Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0451%/8h= +49.4% APRpaid last 24h +0.019%

Price spread now: Aevo against Bybit+0.083%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 5 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

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Aevo is 0.083% dearer against Bybit than usual: you sell high and buy low: +$8 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XPLUSDT	0.09498	−0.0347	get 0.0174% / 4h	3h 35m	$45.1M	$54.2M	75x
Short	Aevo XPL-PERP	0.09506	0.0104	get 0.0013% / 1h	35m 49s	$28K	$18K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo 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 AevobpOrdersPrice spread, now +0.083%Rate

Funding earned: $94.79
Price spread: +0.083% → 0.000%: $8.32
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Aevo: 8 bp × 2 orders: −$16
Net: $76.11
Costs to cover: 0.270%
Break-even: 1.4 days

Slippage unknown: Bybit: live order book, 3 min ago; Aevo: no order-book sample. 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 Bybit live order book, 3 min ago	0.53 bp	14.5 bp −$15	34.5 bp −$345	doesn't fit	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: 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
Lighter XPL	−0.1272%	1h	0.09494	−0.042%	$4.3M	$3.1M	10x	as long as short
01 Exchange XPLUSD	−0.0440%	1h	0.09486	−0.126%	$552	$873	5x	as long as short
Bybit XPLUSDTlong	−0.0347%	4h	0.09498	long leg	$45.1M	$54.2M	75x
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09506	+0.080%	$105K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0170%	1h	0.09510	+0.126%	$46K	$18K	25x	as long as short
Paradex XPL-USD-PERP	−0.0104%	8h	0.09486	−0.128%	$12K	$696	5x	as long as short
Gate XPL_USDT	−0.0060%	4h	0.09504	+0.063%	$2.9M	$3.3M	75x	as long as short
Backpack XPL_USDC_PERP	−0.0034%	1h	0.09507	+0.095%	$178K	$179K	10x	as long as short
OKX XPL-USDT-SWAP	−0.0031%	4h	0.09497	−0.011%	$7.6M	$47.3M	50x	as long as short
Orderly PERP_XPL_USDC	−0.0026%	4h	0.09504	+0.063%	$30K	$258K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX XPL-USD	0.0000%	1h	0.09502	+0.046%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.290%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09503	+0.056%	$72K	—	150x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09492	−0.063%	$1.3M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09514	+0.173%	$60.2M	$45.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09510	+0.126%	$251K	$402K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09495	−0.037%	$217K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09500	+0.022%	$43.3M	$98.1M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09510	+0.126%	$139K	$0	10x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09500	+0.021%	$12.5M	$6.5M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09507	+0.095%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09509	+0.116%	$9.0M	$9.9M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09499	+0.011%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09502	+0.041%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09509	+0.115%	$254K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09510	+0.126%	$25K	$73K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09502	+0.037%	$125K	$1.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09480	−0.190%	$3K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09510	+0.126%	$188	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09500	+0.021%	$131K	$213K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09498	0.000%	$588K	$1.1M	25x	as long as short
Aevo XPL-PERPshort	+0.0104%	1h	0.09506	+0.083%	$28K	$18K	3x
Phoenix XPL	+0.0251%	1h	0.09520	+0.232%	$193K	$494K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09506	+0.084%	$1.7M	$928K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0536%	1h	0.09596	+1.032%	$64K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2721%	1h	0.09532	+0.359%	$541K	$956K	10x	as long as short