Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.010%

Price spread now: HTX against Bybit−0.062%7-day average +0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs−$117as in the Price arb table

costs, in and out, $10k−$1101.097% of the position

Long on Bybit Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.240%+$24 on $10k

Price spread, last 4 days (all we have)−0.136%−$14 · spread now −0.062%, 7d avg +0.016%

Together, before fees+0.104%+$10 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: HTX is 0.078% cheaper against Bybit than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XPLUSDT	0.09641	0.0100	pay 0.0050% / 4h	1h 54m	$45.7M	$53.5M	75x
Short	HTX XPL-USDT	0.09635	0.0100	get 0.0050% / 4h	1h 54m	$134K	$214K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.062%Rate

Funding earned: $0
Price spread: −0.062% → +0.016%: −$7.78
Slippage, 4 orders: −$86.66
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee HTX: 6 bp × 2 orders: −$12
Net: −$117.44
Costs to cover: 1.097%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; HTX: live order book, 52 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 Bybit live order book, 5 min ago	0.52 bp	12.8 bp −$13	34.0 bp −$340	doesn't fit	doesn't fit
Sell HTX live order book, 52 min ago	7.84 bp	61.0 bp −$61	doesn't fit	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	−0.0432%	1h	0.09628	−0.135%	$560	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0372%	1h	0.09641	0.000%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09645	+0.038%	$106K	—	100x	as long as short
Lighter XPL	−0.0168%	1h	0.09636	−0.052%	$4.4M	$3.0M	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09649	+0.082%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.473%	—	—	—	as long as short
Orderly PERP_XPL_USDC	+0.0005%	4h	0.09639	−0.021%	$30K	$280K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09648	+0.069%	$73K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0055%	8h	0.09640	−0.014%	$13K	$696	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09638	−0.031%	$1.2M	$2.2M	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	0.09656	+0.158%	$61.1M	$46.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09652	+0.115%	$254K	$415K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09648	+0.073%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09639	−0.026%	$43.7M	$97.4M	75x	as long as short
Bybit XPLUSDTlong	+0.0100%	4h	0.09641	long leg	$45.7M	$53.5M	75x
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09641	0.000%	$8.0M	$48.3M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09643	+0.021%	$3.1M	$3.3M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09638	−0.031%	$12.6M	$6.8M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09643	+0.021%	$2.3M	$1.3M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09650	+0.093%	$8.9M	$9.6M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09645	+0.041%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09643	+0.021%	$175K	$189K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09661	+0.205%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09660	+0.197%	$259K	$1.2M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09680	+0.405%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09646	+0.051%	$126K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09620	−0.218%	$2K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09640	−0.010%	$201	$9K	10x	as long as short
HTX XPL-USDTshort	+0.0100%	4h	0.09635	−0.062%	$134K	$214K	20x
Bulk XPL-USD	+0.0100%	1h	0.09676	+0.363%	$141K	$0	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09639	−0.022%	$606K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09640	−0.010%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09693	+0.539%	$196K	$506K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09652	+0.114%	$1.7M	$939K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.09718	+0.799%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2828%	1h	0.09682	+0.424%	$550K	$953K	10x	as long as short