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: BingX against Variational Omni−0.134%7-day average −0.016% · you buy dearer than you sell

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

Long on Variational Omni Short on BingX

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+0.151%+$15 · spread now −0.134%, 7d avg −0.016%

Together, before fees+0.151%+ Points / potential airdropVariational Omni: Active · farm board+$15 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: BingX is 0.117% cheaper against Variational Omni than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of −0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XPL	0.09536	0.0100	pay 0.0050% / 4h	45m 19s	$1.7M	$1.8M	—
Short	BingX XPL-USDT	0.09523	0.0100	get 0.0050% / 4h	45m 19s	—	$7.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Variational Omni. 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 Variational OmnibpFee BingXbpOrdersPrice spread, now −0.134%Rate

Funding earned: $0
Price spread: −0.134% → −0.016%: −$11.71
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$21.71
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; BingX: live order book, 8 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 Variational Omni RFQ quote, 4 min ago	3.68 bp	doesn't fit	61.5 bp −$615	doesn't fit	doesn't fit
Sell BingX live order book, 8 min ago	5.76 bp	17.9 bp −$18	29.7 bp −$297	85.8 bp −$8,584	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	0.09523	−0.134%	$554	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0293% / S +0.0604%	1h	0.09531	−0.047%	$105K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0275%	1h	0.09524	−0.123%	$46K	$18K	25x	as long as short
Bybit XPLUSDT	−0.0115%	4h	0.09516	−0.207%	$45.1M	$55.3M	75x	as long as short
Backpack XPL_USDC_PERP	−0.0085%	1h	0.09546	+0.108%	$176K	$224K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09539	+0.030%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.607%	—	—	—	as long as short
Orderly PERP_XPL_USDC	+0.0004%	4h	0.09524	−0.123%	$29K	$339K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09530	−0.057%	$72K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0074%	8h	0.09532	−0.041%	$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	0.09511	−0.259%	$4.3M	$3.3M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09533	−0.029%	$1.2M	$2.7M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09545	+0.102%	$59.8M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09541	+0.056%	$243K	$486K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09538	+0.022%	$218K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09515	−0.215%	$43.1M	$104.5M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09515	−0.217%	$8.2M	$49.4M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09532	−0.039%	$3.0M	$3.6M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09530	−0.060%	$12.3M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09529	−0.071%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09527	−0.092%	$8.5M	$10.2M	75x	as long as short
BingX XPL-USDTshort	+0.0100%	4h	0.09523	−0.134%	—	$7.9M	—
Variational Omni XPLlong	+0.0100%	4h	0.09536	long leg	$1.7M	$1.8M	—
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09510	−0.270%	$253K	$955K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09540	+0.045%	$25K	$79K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09543	+0.074%	$127K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09510	−0.270%	$3K	$1.8M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09520	−0.165%	$188	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09544	+0.087%	$140K	$246K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09565	+0.307%	$139K	$5K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09518	−0.189%	$646K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09527	−0.094%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0334%	1h	0.09551	+0.160%	$193K	$617K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09513	−0.238%	$1.7M	$980K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0616%	1h	0.09557	+0.223%	$74K	$86K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3339%	1h	0.09554	+0.191%	$542K	$977K	10x	as long as short