Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.001%

Price spread now: Pacifica against Nado+0.328%7-day average +0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$640.636% of the position

Long on Nado Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.001%$0 on $10k

Price spread, last 4 days (all we have)−1.219%−$122 · spread now +0.328%, 7d avg +0.033%

Together, before fees−1.220%+ Points / potential airdropNado: Active · Pacifica: Active · farm board−$122 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: Pacifica is 0.295% dearer against Nado than usual: you sell high and buy low, +$29 on $10k if it goes back to its 7-day average of +0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado XPL-PERP	0.09683	0.0100	pay 0.0012% / 1h	48m 07s	$1.2M	$2.8M	10x
Short	Pacifica XPL	0.09714	0.0100	get 0.0013% / 1h	48m 07s	$221K	$47K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Nado. 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 NadobpFee PacificabpOrdersPrice spread, now +0.328%Rate

Funding earned: $0
Price spread: +0.328% → +0.033%: $29.49
Slippage, 4 orders: −$48.62
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$34.13
Costs to cover: 0.636%
Break-even: 3506190506392903.0 days

Slippage from Nado: live order book, 1 min ago; Pacifica: live order book, 20 min ago.

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 Nado live order book, 1 min ago	0.52 bp	9.3 bp −$9	27.3 bp −$273	doesn't fit	doesn't fit
Sell Pacifica live order book, 20 min ago	5.04 bp	23.9 bp −$24	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
01 Exchange XPLUSD	−0.0280%	1h	0.09689	+0.065%	$563	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0186% / S +0.0554%	1h	0.09687	+0.046%	$111K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0100%	1h	0.09699	+0.168%	$179K	$242K	10x	as long as short
Lighter XPL	−0.0072%	1h	0.09686	+0.034%	$4.4M	$4.2M	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09715	+0.328%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.812%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09692	+0.096%	$46K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09688	+0.050%	$77K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0006%	4h	0.09687	+0.044%	$29K	$335K	10x	as long as short
OKX XPL-USDT-SWAP	+0.0051%	4h	0.09700	+0.178%	$8.4M	$55.9M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPL-USD-PERP	+0.0052%	8h	0.09702	+0.196%	$13K	$2K	5x	as long as short
Nado XPL-PERPlong	+0.0100%	1h	0.09683	long leg	$1.2M	$2.8M	10x
Hyperliquid XPL	+0.0100%	1h	0.09718	+0.363%	$62.9M	$47.8M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09686	+0.030%	$246K	$555K	20x	as long as short
Pacifica XPLshort	+0.0100%	1h	0.09714	+0.328%	$221K	$47K	10x
Binance XPLUSDT	+0.0100%	4h	0.09698	+0.157%	$44.2M	$110.6M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09696	+0.137%	$46.8M	$58.0M	75x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09706	+0.240%	$3.0M	$3.8M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09697	+0.147%	$12.9M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09688	+0.054%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09704	+0.219%	$8.6M	$11.4M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09699	+0.168%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09693	+0.106%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09693	+0.110%	$265K	$858K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09710	+0.281%	$25K	$89K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09698	+0.153%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09700	+0.178%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09690	+0.075%	$200	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09701	+0.188%	$142K	$255K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09755	+0.746%	$142K	$2K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09689	+0.060%	$650K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09685	+0.023%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0328%	1h	0.09643	−0.411%	$195K	$657K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09706	+0.240%	$1.8M	$1.1M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0496%	1h	0.09746	+0.653%	$80K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4395%	1h	0.09733	+0.520%	$551K	$1.0M	10x	as long as short