Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.003%

Price spread now: Polymarket Perps against Gate+0.129%7-day average +0.079% · you sell dearer than you buy

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$620.615% of the position

Long on Gate Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.112%+$11 on $10k

Price spread, last 7 days−0.226%−$23 · spread now +0.129%, 7d avg +0.079%

Together, before fees−0.114%−$11 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: Polymarket Perps is 0.050% dearer against Gate than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.079%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XPL_USDT	0.09577	0.0100	pay 0.0050% / 4h	1h 33m	$3.0M	$3.4M	75x
Short	Polymarket Perps XPL-USD	0.09589	0.0100	get 0.0013% / 1h	33m 11s	$125K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.129%Rate

Funding earned: $0
Price spread: +0.129% → +0.079%: $5.04
Slippage, 4 orders: −$38.51
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$56.48
Costs to cover: 0.615%
Break-even: never at this rate

Slippage from Gate: live order book, 5 min ago; Polymarket Perps: 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	2.61 bp	28.6 bp −$29	143.9 bp −$1,439	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 5 min ago	2.97 bp	9.4 bp −$9	9.5 bp −$95	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	−0.1144%	1h	0.09562	−0.157%	$4.3M	$3.2M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0376%	1h	0.09577	0.000%	$46K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0368%	1h	0.09574	−0.031%	$557	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09564	−0.131%	$106K	—	100x	as long as short
Orderly PERP_XPL_USDC	−0.0002%	4h	0.09575	−0.021%	$30K	$266K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09579	+0.025%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.950%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09578	+0.007%	$72K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0055%	8h	0.09579	+0.019%	$12K	$696	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09577	0.000%	$1.2M	$2.2M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid XPL	+0.0100%	1h	0.09585	+0.082%	$60.5M	$46.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09584	+0.073%	$253K	$415K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09580	+0.031%	$219K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09574	−0.028%	$43.3M	$97.2M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09569	−0.084%	$45.6M	$53.2M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09572	−0.052%	$7.9M	$47.7M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09595	+0.188%	$140K	$0	10x	as long as short
Gate XPL_USDTlong	+0.0100%	4h	0.09577	long leg	$3.0M	$3.4M	75x
MEXC XPL_USDT	+0.0100%	4h	0.09574	−0.031%	$12.5M	$6.8M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09570	−0.073%	$2.3M	$1.3M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09579	+0.021%	$8.8M	$9.6M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09573	−0.042%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09579	+0.021%	$177K	$188K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09540	−0.388%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09580	+0.031%	$256K	$1.2M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09590	+0.136%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USDshort	+0.0100%	1h	0.09589	+0.129%	$125K	$1.8M	10x
SunX XPL-USDT	+0.0100%	4h	0.09560	−0.178%	$3K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09580	+0.031%	$198	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09556	−0.219%	$132K	$214K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09577	−0.003%	$602K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09576	−0.008%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09577	0.000%	$194K	$506K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09571	−0.063%	$1.7M	$933K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.09718	+1.472%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2851%	1h	0.09604	+0.285%	$544K	$933K	10x	as long as short