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: SunX against Gate+0.062%53s7-day average −0.177% · you sell dearer than you buy

Net, funding: paid 7d − costs−$345as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$3663.656% of the position

Long on Gate Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.208%+$21 on $10k

Price spread, last 3 days (all we have)−0.419%−$42 · spread now +0.062%, 7d avg −0.177%

Together, before fees−0.211%−$21 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: SunX is 0.239% dearer against Gate than usual: you sell high and buy low, +$24 on $10k if it goes back to its 7-day average of −0.177%. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XPL_USDT	0.09684	0.0100	pay 0.0050% / 4h	1h 26m	$3.0M	$4.0M	75x
Short	SunX XPL-USDT	0.09690	0.0100	get 0.0050% / 4h	1h 26m	$2K	$2.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.062%Rate

Funding earned: $0
Price spread: +0.062% → −0.177%: $23.85
Slippage, 4 orders: −$342.56
Fee Gate: 7.5 bp × 2 orders: −$15
Fee SunX: 4 bp × 2 orders: −$8
Net: −$341.71
Costs to cover: 3.656%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; SunX: live order book, 9 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	4.13 bp	29.4 bp −$29	164.8 bp −$1,648	doesn't fit	doesn't fit
Sell SunX live order book, 9 min ago	36.14 bp	152.1 bp −$152	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
Backpack XPL_USDC_PERP	−0.0363%	1h	0.09700	+0.165%	$176K	$281K	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0265%	1h	0.09708	+0.248%	$47K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0216%	1h	0.09680	−0.041%	$563	$708	5x	as long as short
Lighter XPL	−0.0208%	1h	0.09680	−0.041%	$4.4M	$4.1M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0108% / S +0.0504%	1h	0.09693	+0.089%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09696	+0.128%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−21.826%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09694	+0.099%	$71K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0073%	4h	0.09686	+0.021%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0082%	8h	0.09684	0.000%	$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	0.09685	+0.010%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09702	+0.184%	$62.7M	$47.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09693	+0.097%	$251K	$526K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09695	+0.114%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09688	+0.041%	$43.7M	$106.5M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09688	+0.041%	$47.0M	$54.2M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09686	+0.021%	$8.8M	$53.4M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09688	+0.043%	$141K	$10K	10x	as long as short
Gate XPL_USDTlong	+0.0100%	4h	0.09684	long leg	$3.0M	$4.0M	75x
MEXC XPL_USDT	+0.0100%	4h	0.09685	+0.010%	$12.6M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09684	0.000%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09694	+0.103%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09687	+0.031%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09693	+0.096%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09720	+0.372%	$259K	$787K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09730	+0.475%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09697	+0.130%	$129K	$2.7M	10x	as long as short
SunX XPL-USDTshort	+0.0100%	4h	0.09690	+0.062%	$2K	$2.0M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09700	+0.165%	$446	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09713	+0.299%	$138K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09681	−0.028%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09714	+0.311%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09691	+0.072%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09712	+0.289%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09760	+0.785%	$72K	$104K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4603%	1h	0.09752	+0.704%	$560K	$989K	10x	as long as short