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: SoDEX against Variational Omni−0.145%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SoDEX is 0.145% cheaper against Variational Omni than usual: you would sell low and buy high, −$15 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XPL	0.09764	0.0100	pay 0.0050% / 4h	2h 33m	$1.7M	$1.9M	—
Short	SoDEX XPL-USD	0.09750	0.0100	get 0.0013% / 1h	33m 55s	$207	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.145%Rate

Funding earned: $0
Price spread: −0.145% → 0.000%: −$14.5
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$22.5
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, just now; SoDEX: no order-book sample. 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, just now	4.61 bp	doesn't fit	86.6 bp −$866	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Lighter XPL	−0.0112%	1h	0.09743	−0.217%	$4.4M	$4.3M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0075% / S +0.0482%	1h	0.09755	−0.097%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09764	0.000%	$8K	—	5x	as long as short
01 Exchange XPLUSD	0.0000%	1h	0.09760	−0.043%	$567	$582	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.466%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09757	−0.073%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09756	−0.084%	$72K	—	150x	as long as short
Backpack XPL_USDC_PERP	+0.0025%	1h	0.09757	−0.073%	$178K	$283K	10x	as long as short
Orderly PERP_XPL_USDC	+0.0083%	4h	0.09752	−0.125%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0094%	8h	0.09762	−0.019%	$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	0.09760	−0.037%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09765	+0.006%	$62.7M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09758	−0.063%	$252K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09767	+0.030%	$221K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09749	−0.155%	$44.1M	$104.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09748	−0.165%	$47.5M	$53.3M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09744	−0.206%	$9.0M	$53.0M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09822	+0.597%	$142K	$11K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09747	−0.176%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09741	−0.237%	$12.7M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09744	−0.206%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09745	−0.196%	$8.6M	$11.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09746	−0.186%	—	$7.9M	—	as long as short
Variational Omni XPLlong	+0.0100%	4h	0.09764	long leg	$1.7M	$1.9M	—
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09763	−0.013%	$264K	$786K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09780	+0.162%	$25K	$86K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09766	+0.014%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09740	−0.247%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USDshort	+0.0100%	1h	0.09750	−0.145%	$207	$10K	10x
HTX XPL-USDT	+0.0100%	4h	0.09764	−0.002%	$138K	$245K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09740	−0.248%	$658K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09759	−0.053%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09769	+0.050%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09766	+0.019%	$197K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09844	+0.818%	$74K	$105K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3486%	1h	0.09810	+0.474%	$516K	$940K	10x	as long as short