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 Aster−0.050%7-day average −0.071% · you buy dearer than you sell

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$670.670% of the position

Long on Aster 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)+0.143%+$14 · spread now −0.050%, 7d avg −0.071%

Together, before fees+0.037%+ Points / potential airdropAster: Stage 5 · farm board+$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: Bybit is 0.022% dearer against Aster than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.071%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster XPLUSDT	0.09810	0.0100	pay 0.0050% / 4h	51m 38s	$254K	$527K	20x
Short	Bybit XPLUSDT	0.09805	0.0100	get 0.0050% / 4h	51m 38s	$48.1M	$55.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Aster. 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 AsterbpFee BybitbpOrdersPrice spread, now −0.050%Rate

Funding earned: $0
Price spread: −0.050% → −0.071%: $2.17
Slippage, 4 orders: −$47.99
Fee Aster: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$64.82
Costs to cover: 0.670%
Break-even: never at this rate

Slippage from Aster: live order book, 26 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 Aster live order book, 26 min ago	4.12 bp	21.9 bp −$22	171.1 bp −$1,711	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	0.51 bp	12.6 bp −$13	38.9 bp −$389	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	−0.0376%	1h	0.09800	−0.100%	$4.4M	$4.1M	10x	as long as short
01 Exchange XPLUSD	−0.0256%	1h	0.09801	−0.090%	$570	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0158%	1h	0.09812	+0.022%	$47K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0124% / S +0.0515%	1h	0.09815	+0.054%	$113K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09808	−0.018%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.828%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09814	+0.037%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0062%	4h	0.09809	−0.009%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0082%	8h	0.09802	−0.083%	$13K	$2K	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09803	−0.070%	$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	0.09822	+0.123%	$63.5M	$47.9M	10x	as long as short
Aster XPLUSDTlong	+0.0100%	4h	0.09810	long leg	$254K	$527K	20x
Pacifica XPL	+0.0100%	1h	0.09811	+0.010%	$223K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09804	−0.060%	$44.4M	$107.7M	75x	as long as short
Bybit XPLUSDTshort	+0.0100%	4h	0.09805	−0.050%	$48.1M	$55.0M	75x
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09801	−0.090%	$8.9M	$54.6M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09804	−0.060%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09808	−0.019%	$12.8M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09800	−0.100%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09814	+0.042%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09803	−0.070%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09812	+0.022%	$178K	$279K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09788	−0.221%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09812	+0.020%	$261K	$787K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09800	−0.100%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09816	+0.062%	$131K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09790	−0.202%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09810	+0.001%	$451	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09811	+0.012%	$139K	$246K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09790	−0.202%	$143K	$9K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09801	−0.087%	$660K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09810	+0.001%	$38K	$5K	3x	as long as short
Phoenix XPL	+0.0327%	1h	0.09824	+0.144%	$199K	$651K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09816	+0.063%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0568%	1h	0.09825	+0.154%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5065%	1h	0.09857	+0.480%	$567K	$1.0M	10x	as long as short