Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Pacifica against Variational Omni+0.049%7-day average −0.006% · you sell dearer than you buy

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

Long on Variational Omni Short on Pacifica

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 4 days (all we have)−1.388%−$139 · spread now +0.049%, 7d avg −0.006%

Together, before fees−1.385%+ Points / potential airdropVariational Omni: Active · Pacifica: Active · farm board−$139 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: Pacifica is 0.055% dearer against Variational Omni than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XPL	0.09612	0.0100	pay 0.0050% / 4h	1h 35m	$1.7M	$1.8M	—
Short	Pacifica XPL	0.09616	0.0100	get 0.0013% / 1h	35m 15s	$219K	$48K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.049%Rate

Funding earned: $0
Price spread: +0.049% → −0.006%: $5.46
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$2.54
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Pacifica: live order book, 28 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	4.18 bp	doesn't fit	37.6 bp −$376	doesn't fit	doesn't fit
Sell Pacifica live order book, 28 min ago	10.35 bp	20.4 bp −$20	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
Backpack XPL_USDC_PERP	−0.0521%	1h	0.09627	+0.160%	$181K	$243K	10x	as long as short
01 Exchange XPLUSD	−0.0440%	1h	0.09611	−0.007%	$559	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0251% / S +0.0578%	1h	0.09630	+0.195%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0165%	1h	0.09628	+0.170%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	−0.0005%	4h	0.09624	+0.129%	$29K	$335K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09611	−0.006%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.233%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09630	+0.193%	$73K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0037%	4h	0.09624	+0.129%	$8.3M	$53.1M	50x	as long as short
Paradex XPL-USD-PERP	+0.0056%	8h	0.09615	+0.036%	$12K	$2K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate XPL_USDT	+0.0066%	4h	0.09623	+0.118%	$3.0M	$3.7M	75x	as long as short
Bybit XPLUSDT	+0.0068%	4h	0.09617	+0.056%	$45.6M	$56.7M	75x	as long as short
Lighter XPL	+0.0080%	1h	0.09621	+0.098%	$4.4M	$4.2M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09620	+0.087%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09639	+0.290%	$60.6M	$48.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09630	+0.194%	$245K	$501K	20x	as long as short
Pacifica XPLshort	+0.0100%	1h	0.09616	+0.049%	$219K	$48K	10x
Binance XPLUSDT	+0.0100%	4h	0.09631	+0.201%	$43.5M	$108.7M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09625	+0.139%	$12.4M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09623	+0.118%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09631	+0.202%	$8.5M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09621	+0.098%	—	$8.0M	—	as long as short
Variational Omni XPLlong	+0.0100%	4h	0.09612	long leg	$1.7M	$1.8M	—
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09596	−0.159%	$255K	$912K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09610	−0.017%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09634	+0.229%	$128K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09610	−0.017%	$3K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09630	+0.191%	$2K	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09601	−0.111%	$144K	$264K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09615	+0.035%	$140K	$7K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09623	+0.122%	$633K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09625	+0.139%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09617	+0.056%	$195K	$629K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09625	+0.139%	$1.7M	$1.0M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0672%	1h	0.09640	+0.295%	$74K	$93K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3559%	1h	0.09659	+0.496%	$548K	$1.0M	10x	as long as short