Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0528%/8h= −57.8% APRpaid last 24h −0.207%

Price spread now: Paradex against Coinbase International−0.303%7-day average — · you buy dearer than you sell

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

Long on Coinbase International 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 −$16 a day on $10k at the current rate, and Paradex is 0.303% cheaper against Coinbase International than usual: you would sell low and buy high (−$30 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International XPL-PERP-INTX	0.09677	0.0592	pay 0.0074% / 1h	19m 20s	$67K	$90K	50x
Short	Paradex XPL-USD-PERP	0.09648	0.0064	get 0.0064% / 8h	2h 19m	$13K	$696	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Coinbase International. 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 Coinbase InternationalbpFee ParadexbpOrdersPrice spread, now −0.303%Rate

Funding earned: −$110.89
Price spread: −0.303% → 0.000%: −$30.25
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$155.14
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; 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 Coinbase International no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

Coinbase International and 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
01 Exchange XPLUSD	−0.0272%	1h	0.09645	−0.331%	$561	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09647	−0.307%	$107K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0165%	1h	0.09638	−0.403%	$46K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09652	−0.262%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.764%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09647	−0.308%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0008%	4h	0.09638	−0.403%	$29K	$306K	10x	as long as short
Lighter XPL	+0.0024%	1h	0.09640	−0.382%	$4.4M	$3.0M	10x	as long as short
Paradex XPL-USD-PERPshort	+0.0064%	8h	0.09648	−0.303%	$13K	$696	5x
Nado XPL-PERP	+0.0100%	1h	0.09648	−0.297%	$1.2M	$2.4M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid XPL	+0.0100%	1h	0.09663	−0.140%	$61.1M	$46.3M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09653	−0.253%	$254K	$428K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09656	−0.215%	$221K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09642	−0.357%	$43.7M	$99.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09637	−0.413%	$45.7M	$53.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09640	−0.382%	$8.2M	$48.5M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09581	−0.988%	$140K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09647	−0.310%	$3.1M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09648	−0.300%	$12.4M	$6.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09639	−0.393%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09647	−0.310%	$9.2M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09641	−0.372%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09651	−0.269%	$175K	$190K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09604	−0.756%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09580	−1.002%	$253K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09570	−1.106%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09659	−0.188%	$126K	$1.9M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09630	−0.486%	$3K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09640	−0.382%	$202	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09617	−0.620%	$137K	$191K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09636	−0.422%	$606K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09626	−0.531%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09651	−0.269%	$195K	$536K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09620	−0.589%	$1.7M	$949K	75x	as long as short
Coinbase International XPL-PERP-INTXlong	+0.0592%	1h	0.09677	long leg	$67K	$90K	50x
Kraken Futures PF_XPLUSD	+0.2874%	1h	0.09672	−0.048%	$550K	$965K	10x	as long as short