Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC0.0000%/8hnext payment +$0.00 per $10,000 · paid last 24h −0.001%

Price spread now: Pacifica against Nado−0.021%50s7-day average +0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$700.702% of the position

Long on Nado Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.001%$0 on $10k

Price spread, last 3 days (all we have)−0.870%−$87 · spread now −0.021%, 7d avg +0.037%

Together, before fees−0.871%+ Points / potential airdropNado: Active · Pacifica: Active · farm board−$87 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: Pacifica is 0.058% cheaper against Nado than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.037%. The two prices were read 50 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	Nado XPL-PERP	0.1007	0.0100	pay 0.0012% / 1h	5m 35s	$1.4M	$2.6M	10x
Short	Pacifica XPL	0.1007	0.0100	get 0.0013% / 1h	5m 35s	$228K	$14K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Nado. 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 NadobpFee PacificabpOrdersPrice spread, now −0.021%Rate

Funding earned: $0
Price spread: −0.021% → +0.037%: −$5.78
Slippage, 4 orders: −$55.24
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$76.02
Costs to cover: 0.702%
Break-even: 761966100195871.5 days

Slippage from Nado: live order book, 3 min ago; Pacifica: live order book, 26 min ago.

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 Nado live order book, 3 min ago	1.99 bp	11.2 bp −$11	28.1 bp −$281	doesn't fit	doesn't fit
Sell Pacifica live order book, 26 min ago	10.09 bp	37.2 bp −$37	doesn't fit	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
Deribit XPL_USDC-PERPETUAL	−0.0247%	1h	0.1006	−0.109%	$50K	$17K	25x	as long as short
Backpack XPL_USDC_PERP	−0.0165%	1h	0.1007	−0.020%	$186K	$281K	10x	as long as short
Lighter XPL	−0.0160%	1h	0.1005	−0.169%	$4.6M	$4.3M	10x	as long as short
01 Exchange XPLUSD	−0.0128%	1h	0.1006	−0.060%	$585	$582	5x	as long as short
dYdX XPL-USD	0.0000%	1h	0.1007	+0.015%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−24.814%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.1006	−0.060%	$74K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0064%	4h	0.1006	−0.139%	$28K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0098%	8h	0.1006	−0.058%	$13K	$2K	5x	as long as short
Nado XPL-PERPlong	+0.0100%	1h	0.1007	long leg	$1.4M	$2.6M	10x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid XPL	+0.0100%	1h	0.1009	+0.169%	$66.5M	$44.4M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.1007	+0.020%	$264K	$509K	20x	as long as short
Pacifica XPLshort	+0.0100%	1h	0.1007	−0.021%	$228K	$14K	10x
Binance XPLUSDT	+0.0100%	4h	0.1006	−0.089%	$45.9M	$101.2M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.1006	−0.079%	$49.3M	$50.3M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.1006	−0.099%	$9.6M	$53.5M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.1002	−0.438%	$142K	$55K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.1006	−0.089%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.1006	−0.099%	$14.0M	$7.5M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.1007	−0.020%	$2.5M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.1006	−0.089%	$8.8M	$10.9M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.1006	−0.119%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.1006	−0.115%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.1006	−0.097%	$275K	$681K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.1006	−0.089%	$26K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.1007	+0.030%	$137K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.1004	−0.288%	$3K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.1005	−0.189%	$212	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.1007	−0.020%	$143K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.1006	−0.116%	$728K	$979K	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.1006	−0.082%	$39K	$5K	3x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L +0.0208% / S +0.0037%	1h	0.1006	−0.079%	$141K	—	100x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.1005	−0.189%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0404%	1h	0.1004	−0.268%	$205K	$627K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0880%	1h	0.1013	+0.606%	$77K	$120K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2783%	1h	0.1009	+0.229%	$298K	$700K	10x	as long as short