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: Pacifica against Polymarket Perps+0.150%48s7-day average −0.108% · you sell dearer than you buy

Net, funding: paid 7d − costs−$65as 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−$690.692% of the position

Long on Polymarket Perps Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.045%+$4 on $10k

Price spread, last 4 days (all we have)−1.190%−$119 · spread now +0.150%, 7d avg −0.108%

Together, before fees−1.145%+ Points / potential airdropPacifica: Active · farm board−$115 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: Pacifica is 0.258% dearer against Polymarket Perps than usual: you sell high and buy low, +$26 on $10k if it goes back to its 7-day average of −0.108%. 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	Polymarket Perps XPL-USD	0.09553	0.0100	pay 0.0013% / 1h	14m 42s	$125K	$1.8M	10x
Short	Pacifica XPL	0.09568	0.0100	get 0.0013% / 1h	14m 42s	$219K	$46K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.150%Rate

Funding earned: $0
Price spread: +0.150% → −0.108%: $25.82
Slippage, 4 orders: −$53.16
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$43.34
Costs to cover: 0.692%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 4 min ago; Pacifica: live order book, 23 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, 4 min ago	2.51 bp	7.2 bp −$7	8.4 bp −$84	doesn't fit	doesn't fit
Sell Pacifica live order book, 23 min ago	10.47 bp	25.8 bp −$26	doesn't fit	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	−0.1432%	1h	0.09546	−0.076%	$4.3M	$3.2M	10x	as long as short
01 Exchange XPLUSD	−0.0488%	1h	0.09546	−0.076%	$555	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09552	−0.016%	$105K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0064%	1h	0.09550	−0.035%	$46K	$18K	25x	as long as short
Paradex XPL-USD-PERP	−0.0037%	8h	0.09564	+0.115%	$12K	$696	5x	as long as short
Orderly PERP_XPL_USDC	−0.0028%	4h	0.09544	−0.097%	$30K	$277K	10x	as long as short
Bybit XPLUSDT	−0.0024%	4h	0.09555	+0.018%	$45.5M	$54.0M	75x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09568	+0.153%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.753%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09551	−0.025%	$72K	—	150x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX XPL-USDT-SWAP	+0.0055%	4h	0.09556	+0.028%	$7.7M	$47.7M	50x	as long as short
Extended XPL-USD	+0.0088%	1h	0.09554	+0.010%	$595K	$1.2M	25x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09549	−0.045%	$1.3M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09577	+0.247%	$60.4M	$46.0M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09567	+0.146%	$253K	$419K	20x	as long as short
Pacifica XPLshort	+0.0100%	1h	0.09568	+0.150%	$219K	$46K	10x
Binance XPLUSDT	+0.0100%	4h	0.09563	+0.097%	$43.3M	$97.8M	75x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09558	+0.049%	$2.9M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09562	+0.091%	$12.4M	$6.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09560	+0.070%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09565	+0.122%	$9.0M	$9.9M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09556	+0.028%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09556	+0.028%	$179K	$183K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09545	−0.087%	$1.7M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09547	−0.069%	$254K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09560	+0.070%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USDlong	+0.0100%	1h	0.09553	long leg	$125K	$1.8M	10x
SunX XPL-USDT	+0.0100%	4h	0.09530	−0.244%	$2K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09550	−0.035%	$195	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09544	−0.097%	$132K	$212K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09555	+0.018%	$139K	$0	10x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09545	−0.088%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0249%	1h	0.09563	+0.102%	$194K	$495K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09548	−0.055%	$1.7M	$923K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0808%	1h	0.09535	−0.192%	$64K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2740%	1h	0.09574	+0.212%	$540K	$939K	10x	as long as short