Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Bybit against SunX+0.155%7-day average +0.137% · you sell dearer than you buy

Net, funding: paid 7d − costs−$348as in the Funding arb table

Net, price: spread back to 7d avg − costs−$336as in the Price arb table

costs, in and out, $10k−$3383.377% of the position

Long on SunX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.106%−$11 on $10k

Price spread, last 3 days (all we have)+0.191%+$19 · spread now +0.155%, 7d avg +0.137%

Together, before fees+0.085%+$9 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XPL-USDT	0.09690	0.0100	pay 0.0050% / 4h	1h 32m	$3K	$2.0M	20x
Short	Bybit XPLUSDT	0.09705	0.0100	get 0.0050% / 4h	1h 32m	$47.2M	$54.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against SunX. 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 SunXbpFee BybitbpOrdersPrice spread, now +0.155%Rate

Funding earned: $0
Price spread: +0.155% → +0.137%: $1.81
Slippage, 4 orders: −$318.73
Fee SunX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$335.92
Costs to cover: 3.377%
Break-even: never at this rate

Slippage from SunX: live order book, 4 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 SunX live order book, 4 min ago	36.14 bp	160.6 bp −$161	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	0.51 bp	13.7 bp −$14	40.3 bp −$403	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
Backpack XPL_USDC_PERP	−0.0372%	1h	0.09704	+0.144%	$176K	$281K	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0265%	1h	0.09707	+0.175%	$47K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0216%	1h	0.09719	+0.299%	$565	$708	5x	as long as short
Lighter XPL	−0.0208%	1h	0.09694	+0.041%	$4.4M	$4.1M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0105% / S +0.0502%	1h	0.09711	+0.217%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09729	+0.405%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−21.875%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09710	+0.209%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0076%	4h	0.09703	+0.134%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0088%	8h	0.09729	+0.400%	$13K	$2K	5x	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	0.09710	+0.206%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09720	+0.304%	$62.9M	$47.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09715	+0.255%	$251K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09734	+0.456%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09703	+0.134%	$43.7M	$106.4M	75x	as long as short
Bybit XPLUSDTshort	+0.0100%	4h	0.09705	+0.155%	$47.2M	$54.1M	75x
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09693	+0.031%	$8.9M	$53.4M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09750	+0.617%	$140K	$8K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09704	+0.144%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09706	+0.165%	$12.6M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09711	+0.217%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09706	+0.165%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09699	+0.093%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09701	+0.117%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09687	−0.027%	$260K	$777K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09700	+0.103%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09716	+0.267%	$129K	$2.7M	10x	as long as short
SunX XPL-USDTlong	+0.0100%	4h	0.09690	long leg	$3K	$2.0M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09700	+0.103%	$446	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09708	+0.186%	$138K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09701	+0.117%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09717	+0.282%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09718	+0.289%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09762	+0.743%	$198K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09760	+0.722%	$72K	$104K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4602%	1h	0.09756	+0.676%	$516K	$955K	10x	as long as short