Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0436%/8h= −47.7% APRpaid last 24h −0.051%

Price spread now: 01 Exchange against Gate−0.272%7-day average — · you buy dearer than you sell

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

Long on Gate Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and 01 Exchange is 0.272% cheaper against Gate than usual: you would sell low and buy high (−$27 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XPL_USDT	0.09570	0.0100	pay 0.0050% / 4h	41m 13s	$3.0M	$3.6M	75x
Short	01 Exchange XPLUSD	0.09544	−0.0336	pay 0.0042% / 1h	41m 13s	$555	$708	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.272%Rate

Funding earned: −$91.56
Price spread: −0.272% → 0.000%: −$27.17
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$140.73
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 2 min ago; 01 Exchange: 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, 2 min ago	3.14 bp	22.5 bp −$23	154.9 bp −$1,549	doesn't fit	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: 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 XPLUSDshort	−0.0336%	1h	0.09544	−0.272%	$555	$708	5x
GMX XPL/USD [WBTC.b-USDC]	L −0.0296% / S +0.0606%	1h	0.09557	−0.132%	$105K	—	100x	as long as short
Bybit XPLUSDT	−0.0093%	4h	0.09562	−0.084%	$45.2M	$55.1M	75x	as long as short
Backpack XPL_USDC_PERP	−0.0005%	1h	0.09570	0.000%	$178K	$225K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09558	−0.129%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.892%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09562	−0.084%	$46K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09558	−0.131%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0007%	4h	0.09558	−0.125%	$29K	$339K	10x	as long as short
Paradex XPL-USD-PERP	+0.0075%	8h	0.09555	−0.156%	$12K	$2K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPL	+0.0096%	1h	0.09558	−0.125%	$4.3M	$3.3M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09552	−0.188%	$1.2M	$2.7M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09585	+0.154%	$60.0M	$47.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09557	−0.131%	$240K	$485K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09559	−0.114%	$218K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09566	−0.042%	$43.4M	$103.2M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09568	−0.021%	$8.3M	$49.4M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09530	−0.418%	$139K	$5K	10x	as long as short
Gate XPL_USDTlong	+0.0100%	4h	0.09570	long leg	$3.0M	$3.6M	75x
MEXC XPL_USDT	+0.0100%	4h	0.09566	−0.042%	$12.3M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09558	−0.125%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09574	+0.042%	$8.5M	$10.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09567	−0.031%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09536	−0.358%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09530	−0.418%	$253K	$955K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09520	−0.522%	$25K	$79K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09565	−0.056%	$127K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09550	−0.209%	$2K	$1.8M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09560	−0.104%	$194	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09520	−0.522%	$139K	$220K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09557	−0.136%	$646K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09560	−0.104%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0334%	1h	0.09570	0.000%	$194K	$617K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09555	−0.157%	$1.7M	$981K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0616%	1h	0.09583	+0.136%	$74K	$86K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3324%	1h	0.09598	+0.292%	$544K	$975K	10x	as long as short