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: Bybit against Aster−0.094%7-day average −0.073% · you buy dearer than you sell

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$690.689% of the position

Long on Aster Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.106%−$11 on $10k

Price spread, last 4 days (all we have)−0.022%−$2 · spread now −0.094%, 7d avg −0.073%

Together, before fees−0.128%+ Points / potential airdropAster: Stage 5 · farm board−$13 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: Bybit is 0.021% cheaper against Aster than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.073%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster XPLUSDT	0.09965	0.0100	pay 0.0050% / 4h	3h 30m	$262K	$509K	20x
Short	Bybit XPLUSDT	0.09956	0.0100	get 0.0050% / 4h	3h 30m	$48.3M	$51.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Aster. 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 AsterbpFee BybitbpOrdersPrice spread, now −0.094%Rate

Funding earned: $0
Price spread: −0.094% → −0.073%: −$2.05
Slippage, 4 orders: −$49.88
Fee Aster: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$70.93
Costs to cover: 0.689%
Break-even: never at this rate

Slippage from Aster: live order book, 18 min ago; Bybit: 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 Aster live order book, 18 min ago	5.51 bp	21.5 bp −$22	171.4 bp −$1,714	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	0.50 bp	15.7 bp −$16	45.6 bp −$456	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
dYdX XPL-USD	0.0000%	1h	0.09963	−0.023%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−24.028%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09966	+0.007%	$50K	$17K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09964	−0.013%	$73K	—	150x	as long as short
01 Exchange XPLUSD	+0.0072%	1h	0.09980	+0.147%	$580	$582	5x	as long as short
Backpack XPL_USDC_PERP	+0.0073%	1h	0.09963	−0.023%	$186K	$286K	10x	as long as short
Orderly PERP_XPL_USDC	+0.0076%	4h	0.09962	−0.033%	$28K	$333K	10x	as long as short
Lighter XPL	+0.0096%	1h	0.09957	−0.083%	$4.5M	$4.2M	10x	as long as short
Paradex XPL-USD-PERP	+0.0098%	8h	0.09973	+0.075%	$13K	$2K	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09970	+0.047%	$1.4M	$2.6M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster XPLUSDTlong	+0.0100%	4h	0.09965	long leg	$262K	$509K	20x
Pacifica XPL	+0.0100%	1h	0.09969	+0.038%	$226K	$17K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09962	−0.033%	$45.5M	$102.1M	75x	as long as short
Bybit XPLUSDTshort	+0.0100%	4h	0.09956	−0.094%	$48.3M	$51.3M	75x
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09958	−0.073%	$9.5M	$53.3M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09980	+0.147%	$144K	$11K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09965	−0.003%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09961	−0.043%	$13.7M	$7.5M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09954	−0.114%	$2.5M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09965	−0.003%	$8.7M	$11.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09958	−0.073%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09959	−0.060%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09974	+0.089%	$270K	$720K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09980	+0.147%	$26K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09983	+0.180%	$135K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09960	−0.053%	$3K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09960	−0.053%	$207	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09960	−0.053%	$141K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09959	−0.063%	$720K	$983K	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09965	0.000%	$39K	$5K	3x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L +0.0204% / S +0.0037%	1h	0.09961	−0.047%	$140K	—	100x	as long as short
Phoenix XPL	+0.0318%	1h	0.09985	+0.197%	$204K	$640K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09961	−0.043%	$1.8M	$1.2M	75x	as long as short
Hyperliquid XPL	+0.0593%	1h	0.09974	+0.089%	$66.0M	$44.8M	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.1013	+1.653%	$77K	$108K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3350%	1h	0.1001	+0.405%	$298K	$704K	10x	as long as short