Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0564%/8h= +61.8% APRpaid last 24h +0.055%

Price spread now: Variational Omni against 01 Exchange−0.157%7-day average — · you buy dearer than you sell

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

Long on 01 Exchange Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Variational Omni is 0.157% cheaper against 01 Exchange than usual: you would sell low and buy high (spread −0.157% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$16 on $10k: about 22 hours of funding at the current rate (+$17 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange XPLUSD	0.09676	−0.0464	get 0.0058% / 1h	53m 38s	$563	$708	5x
Short	Variational Omni XPL	0.09661	0.0100	get 0.0050% / 4h	3h 53m	$1.7M	$1.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against 01 Exchange. 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 01 ExchangebpFee Variational OmnibpOrdersPrice spread, now −0.157%Rate

Funding earned: $118.44
Price spread: −0.157% → 0.000%: −$15.7
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $95.74
Costs to cover: 0.070%
Break-even: 1.3 days

Slippage unknown: 01 Exchange: no order-book sample; Variational Omni: RFQ quote, just now. 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, just now	4.13 bp	doesn't fit	61.0 bp −$610	doesn't fit	doesn't fit

01 Exchange: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 XPLUSDlong	−0.0464%	1h	0.09676	long leg	$563	$708	5x
Deribit XPL_USDC-PERPETUAL	−0.0371%	1h	0.09655	−0.217%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0304% / S +0.0610%	1h	0.09662	−0.147%	$107K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0209%	1h	0.09660	−0.165%	$178K	$199K	10x	as long as short
Gate XPL_USDT	−0.0026%	4h	0.09663	−0.134%	$3.0M	$3.4M	75x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09683	+0.075%	$9K	$585	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.756%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09663	−0.139%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0017%	4h	0.09653	−0.238%	$29K	$339K	10x	as long as short
Paradex XPL-USD-PERP	+0.0056%	8h	0.09681	+0.049%	$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
Lighter XPL	+0.0096%	1h	0.09668	−0.083%	$4.4M	$3.0M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09687	+0.114%	$1.2M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09688	+0.126%	$61.1M	$46.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09679	+0.031%	$252K	$469K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09687	+0.109%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09690	+0.140%	$44.0M	$102.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09684	+0.083%	$45.9M	$54.6M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09688	+0.124%	$8.3M	$49.6M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09670	−0.062%	$141K	$5K	10x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09679	+0.031%	$12.5M	$7.0M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09680	+0.041%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09691	+0.155%	$8.8M	$10.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09682	+0.062%	—	$7.9M	—	as long as short
Variational Omni XPLshort	+0.0100%	4h	0.09661	−0.157%	$1.7M	$1.9M	—
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09665	−0.114%	$260K	$1.0M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09690	+0.145%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09672	−0.044%	$127K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09650	−0.269%	$3K	$1.8M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09650	−0.269%	$203	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09677	+0.010%	$142K	$206K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09680	+0.044%	$653K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09660	−0.167%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0334%	1h	0.09681	+0.052%	$196K	$573K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09674	−0.021%	$1.7M	$987K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0640%	1h	0.09708	+0.331%	$75K	$85K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3106%	1h	0.09698	+0.225%	$550K	$974K	10x	as long as short