Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Aevo against Variational Omni−0.649%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Aevo

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 airdropVariational Omni: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aevo is 0.649% cheaper against Variational Omni than usual: you would sell low and buy high, −$65 on $10k if it 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	Variational Omni XPL	0.09767	0.0100	pay 0.0050% / 4h	1h 51m	$1.7M	$1.9M	—
Short	Aevo XPL-PERP	0.09704	0.0104	get 0.0013% / 1h	51m 47s	$38K	$5K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Variational Omni. 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 Variational OmnibpFee AevobpOrdersPrice spread, now −0.649%Rate

Funding earned: $0.84
Price spread: −0.649% → 0.000%: −$64.88
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$80.04
Costs to cover: 0.160%
Break-even: 674.0 days

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Aevo: no order-book sample. 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 Variational Omni RFQ quote, 2 min ago	4.10 bp	doesn't fit	78.8 bp −$788	doesn't fit	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: 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
Lighter XPL	−0.0176%	1h	0.09686	−0.831%	$4.4M	$4.1M	10x	as long as short
Backpack XPL_USDC_PERP	−0.0168%	1h	0.09703	−0.657%	$177K	$281K	10x	as long as short
01 Exchange XPLUSD	−0.0152%	1h	0.09713	−0.555%	$565	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0095% / S +0.0496%	1h	0.09704	−0.644%	$112K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0059%	1h	0.09703	−0.657%	$47K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09719	−0.498%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.488%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09704	−0.642%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0080%	4h	0.09700	−0.688%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0090%	8h	0.09713	−0.553%	$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	0.09720	−0.486%	$1.4M	$2.7M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09715	−0.530%	$62.6M	$47.4M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09705	−0.636%	$251K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09720	−0.483%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09698	−0.708%	$43.6M	$105.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09703	−0.657%	$47.3M	$53.9M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09695	−0.739%	$8.9M	$53.2M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09700	−0.686%	$140K	$10K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09697	−0.718%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09697	−0.718%	$12.5M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09704	−0.647%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09705	−0.637%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09699	−0.698%	—	$7.9M	—	as long as short
Variational Omni XPLlong	+0.0100%	4h	0.09767	long leg	$1.7M	$1.9M	—
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09760	−0.074%	$264K	$775K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09790	+0.234%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09727	−0.415%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09700	−0.688%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09700	−0.688%	$201	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09715	−0.534%	$138K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09698	−0.708%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERPshort	+0.0104%	1h	0.09704	−0.649%	$38K	$5K	3x
BloFin XPL-USDT	+0.0340%	4h	0.09726	−0.422%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09726	−0.422%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09794	+0.275%	$74K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4604%	1h	0.09750	−0.179%	$513K	$952K	10x	as long as short