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: Variational Omni against Aster−0.416%7-day average +0.003% · you buy dearer than you sell

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

Long on Aster Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 4 days (all we have)+1.923%+$192 · spread now −0.416%, 7d avg +0.003%

Together, before fees+1.923%+ Points / potential airdropAster: Stage 5 · Variational Omni: Active · farm board+$192 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: Variational Omni is 0.419% cheaper against Aster than usual: you would sell low and buy high, −$42 on $10k if it goes back to its 7-day average of +0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster XPLUSDT	0.09763	0.0100	pay 0.0050% / 4h	1h 01m	$253K	$527K	20x
Short	Variational Omni XPL	0.09722	0.0100	get 0.0050% / 4h	1h 01m	$1.7M	$1.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Aster. 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 AsterbpFee Variational OmnibpOrdersPrice spread, now −0.416%Rate

Funding earned: $0
Price spread: −0.416% → +0.003%: −$41.92
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$49.92
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 16 min ago; Variational Omni: RFQ quote, 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 Aster live order book, 16 min ago	4.12 bp	21.9 bp −$22	171.1 bp −$1,711	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	4.11 bp	doesn't fit	59.5 bp −$595	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	−0.0222%	1h	0.09755	−0.080%	$177K	$279K	10x	as long as short
Lighter XPL	−0.0200%	1h	0.09745	−0.182%	$4.4M	$4.1M	10x	as long as short
01 Exchange XPLUSD	−0.0200%	1h	0.09756	−0.069%	$567	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0119% / S +0.0511%	1h	0.09753	−0.104%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09749	−0.145%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.456%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09753	−0.100%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09753	−0.098%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0068%	4h	0.09747	−0.162%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0086%	8h	0.09755	−0.078%	$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	0.09767	+0.043%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09773	+0.101%	$63.2M	$47.7M	10x	as long as short
Aster XPLUSDTlong	+0.0100%	4h	0.09763	long leg	$253K	$527K	20x
Pacifica XPL	+0.0100%	1h	0.09763	+0.003%	$222K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09758	−0.049%	$44.1M	$107.2M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09761	−0.018%	$48.0M	$54.9M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09760	−0.028%	$8.9M	$54.2M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09714	−0.497%	$142K	$9K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09754	−0.090%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09759	−0.039%	$12.6M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09749	−0.141%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09762	−0.008%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09756	−0.069%	—	$7.9M	—	as long as short
Variational Omni XPLshort	+0.0100%	4h	0.09722	−0.416%	$1.7M	$1.9M	—
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09730	−0.336%	$259K	$787K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09760	−0.028%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09759	−0.044%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09730	−0.336%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09750	−0.131%	$449	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09754	−0.090%	$138K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09755	−0.084%	$656K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09750	−0.131%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09755	−0.080%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09734	−0.295%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09778	+0.156%	$72K	$104K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4578%	1h	0.09806	+0.439%	$564K	$1.0M	10x	as long as short