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: KuCoin against Variational Omni−0.199%7-day average +0.001% · you buy dearer than you sell

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

Long on Variational Omni Short on KuCoin

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 7 days+0.216%+$22 · spread now −0.199%, 7d avg +0.001%

Together, before fees+0.216%+ Points / potential airdropVariational Omni: Active · farm board+$22 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: KuCoin is 0.200% cheaper against Variational Omni than usual: you would sell low and buy high, −$20 on $10k if it goes back to its 7-day average of +0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XPL	0.09747	0.0100	pay 0.0050% / 4h	1h 38m	$1.7M	$1.9M	—
Short	KuCoin XPLUSDTM	0.09728	0.0100	get 0.0050% / 4h	1h 38m	$2.4M	$1.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 KuCoinbpOrdersPrice spread, now −0.199%Rate

Funding earned: $0
Price spread: −0.199% → +0.001%: −$20.02
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$32.02
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; KuCoin: live order book, 3 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	4.10 bp	doesn't fit	62.5 bp −$625	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	9.75 bp	29.4 bp −$29	164.2 bp −$1,642	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
Backpack XPL_USDC_PERP	−0.0307%	1h	0.09729	−0.189%	$177K	$281K	10x	as long as short
01 Exchange XPLUSD	−0.0200%	1h	0.09741	−0.065%	$566	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0161%	1h	0.09726	−0.219%	$47K	$18K	25x	as long as short
Lighter XPL	−0.0136%	1h	0.09712	−0.363%	$4.4M	$4.1M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0102% / S +0.0500%	1h	0.09741	−0.071%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09739	−0.087%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.333%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09740	−0.073%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0078%	4h	0.09734	−0.137%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0090%	8h	0.09740	−0.080%	$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	0.09743	−0.040%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09756	+0.092%	$62.9M	$47.5M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09744	−0.037%	$252K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09743	−0.043%	$222K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09719	−0.289%	$43.7M	$106.3M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09722	−0.260%	$47.3M	$54.0M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09721	−0.271%	$8.9M	$53.4M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09750	+0.025%	$140K	$8K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09737	−0.106%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09722	−0.260%	$12.6M	$7.6M	100x	as long as short
KuCoin XPLUSDTMshort	+0.0100%	4h	0.09728	−0.199%	$2.4M	$1.4M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09729	−0.189%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09720	−0.281%	—	$7.9M	—	as long as short
Variational Omni XPLlong	+0.0100%	4h	0.09747	long leg	$1.7M	$1.9M	—
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09730	−0.174%	$261K	$789K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09740	−0.076%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09752	+0.043%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09720	−0.281%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09730	−0.178%	$448	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09743	−0.045%	$138K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09726	−0.217%	$660K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09727	−0.213%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09752	+0.047%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09744	−0.035%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09760	+0.129%	$72K	$104K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4597%	1h	0.09765	+0.182%	$514K	$953K	10x	as long as short