Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Variational Omni against ApeX Omni−0.247%73s7-day average — · you buy dearer than you sell

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

Long on ApeX Omni Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.247% cheaper against ApeX Omni than usual: you would sell low and buy high, −$25 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 73 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni XPLUSDT	0.09350	0.0100	pay 0.0013% / 1h	8m 21s	$24K	$56K	50x
Short	Variational Omni XPL	0.09327	0.0100	get 0.0050% / 4h	8m 21s	$1.8M	$1.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against ApeX 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 ApeX OmnibpFee Variational OmnibpOrdersPrice spread, now −0.247%Rate

Funding earned: $0
Price spread: −0.247% → 0.000%: −$24.67
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$34.67
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: ApeX Omni: no order-book sample; Variational Omni: RFQ quote, 4 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 ApeX Omni no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 4 min ago	3.75 bp	doesn't fit	56.3 bp −$563	doesn't fit	doesn't fit

ApeX Omni: 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 exchanges

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 −0.0575% / S +0.0769%	1h	0.09330	−0.209%	$103K	—	100x	as long as short
01 Exchange XPLUSD	−0.0472%	1h	0.09315	−0.374%	$542	$832	5x	as long as short
Bybit XPLUSDT	−0.0469%	4h	0.09321	−0.310%	$43.3M	$50.4M	75x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0393%	1h	0.09326	−0.257%	$47K	$14K	25x	as long as short
Lighter XPL	−0.0272%	1h	0.09318	−0.342%	$4.2M	$2.5M	10x	as long as short
Orderly PERP_XPL_USDC	−0.0156%	4h	0.09322	−0.299%	$29K	$89K	10x	as long as short
Polymarket Perps XPL-USD	−0.0156%	1h	0.09326	−0.255%	$35K	$925K	10x	as long as short
Paradex XPL-USD-PERP	−0.0073%	8h	0.09325	−0.270%	$12K	$696	5x	as long as short
Binance XPLUSDT	−0.0048%	4h	0.09325	−0.267%	$43.0M	$87.1M	75x	as long as short
MEXC XPL_USDT	−0.0046%	4h	0.09323	−0.289%	$12.3M	$6.7M	100x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX XPL-USD	0.0000%	1h	0.09339	−0.116%	$9K	$1K	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−19.030%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09332	−0.190%	$70K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0033%	4h	0.09326	−0.257%	$7.3M	$42.1M	50x	as long as short
Gate XPL_USDT	+0.0040%	4h	0.09327	−0.246%	$2.8M	$2.7M	75x	as long as short
Nado XPL-PERP	+0.0054%	1h	0.09342	−0.080%	$983K	$2.3M	10x	as long as short
Aevo XPL-PERP	+0.0072%	1h	0.09311	−0.413%	$28K	$18K	3x	as long as short
Extended XPL-USD	+0.0080%	1h	0.09322	−0.299%	$596K	$1.1M	25x	as long as short
Aster XPLUSDT	+0.0084%	4h	0.09332	−0.189%	$241K	$335K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09335	−0.164%	$208K	$49K	10x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09350	−0.005%	$136K	$5K	10x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09328	−0.235%	$2.2M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09335	−0.160%	$8.8M	$8.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09326	−0.257%	—	$7.6M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09341	−0.096%	$179K	$154K	10x	as long as short
Variational Omni XPLshort	+0.0100%	4h	0.09327	−0.247%	$1.8M	$1.8M	—
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09338	−0.124%	$250K	$1.3M	10x	as long as short
ApeX Omni XPLUSDTlong	+0.0100%	1h	0.09350	long leg	$24K	$56K	50x
SunX XPL-USDT	+0.0100%	4h	0.09310	−0.428%	$3K	$1.2M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09320	−0.321%	$99	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09346	−0.043%	$131K	$165K	20x	as long as short
Hyperliquid XPL	+0.0149%	1h	0.09345	−0.056%	$59.8M	$38.1M	10x	as long as short
Phoenix XPL	+0.0170%	1h	0.09367	+0.182%	$190K	$435K	10x	as long as short
BloFin XPL-USDT	+0.0191%	4h	0.09345	−0.053%	$1.7M	$768K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0608%	1h	0.09455	+1.123%	$63K	$83K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.1201%	1h	0.09353	+0.028%	$552K	$970K	10x	as long as short