Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0015%/8h= −1.6% APRpaid last 24h +0.003%

Price spread now: Paradex against Extended+0.031%7-day average — · you sell dearer than you buy

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

Long on Extended 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 airdropExtended: Active · Paradex: Active · farm boardneeds both histories

The price spread pays, funding is against you. Paradex is 0.031% dearer against Extended than usual: you sell high and buy low (spread +0.031% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 6.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XPL-USD	0.09696	0.0104	pay 0.0013% / 1h	36m 31s	$657K	$1.1M	25x
Short	Paradex XPL-USD-PERP	0.09699	0.0089	get 0.0089% / 8h	1h 36m	$13K	$2K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Extended. 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 ExtendedbpFee ParadexbpOrdersPrice spread, now +0.031%Rate

Funding earned: −$3.12
Price spread: +0.031% → 0.000%: $3.06
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$9.06
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 2 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 Extended live order book, 2 min ago	2.05 bp	7.2 bp −$7	23.1 bp −$231	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
Backpack XPL_USDC_PERP	−0.0332%	1h	0.09707	+0.110%	$177K	$281K	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0265%	1h	0.09705	+0.089%	$47K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0208%	1h	0.09691	−0.055%	$563	$708	5x	as long as short
Lighter XPL	−0.0168%	1h	0.09692	−0.045%	$4.4M	$4.1M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0103% / S +0.0501%	1h	0.09703	+0.064%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09709	+0.135%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−21.926%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09703	+0.071%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0077%	4h	0.09693	−0.035%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERPshort	+0.0089%	8h	0.09699	+0.031%	$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	0.09702	+0.053%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09715	+0.190%	$62.6M	$47.5M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09705	+0.084%	$251K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09708	+0.118%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09695	−0.014%	$43.6M	$106.3M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09694	−0.024%	$47.2M	$54.0M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09695	−0.014%	$8.9M	$53.3M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09750	+0.551%	$140K	$8K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09695	−0.014%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09695	−0.014%	$12.6M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09704	+0.079%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09704	+0.079%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09698	+0.017%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09747	+0.526%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09740	+0.451%	$262K	$777K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09750	+0.553%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09707	+0.107%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09690	−0.066%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09700	+0.038%	$446	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09743	+0.481%	$138K	$246K	20x	as long as short
Extended XPL-USDlong	+0.0104%	1h	0.09696	long leg	$657K	$1.1M	25x
Aevo XPL-PERP	+0.0104%	1h	0.09709	+0.126%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09716	+0.203%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09762	+0.677%	$198K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09760	+0.656%	$72K	$104K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4608%	1h	0.09743	+0.477%	$510K	$956K	10x	as long as short