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 BingX+0.130%7-day average +0.016% · you sell dearer than you buy

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

Long on BingX 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−0.136%−$14 · spread now +0.130%, 7d avg +0.016%

Together, before fees−0.136%+ Points / potential airdropVariational Omni: Active · farm board−$14 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 0.114% dearer against BingX than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of +0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX XPL-USDT	0.09902	0.0100	pay 0.0050% / 4h	3h 20m	—	$7.9M	—
Short	Variational Omni XPL	0.09915	0.0100	get 0.0050% / 4h	3h 20m	$1.8M	$2.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against BingX. 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 BingXbpFee Variational OmnibpOrdersPrice spread, now +0.130%Rate

Funding earned: $0
Price spread: +0.130% → +0.016%: $11.43
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $1.43
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: BingX: live order book, 2 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 BingX live order book, 2 min ago	5.55 bp	14.6 bp −$15	26.8 bp −$268	84.0 bp −$8,401	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	4.02 bp	doesn't fit	67.4 bp −$674	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	−0.0254%	1h	0.09918	+0.162%	$48K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0169% / S +0.0544%	1h	0.09922	+0.207%	$114K	—	100x	as long as short
01 Exchange XPLUSD	−0.0152%	1h	0.09904	+0.020%	$576	$708	5x	as long as short
Lighter XPL	0.0000%	1h	0.09907	+0.050%	$4.5M	$4.2M	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09911	+0.094%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−23.545%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09922	+0.206%	$77K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0024%	4h	0.09917	+0.151%	$30K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0047%	8h	0.09906	+0.040%	$13K	$2K	5x	as long as short
Backpack XPL_USDC_PERP	+0.0087%	1h	0.09913	+0.111%	$186K	$271K	10x	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	0.09910	+0.086%	$1.5M	$2.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09923	+0.210%	$257K	$534K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09912	+0.100%	$226K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09906	+0.040%	$45.4M	$108.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09909	+0.071%	$48.3M	$56.2M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09913	+0.111%	$8.8M	$56.2M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09880	−0.222%	$144K	$2K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09909	+0.071%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09908	+0.061%	$13.1M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09918	+0.162%	$2.5M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09925	+0.232%	$8.8M	$11.1M	75x	as long as short
BingX XPL-USDTlong	+0.0100%	4h	0.09902	long leg	—	$7.9M	—
Variational Omni XPLshort	+0.0100%	4h	0.09915	+0.130%	$1.8M	$2.0M	—
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09940	+0.384%	$263K	$828K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09930	+0.283%	$26K	$89K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09918	+0.165%	$133K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09900	−0.020%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09910	+0.081%	$202	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09880	−0.222%	$143K	$243K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09916	+0.146%	$673K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09954	+0.525%	$30K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09941	+0.394%	$201K	$655K	10x	as long as short
Hyperliquid XPL	+0.0226%	1h	0.09922	+0.200%	$64.4M	$47.1M	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09912	+0.101%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09980	+0.788%	$74K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4993%	1h	0.09965	+0.632%	$576K	$1.0M	10x	as long as short