Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.049%

Price spread now: 01 Exchange against Variational Omni+0.082%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on 01 Exchange

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

The price spread pays, funding is against you. 01 Exchange is 0.082% dearer against Variational Omni than usual: you sell high and buy low (spread +0.082% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 30 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XPL	0.09825	0.0100	pay 0.0050% / 4h	3h 31m	$1.7M	$1.9M	—
Short	01 Exchange XPLUSD	0.09833	−0.0120	pay 0.0015% / 1h	31m 53s	$572	$708	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.082%Rate

Funding earned: −$46.2
Price spread: +0.082% → 0.000%: $8.17
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$45.03
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; 01 Exchange: 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, 2 min ago	4.57 bp	doesn't fit	64.5 bp −$645	doesn't fit	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: 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
GMX XPL/USD [WBTC.b-USDC]	L −0.0163% / S +0.0540%	1h	0.09842	+0.172%	$113K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0120%	1h	0.09851	+0.265%	$184K	$273K	10x	as long as short
01 Exchange XPLUSDshort	−0.0120%	1h	0.09833	+0.082%	$572	$708	5x
Lighter XPL	−0.0080%	1h	0.09827	+0.021%	$4.4M	$4.2M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0055%	1h	0.09835	+0.102%	$47K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09841	+0.162%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.947%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09840	+0.153%	$77K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0030%	4h	0.09834	+0.092%	$30K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0045%	8h	0.09835	+0.098%	$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
Nado XPL-PERP	+0.0100%	1h	0.09838	+0.133%	$1.5M	$2.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09838	+0.137%	$254K	$534K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09843	+0.186%	$224K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09862	+0.377%	$45.0M	$108.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09866	+0.418%	$47.9M	$55.7M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09860	+0.356%	$8.7M	$55.9M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09765	−0.608%	$142K	$2K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09850	+0.255%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09859	+0.346%	$13.0M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09861	+0.367%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09868	+0.438%	$8.8M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09861	+0.367%	—	$7.9M	—	as long as short
Variational Omni XPLlong	+0.0100%	4h	0.09825	long leg	$1.7M	$1.9M	—
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09827	+0.024%	$260K	$840K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09820	−0.051%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09846	+0.216%	$132K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09820	−0.051%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09840	+0.153%	$203	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09841	+0.163%	$143K	$243K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09858	+0.341%	$666K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09835	+0.106%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09844	+0.194%	$199K	$655K	10x	as long as short
Hyperliquid XPL	+0.0268%	1h	0.09864	+0.398%	$63.9M	$47.3M	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09832	+0.071%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09864	+0.397%	$73K	$96K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5030%	1h	0.09889	+0.657%	$572K	$1.0M	10x	as long as short