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: MEXC against Variational Omni−0.049%7-day average −0.010% · you buy dearer than you sell

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

Long on Variational Omni Short on MEXC

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 7 days+0.058%+$6 · spread now −0.049%, 7d avg −0.010%

Together, before fees+0.058%+ Points / potential airdropVariational Omni: Active · farm board+$6 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: MEXC is 0.039% cheaper against Variational Omni than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XPL	0.09668	0.0100	pay 0.0050% / 4h	3h 26m	$1.7M	$1.9M	—
Short	MEXC XPL_USDT	0.09663	0.0100	get 0.0050% / 4h	3h 26m	$12.7M	$7.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.049%Rate

Funding earned: $0
Price spread: −0.049% → −0.010%: −$3.88
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee MEXC: 0 bp × 2 orders: $0
Net: −$3.88
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; MEXC: live order book, 2 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, 3 min ago	4.13 bp	doesn't fit	64.0 bp −$640	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	0.52 bp	2.3 bp −$2	7.1 bp −$71	83.8 bp −$8,383	232.1 bp −$116.1K

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	0.09660	−0.080%	$562	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0304% / S +0.0610%	1h	0.09674	+0.069%	$107K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0085%	1h	0.09672	+0.044%	$176K	$188K	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0060%	1h	0.09672	+0.044%	$46K	$18K	25x	as long as short
Bybit XPLUSDT	−0.0011%	4h	0.09663	−0.049%	$45.8M	$54.1M	75x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09679	+0.119%	$9K	$585	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.690%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09674	+0.068%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0012%	4h	0.09668	+0.003%	$29K	$339K	10x	as long as short
Paradex XPL-USD-PERP	+0.0060%	8h	0.09672	+0.047%	$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	0.09663	−0.049%	$4.4M	$3.0M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09673	+0.050%	$1.2M	$2.4M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09682	+0.146%	$61.4M	$46.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09674	+0.067%	$252K	$422K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09677	+0.098%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09663	−0.049%	$43.9M	$100.9M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09664	−0.038%	$8.2M	$48.7M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09673	+0.055%	$3.1M	$3.5M	75x	as long as short
MEXC XPL_USDTshort	+0.0100%	4h	0.09663	−0.049%	$12.7M	$7.0M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09663	−0.049%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09674	+0.065%	$9.0M	$9.6M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09664	−0.038%	—	$7.8M	—	as long as short
Variational Omni XPLlong	+0.0100%	4h	0.09668	long leg	$1.7M	$1.9M	—
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09690	+0.229%	$262K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09730	+0.644%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09680	+0.131%	$129K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09650	−0.183%	$2K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09670	+0.024%	$204	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09688	+0.210%	$142K	$189K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09680	+0.127%	$141K	$5K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09662	−0.057%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09667	−0.002%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09705	+0.386%	$196K	$573K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09675	+0.075%	$1.7M	$963K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0640%	1h	0.09722	+0.562%	$75K	$76K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3104%	1h	0.09702	+0.355%	$552K	$990K	10x	as long as short