Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Variational Omni against Gate−0.038%7-day average −0.006% · you buy dearer than you sell

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

Long on Gate Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.014%+$1 on $10k

Price spread, last 7 days+0.021%+$2 · spread now −0.038%, 7d avg −0.006%

Together, before fees+0.035%+ Points / potential airdropVariational Omni: Active · farm board+$4 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 0.033% cheaper against Gate than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XPL_USDT	0.09697	0.0100	pay 0.0050% / 4h	1h 30m	$3.0M	$4.0M	75x
Short	Variational Omni XPL	0.09693	0.0100	get 0.0050% / 4h	1h 30m	$1.7M	$1.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Gate. 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 GatebpFee Variational OmnibpOrdersPrice spread, now −0.038%Rate

Funding earned: $0
Price spread: −0.038% → −0.006%: −$3.25
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$18.25
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 3 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 Gate live order book, 3 min ago	4.11 bp	24.1 bp −$24	151.1 bp −$1,511	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	4.13 bp	doesn't fit	49.6 bp −$496	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	−0.0382%	1h	0.09691	−0.062%	$176K	$281K	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0266%	1h	0.09691	−0.062%	$46K	$18K	25x	as long as short
Lighter XPL	−0.0216%	1h	0.09683	−0.144%	$4.4M	$4.1M	10x	as long as short
01 Exchange XPLUSD	−0.0216%	1h	0.09703	+0.062%	$564	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0106% / S +0.0503%	1h	0.09708	+0.112%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09701	+0.040%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−21.931%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09709	+0.121%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0075%	4h	0.09703	+0.062%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0087%	8h	0.09699	+0.021%	$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	0.09699	+0.026%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09714	+0.173%	$62.9M	$47.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09705	+0.079%	$251K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09703	+0.063%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09706	+0.093%	$43.7M	$106.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09706	+0.093%	$47.1M	$54.1M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09704	+0.072%	$8.8M	$53.5M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09688	−0.091%	$141K	$10K	10x	as long as short
Gate XPL_USDTlong	+0.0100%	4h	0.09697	long leg	$3.0M	$4.0M	75x
MEXC XPL_USDT	+0.0100%	4h	0.09700	+0.031%	$12.6M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09703	+0.062%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09710	+0.134%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09705	+0.082%	—	$7.9M	—	as long as short
Variational Omni XPLshort	+0.0100%	4h	0.09693	−0.038%	$1.7M	$1.9M	—
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09687	−0.099%	$260K	$777K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09730	+0.340%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09708	+0.109%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09670	−0.278%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09690	−0.072%	$446	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09708	+0.113%	$138K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09696	−0.007%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09710	+0.134%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09692	−0.052%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09723	+0.268%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09760	+0.650%	$72K	$104K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4605%	1h	0.09749	+0.539%	$521K	$963K	10x	as long as short