Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: SunX against Variational Omni−0.112%7-day average −0.143% · you buy dearer than you sell

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

Long on Variational Omni Short on SunX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.009%−$1 · spread now −0.112%, 7d avg −0.143%

Together, before fees−0.009%+ Points / potential airdropVariational Omni: Active · farm board−$1 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: SunX is 0.031% dearer against Variational Omni than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.143%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XPL	0.09571	0.0100	pay 0.0050% / 4h	52m 39s	$1.7M	$2.0M	—
Short	SunX XPL-USDT	0.09560	0.0100	get 0.0050% / 4h	52m 39s	$3K	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.112%Rate

Funding earned: $0
Price spread: −0.112% → −0.143%: $3.11
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$4.89
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; SunX: live order book, 13 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	4.17 bp	doesn't fit	48.0 bp −$480	doesn't fit	doesn't fit
Sell SunX live order book, 13 min ago	31.18 bp	139.0 bp −$139	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
Lighter XPL	−0.1424%	1h	0.09568	−0.029%	$4.3M	$3.1M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0481%	1h	0.09573	+0.024%	$46K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0480%	1h	0.09571	+0.003%	$556	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09577	+0.064%	$106K	—	100x	as long as short
Orderly PERP_XPL_USDC	−0.0012%	4h	0.09568	−0.029%	$30K	$246K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09590	+0.206%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.897%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09578	+0.078%	$72K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0027%	8h	0.09579	+0.087%	$12K	$696	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09585	+0.149%	$1.2M	$2.2M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid XPL	+0.0100%	1h	0.09600	+0.305%	$60.7M	$46.0M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09591	+0.213%	$253K	$419K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09588	+0.176%	$219K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09579	+0.087%	$43.4M	$97.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09572	+0.013%	$45.6M	$53.5M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09578	+0.076%	$7.8M	$47.7M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09614	+0.452%	$140K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09585	+0.149%	$3.0M	$3.3M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09581	+0.107%	$12.5M	$6.5M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09592	+0.222%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09587	+0.170%	$9.0M	$9.8M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09576	+0.055%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09580	+0.097%	$179K	$188K	10x	as long as short
Variational Omni XPLlong	+0.0100%	4h	0.09571	long leg	$1.7M	$2.0M	—
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09591	+0.207%	$255K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09600	+0.306%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09588	+0.184%	$126K	$1.8M	10x	as long as short
SunX XPL-USDTshort	+0.0100%	4h	0.09560	−0.112%	$3K	$1.6M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09570	−0.008%	$191	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09574	+0.034%	$132K	$213K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09577	+0.066%	$604K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09570	−0.008%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0249%	1h	0.09595	+0.254%	$194K	$495K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09579	+0.086%	$1.7M	$931K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0808%	1h	0.09718	+1.539%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2729%	1h	0.09613	+0.441%	$546K	$932K	10x	as long as short