Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: SoDEX against Variational Omni−0.009%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XPL	0.09621	0.0100	pay 0.0050% / 4h	1h 50m	$1.7M	$1.9M	—
Short	SoDEX XPL-USD	0.09620	0.0100	get 0.0013% / 1h	50m 41s	$198	$9K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.009%Rate

Funding earned: $0
Price spread: −0.009% → 0.000%: −$0.95
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$8.95
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; SoDEX: no order-book sample. 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	4.15 bp	doesn't fit	77.8 bp −$778	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0568%	1h	0.09613	−0.082%	$4.3M	$3.1M	10x	as long as short
01 Exchange XPLUSD	−0.0456%	1h	0.09629	+0.084%	$560	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09626	+0.057%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0269%	1h	0.09620	−0.009%	$46K	$18K	25x	as long as short
Backpack XPL_USDC_PERP	−0.0071%	1h	0.09632	+0.115%	$178K	$190K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09628	+0.077%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.308%	—	—	—	as long as short
Orderly PERP_XPL_USDC	+0.0003%	4h	0.09617	−0.041%	$30K	$280K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09626	+0.052%	$73K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0052%	8h	0.09628	+0.071%	$13K	$696	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XPL-PERP	+0.0100%	1h	0.09622	+0.011%	$1.2M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09637	+0.163%	$60.9M	$46.3M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09632	+0.113%	$254K	$415K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09630	+0.094%	$220K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09624	+0.032%	$43.6M	$97.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09625	+0.042%	$45.6M	$53.6M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09624	+0.032%	$8.0M	$48.2M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09620	−0.009%	$140K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09625	+0.042%	$3.0M	$3.3M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09625	+0.042%	$12.6M	$6.8M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09626	+0.053%	$2.3M	$1.3M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09635	+0.146%	$8.9M	$9.5M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09628	+0.074%	—	$7.8M	—	as long as short
Variational Omni XPLlong	+0.0100%	4h	0.09621	long leg	$1.7M	$1.9M	—
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09624	+0.035%	$255K	$1.2M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09630	+0.094%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09630	+0.094%	$126K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09590	−0.321%	$2K	$1.6M	20x	as long as short
SoDEX XPL-USDshort	+0.0100%	1h	0.09620	−0.009%	$198	$9K	10x
HTX XPL-USDT	+0.0100%	4h	0.09612	−0.093%	$133K	$215K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09622	+0.016%	$606K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09615	−0.061%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09625	+0.042%	$195K	$506K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09605	−0.165%	$1.7M	$937K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.09718	+1.009%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2834%	1h	0.09660	+0.405%	$549K	$954K	10x	as long as short