Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: Nado against Variational Omni−0.515%7-day average +0.018% · you buy dearer than you sell

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

Long on Variational Omni 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)+0.317%+$32 · spread now −0.515%, 7d avg +0.018%

Together, before fees+0.316%+ Points / potential airdropVariational Omni: Active · Nado: Active · farm board+$32 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: Nado is 0.534% cheaper against Variational Omni than usual: you would sell low and buy high, −$53 on $10k if it goes back to its 7-day average of +0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XPL	0.09670	0.0100	pay 0.0050% / 4h	1h 56m	$1.7M	$1.8M	—
Short	Nado XPL-PERP	0.09620	0.0100	get 0.0012% / 1h	56m 42s	$1.2M	$2.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 NadobpOrdersPrice spread, now −0.515%Rate

Funding earned: $0
Price spread: −0.515% → +0.018%: −$53.35
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$60.35
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Nado: 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, 2 min ago	4.14 bp	doesn't fit	69.4 bp −$694	doesn't fit	doesn't fit
Sell Nado live order book, 2 min ago	0.52 bp	6.9 bp −$7	14.6 bp −$146	doesn't fit	doesn't fit

XPL on 35 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
Backpack XPL_USDC_PERP	−0.0886%	1h	0.09620	−0.515%	$178K	$242K	10x	as long as short
01 Exchange XPLUSD	−0.0408%	1h	0.09671	+0.012%	$562	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0373%	1h	0.09617	−0.546%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0211% / S +0.0571%	1h	0.09627	−0.448%	$111K	—	100x	as long as short
Lighter XPL	−0.0080%	1h	0.09670	+0.002%	$4.4M	$4.2M	10x	as long as short
Orderly PERP_XPL_USDC	−0.0001%	4h	0.09623	−0.484%	$29K	$335K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09674	+0.047%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.709%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09626	−0.454%	$59K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0035%	4h	0.09675	+0.054%	$8.3M	$53.3M	50x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPL-USD-PERP	+0.0043%	8h	0.09683	+0.132%	$13K	$2K	5x	as long as short
Nado XPL-PERPshort	+0.0100%	1h	0.09620	−0.515%	$1.2M	$2.8M	10x
Hyperliquid XPL	+0.0100%	1h	0.09674	+0.043%	$61.4M	$47.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09647	−0.235%	$246K	$499K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09673	+0.037%	$220K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09678	+0.084%	$43.9M	$107.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09672	+0.023%	$46.5M	$55.7M	75x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09676	+0.064%	$3.0M	$3.7M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09677	+0.074%	$12.6M	$7.8M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09653	−0.174%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09682	+0.126%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09674	+0.043%	—	$7.9M	—	as long as short
Variational Omni XPLlong	+0.0100%	4h	0.09670	long leg	$1.7M	$1.8M	—
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09656	−0.141%	$259K	$900K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09670	+0.002%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09628	−0.433%	$131K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09600	−0.722%	$2K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09610	−0.619%	$195	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09620	−0.515%	$143K	$250K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09660	−0.101%	$141K	$7K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09674	+0.045%	$651K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09621	−0.508%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0328%	1h	0.09667	−0.029%	$196K	$620K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0672%	1h	0.09766	+0.995%	$78K	$94K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3559%	1h	0.09659	−0.116%	$548K	$1.0M	10x	as long as short