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: Gate against KuCoin+0.010%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$133as in the Funding arb table

Net, price: spread back to 7d avg − costs−$111as in the Price arb table

costs, in and out, $10k−$1121.118% of the position

Long on KuCoin Short on Gate

What this pair did over the last

the charts below follow

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

Price spread, last 7 days−0.012%−$1 · spread now +0.010%, 7d avg +0.004%

Together, before fees−0.220%−$22 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XPLUSDTM	0.09702	0.0100	pay 0.0050% / 4h	2h 00m	$2.4M	$1.4M	50x
Short	Gate XPL_USDT	0.09703	0.0100	get 0.0050% / 4h	2h 00m	$3.0M	$4.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against KuCoin. 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 KuCoinbpFee GatebpOrdersPrice spread, now +0.010%Rate

Funding earned: $0
Price spread: +0.010% → +0.004%: $0.64
Slippage, 4 orders: −$84.78
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$111.14
Costs to cover: 1.118%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; Gate: 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 KuCoin live order book, 6 min ago	15.52 bp	28.6 bp −$29	137.4 bp −$1,374	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	5.15 bp	24.5 bp −$25	132.0 bp −$1,320	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	−0.0114%	1h	0.09704	+0.021%	$177K	$283K	10x	as long as short
Lighter XPL	−0.0096%	1h	0.09685	−0.175%	$4.4M	$4.3M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0091% / S +0.0493%	1h	0.09708	+0.064%	$112K	—	100x	as long as short
01 Exchange XPLUSD	−0.0072%	1h	0.09700	−0.021%	$564	$708	5x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09701	−0.010%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.969%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09715	+0.134%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09709	+0.071%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0081%	4h	0.09708	+0.062%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0089%	8h	0.09690	−0.125%	$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
Hyperliquid XPL	+0.0100%	1h	0.09720	+0.191%	$62.4M	$47.3M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09704	+0.021%	$251K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09694	−0.080%	$220K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09704	+0.021%	$43.6M	$105.6M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09704	+0.021%	$47.3M	$53.7M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09709	+0.072%	$8.9M	$53.2M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09700	−0.019%	$140K	$10K	10x	as long as short
Gate XPL_USDTshort	+0.0100%	4h	0.09703	+0.010%	$3.0M	$4.0M	75x
MEXC XPL_USDT	+0.0100%	4h	0.09706	+0.041%	$12.7M	$7.7M	100x	as long as short
KuCoin XPLUSDTMlong	+0.0100%	4h	0.09702	long leg	$2.4M	$1.4M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09716	+0.144%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09700	−0.021%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09700	−0.019%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09698	−0.040%	$262K	$775K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09710	+0.082%	$25K	$87K	50x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09696	−0.062%	$1.4M	$2.7M	10x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09718	+0.166%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09690	−0.124%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09700	−0.021%	$206	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09698	−0.041%	$138K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09709	+0.076%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09713	+0.111%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09700	−0.021%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09717	+0.155%	$197K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09731	+0.299%	$73K	$102K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3510%	1h	0.09741	+0.406%	$513K	$948K	10x	as long as short