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 MEXC+0.641%7-day average +0.010% · you sell dearer than you buy

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

Long on MEXC 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−0.652%−$65 · spread now +0.641%, 7d avg +0.010%

Together, before fees−0.652%+ Points / potential airdropVariational Omni: Active · farm board−$65 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 0.630% dearer against MEXC than usual: you sell high and buy low, +$63 on $10k if it goes back to its 7-day average of +0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XPL_USDT	0.09705	0.0100	pay 0.0050% / 4h	1h 52m	$12.6M	$7.6M	100x
Short	Variational Omni XPL	0.09767	0.0100	get 0.0050% / 4h	1h 52m	$1.7M	$1.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against MEXC. 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 MEXCbpFee Variational OmnibpOrdersPrice spread, now +0.641%Rate

Funding earned: $0
Price spread: +0.641% → +0.010%: $63.02
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $63.02
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: MEXC: live order book, 6 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 MEXC live order book, 6 min ago	1.03 bp	2.0 bp −$2	6.1 bp −$61	77.8 bp −$7,775	225.9 bp −$113.0K
Sell Variational Omni RFQ quote, 1 min ago	4.10 bp	doesn't fit	41.0 bp −$410	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	−0.0471%	1h	0.09707	+0.021%	$47K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0136%	1h	0.09725	+0.206%	$565	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0095% / S +0.0495%	1h	0.09713	+0.083%	$112K	—	100x	as long as short
Lighter XPL	−0.0056%	1h	0.09705	0.000%	$4.4M	$4.1M	10x	as long as short
Backpack XPL_USDC_PERP	−0.0038%	1h	0.09706	+0.010%	$177K	$281K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09719	+0.139%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.992%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09716	+0.111%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0081%	4h	0.09708	+0.031%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0090%	8h	0.09735	+0.305%	$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	0.09731	+0.273%	$1.4M	$2.7M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09727	+0.223%	$62.6M	$47.4M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09715	+0.101%	$251K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09720	+0.155%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09718	+0.134%	$43.7M	$105.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09717	+0.124%	$47.4M	$53.9M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09715	+0.103%	$8.9M	$53.3M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09700	−0.049%	$140K	$10K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09704	−0.010%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDTlong	+0.0100%	4h	0.09705	long leg	$12.6M	$7.6M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09707	+0.021%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09716	+0.113%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09710	+0.052%	—	$7.9M	—	as long as short
Variational Omni XPLshort	+0.0100%	4h	0.09767	+0.641%	$1.7M	$1.9M	—
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09760	+0.567%	$264K	$775K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09790	+0.876%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09738	+0.342%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09710	+0.052%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09710	+0.052%	$205	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09771	+0.680%	$139K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09702	−0.027%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09714	+0.090%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09726	+0.216%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09726	+0.216%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09794	+0.917%	$74K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4603%	1h	0.09753	+0.496%	$513K	$953K	10x	as long as short