Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: HTX against Variational Omni−0.081%7-day average +0.011% · you buy dearer than you sell

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

Long on Variational Omni Short on HTX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.046%+$5 · spread now −0.081%, 7d avg +0.011%

Together, before fees+0.046%+ Points / potential airdropVariational Omni: Active · farm board+$5 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: HTX is 0.092% cheaper against Variational Omni than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XPL	0.09615	0.0100	pay 0.0050% / 4h	1h 00m	$1.7M	$2.0M	—
Short	HTX XPL-USDT	0.09607	0.0100	get 0.0050% / 4h	1h 00m	$133K	$213K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Variational Omni. 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 Variational OmnibpFee HTXbpOrdersPrice spread, now −0.081%Rate

Funding earned: $0
Price spread: −0.081% → +0.011%: −$9.23
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$21.23
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; HTX: live order book, 41 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 Variational Omni RFQ quote, 4 min ago	4.15 bp	doesn't fit	74.7 bp −$747	doesn't fit	doesn't fit
Sell HTX live order book, 41 min ago	13.03 bp	74.0 bp −$74	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
Lighter XPL	−0.1152%	1h	0.09605	−0.102%	$4.3M	$3.2M	10x	as long as short
01 Exchange XPLUSD	−0.0320%	1h	0.09616	+0.012%	$559	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09625	+0.109%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0269%	1h	0.09622	+0.075%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	−0.0009%	4h	0.09618	+0.033%	$30K	$246K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09630	+0.153%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.258%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09627	+0.126%	$73K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0047%	8h	0.09615	+0.004%	$12K	$696	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09617	+0.028%	$1.3M	$2.2M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid XPL	+0.0100%	1h	0.09641	+0.271%	$60.9M	$46.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09631	+0.163%	$254K	$420K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09624	+0.096%	$220K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09622	+0.075%	$43.8M	$97.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09622	+0.075%	$45.9M	$53.4M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09620	+0.054%	$7.8M	$47.9M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09614	−0.008%	$140K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09620	+0.054%	$3.0M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09621	+0.064%	$12.6M	$6.8M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09619	+0.044%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09630	+0.158%	$9.0M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09619	+0.044%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09622	+0.075%	$180K	$187K	10x	as long as short
Variational Omni XPLlong	+0.0100%	4h	0.09615	long leg	$1.7M	$2.0M	—
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09617	+0.025%	$262K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09650	+0.366%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09632	+0.175%	$126K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09600	−0.154%	$2K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09620	+0.054%	$196	$9K	10x	as long as short
HTX XPL-USDTshort	+0.0100%	4h	0.09607	−0.081%	$133K	$213K	20x
Extended XPL-USD	+0.0104%	1h	0.09618	+0.037%	$604K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09620	+0.054%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09660	+0.470%	$196K	$506K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09618	+0.033%	$1.7M	$934K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.09718	+1.073%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2836%	1h	0.09654	+0.407%	$548K	$932K	10x	as long as short