Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against Binance−0.102%7-day average +0.014% · you buy dearer than you sell

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

Long on Binance Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 7 days+0.086%+$9 · spread now −0.102%, 7d avg +0.014%

Together, before fees+0.086%+ Points / potential airdropVariational Omni: Active · farm board+$9 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: Variational Omni is 0.116% cheaper against Binance than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of +0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XPLUSDT	0.09810	0.0100	pay 0.0050% / 4h	49m 33s	$44.5M	$107.7M	75x
Short	Variational Omni XPL	0.09800	0.0100	get 0.0050% / 4h	49m 33s	$1.7M	$1.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Binance. 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 BinancebpFee Variational OmnibpOrdersPrice spread, now −0.102%Rate

Funding earned: $0
Price spread: −0.102% → +0.014%: −$11.59
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$21.59
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 8 min ago; Variational Omni: RFQ quote, 5 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 Binance live order book, 8 min ago	0.51 bp	10.4 bp −$10	22.8 bp −$228	124.0 bp −$12.4K	doesn't fit
Sell Variational Omni RFQ quote, 5 min ago	4.08 bp	doesn't fit	59.1 bp −$591	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
Lighter XPL	−0.0352%	1h	0.09794	−0.166%	$4.4M	$4.1M	10x	as long as short
01 Exchange XPLUSD	−0.0240%	1h	0.09811	+0.007%	$570	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0125% / S +0.0515%	1h	0.09810	+0.002%	$113K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0056%	1h	0.09808	−0.024%	$47K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09809	−0.016%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.831%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09810	−0.001%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0064%	4h	0.09804	−0.064%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0082%	8h	0.09804	−0.061%	$13K	$2K	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09805	−0.054%	$1.4M	$2.6M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid XPL	+0.0100%	1h	0.09822	+0.116%	$63.5M	$47.9M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09814	+0.034%	$254K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09812	+0.013%	$223K	$46K	10x	as long as short
Binance XPLUSDTlong	+0.0100%	4h	0.09810	long leg	$44.5M	$107.7M	75x
Bybit XPLUSDT	+0.0100%	4h	0.09803	−0.075%	$48.1M	$55.0M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09801	−0.095%	$8.9M	$54.5M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09804	−0.064%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09804	−0.064%	$12.8M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09811	+0.007%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09817	+0.068%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09805	−0.054%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09811	+0.007%	$178K	$279K	10x	as long as short
Variational Omni XPLshort	+0.0100%	4h	0.09800	−0.102%	$1.7M	$1.9M	—
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09798	−0.130%	$262K	$796K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09820	+0.099%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09817	+0.067%	$131K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09790	−0.207%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09800	−0.105%	$451	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09801	−0.095%	$139K	$246K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09800	−0.106%	$143K	$9K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09805	−0.057%	$660K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09806	−0.049%	$38K	$5K	3x	as long as short
Phoenix XPL	+0.0327%	1h	0.09824	+0.140%	$199K	$651K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09799	−0.115%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0568%	1h	0.09825	+0.150%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5066%	1h	0.09855	+0.455%	$567K	$1.0M	10x	as long as short