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: MEXC against Bybit0.000%7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$320.316% of the position

Long on Bybit Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.077%+$8 on $10k

Price spread, last 7 days−0.006%−$1 · spread now 0.000%, 7d avg +0.018%

Together, before fees+0.071%+$7 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XPLUSDT	0.09811	0.0100	pay 0.0050% / 4h	54m 36s	$48.2M	$54.9M	75x
Short	MEXC XPL_USDT	0.09811	0.0100	get 0.0050% / 4h	54m 36s	$12.7M	$7.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.018%: −$1.81
Slippage, 4 orders: −$20.57
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee MEXC: 0 bp × 2 orders: $0
Net: −$33.38
Costs to cover: 0.316%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; MEXC: live order book, 9 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	0.51 bp	16.2 bp −$16	38.0 bp −$380	doesn't fit	doesn't fit
Sell MEXC live order book, 9 min ago	0.51 bp	2.5 bp −$2	7.1 bp −$71	82.0 bp −$8,200	231.1 bp −$115.6K

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
01 Exchange XPLUSD	−0.0280%	1h	0.09808	−0.031%	$570	$708	5x	as long as short
Lighter XPL	−0.0272%	1h	0.09802	−0.092%	$4.4M	$4.1M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0158%	1h	0.09809	−0.020%	$47K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0123% / S +0.0514%	1h	0.09812	+0.010%	$113K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09816	+0.053%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.837%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09812	+0.014%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0064%	4h	0.09806	−0.051%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0082%	8h	0.09806	−0.051%	$13K	$2K	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09810	−0.005%	$1.4M	$2.6M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid XPL	+0.0100%	1h	0.09831	+0.209%	$63.7M	$47.8M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09812	+0.011%	$254K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09813	+0.023%	$223K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09811	0.000%	$44.5M	$107.5M	75x	as long as short
Bybit XPLUSDTlong	+0.0100%	4h	0.09811	long leg	$48.2M	$54.9M	75x
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09808	−0.031%	$8.9M	$54.6M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09805	−0.061%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDTshort	+0.0100%	4h	0.09811	0.000%	$12.7M	$7.6M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09808	−0.031%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09819	+0.082%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09810	−0.010%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09814	+0.031%	$178K	$279K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09788	−0.233%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09777	−0.346%	$260K	$787K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09800	−0.112%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09821	+0.104%	$131K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09790	−0.214%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09800	−0.112%	$451	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09788	−0.234%	$139K	$246K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09790	−0.214%	$143K	$9K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09809	−0.024%	$660K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09813	+0.019%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09801	−0.102%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09802	−0.092%	$198K	$651K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0568%	1h	0.09825	+0.143%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5067%	1h	0.09853	+0.432%	$567K	$1.0M	10x	as long as short