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 −0.020%

Price spread now: GRVT against Bybit−0.082%110s7-day average +0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$125as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1331.334% of the position

Long on Bybit Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.086%+$9 on $10k

Price spread, last 3 days (all we have)+0.323%+$32 · spread now −0.082%, 7d avg +0.021%

Together, before fees+0.410%+ Points / potential airdropGRVT: Active · farm board+$41 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: GRVT is 0.103% cheaper against Bybit than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.021%. The two prices were read 110 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XPLUSDT	0.09718	0.0100	pay 0.0050% / 4h	29m 45s	$47.3M	$55.3M	75x
Short	GRVT XPL_USDT_Perp	0.09710	0.0100	get 0.0050% / 4h	29m 45s	$260K	$806K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.082%Rate

Funding earned: $0
Price spread: −0.082% → +0.021%: −$10.31
Slippage, 4 orders: −$113.42
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$143.73
Costs to cover: 1.334%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; GRVT: live order book, 48 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, 4 min ago	0.52 bp	12.3 bp −$12	38.9 bp −$389	doesn't fit	doesn't fit
Sell GRVT live order book, 48 min ago	5.15 bp	34.0 bp −$34	223.5 bp −$2,235	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	−0.0616%	1h	0.09709	−0.093%	$4.4M	$4.2M	10x	as long as short
01 Exchange XPLUSD	−0.0416%	1h	0.09694	−0.247%	$564	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0135% / S +0.0522%	1h	0.09716	−0.021%	$112K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0059%	1h	0.09714	−0.041%	$47K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09720	+0.022%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.099%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09714	−0.038%	$76K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0020%	8h	0.09719	+0.012%	$13K	$2K	5x	as long as short
Orderly PERP_XPL_USDC	+0.0051%	4h	0.09708	−0.103%	$29K	$335K	10x	as long as short
Gate XPL_USDT	+0.0072%	4h	0.09717	−0.010%	$3.0M	$4.0M	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	0.09702	−0.165%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09729	+0.116%	$62.8M	$48.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09723	+0.048%	$252K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09725	+0.072%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09719	+0.010%	$44.2M	$108.2M	75x	as long as short
Bybit XPLUSDTlong	+0.0100%	4h	0.09718	long leg	$47.3M	$55.3M	75x
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09718	0.000%	$8.7M	$54.3M	50x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09717	−0.010%	$12.7M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09716	−0.021%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09725	+0.072%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09718	0.000%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09713	−0.051%	$179K	$281K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09696	−0.222%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perpshort	+0.0100%	4h	0.09710	−0.082%	$260K	$806K	10x
ApeX Omni XPLUSDT	+0.0100%	1h	0.09710	−0.082%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09716	−0.025%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09690	−0.288%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09710	−0.082%	$197	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09699	−0.196%	$138K	$233K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09700	−0.187%	$141K	$9K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09708	−0.106%	$653K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09715	−0.031%	$38K	$5K	3x	as long as short
Phoenix XPL	+0.0327%	1h	0.09721	+0.031%	$197K	$651K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09700	−0.185%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0568%	1h	0.09825	+1.101%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5110%	1h	0.09769	+0.522%	$563K	$1.0M	10x	as long as short