XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0240%/8h= −26.3% APRnext payment −$1.20 per $10,000 · paid last 24h −0.072%

Price spread now: Bybit against BloFin+0.123%7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$101as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$470.469% of the position

Long on BloFin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.539%−$54 on $10k

Price spread, last 3 days (all we have)+0.057%+$6 · spread now +0.123%, 7d avg −0.013%

Together, before fees−0.482%−$48 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.135% dearer against BloFin than usual: you sell high and buy low (spread +0.123% now, against its 7-day average of −0.013%): +$14 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 45 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin XPL-USDT	0.09759	0.0340	pay 0.0170% / 4h	2h 36m	$1.8M	$1.2M	75x
Short	Bybit XPLUSDT	0.09771	0.0100	get 0.0050% / 4h	2h 36m	$47.7M	$53.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against BloFin. 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 BloFinbpFee BybitbpOrdersPrice spread, now +0.123%Rate

Funding earned: −$50.4
Price spread: +0.123% → −0.013%: $13.55
Slippage, 4 orders: −$23.9
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$83.75
Costs to cover: 0.469%
Break-even: never at this rate

Slippage from BloFin: live order book, 1 min ago; Bybit: live order book, 2 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 BloFin live order book, 1 min ago	1.02 bp	10.9 bp −$11	17.7 bp −$177	68.5 bp −$6,854	doesn't fit
Sell Bybit live order book, 2 min ago	0.51 bp	6.0 bp −$6	36.8 bp −$368	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
Lighter XPL	−0.0168%	1h	0.09766	+0.072%	$4.4M	$4.3M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0073% / S +0.0481%	1h	0.09775	+0.162%	$113K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0006%	1h	0.09783	+0.246%	$178K	$283K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09750	−0.092%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.424%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09779	+0.205%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09776	+0.169%	$72K	—	150x	as long as short
01 Exchange XPLUSD	+0.0008%	1h	0.09772	+0.133%	$568	$582	5x	as long as short
Orderly PERP_XPL_USDC	+0.0082%	4h	0.09775	+0.164%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0094%	8h	0.09762	+0.036%	$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	0.09768	+0.090%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09789	+0.312%	$62.9M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09779	+0.209%	$253K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09763	+0.040%	$221K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09766	+0.072%	$44.1M	$104.3M	75x	as long as short
Bybit XPLUSDTshort	+0.0100%	4h	0.09771	+0.123%	$47.7M	$53.2M	75x
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09766	+0.072%	$9.1M	$53.1M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09822	+0.650%	$142K	$11K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09774	+0.154%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09768	+0.092%	$12.8M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09776	+0.174%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09770	+0.113%	$8.6M	$11.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09765	+0.061%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09799	+0.410%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09789	+0.305%	$265K	$786K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09790	+0.318%	$25K	$86K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09784	+0.257%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09750	−0.092%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09780	+0.215%	$201	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09756	−0.031%	$138K	$245K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09771	+0.128%	$656K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09780	+0.212%	$38K	$5K	3x	as long as short
BloFin XPL-USDTlong	+0.0340%	4h	0.09759	long leg	$1.8M	$1.2M	75x
Phoenix XPL	+0.0485%	1h	0.09766	+0.072%	$197K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09844	+0.871%	$74K	$105K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3481%	1h	0.09823	+0.654%	$517K	$939K	10x	as long as short