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 +0.001%

Price spread now: Nado against Pacifica−0.018%7-day average −0.034% · 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−$56as in the Price arb table

costs, in and out, $10k−$580.578% of the position

Long on Pacifica Short on Nado

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)+0.192%+$19 · spread now −0.018%, 7d avg −0.034%

Together, before fees+0.193%+ Points / potential airdropPacifica: Active · Nado: Active · farm board+$19 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica XPL	0.09704	0.0100	pay 0.0013% / 1h	30m 24s	$221K	$46K	10x
Short	Nado XPL-PERP	0.09702	0.0100	get 0.0012% / 1h	30m 24s	$1.4M	$2.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Pacifica. 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 PacificabpFee NadobpOrdersPrice spread, now −0.018%Rate

Funding earned: $0
Price spread: −0.018% → −0.034%: $1.64
Slippage, 4 orders: −$42.85
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$56.21
Costs to cover: 0.578%
Break-even: never at this rate

Slippage from Pacifica: live order book, 48 min ago; Nado: live order book, 3 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 Pacifica live order book, 48 min ago	10.29 bp	17.8 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 3 min ago	1.03 bp	7.8 bp −$8	19.7 bp −$197	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
Lighter XPL	−0.0632%	1h	0.09684	−0.203%	$4.4M	$4.1M	10x	as long as short
01 Exchange XPLUSD	−0.0416%	1h	0.09694	−0.100%	$564	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0265%	1h	0.09700	−0.038%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0135% / S +0.0522%	1h	0.09716	+0.127%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09710	+0.070%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−21.984%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09714	+0.110%	$76K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0019%	8h	0.09695	−0.089%	$13K	$2K	5x	as long as short
Orderly PERP_XPL_USDC	+0.0051%	4h	0.09708	+0.044%	$29K	$335K	10x	as long as short
Gate XPL_USDT	+0.0072%	4h	0.09704	+0.003%	$3.0M	$4.0M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XPL-PERPshort	+0.0100%	1h	0.09702	−0.018%	$1.4M	$2.6M	10x
Hyperliquid XPL	+0.0100%	1h	0.09718	+0.150%	$62.7M	$48.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09709	+0.051%	$252K	$527K	20x	as long as short
Pacifica XPLlong	+0.0100%	1h	0.09704	long leg	$221K	$46K	10x
Binance XPLUSDT	+0.0100%	4h	0.09710	+0.065%	$44.2M	$108.2M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09710	+0.065%	$47.3M	$55.3M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09708	+0.044%	$8.7M	$54.3M	50x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09707	+0.034%	$12.7M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09707	+0.034%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09712	+0.086%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09709	+0.055%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09701	−0.028%	$179K	$281K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09696	−0.075%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09710	+0.065%	$260K	$806K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09710	+0.065%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09716	+0.123%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09680	−0.244%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09700	−0.038%	$200	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09711	+0.075%	$138K	$233K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09700	−0.040%	$141K	$9K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09695	−0.086%	$653K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09700	−0.038%	$38K	$5K	3x	as long as short
Phoenix XPL	+0.0327%	1h	0.09721	+0.178%	$197K	$651K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09700	−0.038%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0568%	1h	0.09825	+1.250%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5116%	1h	0.09758	+0.564%	$563K	$1.0M	10x	as long as short