XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0427%/8h= −46.7% APRnext payment −$2.13 per $10,000 · paid last 24h −0.017%

Price spread now: Bybit against KuCoin−0.052%7-day average −0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$90as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$800.803% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.101%−$10 on $10k

Price spread, last 7 days+0.048%+$5 · spread now −0.052%, 7d avg −0.030%

Together, before fees−0.053%−$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Bybit is 0.022% cheaper against KuCoin than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.030%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.101% in total (about -5.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.13 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XPLUSDTM	0.09529	0.0100	pay 0.0050% / 4h	3h 41m	$2.3M	$1.2M	50x
Short	Bybit XPLUSDT	0.09524	−0.0327	pay 0.0163% / 4h	3h 41m	$45.3M	$54.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against KuCoin. 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 KuCoinbpFee BybitbpOrdersPrice spread, now −0.052%Rate

Funding earned: −$89.57
Price spread: −0.052% → −0.030%: −$2.23
Slippage, 4 orders: −$57.3
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$172.11
Costs to cover: 0.803%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 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 KuCoin live order book, 5 min ago	6.28 bp	27.0 bp −$27	150.5 bp −$1,505	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	0.52 bp	12.1 bp −$12	37.9 bp −$379	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	−0.1336%	1h	0.09523	−0.063%	$4.3M	$3.1M	10x	as long as short
01 Exchange XPLUSD	−0.0440%	1h	0.09512	−0.178%	$553	$873	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0380%	1h	0.09523	−0.063%	$46K	$18K	25x	as long as short
Bybit XPLUSDTshort	−0.0327%	4h	0.09524	−0.052%	$45.3M	$54.1M	75x
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09530	+0.006%	$105K	—	100x	as long as short
Paradex XPL-USD-PERP	−0.0102%	8h	0.09516	−0.140%	$12K	$696	5x	as long as short
Gate XPL_USDT	−0.0036%	4h	0.09529	0.000%	$2.9M	$3.3M	75x	as long as short
OKX XPL-USDT-SWAP	−0.0025%	4h	0.09524	−0.052%	$7.6M	$47.5M	50x	as long as short
Orderly PERP_XPL_USDC	−0.0025%	4h	0.09520	−0.094%	$30K	$261K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09526	−0.026%	$9K	$600	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.551%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09525	−0.044%	$72K	—	150x	as long as short
Backpack XPL_USDC_PERP	+0.0031%	1h	0.09534	+0.052%	$178K	$180K	10x	as long as short
Extended XPL-USD	+0.0096%	1h	0.09527	−0.026%	$595K	$1.1M	25x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09513	−0.168%	$1.3M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09543	+0.145%	$60.4M	$46.0M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09539	+0.106%	$252K	$404K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09526	−0.027%	$218K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09527	−0.016%	$43.3M	$98.1M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09530	+0.010%	$12.5M	$6.5M	100x	as long as short
KuCoin XPLUSDTMlong	+0.0100%	4h	0.09529	long leg	$2.3M	$1.2M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09536	+0.073%	$9.0M	$9.9M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09524	−0.052%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09547	+0.188%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09550	+0.220%	$256K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09560	+0.325%	$25K	$74K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09532	+0.031%	$125K	$1.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09500	−0.304%	$2K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09520	−0.094%	$189	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09527	−0.021%	$132K	$211K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09540	+0.120%	$139K	$0	10x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09520	−0.094%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09561	+0.336%	$193K	$494K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09517	−0.126%	$1.7M	$925K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0536%	1h	0.09596	+0.703%	$64K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2716%	1h	0.09550	+0.222%	$540K	$951K	10x	as long as short