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 −0.020%

Price spread now: GRVT against Variational Omni+0.523%104s7-day average −0.014% · you sell dearer than you buy

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

Long on Variational Omni Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.020%−$2 on $10k

Price spread, last 3 days (all we have)−0.430%−$43 · spread now +0.523%, 7d avg −0.014%

Together, before fees−0.450%+ Points / potential airdropVariational Omni: Active · GRVT: Active · farm board−$45 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: GRVT is 0.537% dearer against Variational Omni than usual: you sell high and buy low, +$54 on $10k if it goes back to its 7-day average of −0.014%. The two prices were read 104 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	Variational Omni XPL	0.09695	0.0100	pay 0.0050% / 4h	2h 55m	$1.7M	$1.9M	—
Short	GRVT XPL_USDT_Perp	0.09746	0.0100	get 0.0050% / 4h	2h 55m	$259K	$844K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.523%Rate

Funding earned: $0
Price spread: +0.523% → −0.014%: $53.72
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $44.72
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; GRVT: live order book, 12 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, 3 min ago	4.10 bp	doesn't fit	63.6 bp −$636	doesn't fit	doesn't fit
Sell GRVT live order book, 12 min ago	5.05 bp	53.5 bp −$54	237.4 bp −$2,374	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
Deribit XPL_USDC-PERPETUAL	−0.0472%	1h	0.09691	−0.041%	$46K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0264%	1h	0.09718	+0.237%	$565	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0182% / S +0.0552%	1h	0.09705	+0.099%	$111K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09703	+0.083%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.912%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09704	+0.088%	$58K	—	150x	as long as short
Lighter XPL	+0.0008%	1h	0.09690	−0.052%	$4.4M	$4.1M	10x	as long as short
Orderly PERP_XPL_USDC	+0.0012%	4h	0.09689	−0.062%	$29K	$335K	10x	as long as short
OKX XPL-USDT-SWAP	+0.0046%	4h	0.09708	+0.134%	$8.6M	$55.4M	50x	as long as short
Paradex XPL-USD-PERP	+0.0049%	8h	0.09706	+0.109%	$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	0.09710	+0.152%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09711	+0.164%	$62.9M	$47.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09706	+0.112%	$256K	$552K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09705	+0.104%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09700	+0.056%	$44.3M	$109.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09707	+0.124%	$47.1M	$56.6M	75x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09700	+0.052%	$3.0M	$3.8M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09700	+0.052%	$12.9M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09699	+0.041%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09707	+0.124%	$8.7M	$11.2M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09706	+0.113%	—	$8.0M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09686	−0.093%	$182K	$237K	10x	as long as short
Variational Omni XPLlong	+0.0100%	4h	0.09695	long leg	$1.7M	$1.9M	—
GRVT XPL_USDT_Perpshort	+0.0100%	4h	0.09746	+0.523%	$259K	$844K	10x
ApeX Omni XPLUSDT	+0.0100%	1h	0.09780	+0.877%	$25K	$89K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09718	+0.239%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09680	−0.155%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09690	−0.052%	$487	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09703	+0.083%	$141K	$247K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09755	+0.619%	$142K	$2K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09703	+0.080%	$656K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09684	−0.119%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09794	+1.021%	$198K	$657K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09751	+0.578%	$1.8M	$1.1M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0496%	1h	0.09776	+0.836%	$77K	$100K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4392%	1h	0.09740	+0.460%	$563K	$1.0M	10x	as long as short