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: Nado against Pacifica−0.050%7-day average −0.033% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

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

Long on Pacifica Short on Nado

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)+0.942%+$94 · spread now −0.050%, 7d avg −0.033%

Together, before fees+0.943%+ Points / potential airdropPacifica: Active · Nado: Active · farm board+$94 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica XPL	0.09709	0.0100	pay 0.0013% / 1h	47m 27s	$221K	$47K	10x
Short	Nado XPL-PERP	0.09704	0.0100	get 0.0012% / 1h	47m 27s	$1.2M	$2.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Pacifica. 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 PacificabpFee NadobpOrdersPrice spread, now −0.050%Rate

Funding earned: $0
Price spread: −0.050% → −0.033%: −$1.74
Slippage, 4 orders: −$48.62
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$65.36
Costs to cover: 0.636%
Break-even: never at this rate

Slippage from Pacifica: live order book, 21 min ago; Nado: live order book, 1 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 Pacifica live order book, 21 min ago	5.04 bp	23.4 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 1 min ago	0.52 bp	7.0 bp −$7	19.4 bp −$194	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	−0.0264%	1h	0.09711	+0.022%	$565	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0186% / S +0.0554%	1h	0.09708	−0.006%	$112K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0100%	1h	0.09699	−0.102%	$179K	$242K	10x	as long as short
Lighter XPL	−0.0072%	1h	0.09701	−0.081%	$4.4M	$4.2M	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09716	+0.068%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.022%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09692	−0.174%	$46K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09708	−0.009%	$78K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0007%	4h	0.09699	−0.102%	$29K	$335K	10x	as long as short
OKX XPL-USDT-SWAP	+0.0050%	4h	0.09691	−0.184%	$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	+0.0053%	8h	0.09718	+0.096%	$13K	$2K	5x	as long as short
Nado XPL-PERPshort	+0.0100%	1h	0.09704	−0.050%	$1.2M	$2.8M	10x
Hyperliquid XPL	+0.0100%	1h	0.09722	+0.135%	$62.9M	$47.9M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09719	+0.100%	$247K	$555K	20x	as long as short
Pacifica XPLlong	+0.0100%	1h	0.09709	long leg	$221K	$47K	10x
Binance XPLUSDT	+0.0100%	4h	0.09705	−0.038%	$44.2M	$110.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09701	−0.081%	$46.8M	$58.0M	75x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09704	−0.050%	$3.0M	$3.8M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09709	+0.001%	$12.9M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09716	+0.073%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09712	+0.032%	$8.6M	$11.4M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09703	−0.061%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09693	−0.164%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09719	+0.102%	$265K	$858K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09720	+0.114%	$25K	$89K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09719	+0.103%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09700	−0.092%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09690	−0.195%	$200	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09701	−0.081%	$142K	$255K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09710	+0.015%	$141K	$7K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09709	+0.004%	$650K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09685	−0.246%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0328%	1h	0.09643	−0.679%	$195K	$657K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09706	−0.030%	$1.8M	$1.1M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0496%	1h	0.09746	+0.382%	$80K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4395%	1h	0.09733	+0.249%	$551K	$1.0M	10x	as long as short