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: MEXC against Variational Omni+0.023%7-day average −0.010% · you sell dearer than you buy

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

Long on Variational Omni Short on MEXC

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−0.020%−$2 · spread now +0.023%, 7d avg −0.010%

Together, before fees−0.020%+ Points / potential airdropVariational Omni: Active · farm board−$2 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: MEXC is 0.033% dearer against Variational Omni than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XPL	0.09670	0.0100	pay 0.0050% / 4h	2h 01m	$1.7M	$1.8M	—
Short	MEXC XPL_USDT	0.09672	0.0100	get 0.0050% / 4h	2h 01m	$12.6M	$8.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.023%Rate

Funding earned: $0
Price spread: +0.023% → −0.010%: $3.28
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee MEXC: 0 bp × 2 orders: $0
Net: $3.28
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; MEXC: live order book, 2 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	4.14 bp	doesn't fit	63.2 bp −$632	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	1.04 bp	3.9 bp −$4	9.7 bp −$97	88.9 bp −$8,889	233.0 bp −$116.5K

XPL on 35 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	−0.0304%	1h	0.09666	−0.039%	$562	$708	5x	as long as short
Backpack XPL_USDC_PERP	−0.0220%	1h	0.09673	+0.033%	$179K	$243K	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0209% / S +0.0569%	1h	0.09678	+0.089%	$111K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0060%	1h	0.09675	+0.054%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	−0.0002%	4h	0.09672	+0.023%	$29K	$335K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09668	−0.023%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.709%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09679	+0.093%	$60K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0040%	4h	0.09671	+0.012%	$8.4M	$53.5M	50x	as long as short
Paradex XPL-USD-PERP	+0.0043%	8h	0.09668	−0.020%	$13K	$2K	5x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPL	+0.0048%	1h	0.09662	−0.081%	$4.4M	$4.2M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09667	−0.029%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09681	+0.119%	$61.5M	$47.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09671	+0.015%	$246K	$499K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09670	+0.002%	$220K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09671	+0.010%	$43.9M	$108.0M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09669	−0.008%	$46.5M	$56.3M	75x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09672	+0.023%	$3.0M	$3.9M	75x	as long as short
MEXC XPL_USDTshort	+0.0100%	4h	0.09672	+0.023%	$12.6M	$8.0M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09665	−0.050%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09679	+0.095%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09670	+0.002%	—	$8.0M	—	as long as short
Variational Omni XPLlong	+0.0100%	4h	0.09670	long leg	$1.7M	$1.8M	—
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09646	−0.247%	$257K	$891K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09650	−0.205%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09677	+0.075%	$132K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09660	−0.101%	$2K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09670	+0.002%	$196	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09665	−0.050%	$143K	$250K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09660	−0.101%	$141K	$7K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09673	+0.035%	$655K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09670	+0.002%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0328%	1h	0.09667	−0.029%	$196K	$657K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0496%	1h	0.09766	+0.995%	$78K	$95K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4402%	1h	0.09717	+0.484%	$551K	$1.0M	10x	as long as short