Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0056%/8h= −6.1% APRpaid last 24h −0.009%

Price spread now: Paradex against Bybit+0.025%7-day average — · you sell dearer than you buy

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

Long on Bybit 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 0.025% dearer against Bybit than usual: you sell high and buy low (spread +0.025% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 36 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XPLUSDT	0.09913	0.0100	pay 0.0050% / 4h	3h 12m	$48.2M	$56.1M	75x
Short	Paradex XPL-USD-PERP	0.09915	0.0044	get 0.0044% / 8h	7h 12m	$13K	$2K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Bybit. 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 BybitbpFee ParadexbpOrdersPrice spread, now +0.025%Rate

Funding earned: −$11.74
Price spread: +0.025% → 0.000%: $2.49
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$24.25
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Bybit: 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 Bybit live order book, 1 min ago	0.50 bp	16.2 bp −$16	46.8 bp −$468	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
Deribit XPL_USDC-PERPETUAL	−0.0254%	1h	0.09924	+0.111%	$48K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0200%	1h	0.09903	−0.101%	$576	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0172% / S +0.0546%	1h	0.09929	+0.166%	$114K	—	100x	as long as short
Lighter XPL	0.0000%	1h	0.09904	−0.091%	$4.5M	$4.2M	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09915	+0.024%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−23.631%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09929	+0.156%	$79K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0020%	4h	0.09921	+0.081%	$30K	$335K	10x	as long as short
Paradex XPL-USD-PERPshort	+0.0044%	8h	0.09915	+0.025%	$13K	$2K	5x
OKX XPL-USDT-SWAP	+0.0088%	4h	0.09908	−0.050%	$8.8M	$56.2M	50x	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	0.09920	+0.066%	$1.5M	$2.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09918	+0.047%	$256K	$537K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09922	+0.088%	$226K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09913	−0.001%	$45.4M	$109.0M	75x	as long as short
Bybit XPLUSDTlong	+0.0100%	4h	0.09913	long leg	$48.2M	$56.1M	75x
Bulk XPL-USD	+0.0100%	1h	0.09870	−0.434%	$144K	$2K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09921	+0.081%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09912	−0.010%	$13.2M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09910	−0.030%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09917	+0.040%	$8.9M	$11.2M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09910	−0.030%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09914	+0.010%	$185K	$254K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09912	−0.010%	$1.8M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09905	−0.085%	$263K	$844K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09940	+0.272%	$26K	$89K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09929	+0.158%	$133K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09910	−0.030%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09910	−0.030%	$498	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09929	+0.161%	$144K	$243K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09910	−0.028%	$673K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09926	+0.135%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09925	+0.121%	$201K	$655K	10x	as long as short
Hyperliquid XPL	+0.0190%	1h	0.09931	+0.186%	$64.5M	$47.1M	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09925	+0.121%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09980	+0.676%	$74K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4992%	1h	0.09965	+0.526%	$576K	$1.0M	10x	as long as short