Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0308%/8h= +33.7% APRpaid last 24h +0.058%

Price spread now: Bybit against 01 Exchange−0.272%54s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on 01 Exchange Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Bybit is 0.272% cheaper against 01 Exchange than usual: you would sell low and buy high (spread −0.272% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$27 on $10k: about 2.9 days of funding at the current rate (+$9 a day). The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange XPLUSD	0.09549	−0.0208	get 0.0026% / 1h	40m 41s	$555	$708	5x
Short	Bybit XPLUSDT	0.09523	0.0100	get 0.0050% / 4h	2h 40m	$45.1M	$54.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against 01 Exchange. 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 01 ExchangebpFee BybitbpOrdersPrice spread, now −0.272%Rate

Funding earned: $64.68
Price spread: −0.272% → 0.000%: −$27.23
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $19.45
Costs to cover: 0.180%
Break-even: 4.9 days

Slippage unknown: 01 Exchange: no order-book sample; Bybit: live order book, 3 min ago. Net counts fees only.

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 01 Exchange no order-book sample	—	—	—	—	—
Sell Bybit live order book, 3 min ago	0.52 bp	15.8 bp −$16	37.6 bp −$376	doesn't fit	doesn't fit

01 Exchange: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0273%	1h	0.09551	+0.021%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09556	+0.068%	$105K	—	100x	as long as short
01 Exchange XPLUSDlong	−0.0208%	1h	0.09549	long leg	$555	$708	5x
Lighter XPL	−0.0048%	1h	0.09526	−0.241%	$4.3M	$3.0M	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09538	−0.110%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.715%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09557	+0.084%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0015%	4h	0.09548	−0.010%	$29K	$320K	10x	as long as short
Backpack XPL_USDC_PERP	+0.0038%	1h	0.09543	−0.063%	$173K	$190K	10x	as long as short
Paradex XPL-USD-PERP	+0.0064%	8h	0.09556	+0.074%	$12K	$696	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	0.09550	+0.016%	$1.2M	$2.4M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09549	−0.004%	$60.3M	$46.8M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09541	−0.081%	$247K	$430K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09536	−0.138%	$218K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09524	−0.262%	$43.2M	$100.4M	75x	as long as short
Bybit XPLUSDTshort	+0.0100%	4h	0.09523	−0.272%	$45.1M	$54.3M	75x
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09525	−0.251%	$8.1M	$48.0M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09565	+0.172%	$139K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09537	−0.126%	$3.0M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09535	−0.147%	$12.5M	$6.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09536	−0.136%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09543	−0.063%	$9.1M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09534	−0.157%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09544	−0.048%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09588	+0.413%	$258K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09570	+0.220%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09563	+0.151%	$125K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09530	−0.199%	$3K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09550	+0.010%	$203	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09592	+0.450%	$140K	$184K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09529	−0.210%	$632K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09549	+0.003%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09575	+0.272%	$194K	$536K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09548	−0.010%	$1.7M	$943K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0592%	1h	0.09640	+0.953%	$67K	$90K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2901%	1h	0.09584	+0.366%	$545K	$988K	10x	as long as short