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: OKX against Variational Omni−0.013%7-day average −0.005% · you buy dearer than you sell

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

Long on Variational Omni Short on OKX

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+0.041%+$4 · spread now −0.013%, 7d avg −0.005%

Together, before fees+0.041%+ Points / potential airdropVariational Omni: Active · farm board+$4 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XPL	0.09717	0.0100	pay 0.0050% / 4h	1h 19m	$1.7M	$1.9M	—
Short	OKX XPL-USDT-SWAP	0.09716	0.0100	get 0.0050% / 4h	1h 19m	$8.9M	$53.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.013%Rate

Funding earned: $0
Price spread: −0.013% → −0.005%: −$0.86
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$10.86
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; OKX: live order book, 5 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, 5 min ago	4.10 bp	doesn't fit	89.2 bp −$892	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	0.51 bp	10.0 bp −$10	32.9 bp −$329	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
Backpack XPL_USDC_PERP	−0.0307%	1h	0.09722	+0.049%	$177K	$282K	10x	as long as short
Lighter XPL	−0.0240%	1h	0.09708	−0.096%	$4.4M	$4.1M	10x	as long as short
01 Exchange XPLUSD	−0.0224%	1h	0.09717	−0.003%	$565	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0111% / S +0.0506%	1h	0.09725	+0.084%	$112K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0059%	1h	0.09718	+0.007%	$47K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09720	+0.030%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.093%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09724	+0.065%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0071%	4h	0.09715	−0.024%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0082%	8h	0.09710	−0.070%	$13K	$2K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XPL-PERP	+0.0100%	1h	0.09721	+0.038%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09734	+0.168%	$62.9M	$47.8M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09726	+0.087%	$251K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09719	+0.022%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09716	−0.013%	$43.8M	$106.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09717	−0.003%	$47.9M	$54.8M	75x	as long as short
OKX XPL-USDT-SWAPshort	+0.0100%	4h	0.09716	−0.013%	$8.9M	$53.9M	50x
Bulk XPL-USD	+0.0100%	1h	0.09725	+0.075%	$142K	$9K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09715	−0.024%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09716	−0.013%	$12.6M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09716	−0.013%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09724	+0.069%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09717	−0.003%	—	$7.9M	—	as long as short
Variational Omni XPLlong	+0.0100%	4h	0.09717	long leg	$1.7M	$1.9M	—
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09720	+0.028%	$259K	$787K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09730	+0.131%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09732	+0.147%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09700	−0.178%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09710	−0.075%	$447	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09713	−0.044%	$138K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09716	−0.017%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09720	+0.028%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09710	−0.075%	$1.7M	$1.1M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09744	+0.275%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09760	+0.440%	$72K	$104K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4595%	1h	0.09769	+0.533%	$561K	$996K	10x	as long as short