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: HTX against Variational Omni+0.172%7-day average +0.003% · you sell dearer than you buy

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

Long on Variational Omni Short on HTX

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 3 days (all we have)−0.207%−$21 · spread now +0.172%, 7d avg +0.003%

Together, before fees−0.207%+ Points / potential airdropVariational Omni: Active · farm board−$21 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: HTX is 0.169% dearer against Variational Omni than usual: you sell high and buy low, +$17 on $10k if it goes back to its 7-day average of +0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XPL	0.09912	0.0100	pay 0.0050% / 4h	3h 14m	$1.8M	$2.0M	—
Short	HTX XPL-USDT	0.09929	0.0100	get 0.0050% / 4h	3h 14m	$144K	$243K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.172%Rate

Funding earned: $0
Price spread: +0.172% → +0.003%: $16.93
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: $4.93
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; HTX: live order book, 57 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	4.05 bp	doesn't fit	93.1 bp −$931	doesn't fit	doesn't fit
Sell HTX live order book, 57 min ago	0.51 bp	37.8 bp −$38	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
01 Exchange XPLUSD	−0.0192%	1h	0.09914	+0.021%	$576	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0172% / S +0.0546%	1h	0.09940	+0.287%	$114K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0052%	1h	0.09937	+0.253%	$48K	$18K	25x	as long as short
Lighter XPL	0.0000%	1h	0.09930	+0.182%	$4.5M	$4.2M	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09923	+0.110%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−23.622%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09938	+0.263%	$78K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0020%	4h	0.09932	+0.202%	$30K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0045%	8h	0.09919	+0.074%	$13K	$2K	5x	as long as short
OKX XPL-USDT-SWAP	+0.0092%	4h	0.09906	−0.060%	$8.8M	$56.2M	50x	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	0.09920	+0.084%	$1.5M	$2.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09947	+0.354%	$257K	$536K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09920	+0.081%	$226K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09939	+0.277%	$45.5M	$108.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09940	+0.283%	$48.3M	$56.1M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09870	−0.423%	$144K	$2K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09941	+0.293%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09939	+0.273%	$13.2M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09942	+0.303%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09949	+0.374%	$9.0M	$11.2M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09942	+0.303%	—	$8.0M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09946	+0.343%	$187K	$253K	10x	as long as short
Variational Omni XPLlong	+0.0100%	4h	0.09912	long leg	$1.8M	$2.0M	—
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09914	+0.021%	$263K	$844K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09910	−0.020%	$26K	$89K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09936	+0.238%	$133K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09910	−0.020%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09930	+0.182%	$499	$11K	10x	as long as short
HTX XPL-USDTshort	+0.0100%	4h	0.09929	+0.172%	$144K	$243K	20x
Extended XPL-USD	+0.0104%	1h	0.09931	+0.195%	$673K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09940	+0.287%	$30K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09918	+0.061%	$201K	$655K	10x	as long as short
Hyperliquid XPL	+0.0195%	1h	0.09960	+0.488%	$64.6M	$47.1M	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09929	+0.172%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09980	+0.686%	$74K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4983%	1h	0.09984	+0.732%	$577K	$1.0M	10x	as long as short