Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Pacifica against Variational Omni−0.419%7-day average +0.012% · you buy dearer than you sell

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

Long on Variational Omni Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.001%$0 on $10k

Price spread, last 5 days (all we have)−1.553%−$155 · spread now −0.419%, 7d avg +0.012%

Together, before fees−1.552%+ Points / potential airdropVariational Omni: Active · Pacifica: Active · farm board−$155 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: Pacifica is 0.431% cheaper against Variational Omni than usual: you would sell low and buy high, −$43 on $10k if it goes back to its 7-day average of +0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XPL	0.09383	0.0100	pay 0.0050% / 4h	2h 18m	$2.1M	$2.1M	—
Short	Pacifica XPL	0.09344	0.0100	get 0.0013% / 1h	18m 36s	$200K	$35K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.419%Rate

Funding earned: $0
Price spread: −0.419% → +0.012%: −$43.15
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$51.15
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Pacifica: live order book, 37 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, 4 min ago	4.26 bp	doesn't fit	63.9 bp −$639	doesn't fit	doesn't fit
Sell Pacifica live order book, 37 min ago	5.33 bp	33.8 bp −$34	doesn't fit	doesn't fit	doesn't fit

XPL on 36 exchanges

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	−0.0391%	1h	0.09356	−0.286%	$46K	$4K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0275% / S +0.0620%	1h	0.09362	−0.222%	$111K	—	100x	as long as short
01 Exchange XPLUSD	−0.0104%	1h	0.09365	−0.190%	$544	$297	5x	as long as short
Coinbase International XPL-PERP-INTX	−0.0064%	1h	0.09436	+0.567%	$59K	$95K	50x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09351	−0.335%	$9K	$1K	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−19.314%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S +0.0001%	1h	0.09366	−0.178%	$30K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0024%	4h	0.09352	−0.329%	$30K	$53K	10x	as long as short
Paradex XPL-USD-PERP	+0.0093%	8h	0.09336	−0.498%	$12K	—	5x	as long as short
Lighter XPL	+0.0096%	1h	0.09339	−0.467%	$4.2M	$1.6M	10x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XPL-PERP	+0.0100%	1h	0.09361	−0.235%	$1.2M	$1.8M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09344	−0.414%	$236K	$251K	20x	as long as short
Pacifica XPLshort	+0.0100%	1h	0.09344	−0.419%	$200K	$35K	10x
Binance XPLUSDT	+0.0100%	4h	0.09335	−0.510%	$43.7M	$74.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09335	−0.510%	$42.9M	$41.9M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09336	−0.499%	$7.4M	$39.8M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09393	+0.111%	$137K	$3K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09344	−0.414%	$2.8M	$2.2M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09339	−0.467%	$14.4M	$4.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09344	−0.414%	$2.0M	$1.1M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09344	−0.414%	$8.9M	$7.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09339	−0.467%	—	$8.1M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09355	−0.297%	$163K	$150K	10x	as long as short
Variational Omni XPLlong	+0.0100%	4h	0.09383	long leg	$2.1M	$2.1M	—
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09390	+0.076%	$255K	$703K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09400	+0.183%	$37K	$62K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09362	−0.219%	$31K	$369K	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09330	−0.563%	$3K	$931K	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09350	−0.350%	$101	$8K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09394	+0.119%	$134K	$217K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09337	−0.487%	$647K	$907K	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09350	−0.350%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0257%	1h	0.09418	+0.375%	$202K	$115K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09350	−0.350%	$1.9M	$805K	75x	as long as short
Hyperliquid XPL	+0.0341%	1h	0.09355	−0.297%	$63.0M	$28.0M	10x	as long as short
Kraken Futures PF_XPLUSD	+0.0899%	1h	0.09370	−0.139%	$554K	$466K	10x	as long as short