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: Polymarket Perps against Pacifica+0.112%7-day average +0.056% · you sell dearer than you buy

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$590.594% of the position

Long on Pacifica Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.048%−$5 on $10k

Price spread, last 3 days (all we have)+0.158%+$16 · spread now +0.112%, 7d avg +0.056%

Together, before fees+0.110%+ Points / potential airdropPacifica: Active · farm board+$11 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: Polymarket Perps is 0.056% dearer against Pacifica than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.056%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica XPL	0.09812	0.0100	pay 0.0013% / 1h	49m 08s	$223K	$46K	10x
Short	Polymarket Perps XPL-USD	0.09823	0.0100	get 0.0013% / 1h	49m 08s	$131K	$2.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.112%Rate

Funding earned: $0
Price spread: +0.112% → +0.056%: $5.63
Slippage, 4 orders: −$43.4
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$53.77
Costs to cover: 0.594%
Break-even: never at this rate

Slippage from Pacifica: live order book, 29 min ago; Polymarket Perps: live order book, 5 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, 29 min ago	10.29 bp	17.8 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 5 min ago	2.70 bp	9.4 bp −$9	9.9 bp −$99	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	−0.0384%	1h	0.09790	−0.220%	$4.4M	$4.1M	10x	as long as short
01 Exchange XPLUSD	−0.0240%	1h	0.09811	−0.006%	$570	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0126% / S +0.0516%	1h	0.09813	+0.017%	$113K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0056%	1h	0.09806	−0.057%	$47K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09809	−0.029%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.842%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09813	+0.013%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0063%	4h	0.09800	−0.118%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0082%	8h	0.09804	−0.074%	$13K	$2K	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09804	−0.077%	$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	0.09815	+0.037%	$63.4M	$47.9M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09806	−0.058%	$254K	$527K	20x	as long as short
Pacifica XPLlong	+0.0100%	1h	0.09812	long leg	$223K	$46K	10x
Binance XPLUSDT	+0.0100%	4h	0.09800	−0.118%	$44.5M	$107.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09806	−0.057%	$48.1M	$55.0M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09802	−0.098%	$8.9M	$54.6M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09802	−0.098%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09806	−0.057%	$12.8M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09796	−0.159%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09807	−0.047%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09797	−0.149%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09804	−0.077%	$178K	$279K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09800	−0.115%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09798	−0.143%	$262K	$796K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09800	−0.118%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USDshort	+0.0100%	1h	0.09823	+0.112%	$131K	$2.7M	10x
SunX XPL-USDT	+0.0100%	4h	0.09780	−0.322%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09800	−0.118%	$451	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09801	−0.108%	$139K	$246K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09800	−0.119%	$143K	$9K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09800	−0.121%	$660K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09805	−0.067%	$38K	$5K	3x	as long as short
Phoenix XPL	+0.0327%	1h	0.09824	+0.126%	$199K	$651K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09797	−0.149%	$1.7M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0568%	1h	0.09825	+0.137%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5067%	1h	0.09853	+0.418%	$567K	$1.0M	10x	as long as short