Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0285%/8h= −31.2% APRpaid last 24h −0.081%

Price spread now: Paradex against BloFin+0.138%7-day average — · you sell dearer than you buy

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

Long on BloFin 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 0.138% dearer against BloFin than usual: you sell high and buy low (spread +0.138% now, against zero (this spread has no 7-day history yet)): +$14 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 39 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin XPL-USDT	0.09595	0.0340	pay 0.0170% / 4h	1h 35m	$1.7M	$1.0M	75x
Short	Paradex XPL-USD-PERP	0.09608	0.0055	get 0.0055% / 8h	5h 35m	$12K	$2K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against BloFin. 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 BloFinbpFee ParadexbpOrdersPrice spread, now +0.138%Rate

Funding earned: −$59.87
Price spread: +0.138% → 0.000%: $13.76
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$62.11
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 7 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 BloFin live order book, 7 min ago	3.64 bp	9.6 bp −$10	14.8 bp −$148	52.4 bp −$5,241	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
Backpack XPL_USDC_PERP	−0.0563%	1h	0.09628	+0.344%	$181K	$242K	10x	as long as short
01 Exchange XPLUSD	−0.0440%	1h	0.09597	+0.021%	$558	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0251% / S +0.0578%	1h	0.09623	+0.293%	$106K	—	100x	as long as short
Orderly PERP_XPL_USDC	−0.0005%	4h	0.09621	+0.271%	$29K	$335K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09609	+0.143%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.097%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09625	+0.313%	$46K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09625	+0.309%	$73K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0035%	4h	0.09607	+0.125%	$8.3M	$53.0M	50x	as long as short
Paradex XPL-USD-PERPshort	+0.0055%	8h	0.09608	+0.138%	$12K	$2K	5x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPL	+0.0056%	1h	0.09618	+0.240%	$4.4M	$4.2M	10x	as long as short
Gate XPL_USDT	+0.0078%	4h	0.09618	+0.240%	$3.0M	$3.7M	75x	as long as short
Bybit XPLUSDT	+0.0093%	4h	0.09602	+0.073%	$45.5M	$56.8M	75x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09606	+0.115%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09636	+0.430%	$60.6M	$48.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09627	+0.332%	$245K	$501K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09610	+0.156%	$219K	$48K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09615	+0.208%	$43.5M	$108.7M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09540	−0.573%	$139K	$7K	10x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09627	+0.334%	$12.4M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09613	+0.188%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09632	+0.386%	$8.5M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09613	+0.188%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09612	+0.173%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09583	−0.122%	$255K	$912K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09590	−0.052%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09618	+0.240%	$128K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09600	+0.052%	$3K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09620	+0.261%	$2K	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09601	+0.063%	$144K	$264K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09621	+0.275%	$633K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09625	+0.313%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09608	+0.135%	$195K	$629K	10x	as long as short
BloFin XPL-USDTlong	+0.0340%	4h	0.09595	long leg	$1.7M	$1.0M	75x
Coinbase International XPL-PERP-INTX	+0.0672%	1h	0.09640	+0.469%	$74K	$93K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3560%	1h	0.09656	+0.631%	$548K	$1.0M	10x	as long as short