Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h +0.001%

Price spread now: Nado against Polymarket Perps−0.154%7-day average −0.090% · 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−$46as in the Price arb table

costs, in and out, $10k−$400.397% of the position

Long on Polymarket Perps 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)+0.058%+$6 · spread now −0.154%, 7d avg −0.090%

Together, before fees+0.059%+ Points / potential airdropNado: Active · farm board+$6 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: Nado is 0.065% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.090%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps XPL-USD	0.09936	0.0100	pay 0.0013% / 1h	14m 01s	$133K	$2.7M	10x
Short	Nado XPL-PERP	0.09920	0.0100	get 0.0012% / 1h	14m 01s	$1.5M	$2.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Polymarket Perps. 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 Polymarket PerpsbpFee NadobpOrdersPrice spread, now −0.154%Rate

Funding earned: $0
Price spread: −0.154% → −0.090%: −$6.46
Slippage, 4 orders: −$24.71
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$46.17
Costs to cover: 0.397%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 5 min ago; Nado: live order book, 5 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 Polymarket Perps live order book, 5 min ago	1.83 bp	5.8 bp −$6	8.4 bp −$84	doesn't fit	doesn't fit
Sell Nado live order book, 5 min ago	5.57 bp	12.4 bp −$12	31.1 bp −$311	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	−0.0192%	1h	0.09914	−0.217%	$576	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0172% / S +0.0546%	1h	0.09940	+0.048%	$114K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0052%	1h	0.09937	+0.014%	$48K	$18K	25x	as long as short
Lighter XPL	0.0000%	1h	0.09930	−0.056%	$4.5M	$4.2M	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09923	−0.128%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−23.804%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09938	+0.025%	$78K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0020%	4h	0.09932	−0.036%	$30K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0045%	8h	0.09919	−0.164%	$13K	$2K	5x	as long as short
OKX XPL-USDT-SWAP	+0.0092%	4h	0.09906	−0.298%	$8.8M	$56.2M	50x	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	0.09920	−0.154%	$1.5M	$2.6M	10x
Aster XPLUSDT	+0.0100%	4h	0.09947	+0.115%	$257K	$536K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09920	−0.157%	$226K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09939	+0.038%	$45.5M	$108.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09940	+0.044%	$48.3M	$56.1M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09870	−0.660%	$144K	$2K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09941	+0.054%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09939	+0.034%	$13.2M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09942	+0.064%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09949	+0.135%	$9.0M	$11.2M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09942	+0.064%	—	$8.0M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09946	+0.105%	$187K	$253K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09912	−0.238%	$1.8M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09914	−0.217%	$263K	$844K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09910	−0.258%	$26K	$89K	50x	as long as short
Polymarket Perps XPL-USDlong	+0.0100%	1h	0.09936	long leg	$133K	$2.7M	10x
SunX XPL-USDT	+0.0100%	4h	0.09910	−0.258%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09930	−0.056%	$499	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09929	−0.066%	$144K	$243K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09931	−0.044%	$673K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09940	+0.048%	$30K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09918	−0.177%	$201K	$655K	10x	as long as short
Hyperliquid XPL	+0.0195%	1h	0.09960	+0.249%	$64.6M	$47.1M	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09929	−0.066%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09980	+0.447%	$74K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4983%	1h	0.09984	+0.492%	$577K	$1.0M	10x	as long as short