Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0097%/8h= −10.6% APRpaid last 24h −0.029%

Price spread now: gTrade (Gains Network) against SunX+0.275%7-day average — · you sell dearer than you buy

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

Long on SunX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 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

The price spread pays, funding is against you. gTrade (Gains Network) is 0.275% dearer against SunX than usual: you sell high and buy low (spread +0.275% now, against zero (this spread has no 7-day history yet)): +$27 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 9.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XPL-USDT	0.09830	0.0100	pay 0.0050% / 4h	3h 30m	$3K	$2.0M	20x
Short	gTrade (Gains Network) XPL/USD	0.09857	L +0.0005% / S −0.0003%	get 0.0000% / 1h	30m 10s	$77K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against SunX. 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 SunXbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.275%Rate

Funding earned: −$20.28
Price spread: +0.275% → 0.000%: $27.49
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$10.8
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: SunX: live order book, 6 min ago; gTrade (Gains Network): 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 SunX live order book, 6 min ago	35.62 bp	158.2 bp −$158	doesn't fit	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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
Deribit XPL_USDC-PERPETUAL	−0.0562%	1h	0.09842	+0.122%	$47K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0164% / S +0.0541%	1h	0.09856	+0.266%	$114K	—	100x	as long as short
01 Exchange XPLUSD	−0.0120%	1h	0.09869	+0.397%	$574	$708	5x	as long as short
Backpack XPL_USDC_PERP	−0.0067%	1h	0.09845	+0.153%	$184K	$273K	10x	as long as short
Lighter XPL	−0.0040%	1h	0.09837	+0.071%	$4.4M	$4.2M	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09881	+0.516%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.986%	—	—	—	as long as short
gTrade (Gains Network) XPL/USDshort	L +0.0005% / S −0.0003%	1h	0.09857	+0.275%	$77K	—	150x
Orderly PERP_XPL_USDC	+0.0028%	4h	0.09845	+0.153%	$30K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0046%	8h	0.09875	+0.457%	$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	0.09861	+0.320%	$1.5M	$2.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09871	+0.413%	$255K	$534K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09875	+0.460%	$225K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09844	+0.142%	$45.0M	$108.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09846	+0.163%	$47.8M	$55.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09843	+0.132%	$8.7M	$55.7M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09765	−0.659%	$142K	$2K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09846	+0.163%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09846	+0.163%	$13.0M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09852	+0.224%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09851	+0.214%	$8.8M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09843	+0.132%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09857	+0.274%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09827	−0.027%	$260K	$840K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09840	+0.102%	$25K	$89K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09878	+0.485%	$132K	$2.7M	10x	as long as short
SunX XPL-USDTlong	+0.0100%	4h	0.09830	long leg	$3K	$2.0M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09840	+0.102%	$202	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09841	+0.112%	$143K	$243K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09838	+0.086%	$669K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09846	+0.164%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09844	+0.142%	$199K	$655K	10x	as long as short
Hyperliquid XPL	+0.0252%	1h	0.09863	+0.331%	$63.9M	$47.3M	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09863	+0.336%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09864	+0.346%	$73K	$96K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5031%	1h	0.09889	+0.599%	$572K	$1.0M	10x	as long as short