Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: Variational Omni against Nado−0.050%57s7-day average −0.048% · you buy dearer than you sell

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

Long on Nado Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.003%$0 on $10k

Price spread, last 7 days−0.039%−$4 · spread now −0.050%, 7d avg −0.048%

Together, before fees−0.036%+ Points / potential airdropNado: Active · Variational Omni: Active · farm board−$4 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado XPL-PERP	0.09673	0.0100	pay 0.0012% / 1h	25m 36s	$1.2M	$2.4M	10x
Short	Variational Omni XPL	0.09668	0.0100	get 0.0050% / 4h	3h 25m	$1.7M	$1.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.050%Rate

Funding earned: $0
Price spread: −0.050% → −0.048%: −$0.14
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$7.14
Costs to cover: 0.070%
Break-even: 733823295805913.4 days

Slippage unknown: Nado: live order book, 3 min ago; 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 Nado live order book, 3 min ago	1.03 bp	8.0 bp −$8	19.2 bp −$192	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	4.13 bp	doesn't fit	33.0 bp −$330	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	−0.0368%	1h	0.09659	−0.140%	$562	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0304% / S +0.0610%	1h	0.09674	+0.020%	$107K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0085%	1h	0.09672	−0.005%	$176K	$188K	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0060%	1h	0.09672	−0.005%	$46K	$18K	25x	as long as short
Bybit XPLUSDT	−0.0011%	4h	0.09663	−0.098%	$45.8M	$54.1M	75x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09670	−0.024%	$9K	$585	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.729%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09674	+0.019%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0012%	4h	0.09668	−0.047%	$29K	$339K	10x	as long as short
Paradex XPL-USD-PERP	+0.0059%	8h	0.09662	−0.105%	$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
Lighter XPL	+0.0096%	1h	0.09659	−0.140%	$4.4M	$3.0M	10x	as long as short
Nado XPL-PERPlong	+0.0100%	1h	0.09673	long leg	$1.2M	$2.4M	10x
Hyperliquid XPL	+0.0100%	1h	0.09681	+0.090%	$61.4M	$46.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09672	−0.006%	$252K	$422K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09670	−0.023%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09663	−0.098%	$43.9M	$101.0M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09664	−0.088%	$8.2M	$48.7M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09672	−0.005%	$3.1M	$3.5M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09662	−0.109%	$12.7M	$7.0M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09663	−0.098%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09674	+0.016%	$9.0M	$9.6M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09662	−0.109%	—	$7.8M	—	as long as short
Variational Omni XPLshort	+0.0100%	4h	0.09668	−0.050%	$1.7M	$1.9M	—
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09690	+0.180%	$262K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09730	+0.594%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09680	+0.082%	$129K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09650	−0.233%	$2K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09670	−0.026%	$204	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09688	+0.160%	$142K	$189K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09680	+0.078%	$141K	$5K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09661	−0.116%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09667	−0.052%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09705	+0.336%	$196K	$573K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09675	+0.026%	$1.7M	$963K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0640%	1h	0.09722	+0.512%	$75K	$76K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3104%	1h	0.09702	+0.305%	$552K	$990K	10x	as long as short