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: MEXC against Bybit+0.052%7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$360.363% of the position

Long on Bybit Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.077%+$8 on $10k

Price spread, last 7 days−0.068%−$7 · spread now +0.052%, 7d avg +0.018%

Together, before fees+0.009%+$1 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: MEXC is 0.034% dearer against Bybit than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XPLUSDT	0.09672	0.0100	pay 0.0050% / 4h	1h 56m	$46.5M	$55.7M	75x
Short	MEXC XPL_USDT	0.09677	0.0100	get 0.0050% / 4h	1h 56m	$12.6M	$7.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.052%Rate

Funding earned: $0
Price spread: +0.052% → +0.018%: $3.36
Slippage, 4 orders: −$25.33
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee MEXC: 0 bp × 2 orders: $0
Net: −$32.97
Costs to cover: 0.363%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; MEXC: 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 Bybit live order book, 2 min ago	0.52 bp	13.0 bp −$13	45.2 bp −$452	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	0.52 bp	2.5 bp −$2	8.9 bp −$89	87.8 bp −$8,780	222.7 bp −$111.4K

XPL on 35 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
Backpack XPL_USDC_PERP	−0.0886%	1h	0.09620	−0.538%	$178K	$242K	10x	as long as short
01 Exchange XPLUSD	−0.0408%	1h	0.09671	−0.010%	$562	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0373%	1h	0.09617	−0.569%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0211% / S +0.0571%	1h	0.09627	−0.470%	$111K	—	100x	as long as short
Lighter XPL	−0.0080%	1h	0.09670	−0.021%	$4.4M	$4.2M	10x	as long as short
Orderly PERP_XPL_USDC	−0.0001%	4h	0.09623	−0.507%	$29K	$335K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09674	+0.024%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.727%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09673	+0.006%	$55K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0035%	4h	0.09674	+0.021%	$8.4M	$53.3M	50x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPL-USD-PERP	+0.0043%	8h	0.09683	+0.110%	$13K	$2K	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09672	0.000%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09685	+0.129%	$61.5M	$47.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09663	−0.093%	$246K	$499K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09673	+0.014%	$220K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09677	+0.056%	$43.9M	$107.8M	75x	as long as short
Bybit XPLUSDTlong	+0.0100%	4h	0.09672	long leg	$46.5M	$55.7M	75x
Gate XPL_USDT	+0.0100%	4h	0.09676	+0.041%	$3.0M	$3.7M	75x	as long as short
MEXC XPL_USDTshort	+0.0100%	4h	0.09677	+0.052%	$12.6M	$7.8M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09665	−0.072%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09680	+0.083%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09674	+0.021%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09670	−0.023%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09656	−0.164%	$259K	$900K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09670	−0.021%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09683	+0.116%	$132K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09600	−0.744%	$2K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09610	−0.641%	$195	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09620	−0.538%	$143K	$250K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09660	−0.124%	$141K	$7K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09674	+0.023%	$651K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09621	−0.530%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0328%	1h	0.09667	−0.052%	$196K	$620K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0672%	1h	0.09766	+0.972%	$78K	$94K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3559%	1h	0.09659	−0.138%	$548K	$1.0M	10x	as long as short