Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0014%/8h= −1.6% APRpaid last 24h −0.001%

Price spread now: Paradex against Gate−0.046%7-day average — · you buy dearer than you sell

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

Long on Gate 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 $0 a day on $10k at the current rate, and Paradex is 0.046% cheaper against Gate than usual: you would sell low and buy high (−$5 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	Gate XPL_USDT	0.09801	0.0100	pay 0.0050% / 4h	57m 56s	$3.0M	$4.0M	75x
Short	Paradex XPL-USD-PERP	0.09797	0.0086	get 0.0086% / 8h	57m 56s	$13K	$2K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Gate. 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 GatebpFee ParadexbpOrdersPrice spread, now −0.046%Rate

Funding earned: −$2.98
Price spread: −0.046% → 0.000%: −$4.59
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$26.57
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 5 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 Gate live order book, 5 min ago	3.08 bp	22.1 bp −$22	146.8 bp −$1,468	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
Lighter XPL	−0.0304%	1h	0.09792	−0.092%	$4.4M	$4.1M	10x	as long as short
01 Exchange XPLUSD	−0.0248%	1h	0.09795	−0.061%	$569	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0121% / S +0.0513%	1h	0.09810	+0.096%	$113K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0056%	1h	0.09806	+0.051%	$47K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09789	−0.127%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.759%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09808	+0.067%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0066%	4h	0.09803	+0.020%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERPshort	+0.0086%	8h	0.09797	−0.046%	$13K	$2K	5x
Nado XPL-PERP	+0.0100%	1h	0.09806	+0.051%	$1.4M	$2.6M	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	0.09820	+0.190%	$63.6M	$47.8M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09809	+0.082%	$254K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09800	−0.010%	$223K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09803	+0.020%	$44.4M	$107.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09806	+0.051%	$48.2M	$54.9M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09802	+0.010%	$8.9M	$54.5M	50x	as long as short
Gate XPL_USDTlong	+0.0100%	4h	0.09801	long leg	$3.0M	$4.0M	75x
MEXC XPL_USDT	+0.0100%	4h	0.09800	−0.010%	$12.7M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09798	−0.031%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09810	+0.092%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09802	+0.010%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09809	+0.082%	$178K	$279K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09755	−0.467%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09790	−0.112%	$261K	$787K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09760	−0.418%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09815	+0.142%	$131K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09780	−0.214%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09800	−0.010%	$451	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09786	−0.153%	$139K	$246K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09790	−0.112%	$143K	$9K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09799	−0.020%	$656K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09822	+0.212%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09777	−0.245%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09785	−0.163%	$198K	$649K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0568%	1h	0.09794	−0.071%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5067%	1h	0.09852	+0.522%	$567K	$1.0M	10x	as long as short