Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0054%/8h= −5.9% APRpaid last 24h −0.009%

Price spread now: Paradex against Binance+0.073%7-day average — · you sell dearer than you buy

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

Long on Binance 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

The price spread pays, funding is against you. Paradex is 0.073% dearer against Binance than usual: you sell high and buy low (spread +0.073% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XPLUSDT	0.09608	0.0100	pay 0.0050% / 4h	3h 08m	$43.6M	$100.8M	75x
Short	Paradex XPL-USD-PERP	0.09615	0.0046	get 0.0046% / 8h	3h 08m	$12K	$696	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Binance. 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 BinancebpFee ParadexbpOrdersPrice spread, now +0.073%Rate

Funding earned: −$11.39
Price spread: +0.073% → 0.000%: $7.29
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$18.1
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 4 min ago; 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 Binance live order book, 4 min ago	0.52 bp	10.6 bp −$11	22.4 bp −$224	129.3 bp −$12.9K	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

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
Deribit XPL_USDC-PERPETUAL	−0.0374%	1h	0.09607	−0.013%	$46K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0368%	1h	0.09605	−0.034%	$558	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0304% / S +0.0610%	1h	0.09610	+0.023%	$106K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0076%	1h	0.09607	−0.013%	$175K	$190K	10x	as long as short
Bybit XPLUSDT	−0.0019%	4h	0.09608	−0.003%	$45.5M	$54.2M	75x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09611	+0.032%	$9K	$585	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.207%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09612	+0.044%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0008%	4h	0.09605	−0.034%	$29K	$339K	10x	as long as short
Lighter XPL	+0.0032%	1h	0.09604	−0.045%	$4.3M	$3.0M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPL-USD-PERPshort	+0.0046%	8h	0.09615	+0.073%	$12K	$696	5x
Nado XPL-PERP	+0.0100%	1h	0.09613	+0.052%	$1.2M	$2.4M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09625	+0.174%	$61.0M	$46.4M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09618	+0.103%	$251K	$422K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09617	+0.090%	$220K	$46K	10x	as long as short
Binance XPLUSDTlong	+0.0100%	4h	0.09608	long leg	$43.6M	$100.8M	75x
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09611	+0.028%	$8.2M	$48.4M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09650	+0.434%	$141K	$5K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09608	−0.003%	$3.1M	$3.5M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09612	+0.039%	$12.7M	$7.1M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09606	−0.024%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09622	+0.143%	$9.1M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09613	+0.049%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09633	+0.254%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09655	+0.488%	$260K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09670	+0.642%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09623	+0.151%	$128K	$1.9M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09590	−0.190%	$3K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09600	−0.086%	$203	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09634	+0.268%	$141K	$185K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09609	+0.003%	$653K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09600	−0.086%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09670	+0.642%	$196K	$573K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09601	−0.076%	$1.7M	$955K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0640%	1h	0.09708	+1.038%	$75K	$76K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3123%	1h	0.09645	+0.381%	$548K	$990K	10x	as long as short