Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Gate against Variational Omni+0.057%7-day average +0.006% · you sell dearer than you buy

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

Long on Variational Omni Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.014%−$1 on $10k

Price spread, last 7 days−0.062%−$6 · spread now +0.057%, 7d avg +0.006%

Together, before fees−0.076%+ Points / potential airdropVariational Omni: Active · farm board−$8 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: Gate is 0.051% dearer against Variational Omni than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XPL	0.09959	0.0100	pay 0.0050% / 4h	3h 29m	$1.7M	$1.9M	—
Short	Gate XPL_USDT	0.09965	0.0100	get 0.0050% / 4h	3h 29m	$3.1M	$4.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.057%Rate

Funding earned: $0
Price spread: +0.057% → +0.006%: $5.06
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$9.94
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Gate: live order book, 4 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, 5 min ago	4.99 bp	doesn't fit	64.9 bp −$649	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	3.52 bp	26.9 bp −$27	139.3 bp −$1,393	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
dYdX XPL-USD	0.0000%	1h	0.09963	+0.037%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−23.982%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09966	+0.067%	$50K	$17K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09964	+0.047%	$73K	—	150x	as long as short
01 Exchange XPLUSD	+0.0072%	1h	0.09980	+0.207%	$580	$582	5x	as long as short
Backpack XPL_USDC_PERP	+0.0073%	1h	0.09963	+0.037%	$186K	$286K	10x	as long as short
Orderly PERP_XPL_USDC	+0.0076%	4h	0.09962	+0.027%	$28K	$333K	10x	as long as short
Lighter XPL	+0.0096%	1h	0.09957	−0.024%	$4.5M	$4.2M	10x	as long as short
Paradex XPL-USD-PERP	+0.0098%	8h	0.09973	+0.135%	$13K	$2K	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09970	+0.107%	$1.4M	$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	0.09965	+0.060%	$262K	$509K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09969	+0.098%	$226K	$17K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09962	+0.027%	$45.5M	$102.1M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09956	−0.034%	$48.3M	$51.3M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09958	−0.014%	$9.5M	$53.3M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09980	+0.207%	$144K	$11K	10x	as long as short
Gate XPL_USDTshort	+0.0100%	4h	0.09965	+0.057%	$3.1M	$4.0M	75x
MEXC XPL_USDT	+0.0100%	4h	0.09961	+0.017%	$13.7M	$7.5M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09954	−0.054%	$2.5M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09965	+0.057%	$8.7M	$11.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09958	−0.014%	—	$7.9M	—	as long as short
Variational Omni XPLlong	+0.0100%	4h	0.09959	long leg	$1.7M	$1.9M	—
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09974	+0.149%	$270K	$720K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09980	+0.207%	$26K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09983	+0.240%	$135K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09960	+0.007%	$3K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09960	+0.007%	$207	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09960	+0.007%	$141K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09959	−0.003%	$720K	$983K	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09965	+0.060%	$39K	$5K	3x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L +0.0204% / S +0.0037%	1h	0.09961	+0.013%	$140K	—	100x	as long as short
Phoenix XPL	+0.0318%	1h	0.09985	+0.258%	$204K	$640K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09961	+0.017%	$1.8M	$1.2M	75x	as long as short
Hyperliquid XPL	+0.0593%	1h	0.09974	+0.149%	$66.0M	$44.8M	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.1013	+1.713%	$77K	$108K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3350%	1h	0.1001	+0.465%	$298K	$704K	10x	as long as short