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 0.000%

Price spread now: Polymarket Perps against Pacifica+0.172%48s7-day average +0.052% · you sell dearer than you buy

Net, funding: paid 7d − costs−$66as in the Funding arb table

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

costs, in and out, $10k−$620.616% of the position

Long on Pacifica Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.048%−$5 on $10k

Price spread, last 3 days (all we have)+0.151%+$15 · spread now +0.172%, 7d avg +0.052%

Together, before fees+0.103%+ Points / potential airdropPacifica: Active · farm board+$10 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 0.120% dearer against Pacifica than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of +0.052%. The two prices were read 48 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	Pacifica XPL	0.09747	0.0100	pay 0.0013% / 1h	15m 43s	$221K	$45K	10x
Short	Polymarket Perps XPL-USD	0.09764	0.0100	get 0.0013% / 1h	15m 43s	$129K	$2.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.172%Rate

Funding earned: $0
Price spread: +0.172% → +0.052%: $12.01
Slippage, 4 orders: −$45.56
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$49.55
Costs to cover: 0.616%
Break-even: never at this rate

Slippage from Pacifica: live order book, 7 min ago; Polymarket Perps: 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, 7 min ago	5.10 bp	21.9 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 3 min ago	2.19 bp	8.8 bp −$9	9.0 bp −$90	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	−0.0160%	1h	0.09755	+0.081%	$47K	$18K	25x	as long as short
Lighter XPL	−0.0096%	1h	0.09731	−0.165%	$4.4M	$4.3M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0083% / S +0.0488%	1h	0.09756	+0.092%	$112K	—	100x	as long as short
01 Exchange XPLUSD	−0.0048%	1h	0.09738	−0.093%	$566	$582	5x	as long as short
Backpack XPL_USDC_PERP	−0.0006%	1h	0.09755	+0.081%	$178K	$283K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09751	+0.040%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.330%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09758	+0.110%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0082%	4h	0.09751	+0.040%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0091%	8h	0.09741	−0.068%	$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	0.09753	+0.063%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09750	+0.032%	$62.7M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09754	+0.072%	$252K	$527K	20x	as long as short
Pacifica XPLlong	+0.0100%	1h	0.09747	long leg	$221K	$45K	10x
Binance XPLUSDT	+0.0100%	4h	0.09738	−0.093%	$43.9M	$105.0M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09740	−0.073%	$47.5M	$53.5M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09742	−0.052%	$9.0M	$53.3M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09815	+0.697%	$141K	$11K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09741	−0.063%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09738	−0.093%	$12.7M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09747	−0.001%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09747	−0.001%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09739	−0.083%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09808	+0.630%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09796	+0.498%	$265K	$775K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09810	+0.645%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USDshort	+0.0100%	1h	0.09764	+0.172%	$129K	$2.7M	10x
SunX XPL-USDT	+0.0100%	4h	0.09740	−0.073%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09750	+0.030%	$202	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09753	+0.061%	$138K	$245K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09737	−0.101%	$661K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09755	+0.078%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09754	+0.071%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09836	+0.912%	$199K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09805	+0.594%	$74K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3485%	1h	0.09812	+0.661%	$517K	$942K	10x	as long as short