Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0086%/8h= −9.4% APRpaid last 24h −0.001%

Price spread now: Paradex against BingX−0.168%48s7-day average — · you buy dearer than you sell

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

Long on BingX 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 −$3 a day on $10k at the current rate, and Paradex is 0.168% cheaper against BingX than usual: you would sell low and buy high (−$17 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 48 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	BingX XPL-USDT	0.09799	0.0100	pay 0.0050% / 4h	2m 41s	—	$7.9M	—
Short	Paradex XPL-USD-PERP	0.09782	0.0014	get 0.0014% / 8h	2m 41s	$13K	$2K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against BingX. 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 BingXbpFee ParadexbpOrdersPrice spread, now −0.168%Rate

Funding earned: −$18.11
Price spread: −0.168% → 0.000%: −$16.85
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$48.95
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 10 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 BingX live order book, 10 min ago	5.15 bp	16.0 bp −$16	27.5 bp −$275	87.7 bp −$8,771	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
Lighter XPL	−0.0536%	1h	0.09788	−0.112%	$4.4M	$4.2M	10x	as long as short
01 Exchange XPLUSD	−0.0368%	1h	0.09786	−0.133%	$569	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0148% / S +0.0530%	1h	0.09794	−0.054%	$113K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09800	+0.008%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.744%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09792	−0.071%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09793	−0.058%	$76K	—	150x	as long as short
Paradex XPL-USD-PERPshort	+0.0014%	8h	0.09782	−0.168%	$13K	$2K	5x
Orderly PERP_XPL_USDC	+0.0036%	4h	0.09787	−0.122%	$29K	$335K	10x	as long as short
Gate XPL_USDT	+0.0040%	4h	0.09797	−0.020%	$3.1M	$4.1M	75x	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	0.09792	−0.077%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09817	+0.188%	$63.3M	$48.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09802	+0.035%	$254K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09806	+0.072%	$223K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09800	+0.010%	$44.7M	$108.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09798	−0.010%	$47.5M	$55.7M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09799	0.000%	$8.7M	$55.3M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09760	−0.398%	$142K	$9K	10x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09800	+0.010%	$12.9M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09795	−0.041%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09805	+0.061%	$8.8M	$11.1M	75x	as long as short
BingX XPL-USDTlong	+0.0100%	4h	0.09799	long leg	—	$7.9M	—
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09795	−0.041%	$181K	$282K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09760	−0.396%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09768	−0.313%	$259K	$814K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09780	−0.194%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09802	+0.029%	$131K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09770	−0.296%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09790	−0.092%	$200	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09768	−0.316%	$142K	$242K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09795	−0.039%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09786	−0.137%	$38K	$5K	3x	as long as short
Phoenix XPL	+0.0327%	1h	0.09782	−0.173%	$198K	$651K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09788	−0.112%	$1.7M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0568%	1h	0.09804	+0.051%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5077%	1h	0.09834	+0.353%	$568K	$1.0M	10x	as long as short