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: Aster against Bybit+0.098%7-day average +0.072% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$630.628% of the position

Long on Bybit Short on Aster

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)−0.147%−$15 · spread now +0.098%, 7d avg +0.072%

Together, before fees−0.041%+ Points / potential airdropAster: Stage 5 · farm board−$4 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: Aster is 0.026% dearer against Bybit than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.072%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XPLUSDT	0.09697	0.0100	pay 0.0050% / 4h	11m 53s	$47.0M	$55.6M	75x
Short	Aster XPLUSDT	0.09707	0.0100	get 0.0050% / 4h	11m 53s	$252K	$527K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Bybit. 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 BybitbpFee AsterbpOrdersPrice spread, now +0.098%Rate

Funding earned: $0
Price spread: +0.098% → +0.072%: $2.62
Slippage, 4 orders: −$43.79
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Aster: 4 bp × 2 orders: −$8
Net: −$60.17
Costs to cover: 0.628%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Aster: live order book, 66 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 Bybit live order book, 2 min ago	0.51 bp	9.7 bp −$10	38.9 bp −$389	doesn't fit	doesn't fit
Sell Aster live order book, 66 min ago	4.12 bp	19.4 bp −$19	111.3 bp −$1,113	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	−0.0504%	1h	0.09681	−0.165%	$4.4M	$4.2M	10x	as long as short
01 Exchange XPLUSD	−0.0384%	1h	0.09702	+0.052%	$564	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0369%	1h	0.09693	−0.041%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0144% / S +0.0527%	1h	0.09709	+0.123%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09708	+0.115%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−21.931%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09708	+0.116%	$76K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0006%	8h	0.09697	−0.003%	$13K	$2K	5x	as long as short
Orderly PERP_XPL_USDC	+0.0041%	4h	0.09692	−0.052%	$29K	$335K	10x	as long as short
Gate XPL_USDT	+0.0042%	4h	0.09703	+0.062%	$3.0M	$4.1M	75x	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	0.09706	+0.098%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09714	+0.175%	$62.6M	$48.2M	10x	as long as short
Aster XPLUSDTshort	+0.0100%	4h	0.09707	+0.098%	$252K	$527K	20x
Pacifica XPL	+0.0100%	1h	0.09709	+0.126%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09699	+0.022%	$44.2M	$108.6M	75x	as long as short
Bybit XPLUSDTlong	+0.0100%	4h	0.09697	long leg	$47.0M	$55.6M	75x
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09697	0.000%	$8.7M	$54.5M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09711	+0.146%	$141K	$9K	10x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09699	+0.021%	$12.7M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09701	+0.041%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09706	+0.093%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09697	0.000%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09703	+0.062%	$179K	$282K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09704	+0.073%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09709	+0.121%	$260K	$806K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09710	+0.134%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09716	+0.198%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09670	−0.278%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09690	−0.072%	$206	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09703	+0.062%	$138K	$242K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09704	+0.069%	$653K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09694	−0.035%	$38K	$5K	3x	as long as short
Phoenix XPL	+0.0327%	1h	0.09731	+0.351%	$197K	$651K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09702	+0.052%	$1.7M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0568%	1h	0.09735	+0.392%	$72K	$96K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5126%	1h	0.09738	+0.425%	$562K	$1.0M	10x	as long as short