Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0006%/8h= −0.6% APRpaid last 24h −0.001%

Price spread now: Paradex against Bitget−0.077%7-day average — · you buy dearer than you sell

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

Long on Bitget 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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Paradex is 0.077% cheaper against Bitget than usual: you would sell low and buy high, −$8 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget XPLUSDT	0.09770	0.0100	pay 0.0050% / 4h	2h 37m	$8.6M	$11.0M	75x
Short	Paradex XPL-USD-PERP	0.09762	0.0094	get 0.0094% / 8h	2h 37m	$13K	$2K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Bitget. 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 BitgetbpFee ParadexbpOrdersPrice spread, now −0.077%Rate

Funding earned: −$1.23
Price spread: −0.077% → 0.000%: −$7.7
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$24.93
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 1 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 Bitget live order book, 1 min ago	3.59 bp	18.4 bp −$18	47.6 bp −$476	doesn't fit	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	−0.0168%	1h	0.09766	−0.041%	$4.4M	$4.3M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0073% / S +0.0481%	1h	0.09775	+0.049%	$113K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0006%	1h	0.09783	+0.133%	$178K	$283K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09750	−0.205%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.512%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09779	+0.092%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09776	+0.056%	$72K	—	150x	as long as short
01 Exchange XPLUSD	+0.0008%	1h	0.09772	+0.020%	$568	$582	5x	as long as short
Orderly PERP_XPL_USDC	+0.0082%	4h	0.09775	+0.051%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERPshort	+0.0094%	8h	0.09762	−0.077%	$13K	$2K	5x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XPL-PERP	+0.0100%	1h	0.09768	−0.023%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09789	+0.199%	$62.9M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09779	+0.096%	$253K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09763	−0.073%	$221K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09766	−0.041%	$44.1M	$104.3M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09771	+0.010%	$47.7M	$53.2M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09766	−0.041%	$9.1M	$53.1M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09822	+0.537%	$142K	$11K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09774	+0.041%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09768	−0.020%	$12.8M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09776	+0.061%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDTlong	+0.0100%	4h	0.09770	long leg	$8.6M	$11.0M	75x
BingX XPL-USDT	+0.0100%	4h	0.09765	−0.051%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09799	+0.297%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09789	+0.192%	$265K	$786K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09790	+0.205%	$25K	$86K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09784	+0.144%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09750	−0.205%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09780	+0.102%	$201	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09756	−0.143%	$138K	$245K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09771	+0.015%	$656K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09780	+0.099%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09759	−0.113%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09766	−0.041%	$197K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09844	+0.757%	$74K	$105K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3481%	1h	0.09823	+0.541%	$517K	$939K	10x	as long as short