)−0.437%−$44 · spread now +0.074%, 7d avg −0.063%

Together, before fees−0.313%+ Points / potential airdropExtended: Active · farm board−$31 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: Extended is 0.137% dearer against Gate than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of −0.063%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XPL_USDT	0.09911	0.0100	pay 0.0050% / 4h	3h 09m	$3.1M	$4.0M	75x
Short	Extended XPL-USD	0.09918	0.0104	get 0.0013% / 1h	9m 57s	$673K	$1.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.074%Rate

Funding earned: $0.84
Price spread: +0.074% → −0.063%: $13.66
Slippage, 4 orders: −$45.15
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$50.65
Costs to cover: 0.651%
Break-even: 429.1 days

Slippage from Gate: live order book, 3 min ago; Extended: live order book, 3 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, 3 min ago	3.53 bp	24.4 bp −$24	179.2 bp −$1,792	doesn't fit	doesn't fit
Sell Extended live order book, 3 min ago	3.53 bp	7.0 bp −$7	17.0 bp −$170	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
01 Exchange XPLUSD	−0.0200%	1h	0.09929	+0.182%	$577	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0174% / S +0.0547%	1h	0.09927	+0.161%	$114K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0153%	1h	0.09913	+0.020%	$48K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09923	+0.120%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−23.614%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09928	+0.170%	$77K	—	150x	as long as short
Lighter XPL	+0.0016%	1h	0.09894	−0.172%	$4.5M	$4.2M	10x	as long as short
Orderly PERP_XPL_USDC	+0.0019%	4h	0.09912	+0.010%	$30K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0046%	8h	0.09933	+0.225%	$13K	$2K	5x	as long as short
OKX XPL-USDT-SWAP	+0.0083%	4h	0.09915	+0.040%	$8.8M	$56.2M	50x	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	0.09920	+0.091%	$1.5M	$2.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09919	+0.077%	$256K	$539K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09932	+0.213%	$226K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09920	+0.095%	$45.4M	$108.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09920	+0.091%	$48.2M	$56.0M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09870	−0.414%	$144K	$2K	10x	as long as short
Gate XPL_USDTlong	+0.0100%	4h	0.09911	long leg	$3.1M	$4.0M	75x
MEXC XPL_USDT	+0.0100%	4h	0.09916	+0.050%	$13.2M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09917	+0.061%	$2.5M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09924	+0.131%	$8.9M	$11.2M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09919	+0.081%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09911	0.000%	$185K	$254K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09896	−0.153%	$1.8M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09903	−0.080%	$263K	$844K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09940	+0.293%	$26K	$89K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09932	+0.209%	$133K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09910	−0.010%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09900	−0.111%	$498	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09913	+0.020%	$143K	$243K	20x	as long as short
Extended XPL-USDshort	+0.0104%	1h	0.09918	+0.074%	$673K	$1.1M	25x
Aevo XPL-PERP	+0.0104%	1h	0.09910	−0.006%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09925	+0.141%	$201K	$655K	10x	as long as short
Hyperliquid XPL	+0.0187%	1h	0.09926	+0.151%	$64.4M	$47.1M	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09898	−0.131%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09980	+0.696%	$74K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4996%	1h	0.09958	+0.470%	$576K	$1.0M	10x	as long as short