Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0077%/8h= −8.5% APRpaid last 24h −0.001%

Price spread now: Paradex against ApeX Omni−0.062%50s7-day average — · you buy dearer than you sell

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

Long on ApeX Omni Short on Paradex

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 airdropParadex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Paradex is 0.062% cheaper against ApeX Omni than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni XPLUSDT	0.09800	0.0100	pay 0.0013% / 1h	58m 13s	$25K	$88K	50x
Short	Paradex XPL-USD-PERP	0.09794	0.0023	get 0.0023% / 8h	7h 58m	$13K	$2K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against ApeX 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 ApeX OmnibpFee ParadexbpOrdersPrice spread, now −0.062%Rate

Funding earned: −$16.23
Price spread: −0.062% → 0.000%: −$6.17
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$36.4
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: ApeX Omni: no order-book sample; Paradex: no order-book sample. 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 ApeX Omni no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

ApeX Omni and Paradex: 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
Lighter XPL	−0.0416%	1h	0.09778	−0.224%	$4.4M	$4.2M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0151% / S +0.0532%	1h	0.09795	−0.049%	$113K	—	100x	as long as short
01 Exchange XPLUSD	−0.0136%	1h	0.09791	−0.092%	$569	$708	5x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09799	−0.014%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.752%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09792	−0.082%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09798	−0.024%	$76K	—	150x	as long as short
Paradex XPL-USD-PERPshort	+0.0023%	8h	0.09794	−0.062%	$13K	$2K	5x
Orderly PERP_XPL_USDC	+0.0035%	4h	0.09789	−0.112%	$29K	$335K	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09788	−0.125%	$1.4M	$2.6M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid XPL	+0.0100%	1h	0.09806	+0.062%	$63.3M	$48.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09799	−0.009%	$254K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09798	−0.018%	$223K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09791	−0.094%	$44.7M	$108.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09790	−0.102%	$47.5M	$55.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09789	−0.112%	$8.7M	$55.3M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09796	−0.046%	$143K	$4K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09792	−0.082%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09792	−0.082%	$12.9M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09790	−0.102%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09796	−0.041%	$8.8M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09792	−0.082%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09797	−0.031%	$181K	$281K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09787	−0.131%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09788	−0.117%	$259K	$814K	10x	as long as short
ApeX Omni XPLUSDTlong	+0.0100%	1h	0.09800	long leg	$25K	$88K	50x
Polymarket Perps XPL-USD	+0.0100%	1h	0.09800	−0.003%	$131K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09770	−0.306%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09790	−0.102%	$199	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09797	−0.031%	$142K	$242K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09787	−0.128%	$658K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09794	−0.064%	$38K	$5K	3x	as long as short
Phoenix XPL	+0.0327%	1h	0.09812	+0.122%	$199K	$650K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09795	−0.051%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09815	+0.153%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5055%	1h	0.09842	+0.429%	$569K	$1.0M	10x	as long as short