Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: HTX against Gate−0.375%7-day average −0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$135as in the Price arb table

costs, in and out, $10k−$1011.006% of the position

Long on Gate Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.325%+$33 on $10k

Price spread, last 3 days (all we have)+0.154%+$15 · spread now −0.375%, 7d avg −0.032%

Together, before fees+0.479%+$48 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: HTX is 0.343% cheaper against Gate than usual: you would sell low and buy high, −$34 on $10k if it goes back to its 7-day average of −0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XPL_USDT	0.09878	0.0100	pay 0.0050% / 4h	3h 30m	$3.1M	$4.0M	75x
Short	HTX XPL-USDT	0.09841	0.0100	get 0.0050% / 4h	3h 30m	$143K	$243K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.375%Rate

Funding earned: $0
Price spread: −0.375% → −0.032%: −$34.27
Slippage, 4 orders: −$73.57
Fee Gate: 7.5 bp × 2 orders: −$15
Fee HTX: 6 bp × 2 orders: −$12
Net: −$134.83
Costs to cover: 1.006%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; HTX: live order book, 41 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, 2 min ago	3.05 bp	36.3 bp −$36	158.8 bp −$1,588	doesn't fit	doesn't fit
Sell HTX live order book, 41 min ago	0.51 bp	37.8 bp −$38	doesn't fit	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
GMX XPL/USD [WBTC.b-USDC]	L −0.0164% / S +0.0540%	1h	0.09866	−0.119%	$114K	—	100x	as long as short
01 Exchange XPLUSD	−0.0120%	1h	0.09864	−0.142%	$573	$708	5x	as long as short
Backpack XPL_USDC_PERP	−0.0089%	1h	0.09863	−0.152%	$184K	$273K	10x	as long as short
Lighter XPL	−0.0056%	1h	0.09844	−0.344%	$4.5M	$4.2M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0054%	1h	0.09859	−0.192%	$47K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09862	−0.167%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−23.361%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09867	−0.115%	$77K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0029%	4h	0.09857	−0.213%	$30K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0046%	8h	0.09860	−0.181%	$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	0.09860	−0.177%	$1.5M	$2.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09863	−0.149%	$255K	$534K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09867	−0.107%	$225K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09873	−0.047%	$45.1M	$108.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09876	−0.020%	$47.9M	$55.7M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09874	−0.040%	$8.7M	$56.0M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09765	−1.142%	$142K	$2K	10x	as long as short
Gate XPL_USDTlong	+0.0100%	4h	0.09878	long leg	$3.1M	$4.0M	75x
MEXC XPL_USDT	+0.0100%	4h	0.09871	−0.071%	$13.0M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09861	−0.172%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09881	+0.030%	$8.8M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09872	−0.061%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09857	−0.213%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09827	−0.513%	$260K	$840K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09840	−0.385%	$25K	$89K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09876	−0.020%	$132K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09850	−0.283%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09850	−0.283%	$195	$10K	10x	as long as short
HTX XPL-USDTshort	+0.0100%	4h	0.09841	−0.375%	$143K	$243K	20x
Extended XPL-USD	+0.0104%	1h	0.09870	−0.082%	$669K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09854	−0.239%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09844	−0.344%	$199K	$655K	10x	as long as short
Hyperliquid XPL	+0.0262%	1h	0.09873	−0.054%	$63.9M	$47.3M	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09863	−0.152%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09864	−0.142%	$73K	$96K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5025%	1h	0.09900	+0.218%	$572K	$1.0M	10x	as long as short