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 +0.003%

Price spread now: Variational Omni against Gate−0.232%7-day average −0.007% · you buy dearer than you sell

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

Long on Gate Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.017%+$2 on $10k

Price spread, last 7 days+0.199%+$20 · spread now −0.232%, 7d avg −0.007%

Together, before fees+0.216%+ Points / potential airdropVariational Omni: Active · farm board+$22 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 0.226% cheaper against Gate than usual: you would sell low and buy high, −$23 on $10k if it goes back to its 7-day average of −0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XPL_USDT	0.09548	0.0100	pay 0.0050% / 4h	1h 45m	$2.9M	$3.7M	75x
Short	Variational Omni XPL	0.09526	0.0100	get 0.0050% / 4h	1h 45m	$1.7M	$1.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Gate. 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 GatebpFee Variational OmnibpOrdersPrice spread, now −0.232%Rate

Funding earned: $0
Price spread: −0.232% → −0.007%: −$22.55
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$37.55
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Gate: 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 Gate live order book, 2 min ago	3.66 bp	24.2 bp −$24	154.5 bp −$1,545	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	4.20 bp	doesn't fit	54.6 bp −$546	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	−0.0732%	1h	0.09551	+0.031%	$179K	$243K	10x	as long as short
01 Exchange XPLUSD	−0.0440%	1h	0.09518	−0.314%	$553	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0273%	1h	0.09553	+0.052%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0244% / S +0.0574%	1h	0.09542	−0.062%	$105K	—	100x	as long as short
Orderly PERP_XPL_USDC	−0.0003%	4h	0.09549	+0.010%	$29K	$335K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09528	−0.212%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.711%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09544	−0.043%	$72K	—	150x	as long as short
Lighter XPL	+0.0008%	1h	0.09542	−0.063%	$4.3M	$4.2M	10x	as long as short
OKX XPL-USDT-SWAP	+0.0035%	4h	0.09544	−0.042%	$8.2M	$52.9M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPL-USD-PERP	+0.0048%	8h	0.09528	−0.206%	$12K	$2K	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09528	−0.207%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09558	+0.101%	$60.2M	$48.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09547	−0.007%	$243K	$500K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09540	−0.086%	$218K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09549	+0.012%	$43.3M	$108.5M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09537	−0.115%	$45.3M	$56.8M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09640	+0.964%	$140K	$7K	10x	as long as short
Gate XPL_USDTlong	+0.0100%	4h	0.09548	long leg	$2.9M	$3.7M	75x
MEXC XPL_USDT	+0.0100%	4h	0.09548	0.000%	$12.3M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09534	−0.147%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09545	−0.031%	$8.5M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09550	+0.021%	—	$8.0M	—	as long as short
Variational Omni XPLshort	+0.0100%	4h	0.09526	−0.232%	$1.7M	$1.8M	—
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09592	+0.460%	$260K	$901K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09550	+0.021%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09541	−0.079%	$127K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09520	−0.293%	$2K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09550	+0.021%	$2K	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09558	+0.105%	$144K	$264K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09540	−0.082%	$629K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09546	−0.019%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09573	+0.262%	$194K	$629K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09558	+0.105%	—	$1.0M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0672%	1h	0.09455	−0.974%	$73K	$91K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3586%	1h	0.09585	+0.385%	$544K	$1.0M	10x	as long as short