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: Bybit against MEXC−0.082%7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$280.283% of the position

Long on MEXC Short on Bybit

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+0.088%+$9 · spread now −0.082%, 7d avg −0.019%

Together, before fees+0.011%+$1 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: Bybit is 0.063% cheaper against MEXC than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XPL_USDT	0.09760	0.0100	pay 0.0050% / 4h	2h 36m	$12.7M	$7.6M	100x
Short	Bybit XPLUSDT	0.09752	0.0100	get 0.0050% / 4h	2h 36m	$47.6M	$53.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against MEXC. 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 MEXCbpFee BybitbpOrdersPrice spread, now −0.082%Rate

Funding earned: $0
Price spread: −0.082% → −0.019%: −$6.35
Slippage, 4 orders: −$17.34
Fee MEXC: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$34.68
Costs to cover: 0.283%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 min ago; Bybit: live order book, 2 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 MEXC live order book, 2 min ago	0.51 bp	3.3 bp −$3	7.0 bp −$70	84.6 bp −$8,461	227.6 bp −$113.8K
Sell Bybit live order book, 2 min ago	0.51 bp	6.0 bp −$6	36.8 bp −$368	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	−0.0136%	1h	0.09756	−0.041%	$4.4M	$4.3M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0074% / S +0.0482%	1h	0.09760	−0.001%	$112K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0006%	1h	0.09783	+0.236%	$178K	$283K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09773	+0.132%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.433%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09779	+0.195%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09759	−0.009%	$72K	—	150x	as long as short
01 Exchange XPLUSD	+0.0008%	1h	0.09762	+0.020%	$568	$582	5x	as long as short
Orderly PERP_XPL_USDC	+0.0082%	4h	0.09752	−0.082%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0094%	8h	0.09766	+0.057%	$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	0.09756	−0.038%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09769	+0.093%	$62.8M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09766	+0.064%	$253K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09770	+0.098%	$221K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09755	−0.048%	$44.1M	$104.3M	75x	as long as short
Bybit XPLUSDTshort	+0.0100%	4h	0.09752	−0.082%	$47.6M	$53.2M	75x
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09750	−0.102%	$9.0M	$53.0M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09822	+0.640%	$142K	$11K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09754	−0.061%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDTlong	+0.0100%	4h	0.09760	long leg	$12.7M	$7.6M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09764	+0.041%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09761	+0.010%	$8.6M	$11.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09753	−0.072%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09799	+0.400%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09789	+0.295%	$265K	$786K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09790	+0.307%	$25K	$86K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09766	+0.061%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09750	−0.102%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09780	+0.205%	$201	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09756	−0.041%	$138K	$245K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09761	+0.013%	$656K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09780	+0.202%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09759	−0.010%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09766	+0.061%	$197K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09844	+0.861%	$74K	$105K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3481%	1h	0.09823	+0.644%	$517K	$939K	10x	as long as short