Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bybit against Pacifica−0.220%7-day average −0.066% · you buy dearer than you sell

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$87as in the Price arb table

costs, in and out, $10k−$720.718% of the position

Long on Pacifica Short on Bybit

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)+0.326%+$33 · spread now −0.220%, 7d avg −0.066%

Together, before fees+0.220%+ Points / potential airdropPacifica: Active · farm board+$22 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 0.155% cheaper against Pacifica than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of −0.066%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica XPL	0.09813	0.0100	pay 0.0013% / 1h	41m 20s	$222K	$19K	10x
Short	Bybit XPLUSDT	0.09791	0.0100	get 0.0050% / 4h	2h 41m	$47.9M	$53.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Pacifica. 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 PacificabpFee BybitbpOrdersPrice spread, now −0.220%Rate

Funding earned: $0
Price spread: −0.220% → −0.066%: −$15.45
Slippage, 4 orders: −$52.77
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$87.22
Costs to cover: 0.718%
Break-even: never at this rate

Slippage from Pacifica: live order book, 46 min ago; Bybit: live order book, 3 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 Pacifica live order book, 46 min ago	10.08 bp	20.0 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.51 bp	12.2 bp −$12	51.3 bp −$513	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	−0.0157%	1h	0.09832	+0.198%	$47K	$18K	25x	as long as short
Lighter XPL	−0.0152%	1h	0.09797	−0.159%	$4.4M	$4.3M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0071% / S +0.0480%	1h	0.09802	−0.104%	$113K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0012%	1h	0.09834	+0.218%	$182K	$282K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09811	−0.019%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.849%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09803	−0.097%	$72K	—	150x	as long as short
01 Exchange XPLUSD	+0.0040%	1h	0.09802	−0.108%	$570	$582	5x	as long as short
Orderly PERP_XPL_USDC	+0.0082%	4h	0.09794	−0.190%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0095%	8h	0.09813	+0.004%	$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	0.09802	−0.105%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09813	+0.005%	$63.1M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09812	−0.008%	$254K	$527K	20x	as long as short
Pacifica XPLlong	+0.0100%	1h	0.09813	long leg	$222K	$19K	10x
Binance XPLUSDT	+0.0100%	4h	0.09797	−0.160%	$44.3M	$104.1M	75x	as long as short
Bybit XPLUSDTshort	+0.0100%	4h	0.09791	−0.220%	$47.9M	$53.1M	75x
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09783	−0.302%	$9.1M	$53.1M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09822	+0.101%	$142K	$11K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09796	−0.169%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09801	−0.118%	$12.8M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09795	−0.179%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09804	−0.088%	$8.6M	$11.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09794	−0.190%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09793	−0.199%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09770	−0.433%	$256K	$777K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09790	−0.230%	$25K	$86K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09811	−0.017%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09820	+0.075%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09830	+0.177%	$206	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09791	−0.220%	$139K	$245K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09803	−0.097%	$660K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09832	+0.202%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09796	−0.169%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09810	−0.026%	$200K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09844	+0.320%	$74K	$105K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3462%	1h	0.09877	+0.660%	$519K	$939K	10x	as long as short