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: Variational Omni against Binance−0.283%7-day average +0.014% · you buy dearer than you sell

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

Long on Binance 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 7 days+0.269%+$27 · spread now −0.283%, 7d avg +0.014%

Together, before fees+0.269%+ Points / potential airdropVariational Omni: Active · farm board+$27 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 0.297% cheaper against Binance than usual: you would sell low and buy high, −$30 on $10k if it goes back to its 7-day average of +0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XPLUSDT	0.09763	0.0100	pay 0.0050% / 4h	3h 43m	$44.6M	$108.8M	75x
Short	Variational Omni XPL	0.09735	0.0100	get 0.0050% / 4h	3h 43m	$1.6M	$1.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Binance. 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 BinancebpFee Variational OmnibpOrdersPrice spread, now −0.283%Rate

Funding earned: $0
Price spread: −0.283% → +0.014%: −$29.71
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$39.71
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 14 min ago; Variational Omni: RFQ quote, just now. 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 Binance live order book, 14 min ago	0.51 bp	10.6 bp −$11	23.0 bp −$230	124.6 bp −$12.5K	doesn't fit
Sell Variational Omni RFQ quote, just now	4.11 bp	doesn't fit	49.3 bp −$493	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
Deribit XPL_USDC-PERPETUAL	−0.0469%	1h	0.09727	−0.365%	$47K	$18K	25x	as long as short
Backpack XPL_USDC_PERP	−0.0331%	1h	0.09732	−0.314%	$180K	$282K	10x	as long as short
Lighter XPL	−0.0312%	1h	0.09746	−0.170%	$4.4M	$4.2M	10x	as long as short
01 Exchange XPLUSD	−0.0208%	1h	0.09767	+0.045%	$568	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0157% / S +0.0536%	1h	0.09734	−0.293%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09754	−0.088%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.455%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09738	−0.251%	$76K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0030%	4h	0.09730	−0.334%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0030%	8h	0.09754	−0.084%	$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	0.09753	−0.093%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09766	+0.031%	$63.0M	$47.5M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09755	−0.074%	$252K	$533K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09757	−0.057%	$222K	$46K	10x	as long as short
Binance XPLUSDTlong	+0.0100%	4h	0.09763	long leg	$44.6M	$108.8M	75x
Bybit XPLUSDT	+0.0100%	4h	0.09760	−0.027%	$47.3M	$55.7M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09758	−0.047%	$8.6M	$55.0M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09753	−0.099%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09755	−0.078%	$12.8M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09747	−0.160%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09761	−0.017%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09756	−0.068%	—	$7.9M	—	as long as short
Variational Omni XPLshort	+0.0100%	4h	0.09735	−0.283%	$1.6M	$1.9M	—
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09743	−0.202%	$266K	$827K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09740	−0.232%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09745	−0.184%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09720	−0.437%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09730	−0.334%	$197	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09784	+0.219%	$142K	$241K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09720	−0.434%	$142K	$2K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09755	−0.074%	$654K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09726	−0.379%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09719	−0.447%	$197K	$655K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09746	−0.170%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09815	+0.536%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5085%	1h	0.09784	+0.215%	$566K	$1.0M	10x	as long as short