Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0053%/8h= +5.8% APRpaid last 24h +0.009%

Price spread now: Variational Omni against Paradex+0.079%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · Variational Omni: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Variational Omni is 0.079% dearer against Paradex than usual: you sell high and buy low: +$8 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex XPL-USD-PERP	0.09907	0.0047	pay 0.0047% / 8h	7h 17m	$13K	$2K	5x
Short	Variational Omni XPL	0.09915	0.0100	get 0.0050% / 4h	3h 17m	$1.8M	$2.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Paradex. 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 ParadexbpFee Variational OmnibpOrdersPrice spread, now +0.079%Rate

Funding earned: $11.12
Price spread: +0.079% → 0.000%: $7.95
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $15.07
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; 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 Paradex no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 2 min ago	4.05 bp	doesn't fit	52.6 bp −$526	doesn't fit	doesn't fit

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0255%	1h	0.09899	−0.081%	$47K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0176%	1h	0.09891	−0.161%	$575	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0171% / S +0.0545%	1h	0.09897	−0.100%	$114K	—	100x	as long as short
Lighter XPL	0.0000%	1h	0.09889	−0.182%	$4.5M	$4.2M	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09910	+0.031%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−23.585%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09899	−0.081%	$77K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0022%	4h	0.09895	−0.121%	$30K	$335K	10x	as long as short
Paradex XPL-USD-PERPlong	+0.0047%	8h	0.09907	long leg	$13K	$2K	5x
Nado XPL-PERP	+0.0100%	1h	0.09903	−0.038%	$1.5M	$2.6M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster XPLUSDT	+0.0100%	4h	0.09905	−0.025%	$256K	$534K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09910	+0.030%	$225K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09910	+0.030%	$45.3M	$108.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09912	+0.051%	$48.2M	$56.1M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09910	+0.030%	$8.8M	$56.2M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09870	−0.373%	$144K	$2K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09898	−0.091%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09899	−0.081%	$13.1M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09900	−0.071%	$2.5M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09912	+0.051%	$8.8M	$11.2M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09907	0.000%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09906	−0.010%	$186K	$263K	10x	as long as short
Variational Omni XPLshort	+0.0100%	4h	0.09915	+0.079%	$1.8M	$2.0M	—
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09920	+0.131%	$266K	$835K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09920	+0.131%	$26K	$89K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09914	+0.068%	$133K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09890	−0.171%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09900	−0.071%	$201	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09878	−0.293%	$143K	$243K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09892	−0.147%	$669K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09910	+0.030%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09918	+0.111%	$201K	$655K	10x	as long as short
Hyperliquid XPL	+0.0202%	1h	0.09925	+0.185%	$64.4M	$47.1M	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09897	−0.101%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09980	+0.737%	$74K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5001%	1h	0.09949	+0.421%	$575K	$1.0M	10x	as long as short