Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Variational Omni against Aevo+0.037%7-day average — · you sell dearer than you buy

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

Long on Aevo Short on Variational Omni

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: Variational Omni is 0.037% dearer against Aevo than usual: you sell high and buy low, +$4 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	Aevo XPL-PERP	0.09690	0.0104	pay 0.0013% / 1h	25m 40s	$38K	$5K	3x
Short	Variational Omni XPL	0.09693	0.0100	get 0.0050% / 4h	1h 25m	$1.7M	$1.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Aevo. 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 AevobpFee Variational OmnibpOrdersPrice spread, now +0.037%Rate

Funding earned: −$0.84
Price spread: +0.037% → 0.000%: $3.7
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$13.14
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Variational Omni: RFQ quote, 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 Aevo no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 3 min ago	4.12 bp	doesn't fit	68.0 bp −$680	doesn't fit	doesn't fit

Aevo: 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
Backpack XPL_USDC_PERP	−0.0366%	1h	0.09698	+0.086%	$176K	$281K	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0266%	1h	0.09689	−0.007%	$46K	$18K	25x	as long as short
Lighter XPL	−0.0224%	1h	0.09739	+0.509%	$4.4M	$4.1M	10x	as long as short
01 Exchange XPLUSD	−0.0216%	1h	0.09680	−0.100%	$563	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0108% / S +0.0504%	1h	0.09693	+0.030%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09763	+0.758%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−21.872%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09694	+0.040%	$71K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0073%	4h	0.09686	−0.038%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0082%	8h	0.09748	+0.602%	$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	0.09685	−0.049%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09767	+0.797%	$63.1M	$47.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09754	+0.662%	$252K	$526K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09766	+0.788%	$222K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09765	+0.777%	$44.0M	$106.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09770	+0.829%	$48.0M	$54.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09765	+0.777%	$8.9M	$54.0M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09688	−0.016%	$141K	$10K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09764	+0.767%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09762	+0.746%	$12.7M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09752	+0.643%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09770	+0.829%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09760	+0.726%	—	$7.9M	—	as long as short
Variational Omni XPLshort	+0.0100%	4h	0.09693	+0.037%	$1.7M	$1.9M	—
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09720	+0.313%	$259K	$787K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09730	+0.416%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09697	+0.071%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09670	−0.203%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09680	−0.100%	$445	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09713	+0.240%	$138K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09763	+0.754%	$660K	$1.1M	25x	as long as short
Aevo XPL-PERPlong	+0.0104%	1h	0.09690	long leg	$38K	$5K	3x
BloFin XPL-USDT	+0.0340%	4h	0.09691	+0.013%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09712	+0.230%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09760	+0.726%	$72K	$104K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4609%	1h	0.09739	+0.513%	$559K	$989K	10x	as long as short