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 +0.001%

Price spread now: Nado against Pacifica−0.073%7-day average +0.022% · 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−$88as in the Price arb table

costs, in and out, $10k−$790.785% of the position

Long on Pacifica Short on Nado

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 4 days (all we have)+2.085%+$209 · spread now −0.073%, 7d avg +0.022%

Together, before fees+2.087%+ Points / potential airdropPacifica: Active · Nado: Active · farm board+$209 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: Nado is 0.095% cheaper against Pacifica than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica XPL	0.09558	0.0100	pay 0.0013% / 1h	42m 08s	$218K	$46K	10x
Short	Nado XPL-PERP	0.09551	0.0100	get 0.0013% / 1h	42m 08s	$1.2M	$2.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Pacifica. 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 PacificabpFee NadobpOrdersPrice spread, now −0.073%Rate

Funding earned: $0
Price spread: −0.073% → +0.022%: −$9.51
Slippage, 4 orders: −$63.51
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$88.03
Costs to cover: 0.785%
Break-even: never at this rate

Slippage from Pacifica: live order book, 16 min ago; Nado: live order book, 2 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 Pacifica live order book, 16 min ago	15.70 bp	23.0 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 2 min ago	1.57 bp	7.2 bp −$7	17.8 bp −$178	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	−0.0336%	1h	0.09539	−0.199%	$555	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0295% / S +0.0605%	1h	0.09556	−0.019%	$105K	—	100x	as long as short
Bybit XPLUSDT	−0.0093%	4h	0.09546	−0.126%	$45.2M	$55.2M	75x	as long as short
Backpack XPL_USDC_PERP	−0.0027%	1h	0.09558	0.000%	$178K	$225K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09558	−0.003%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.792%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09554	−0.042%	$46K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09558	−0.005%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0006%	4h	0.09551	−0.073%	$29K	$339K	10x	as long as short
Paradex XPL-USD-PERP	+0.0074%	8h	0.09550	−0.080%	$12K	$2K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPL	+0.0096%	1h	0.09546	−0.126%	$4.3M	$3.3M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09570	+0.120%	$59.9M	$47.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09556	−0.025%	$240K	$485K	20x	as long as short
Pacifica XPLlong	+0.0100%	1h	0.09558	long leg	$218K	$46K	10x
Binance XPLUSDT	+0.0100%	4h	0.09555	−0.031%	$43.3M	$103.3M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09552	−0.063%	$8.2M	$49.3M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09530	−0.293%	$139K	$5K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09552	−0.063%	$3.0M	$3.6M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09553	−0.052%	$12.3M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09559	+0.010%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09561	+0.031%	$8.5M	$10.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09554	−0.042%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09536	−0.233%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09530	−0.293%	$253K	$955K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09520	−0.398%	$25K	$79K	50x	as long as short
Nado XPL-PERPshort	+0.0100%	1h	0.09551	−0.073%	$1.2M	$2.7M	10x
Polymarket Perps XPL-USD	+0.0100%	1h	0.09563	+0.058%	$127K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09530	−0.293%	$3K	$1.8M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09550	−0.084%	$189	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09520	−0.398%	$139K	$224K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09548	−0.104%	$646K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09551	−0.071%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0334%	1h	0.09551	−0.073%	$193K	$617K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09553	−0.052%	$1.7M	$981K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0616%	1h	0.09583	+0.262%	$74K	$86K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3327%	1h	0.09589	+0.322%	$544K	$977K	10x	as long as short