Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.001%

Price spread now: Pacifica against Nado−0.070%50s7-day average +0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$570.568% of the position

Long on Nado Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.001%$0 on $10k

Price spread, last 3 days (all we have)−0.270%−$27 · spread now −0.070%, 7d avg +0.037%

Together, before fees−0.271%+ Points / potential airdropNado: Active · Pacifica: Active · farm board−$27 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: Pacifica is 0.107% cheaper against Nado than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of +0.037%. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado XPL-PERP	0.09738	0.0100	pay 0.0012% / 1h	51m 35s	$1.4M	$2.6M	10x
Short	Pacifica XPL	0.09731	0.0100	get 0.0013% / 1h	51m 35s	$220K	$19K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Nado. 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 NadobpFee PacificabpOrdersPrice spread, now −0.070%Rate

Funding earned: $0
Price spread: −0.070% → +0.037%: −$10.69
Slippage, 4 orders: −$41.83
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$67.52
Costs to cover: 0.568%
Break-even: 6936747135887965.0 days

Slippage from Nado: live order book, 2 min ago; Pacifica: live order book, 36 min ago.

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 Nado live order book, 2 min ago	2.06 bp	7.0 bp −$7	25.8 bp −$258	doesn't fit	doesn't fit
Sell Pacifica live order book, 36 min ago	10.08 bp	20.0 bp −$20	doesn't fit	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	−0.0277%	1h	0.09740	+0.018%	$180K	$283K	10x	as long as short
Lighter XPL	−0.0240%	1h	0.09718	−0.208%	$4.4M	$4.2M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0067% / S +0.0477%	1h	0.09741	+0.029%	$112K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0058%	1h	0.09741	+0.028%	$47K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09729	−0.096%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.257%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09740	+0.013%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0079%	4h	0.09734	−0.044%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0095%	8h	0.09732	−0.062%	$13K	$2K	5x	as long as short
Nado XPL-PERPlong	+0.0100%	1h	0.09738	long leg	$1.4M	$2.6M	10x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid XPL	+0.0100%	1h	0.09728	−0.101%	$63.0M	$46.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09734	−0.044%	$252K	$527K	20x	as long as short
Pacifica XPLshort	+0.0100%	1h	0.09731	−0.070%	$220K	$19K	10x
Binance XPLUSDT	+0.0100%	4h	0.09731	−0.074%	$44.3M	$103.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09728	−0.105%	$47.0M	$52.5M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09733	−0.054%	$9.0M	$52.7M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09728	−0.105%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09731	−0.074%	$12.8M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09734	−0.044%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09739	+0.008%	$8.6M	$11.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09733	−0.054%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09837	+1.019%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09760	+0.222%	$265K	$782K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09840	+1.045%	$25K	$82K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09745	+0.067%	$131K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09720	−0.187%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09730	−0.085%	$199	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09702	−0.372%	$138K	$245K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09730	−0.085%	$140K	$11K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09733	−0.052%	$653K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09742	+0.036%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09717	−0.218%	$1.8M	$1.2M	75x	as long as short
01 Exchange XPLUSD	+0.0344%	1h	0.09730	−0.085%	$566	$582	5x	as long as short
Phoenix XPL	+0.0485%	1h	0.09742	+0.039%	$199K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09965	+2.328%	$75K	$106K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3475%	1h	0.09842	+1.063%	$469K	$878K	10x	as long as short