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 KuCoin−0.075%7-day average −0.001% · you buy dearer than you sell

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

Long on KuCoin 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+0.062%+$6 · spread now −0.075%, 7d avg −0.001%

Together, before fees+0.062%+ Points / potential airdropVariational Omni: Active · farm board+$6 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 0.074% cheaper against KuCoin than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XPLUSDTM	0.09525	0.0100	pay 0.0050% / 4h	47m 59s	$2.3M	$1.4M	50x
Short	Variational Omni XPL	0.09518	0.0100	get 0.0050% / 4h	47m 59s	$1.7M	$1.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against KuCoin. 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 KuCoinbpFee Variational OmnibpOrdersPrice spread, now −0.075%Rate

Funding earned: $0
Price spread: −0.075% → −0.001%: −$7.39
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$19.39
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 4 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 KuCoin live order book, 4 min ago	13.65 bp	27.6 bp −$28	150.4 bp −$1,504	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 1 min ago	3.68 bp	doesn't fit	74.2 bp −$742	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
01 Exchange XPLUSD	−0.0320%	1h	0.09510	−0.157%	$553	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0290% / S +0.0602%	1h	0.09517	−0.080%	$105K	—	100x	as long as short
Bybit XPLUSDT	−0.0121%	4h	0.09515	−0.105%	$45.1M	$55.6M	75x	as long as short
Backpack XPL_USDC_PERP	−0.0111%	1h	0.09520	−0.052%	$176K	$226K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09511	−0.149%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.517%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09515	−0.105%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	+0.0003%	4h	0.09515	−0.105%	$29K	$339K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09518	−0.077%	$72K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0072%	8h	0.09514	−0.112%	$12K	$2K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPL	+0.0096%	1h	0.09504	−0.220%	$4.3M	$3.3M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09519	−0.063%	$1.2M	$2.7M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09532	+0.073%	$59.7M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09523	−0.017%	$242K	$486K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09509	−0.168%	$217K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09520	−0.052%	$43.2M	$104.7M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09523	−0.021%	$8.2M	$49.6M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09519	−0.063%	$3.0M	$3.6M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09521	−0.042%	$12.3M	$7.7M	100x	as long as short
KuCoin XPLUSDTMlong	+0.0100%	4h	0.09525	long leg	$2.3M	$1.4M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09525	0.000%	$8.5M	$10.3M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09519	−0.063%	—	$7.9M	—	as long as short
Variational Omni XPLshort	+0.0100%	4h	0.09518	−0.075%	$1.7M	$1.8M	—
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09541	+0.164%	$254K	$955K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09530	+0.052%	$25K	$79K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09526	+0.007%	$127K	$2.1M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09500	−0.262%	$2K	$1.8M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09510	−0.157%	$190	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09460	−0.682%	$142K	$246K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09565	+0.420%	$139K	$5K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09517	−0.079%	$643K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09512	−0.134%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0334%	1h	0.09540	+0.157%	$193K	$617K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09501	−0.252%	$1.7M	$984K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0616%	1h	0.09606	+0.850%	$74K	$86K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3344%	1h	0.09540	+0.159%	$541K	$977K	10x	as long as short