Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0095%/8h= +10.4% APRpaid last 24h +0.029%

Price spread now: Paradex against dYdX−0.030%7-day average — · you buy dearer than you sell

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

Long on dYdX 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 pays, the price is against you. Paradex is 0.030% cheaper against dYdX than usual: you would sell low and buy high (spread −0.030% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 26 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX XPL-USD	0.09793	0	get 0.0000% / 1h	23m 27s	$8K	—	5x
Short	Paradex XPL-USD-PERP	0.09790	0.0095	get 0.0095% / 8h	2h 23m	$13K	$2K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against dYdX. 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 dYdXbpFee ParadexbpOrdersPrice spread, now −0.030%Rate

Funding earned: $19.96
Price spread: −0.030% → 0.000%: −$3.05
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: $2.91
Costs to cover: 0.140%
Break-even: 6.0 days

Slippage unknown: dYdX: 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 dYdX no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

dYdX 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
GMX XPL/USD [WBTC.b-USDC]	L −0.0080% / S +0.0486%	1h	0.09792	−0.001%	$113K	—	100x	as long as short
Lighter XPL	−0.0056%	1h	0.09781	−0.118%	$4.4M	$4.3M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0056%	1h	0.09804	+0.117%	$47K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0016%	1h	0.09791	−0.015%	$569	$582	5x	as long as short
dYdX XPL-USDlong	0.0000%	1h	0.09793	long leg	$8K	—	5x
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.690%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09792	−0.007%	$72K	—	150x	as long as short
Backpack XPL_USDC_PERP	+0.0026%	1h	0.09803	+0.107%	$179K	$283K	10x	as long as short
Orderly PERP_XPL_USDC	+0.0083%	4h	0.09794	+0.015%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERPshort	+0.0095%	8h	0.09790	−0.030%	$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	0.09792	−0.005%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09805	+0.124%	$63.0M	$47.0M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09795	+0.025%	$253K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09793	+0.004%	$222K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09790	−0.026%	$44.2M	$104.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09789	−0.036%	$47.8M	$53.4M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09787	−0.056%	$9.1M	$53.3M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09740	−0.536%	$140K	$11K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09794	+0.015%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09789	−0.036%	$12.8M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09785	−0.077%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09793	+0.005%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09789	−0.036%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09812	+0.201%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09807	+0.147%	$265K	$786K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09810	+0.179%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09800	+0.082%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09780	−0.128%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09800	+0.076%	$205	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09794	+0.015%	$139K	$245K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09788	−0.049%	$664K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09801	+0.089%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09811	+0.189%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09825	+0.332%	$199K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09832	+0.403%	$74K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3470%	1h	0.09854	+0.629%	$519K	$941K	10x	as long as short