Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0005%/8h= −0.6% APRpaid last 24h +0.019%

Price spread now: Paradex against GRVT−0.200%7-day average — · you buy dearer than you sell

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

Long on GRVT 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 airdropGRVT: Active · Paradex: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Paradex is 0.200% cheaper against GRVT than usual: you would sell low and buy high, −$20 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT XPL_USDT_Perp	0.09764	0.0100	pay 0.0050% / 4h	2h 31m	$264K	$786K	10x
Short	Paradex XPL-USD-PERP	0.09744	0.0095	get 0.0095% / 8h	2h 31m	$13K	$2K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against GRVT. 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 GRVTbpFee ParadexbpOrdersPrice spread, now −0.200%Rate

Funding earned: −$1.12
Price spread: −0.200% → 0.000%: −$20.02
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$34.14
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 56 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 GRVT live order book, 56 min ago	5.05 bp	82.7 bp −$83	220.5 bp −$2,205	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	−0.0120%	1h	0.09742	−0.223%	$4.4M	$4.3M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0076% / S +0.0483%	1h	0.09748	−0.160%	$112K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0019%	1h	0.09755	−0.090%	$178K	$283K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09745	−0.192%	$8K	—	5x	as long as short
01 Exchange XPLUSD	0.0000%	1h	0.09745	−0.193%	$567	$582	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.463%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09754	−0.100%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09749	−0.153%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0082%	4h	0.09746	−0.182%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERPshort	+0.0095%	8h	0.09744	−0.200%	$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	0.09746	−0.185%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09767	+0.035%	$62.7M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09752	−0.121%	$252K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09749	−0.153%	$221K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09753	−0.111%	$44.1M	$104.5M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09754	−0.100%	$47.6M	$53.3M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09752	−0.121%	$9.0M	$53.1M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09740	−0.244%	$140K	$11K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09750	−0.141%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09753	−0.111%	$12.7M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09749	−0.152%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09757	−0.070%	$8.6M	$11.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09753	−0.111%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09764	+0.004%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perplong	+0.0100%	4h	0.09764	long leg	$264K	$786K	10x
ApeX Omni XPLUSDT	+0.0100%	1h	0.09740	−0.244%	$25K	$86K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09756	−0.076%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09730	−0.346%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09750	−0.141%	$207	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09743	−0.213%	$138K	$245K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09749	−0.148%	$660K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09759	−0.052%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09736	−0.285%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09773	+0.094%	$198K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09844	+0.821%	$74K	$105K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3493%	1h	0.09790	+0.271%	$515K	$940K	10x	as long as short