Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against Bybit+0.083%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 5 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. dYdX is 0.083% dearer against Bybit than usual: you sell high and buy low (spread +0.083% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XPLUSDT	0.09721	0.0100	pay 0.0050% / 4h	1h 37m	$47.3M	$54.0M	75x
Short	dYdX XPL-USD	0.09729	0	get 0.0000% / 1h	37m 43s	$8K	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.083%Rate

Funding earned: −$21
Price spread: +0.083% → 0.000%: $8.27
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$33.73
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 1 min ago; dYdX: 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 Bybit live order book, 1 min ago	1.03 bp	13.4 bp −$13	47.1 bp −$471	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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
Backpack XPL_USDC_PERP	−0.0307%	1h	0.09729	+0.082%	$177K	$281K	10x	as long as short
01 Exchange XPLUSD	−0.0200%	1h	0.09741	+0.206%	$566	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0161%	1h	0.09726	+0.051%	$47K	$18K	25x	as long as short
Lighter XPL	−0.0152%	1h	0.09711	−0.103%	$4.4M	$4.1M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0102% / S +0.0500%	1h	0.09741	+0.201%	$112K	—	100x	as long as short
dYdX XPL-USDshort	0.0000%	1h	0.09729	+0.083%	$8K	—	5x
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.122%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09740	+0.198%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0078%	4h	0.09734	+0.134%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0090%	8h	0.09717	−0.037%	$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	0.09743	+0.231%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09737	+0.168%	$62.8M	$47.5M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09730	+0.091%	$251K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09727	+0.065%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09721	0.000%	$43.7M	$106.3M	75x	as long as short
Bybit XPLUSDTlong	+0.0100%	4h	0.09721	long leg	$47.3M	$54.0M	75x
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09719	−0.021%	$8.9M	$53.4M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09750	+0.296%	$140K	$8K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09718	−0.031%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09719	−0.021%	$12.6M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09720	−0.010%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09725	+0.041%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09718	−0.031%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09747	+0.271%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09730	+0.097%	$261K	$789K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09740	+0.195%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09752	+0.315%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09720	−0.010%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09730	+0.093%	$448	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09743	+0.226%	$138K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09717	−0.038%	$660K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09727	+0.058%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09752	+0.319%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09744	+0.237%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09760	+0.401%	$72K	$104K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4597%	1h	0.09765	+0.454%	$514K	$953K	10x	as long as short