XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0532%/8h= −58.3% APRnext payment −$2.66 per $10,000 · paid last 24h −0.017%

Price spread now: Bybit against Variational Omni+0.406%7-day average −0.029% · you sell dearer than you buy

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

Long on Variational Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.046%−$5 on $10k

Price spread, last 7 days−0.394%−$39 · spread now +0.406%, 7d avg −0.029%

Together, before fees−0.440%+ Points / potential airdropVariational Omni: Active · farm board−$44 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.435% dearer against Variational Omni than usual: you sell high and buy low (spread +0.406% now, against its 7-day average of −0.029%): +$44 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 2.7 days. At the pace of the last 4 days (−0.046% in total) that is about 35 days.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.046% in total (about -4.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.66 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XPL	0.09577	0.0100	pay 0.0050% / 4h	3h 16m	$1.7M	$1.9M	—
Short	Bybit XPLUSDT	0.09616	−0.0432	pay 0.0216% / 4h	3h 16m	$45.6M	$54.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BybitbpOrdersPrice spread, now +0.406%Rate

Funding earned: −$111.75
Price spread: +0.406% → −0.029%: $43.55
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$79.21
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Bybit: live order book, 3 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, 3 min ago	4.18 bp	doesn't fit	44.9 bp −$449	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.52 bp	15.2 bp −$15	44.1 bp −$441	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	−0.1120%	1h	0.09607	+0.312%	$4.4M	$3.2M	10x	as long as short
Bybit XPLUSDTshort	−0.0432%	4h	0.09616	+0.406%	$45.6M	$54.1M	75x
01 Exchange XPLUSD	−0.0424%	1h	0.09602	+0.260%	$558	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0311% / S +0.0615%	1h	0.09595	+0.189%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0166%	1h	0.09621	+0.458%	$46K	$17K	25x	as long as short
Paradex XPL-USD-PERP	−0.0119%	8h	0.09607	+0.310%	$12K	$696	5x	as long as short
OKX XPL-USDT-SWAP	−0.0060%	4h	0.09611	+0.354%	$7.6M	$47.9M	50x	as long as short
Orderly PERP_XPL_USDC	−0.0034%	4h	0.09616	+0.406%	$30K	$235K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09613	+0.370%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.949%	—	—	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09595	+0.185%	$72K	—	150x	as long as short
Gate XPL_USDT	+0.0028%	4h	0.09618	+0.427%	$2.9M	$3.3M	75x	as long as short
Extended XPL-USD	+0.0032%	1h	0.09616	+0.402%	$618K	$1.2M	25x	as long as short
MEXC XPL_USDT	+0.0092%	4h	0.09618	+0.427%	$13.2M	$6.6M	100x	as long as short
Binance XPLUSDT	+0.0093%	4h	0.09612	+0.361%	$43.9M	$98.2M	75x	as long as short
Backpack XPL_USDC_PERP	+0.0099%	1h	0.09623	+0.479%	$183K	$182K	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09610	+0.349%	$1.3M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09633	+0.579%	$61.0M	$45.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09624	+0.490%	$255K	$399K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09614	+0.384%	$220K	$47K	10x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09618	+0.427%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09624	+0.490%	$9.1M	$10.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09615	+0.396%	—	$7.7M	—	as long as short
Variational Omni XPLlong	+0.0100%	4h	0.09577	long leg	$1.7M	$1.9M	—
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09570	−0.074%	$256K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09600	+0.239%	$25K	$73K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09619	+0.437%	$126K	$1.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09610	+0.343%	$3K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09620	+0.448%	$192	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09615	+0.396%	$134K	$214K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09570	−0.074%	$139K	$0	10x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09624	+0.489%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09601	+0.249%	$194K	$494K	10x	as long as short
BloFin XPL-USDT	+0.0333%	4h	0.09580	+0.030%	$1.7M	$952K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0536%	1h	0.09640	+0.657%	$64K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2688%	1h	0.09648	+0.741%	$546K	$963K	10x	as long as short