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: KuCoin against Bybit+0.062%7-day average +0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$890.893% of the position

Long on Bybit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.106%+$11 on $10k

Price spread, last 7 days−0.066%−$7 · spread now +0.062%, 7d avg +0.030%

Together, before fees+0.041%+$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: KuCoin is 0.031% dearer against Bybit than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XPLUSDT	0.09701	0.0100	pay 0.0050% / 4h	2h 01m	$47.3M	$53.7M	75x
Short	KuCoin XPLUSDTM	0.09707	0.0100	get 0.0050% / 4h	2h 01m	$2.4M	$1.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.062%Rate

Funding earned: $0
Price spread: +0.062% → +0.030%: $3.14
Slippage, 4 orders: −$66.34
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$86.2
Costs to cover: 0.893%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; KuCoin: live order book, 5 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	14.6 bp −$15	38.8 bp −$388	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	15.52 bp	35.3 bp −$35	162.0 bp −$1,620	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
Deribit XPL_USDC-PERPETUAL	−0.0368%	1h	0.09702	+0.010%	$47K	$18K	25x	as long as short
Backpack XPL_USDC_PERP	−0.0108%	1h	0.09704	+0.031%	$177K	$283K	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0090% / S +0.0492%	1h	0.09705	+0.040%	$112K	—	100x	as long as short
Lighter XPL	−0.0080%	1h	0.09692	−0.093%	$4.4M	$4.3M	10x	as long as short
01 Exchange XPLUSD	−0.0072%	1h	0.09699	−0.021%	$564	$708	5x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09709	+0.086%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−21.962%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09705	+0.041%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0082%	4h	0.09699	−0.021%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0090%	8h	0.09700	−0.010%	$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	0.09701	0.000%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09716	+0.150%	$62.4M	$47.3M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09706	+0.048%	$251K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09707	+0.065%	$220K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09700	−0.010%	$43.6M	$105.6M	75x	as long as short
Bybit XPLUSDTlong	+0.0100%	4h	0.09701	long leg	$47.3M	$53.7M	75x
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09702	+0.010%	$9.0M	$53.2M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09700	−0.008%	$140K	$10K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09700	−0.010%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09702	+0.010%	$12.7M	$7.7M	100x	as long as short
KuCoin XPLUSDTMshort	+0.0100%	4h	0.09707	+0.062%	$2.4M	$1.4M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09707	+0.062%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09700	−0.010%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09662	−0.401%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09698	−0.030%	$262K	$775K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09710	+0.093%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09712	+0.108%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09680	−0.216%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09700	−0.010%	$201	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09710	+0.093%	$138K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09700	−0.009%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09703	+0.021%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09711	+0.103%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09705	+0.041%	$196K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09731	+0.309%	$73K	$102K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3506%	1h	0.09755	+0.552%	$514K	$948K	10x	as long as short