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% APRpaid last 24h −0.002%

Price spread now: Gate against Pacifica+0.053%7-day average −0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$131as in the Funding arb table

Net, price: spread back to 7d avg − costs−$107as in the Price arb table

costs, in and out, $10k−$1141.137% of the position

Long on Pacifica Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.176%−$18 on $10k

Price spread, last 4 days (all we have)+0.563%+$56 · spread now +0.053%, 7d avg −0.016%

Together, before fees+0.387%+ Points / potential airdropPacifica: Active · farm board+$39 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: Gate is 0.069% dearer against Pacifica than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica XPL	0.09509	0.0100	pay 0.0013% / 1h	48m 41s	$217K	$46K	10x
Short	Gate XPL_USDT	0.09514	0.0100	get 0.0050% / 4h	48m 41s	$3.0M	$3.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Pacifica. 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 PacificabpFee GatebpOrdersPrice spread, now +0.053%Rate

Funding earned: $0
Price spread: +0.053% → −0.016%: $6.89
Slippage, 4 orders: −$90.69
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$106.8
Costs to cover: 1.137%
Break-even: never at this rate

Slippage from Pacifica: live order book, 9 min ago; Gate: live order book, 4 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 Pacifica live order book, 9 min ago	15.70 bp	23.0 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	3.67 bp	25.2 bp −$25	126.2 bp −$1,262	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
01 Exchange XPLUSD	−0.0320%	1h	0.09510	+0.011%	$553	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0289% / S +0.0602%	1h	0.09512	+0.032%	$105K	—	100x	as long as short
Bybit XPLUSDT	−0.0116%	4h	0.09502	−0.074%	$45.0M	$55.6M	75x	as long as short
Backpack XPL_USDC_PERP	−0.0109%	1h	0.09503	−0.063%	$176K	$226K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09511	+0.019%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.383%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09498	−0.116%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	+0.0004%	4h	0.09495	−0.147%	$29K	$335K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09512	+0.036%	$72K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0072%	8h	0.09514	+0.056%	$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	0.09498	−0.116%	$4.3M	$3.3M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09519	+0.105%	$1.2M	$2.7M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09521	+0.131%	$59.6M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09514	+0.052%	$241K	$486K	20x	as long as short
Pacifica XPLlong	+0.0100%	1h	0.09509	long leg	$217K	$46K	10x
Binance XPLUSDT	+0.0100%	4h	0.09504	−0.053%	$43.1M	$104.7M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09515	+0.063%	$8.2M	$49.5M	50x	as long as short
Gate XPL_USDTshort	+0.0100%	4h	0.09514	+0.053%	$3.0M	$3.6M	75x
MEXC XPL_USDT	+0.0100%	4h	0.09510	+0.011%	$12.3M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09505	−0.042%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09518	+0.095%	$8.5M	$10.3M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09517	+0.084%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09518	+0.093%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09541	+0.333%	$254K	$955K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09530	+0.221%	$25K	$79K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09521	+0.123%	$126K	$2.1M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09490	−0.200%	$2K	$1.8M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09500	−0.095%	$190	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09534	+0.263%	$143K	$236K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09565	+0.589%	$139K	$5K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09512	+0.031%	$643K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09495	−0.147%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0334%	1h	0.09540	+0.326%	$193K	$617K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09501	−0.084%	$1.7M	$984K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0616%	1h	0.09606	+1.020%	$74K	$86K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3345%	1h	0.09537	+0.295%	$541K	$977K	10x	as long as short