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 HTX+0.599%7-day average −0.002% · you sell dearer than you buy

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

Long on HTX 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 3 days (all we have)−0.353%−$35 · spread now +0.599%, 7d avg −0.002%

Together, before fees−0.353%+ Points / potential airdropVariational Omni: Active · farm board−$35 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 0.601% dearer against HTX than usual: you sell high and buy low, +$60 on $10k if it goes back to its 7-day average of −0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XPL-USDT	0.09691	0.0100	pay 0.0050% / 4h	2h 12m	$137K	$246K	20x
Short	Variational Omni XPL	0.09749	0.0100	get 0.0050% / 4h	2h 12m	$1.7M	$1.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against HTX. 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 HTXbpFee Variational OmnibpOrdersPrice spread, now +0.599%Rate

Funding earned: $0
Price spread: +0.599% → −0.002%: $60.1
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $48.1
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: HTX: live order book, 9 min ago; Variational Omni: RFQ quote, 1 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 HTX live order book, 9 min ago	15.83 bp	22.7 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 1 min ago	4.11 bp	doesn't fit	63.6 bp −$636	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	−0.0367%	1h	0.09712	+0.217%	$47K	$18K	25x	as long as short
Lighter XPL	−0.0088%	1h	0.09700	+0.093%	$4.4M	$4.3M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0085% / S +0.0489%	1h	0.09717	+0.263%	$112K	—	100x	as long as short
01 Exchange XPLUSD	−0.0048%	1h	0.09723	+0.330%	$565	$582	5x	as long as short
Backpack XPL_USDC_PERP	−0.0046%	1h	0.09713	+0.227%	$177K	$283K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09739	+0.499%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−21.881%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09718	+0.274%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0083%	4h	0.09710	+0.196%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0092%	8h	0.09725	+0.352%	$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	0.09721	+0.310%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09721	+0.310%	$62.4M	$47.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09729	+0.388%	$252K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09732	+0.426%	$220K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09720	+0.299%	$43.8M	$105.3M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09719	+0.289%	$47.3M	$53.6M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09717	+0.268%	$9.0M	$53.2M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09815	+1.280%	$141K	$11K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09720	+0.299%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09723	+0.330%	$12.7M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09721	+0.310%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09726	+0.361%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09721	+0.310%	—	$7.9M	—	as long as short
Variational Omni XPLshort	+0.0100%	4h	0.09749	+0.599%	$1.7M	$1.9M	—
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09751	+0.615%	$264K	$775K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09750	+0.609%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09732	+0.423%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09710	+0.196%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09710	+0.196%	$202	$10K	10x	as long as short
HTX XPL-USDTlong	+0.0100%	4h	0.09691	long leg	$137K	$246K	20x
Extended XPL-USD	+0.0104%	1h	0.09723	+0.327%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09713	+0.223%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09723	+0.330%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09771	+0.826%	$198K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09783	+0.949%	$74K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3503%	1h	0.09761	+0.726%	$514K	$944K	10x	as long as short