Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0400%/8h= +43.8% APRpaid last 24h +0.046%

Price spread now: Bybit against 01 Exchange+0.021%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on 01 Exchange Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Bybit is 0.021% dearer against 01 Exchange than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange XPLUSD	0.09552	−0.0360	get 0.0045% / 1h	0m 46s	$555	$708	5x
Short	Bybit XPLUSDT	0.09554	0.0040	get 0.0020% / 4h	3h 00m	$45.2M	$54.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against 01 Exchange. 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 01 ExchangebpFee BybitbpOrdersPrice spread, now +0.021%Rate

Funding earned: $83.91
Price spread: +0.021% → 0.000%: $2.09
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $68
Costs to cover: 0.180%
Break-even: 1.3 days

Slippage unknown: 01 Exchange: no order-book sample; Bybit: live order book, 3 min ago. Net counts fees only.

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 01 Exchange no order-book sample	—	—	—	—	—
Sell Bybit live order book, 3 min ago	0.52 bp	16.4 bp −$16	42.0 bp −$420	doesn't fit	doesn't fit

01 Exchange: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 XPLUSDlong	−0.0360%	1h	0.09552	long leg	$555	$708	5x
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09561	+0.094%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0168%	1h	0.09561	+0.094%	$46K	$18K	25x	as long as short
Backpack XPL_USDC_PERP	−0.0077%	1h	0.09563	+0.115%	$174K	$190K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09572	+0.208%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.741%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09563	+0.111%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0009%	4h	0.09557	+0.052%	$29K	$332K	10x	as long as short
Lighter XPL	+0.0016%	1h	0.09551	−0.010%	$4.3M	$3.0M	10x	as long as short
Bybit XPLUSDTshort	+0.0040%	4h	0.09554	+0.021%	$45.2M	$54.1M	75x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPL-USD-PERP	+0.0051%	8h	0.09562	+0.108%	$12K	$696	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09568	+0.165%	$1.2M	$2.4M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09561	+0.097%	$60.4M	$46.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09560	+0.079%	$249K	$426K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09567	+0.162%	$219K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09553	+0.010%	$43.4M	$100.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09554	+0.021%	$8.1M	$48.2M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09601	+0.509%	$140K	$5K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09558	+0.063%	$3.1M	$3.5M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09554	+0.021%	$12.6M	$7.1M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09562	+0.105%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09562	+0.105%	$9.0M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09554	+0.021%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09553	+0.009%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09613	+0.640%	$259K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09610	+0.607%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09571	+0.199%	$127K	$1.9M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09540	−0.126%	$2K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09560	+0.084%	$197	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09611	+0.618%	$141K	$184K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09553	+0.010%	$650K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09551	−0.007%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09584	+0.335%	$194K	$573K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09563	+0.115%	$1.7M	$945K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0640%	1h	0.09596	+0.461%	$73K	$76K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3139%	1h	0.09594	+0.435%	$545K	$988K	10x	as long as short