Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: HTX against Bybit−0.093%7-day average +0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$97as in the Funding arb table

Net, price: spread back to 7d avg − costs−$133as in the Price arb table

costs, in and out, $10k−$1231.226% of the position

Long on Bybit Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.256%+$26 on $10k

Price spread, last 3 days (all we have)−0.057%−$6 · spread now −0.093%, 7d avg +0.008%

Together, before fees+0.199%+$20 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: HTX is 0.101% 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 +0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XPLUSDT	0.09678	0.0100	pay 0.0050% / 4h	2h 26m	$46.6M	$57.7M	75x
Short	HTX XPL-USDT	0.09669	0.0100	get 0.0050% / 4h	2h 26m	$143K	$258K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.093%Rate

Funding earned: $0
Price spread: −0.093% → +0.008%: −$10.11
Slippage, 4 orders: −$99.55
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee HTX: 6 bp × 2 orders: −$12
Net: −$132.66
Costs to cover: 1.226%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; HTX: live order book, 41 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, 3 min ago	0.52 bp	13.9 bp −$14	35.0 bp −$350	doesn't fit	doesn't fit
Sell HTX live order book, 41 min ago	13.68 bp	73.7 bp −$74	doesn't fit	doesn't fit	doesn't fit

XPL on 35 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
Deribit XPL_USDC-PERPETUAL	−0.0473%	1h	0.09673	−0.052%	$46K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0232%	1h	0.09671	−0.072%	$562	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0197% / S +0.0561%	1h	0.09679	+0.014%	$111K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0101%	1h	0.09680	+0.021%	$179K	$245K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09680	+0.021%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.773%	—	—	—	as long as short
Orderly PERP_XPL_USDC	+0.0001%	4h	0.09675	−0.031%	$29K	$335K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09680	+0.021%	$60K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0053%	4h	0.09675	−0.031%	$8.3M	$54.9M	50x	as long as short
Paradex XPL-USD-PERP	+0.0059%	8h	0.09678	+0.002%	$13K	$2K	5x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPL	+0.0096%	1h	0.09669	−0.093%	$4.4M	$4.2M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09674	−0.044%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09688	+0.106%	$61.9M	$47.9M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09679	+0.013%	$246K	$513K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09679	+0.010%	$220K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09677	−0.010%	$44.0M	$110.1M	75x	as long as short
Bybit XPLUSDTlong	+0.0100%	4h	0.09678	long leg	$46.6M	$57.7M	75x
Bulk XPL-USD	+0.0100%	1h	0.09675	−0.028%	$141K	$7K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09678	0.000%	$3.0M	$3.8M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09676	−0.021%	$12.7M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09665	−0.134%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09680	+0.021%	$8.6M	$11.3M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09679	+0.010%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09672	−0.063%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09679	+0.011%	$264K	$877K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09700	+0.227%	$25K	$86K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09685	+0.069%	$130K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09670	−0.083%	$3K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09670	−0.083%	$197	$11K	10x	as long as short
HTX XPL-USDTshort	+0.0100%	4h	0.09669	−0.093%	$143K	$258K	20x
Extended XPL-USD	+0.0104%	1h	0.09672	−0.062%	$655K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09675	−0.031%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0328%	1h	0.09701	+0.238%	$196K	$657K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0496%	1h	0.09766	+0.909%	$78K	$95K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4404%	1h	0.09713	+0.364%	$551K	$1.0M	10x	as long as short