Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.001%

Price spread now: Polymarket Perps against Nado+0.109%7-day average +0.036% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$320.320% of the position

Long on Nado Short on Polymarket Perps

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 7 days−0.336%−$34 · spread now +0.109%, 7d avg +0.036%

Together, before fees−0.337%+ Points / potential airdropNado: Active · farm board−$34 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: Polymarket Perps is 0.073% dearer against Nado than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado XPL-PERP	0.09565	0.0100	pay 0.0012% / 1h	22m 54s	$1.2M	$2.4M	10x
Short	Polymarket Perps XPL-USD	0.09575	0.0100	get 0.0013% / 1h	22m 54s	$125K	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.109%Rate

Funding earned: $0
Price spread: +0.109% → +0.036%: $7.32
Slippage, 4 orders: −$16.96
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$24.65
Costs to cover: 0.320%
Break-even: 225089579156314.1 days

Slippage from Nado: live order book, 1 min ago; Polymarket Perps: live order book, 6 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, 1 min ago	2.09 bp	7.4 bp −$7	20.4 bp −$204	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 6 min ago	3.30 bp	9.1 bp −$9	9.2 bp −$92	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	−0.0272%	1h	0.09570	+0.052%	$46K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0272%	1h	0.09556	−0.094%	$556	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09570	+0.050%	$106K	—	100x	as long as short
Lighter XPL	0.0000%	1h	0.09561	−0.042%	$4.3M	$3.0M	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09577	+0.126%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.848%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09573	+0.079%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0009%	4h	0.09566	+0.010%	$29K	$306K	10x	as long as short
Paradex XPL-USD-PERP	+0.0062%	8h	0.09574	+0.098%	$12K	$696	5x	as long as short
Nado XPL-PERPlong	+0.0100%	1h	0.09565	long leg	$1.2M	$2.4M	10x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid XPL	+0.0100%	1h	0.09589	+0.247%	$60.6M	$46.3M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09593	+0.298%	$252K	$428K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09578	+0.140%	$219K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09584	+0.198%	$43.4M	$100.0M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09577	+0.125%	$45.4M	$53.9M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09579	+0.146%	$8.1M	$48.2M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09569	+0.042%	$3.0M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09580	+0.157%	$12.3M	$6.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09578	+0.136%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09590	+0.261%	$9.1M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09584	+0.199%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09578	+0.136%	$174K	$190K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09545	−0.210%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09557	−0.085%	$253K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09540	−0.261%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USDshort	+0.0100%	1h	0.09575	+0.109%	$125K	$2.0M	10x
SunX XPL-USDT	+0.0100%	4h	0.09550	−0.157%	$2K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09570	+0.052%	$200	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09592	+0.282%	$137K	$191K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09540	−0.261%	$139K	$0	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09578	+0.140%	$601K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09567	+0.023%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09582	+0.178%	$194K	$536K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09560	−0.052%	$1.7M	$943K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0592%	1h	0.09605	+0.418%	$67K	$89K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2895%	1h	0.09602	+0.391%	$546K	$981K	10x	as long as short