Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.5021%/8h= −549.8% APRpaid last 24h −0.338%

Price spread now: Paradex against Kraken Futures−0.584%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures 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 −$151 a day on $10k at the current rate, and Paradex is 0.584% cheaper against Kraken Futures than usual: you would sell low and buy high (−$58 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	Kraken Futures PF_XPLUSD	0.09833	0.5077	pay 0.0635% / 1h	42m 52s	$566K	$1.0M	10x
Short	Paradex XPL-USD-PERP	0.09776	0.0056	get 0.0056% / 8h	42m 52s	$13K	$2K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Kraken Futures. 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 Kraken FuturesbpFee ParadexbpOrdersPrice spread, now −0.584%Rate

Funding earned: −$1,054.35
Price spread: −0.584% → 0.000%: −$58.4
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$1,126.76
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, just now; 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 Kraken Futures live order book, just now	18.83 bp	39.4 bp −$39	1076.1 bp −$10.8K	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	−0.0632%	1h	0.09763	−0.716%	$4.4M	$4.1M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0465%	1h	0.09777	−0.574%	$47K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0312%	1h	0.09773	−0.614%	$568	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0129% / S +0.0517%	1h	0.09787	−0.476%	$113K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09791	−0.432%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−23.014%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09788	−0.458%	$72K	—	150x	as long as short
Paradex XPL-USD-PERPshort	+0.0056%	8h	0.09776	−0.584%	$13K	$2K	5x
Orderly PERP_XPL_USDC	+0.0060%	4h	0.09779	−0.553%	$29K	$335K	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09780	−0.548%	$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	0.09785	−0.494%	$63.3M	$48.0M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09778	−0.564%	$253K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09790	−0.442%	$223K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09767	−0.676%	$44.3M	$107.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09767	−0.675%	$47.8M	$55.1M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09766	−0.685%	$8.9M	$54.4M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09769	−0.655%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09770	−0.645%	$12.7M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09773	−0.614%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09777	−0.574%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09767	−0.675%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09779	−0.553%	$180K	$280K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09803	−0.306%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09781	−0.531%	$262K	$806K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09790	−0.441%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09792	−0.424%	$131K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09760	−0.746%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09770	−0.645%	$202	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09770	−0.645%	$139K	$241K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09800	−0.340%	$143K	$9K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09770	−0.647%	$660K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09778	−0.562%	$38K	$5K	3x	as long as short
Phoenix XPL	+0.0327%	1h	0.09796	−0.380%	$198K	$651K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09769	−0.655%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0568%	1h	0.09825	−0.085%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSDlong	+0.5077%	1h	0.09833	long leg	$566K	$1.0M	10x