Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against MEXC+0.052%7-day average +0.010% · you sell dearer than you buy

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

Long on MEXC 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−0.054%−$5 · spread now +0.052%, 7d avg +0.010%

Together, before fees−0.054%+ Points / potential airdropVariational Omni: Active · farm board−$5 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 0.041% dearer against MEXC than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XPL_USDT	0.09688	0.0100	pay 0.0050% / 4h	2h 46m	$12.9M	$7.9M	100x
Short	Variational Omni XPL	0.09693	0.0100	get 0.0050% / 4h	2h 46m	$1.7M	$1.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against MEXC. 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 MEXCbpFee Variational OmnibpOrdersPrice spread, now +0.052%Rate

Funding earned: $0
Price spread: +0.052% → +0.010%: $4.14
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $4.14
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: MEXC: live order book, 7 min ago; Variational Omni: RFQ quote, 2 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 MEXC live order book, 7 min ago	0.52 bp	2.8 bp −$3	6.6 bp −$66	84.2 bp −$8,415	222.4 bp −$111.2K
Sell Variational Omni RFQ quote, 2 min ago	4.13 bp	doesn't fit	53.7 bp −$537	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
01 Exchange XPLUSD	−0.0264%	1h	0.09711	+0.237%	$565	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0186% / S +0.0554%	1h	0.09708	+0.210%	$112K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0099%	1h	0.09707	+0.196%	$179K	$243K	10x	as long as short
Lighter XPL	−0.0056%	1h	0.09680	−0.083%	$4.4M	$4.2M	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09686	−0.016%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.854%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09692	+0.041%	$46K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09708	+0.207%	$78K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0007%	4h	0.09699	+0.114%	$29K	$335K	10x	as long as short
OKX XPL-USDT-SWAP	+0.0050%	4h	0.09685	−0.031%	$8.4M	$55.9M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPL-USD-PERP	+0.0054%	8h	0.09688	0.000%	$13K	$2K	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09704	+0.165%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09714	+0.264%	$62.9M	$47.9M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09707	+0.197%	$247K	$555K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09688	+0.005%	$220K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09682	−0.059%	$44.1M	$110.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09680	−0.083%	$46.7M	$58.0M	75x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09702	+0.145%	$3.0M	$3.8M	75x	as long as short
MEXC XPL_USDTlong	+0.0100%	4h	0.09688	long leg	$12.9M	$7.9M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09688	0.000%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09687	−0.010%	$8.5M	$11.4M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09684	−0.041%	—	$8.0M	—	as long as short
Variational Omni XPLshort	+0.0100%	4h	0.09693	+0.052%	$1.7M	$1.9M	—
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09719	+0.318%	$265K	$858K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09720	+0.330%	$25K	$89K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09719	+0.319%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09680	−0.083%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09700	+0.124%	$200	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09708	+0.206%	$142K	$255K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09710	+0.230%	$141K	$7K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09682	−0.067%	$650K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09685	−0.036%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0328%	1h	0.09643	−0.464%	$195K	$657K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09706	+0.186%	$1.8M	$1.1M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0496%	1h	0.09746	+0.599%	$80K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4394%	1h	0.09735	+0.483%	$551K	$1.0M	10x	as long as short