Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Aster against Variational Omni+1.043%7-day average +0.002% · you sell dearer than you buy

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

Long on Variational Omni Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 4 days (all we have)−3.009%−$301 · spread now +1.043%, 7d avg +0.002%

Together, before fees−3.009%+ Points / potential airdropVariational Omni: Active · Aster: Stage 5 · farm board−$301 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: Aster is 1.041% dearer against Variational Omni than usual: you sell high and buy low, +$104 on $10k if it goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XPL	0.09520	0.0100	pay 0.0050% / 4h	32m 59s	$1.7M	$1.9M	—
Short	Aster XPLUSDT	0.09619	0.0100	get 0.0050% / 4h	32m 59s	$242K	$460K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster 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 AsterbpOrdersPrice spread, now +1.043%Rate

Funding earned: $0
Price spread: +1.043% → +0.002%: $104.11
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: $96.11
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Aster: live order book, 24 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 Variational Omni RFQ quote, 1 min ago	4.19 bp	doesn't fit	59.7 bp −$597	doesn't fit	doesn't fit
Sell Aster live order book, 24 min ago	4.70 bp	17.7 bp −$18	129.6 bp −$1,296	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	−0.0392%	1h	0.09583	+0.664%	$557	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0303% / S +0.0609%	1h	0.09613	+0.979%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0166%	1h	0.09616	+1.010%	$46K	$18K	25x	as long as short
Bybit XPLUSDT	−0.0117%	4h	0.09619	+1.042%	$45.5M	$54.7M	75x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09572	+0.551%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.475%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09611	+0.961%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0011%	4h	0.09610	+0.947%	$29K	$339K	10x	as long as short
Paradex XPL-USD-PERP	+0.0077%	8h	0.09584	+0.672%	$12K	$2K	5x	as long as short
Backpack XPL_USDC_PERP	+0.0087%	1h	0.09634	+1.199%	$179K	$221K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPL	+0.0096%	1h	0.09615	+1.000%	$4.4M	$3.3M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09597	+0.811%	$1.2M	$2.7M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09642	+1.287%	$60.7M	$46.8M	10x	as long as short
Aster XPLUSDTshort	+0.0100%	4h	0.09619	+1.043%	$242K	$460K	20x
Pacifica XPL	+0.0100%	1h	0.09580	+0.635%	$219K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09623	+1.088%	$43.7M	$103.0M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09626	+1.115%	$8.3M	$49.5M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09550	+0.317%	$139K	$5K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09617	+1.021%	$3.0M	$3.6M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09622	+1.073%	$12.4M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09616	+1.010%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09618	+1.031%	$8.6M	$10.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09626	+1.115%	—	$7.9M	—	as long as short
Variational Omni XPLlong	+0.0100%	4h	0.09520	long leg	$1.7M	$1.9M	—
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09551	+0.326%	$259K	$975K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09570	+0.527%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09607	+0.916%	$128K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09590	+0.737%	$2K	$1.8M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09630	+1.157%	$193	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09543	+0.243%	$140K	$209K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09614	+0.990%	$649K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09615	+1.000%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0334%	1h	0.09585	+0.685%	$194K	$617K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09619	+1.042%	$1.7M	$983K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0616%	1h	0.09571	+0.537%	$74K	$86K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3304%	1h	0.09655	+1.420%	$547K	$975K	10x	as long as short