Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against Aster−0.204%7-day average 0.000% · you buy dearer than you sell

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

Long on Aster Short on Variational Omni

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 4 days (all we have)+1.546%+$155 · spread now −0.204%, 7d avg 0.000%

Together, before fees+1.546%+ Points / potential airdropAster: Stage 5 · Variational Omni: 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: Variational Omni is 0.203% cheaper against Aster than usual: you would sell low and buy high, −$20 on $10k if it goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster XPLUSDT	0.09631	0.0100	pay 0.0050% / 4h	1h 34m	$245K	$501K	20x
Short	Variational Omni XPL	0.09612	0.0100	get 0.0050% / 4h	1h 34m	$1.7M	$1.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Aster. 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 AsterbpFee Variational OmnibpOrdersPrice spread, now −0.204%Rate

Funding earned: $0
Price spread: −0.204% → 0.000%: −$20.33
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$28.33
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 28 min ago; Variational Omni: RFQ quote, 4 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 Aster live order book, 28 min ago	5.17 bp	23.5 bp −$23	157.5 bp −$1,575	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	4.18 bp	doesn't fit	74.2 bp −$742	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	−0.0521%	1h	0.09627	−0.044%	$181K	$243K	10x	as long as short
01 Exchange XPLUSD	−0.0440%	1h	0.09611	−0.210%	$559	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0251% / S +0.0578%	1h	0.09630	−0.009%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0165%	1h	0.09628	−0.034%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	−0.0005%	4h	0.09624	−0.075%	$29K	$335K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09611	−0.209%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.394%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09630	−0.011%	$73K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0037%	4h	0.09598	−0.345%	$8.3M	$52.9M	50x	as long as short
Paradex XPL-USD-PERP	+0.0056%	8h	0.09615	−0.167%	$12K	$2K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate XPL_USDT	+0.0066%	4h	0.09608	−0.241%	$3.0M	$3.8M	75x	as long as short
Bybit XPLUSDT	+0.0068%	4h	0.09590	−0.428%	$45.4M	$56.8M	75x	as long as short
Lighter XPL	+0.0080%	1h	0.09621	−0.106%	$4.4M	$4.2M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09620	−0.117%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09614	−0.183%	$60.4M	$48.1M	10x	as long as short
Aster XPLUSDTlong	+0.0100%	4h	0.09631	long leg	$245K	$501K	20x
Pacifica XPL	+0.0100%	1h	0.09616	−0.155%	$219K	$48K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09606	−0.258%	$43.4M	$108.7M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09610	−0.220%	$12.4M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09623	−0.086%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09603	−0.293%	$8.5M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09595	−0.376%	—	$8.0M	—	as long as short
Variational Omni XPLshort	+0.0100%	4h	0.09612	−0.204%	$1.7M	$1.8M	—
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09596	−0.362%	$255K	$912K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09610	−0.220%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09634	+0.025%	$128K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09610	−0.220%	$3K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09630	−0.013%	$2K	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09601	−0.314%	$144K	$264K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09615	−0.169%	$140K	$7K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09621	−0.108%	$633K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09625	−0.065%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09617	−0.148%	$195K	$629K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09625	−0.065%	$1.7M	$1.0M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0672%	1h	0.09640	+0.091%	$74K	$93K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3559%	1h	0.09659	+0.292%	$548K	$1.0M	10x	as long as short