Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against OKX+0.143%7-day average +0.005% · you sell dearer than you buy

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

Long on OKX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)0.000%$0 on $10k

Price spread, last 7 days−0.172%−$17 · spread now +0.143%, 7d avg +0.005%

Together, before fees−0.172%+ Points / potential airdropVariational Omni: Active · farm board−$17 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 0.138% dearer against OKX than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of +0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX XPL-USDT-SWAP	0.09680	0.0100	pay 0.0050% / 4h	3h 32m	$8.2M	$49.0M	50x
Short	Variational Omni XPL	0.09694	0.0100	get 0.0050% / 4h	3h 32m	$1.7M	$1.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against OKX. 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 OKXbpFee Variational OmnibpOrdersPrice spread, now +0.143%Rate

Funding earned: $0
Price spread: +0.143% → +0.005%: $13.79
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $3.79
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: OKX: live order book, 1 min ago; Variational Omni: RFQ quote, 2 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 OKX live order book, 1 min ago	0.52 bp	12.5 bp −$13	32.5 bp −$325	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	4.13 bp	doesn't fit	63.0 bp −$630	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	−0.0392%	1h	0.09680	0.000%	$563	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0304% / S +0.0610%	1h	0.09685	+0.053%	$107K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0095%	1h	0.09700	+0.207%	$177K	$190K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09691	+0.115%	$9K	$585	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.789%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09699	+0.196%	$46K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09686	+0.064%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0011%	4h	0.09680	0.000%	$29K	$339K	10x	as long as short
Paradex XPL-USD-PERP	+0.0047%	8h	0.09683	+0.035%	$13K	$2K	5x	as long as short
Bybit XPLUSDT	+0.0063%	4h	0.09681	+0.010%	$45.8M	$54.2M	75x	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	0.09678	−0.021%	$4.4M	$3.0M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09679	−0.008%	$1.2M	$2.4M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09698	+0.187%	$61.5M	$46.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09690	+0.102%	$252K	$454K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09692	+0.120%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09680	0.000%	$44.0M	$101.5M	75x	as long as short
OKX XPL-USDT-SWAPlong	+0.0100%	4h	0.09680	long leg	$8.2M	$49.0M	50x
Gate XPL_USDT	+0.0100%	4h	0.09682	+0.021%	$3.1M	$3.5M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09681	+0.010%	$12.7M	$7.0M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09689	+0.093%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09688	+0.083%	$8.9M	$9.6M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09680	0.000%	—	$7.8M	—	as long as short
Variational Omni XPLshort	+0.0100%	4h	0.09694	+0.143%	$1.7M	$1.9M	—
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09690	+0.103%	$256K	$1.0M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09720	+0.413%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09691	+0.118%	$129K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09680	0.000%	$3K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09690	+0.103%	$201	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09696	+0.165%	$142K	$192K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09680	0.000%	$141K	$5K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09679	−0.008%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09680	0.000%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09709	+0.300%	$197K	$573K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09694	+0.145%	$1.7M	$969K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0640%	1h	0.09722	+0.434%	$75K	$76K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3099%	1h	0.09719	+0.408%	$553K	$990K	10x	as long as short