Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against Binance−0.020%7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$510.510% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.078%−$8 on $10k

Price spread, last 7 days+0.022%+$2 · spread now −0.020%, 7d avg −0.014%

Together, before fees−0.056%−$6 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XPLUSDT	0.09915	0.0100	pay 0.0050% / 4h	3h 09m	$45.4M	$108.8M	75x
Short	Bybit XPLUSDT	0.09913	0.0100	get 0.0050% / 4h	3h 09m	$48.3M	$56.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Binance. 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 BinancebpFee BybitbpOrdersPrice spread, now −0.020%Rate

Funding earned: $0
Price spread: −0.020% → −0.014%: −$0.63
Slippage, 4 orders: −$29.98
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$51.62
Costs to cover: 0.510%
Break-even: never at this rate

Slippage from Binance: live order book, 4 min ago; Bybit: live order book, 5 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 Binance live order book, 4 min ago	0.50 bp	10.4 bp −$10	25.2 bp −$252	129.7 bp −$13.0K	doesn't fit
Sell Bybit live order book, 5 min ago	0.50 bp	12.6 bp −$13	39.6 bp −$396	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
01 Exchange XPLUSD	−0.0200%	1h	0.09923	+0.081%	$577	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0174% / S +0.0547%	1h	0.09920	+0.051%	$114K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09922	+0.070%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−23.645%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09920	+0.050%	$48K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09921	+0.064%	$77K	—	150x	as long as short
Lighter XPL	+0.0016%	1h	0.09901	−0.141%	$4.5M	$4.2M	10x	as long as short
Orderly PERP_XPL_USDC	+0.0019%	4h	0.09915	0.000%	$30K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0047%	8h	0.09923	+0.083%	$13K	$2K	5x	as long as short
OKX XPL-USDT-SWAP	+0.0082%	4h	0.09907	−0.081%	$8.8M	$56.0M	50x	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	0.09923	+0.081%	$1.5M	$2.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09927	+0.117%	$257K	$539K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09926	+0.110%	$226K	$46K	10x	as long as short
Binance XPLUSDTlong	+0.0100%	4h	0.09915	long leg	$45.4M	$108.8M	75x
Bybit XPLUSDTshort	+0.0100%	4h	0.09913	−0.020%	$48.3M	$56.1M	75x
Bulk XPL-USD	+0.0100%	1h	0.09870	−0.454%	$144K	$2K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09922	+0.071%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09916	+0.010%	$13.2M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09926	+0.111%	$2.5M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09925	+0.101%	$8.9M	$11.2M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09917	+0.020%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09911	−0.040%	$185K	$254K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09896	−0.193%	$1.8M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09903	−0.121%	$263K	$844K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09910	−0.050%	$26K	$89K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09931	+0.162%	$133K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09910	−0.050%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09910	−0.050%	$498	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09916	+0.010%	$144K	$243K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09915	−0.003%	$673K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09915	0.000%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09925	+0.101%	$201K	$655K	10x	as long as short
Hyperliquid XPL	+0.0187%	1h	0.09934	+0.194%	$64.5M	$47.0M	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09916	+0.010%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09980	+0.656%	$74K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4993%	1h	0.09964	+0.496%	$576K	$1.0M	10x	as long as short