Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h −0.009%

Price spread now: Paradex against KuCoin+0.153%7-day average — · you sell dearer than you buy

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

Long on KuCoin 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

The price spread pays, funding is against you. Paradex is 0.153% dearer against KuCoin than usual: you sell high and buy low (spread +0.153% now, against zero (this spread has no 7-day history yet)): +$15 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 26 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XPLUSDTM	0.09623	0.0100	pay 0.0050% / 4h	24m 33s	$2.3M	$1.4M	50x
Short	Paradex XPL-USD-PERP	0.09638	0.0080	get 0.0080% / 8h	4h 24m	$13K	$2K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against KuCoin. 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 KuCoinbpFee ParadexbpOrdersPrice spread, now +0.153%Rate

Funding earned: −$4.15
Price spread: +0.153% → 0.000%: $15.35
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$4.8
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: KuCoin: 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 KuCoin live order book, 2 min ago	8.32 bp	36.4 bp −$36	135.1 bp −$1,351	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
01 Exchange XPLUSD	−0.0368%	1h	0.09633	+0.104%	$560	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0309% / S +0.0613%	1h	0.09649	+0.268%	$107K	—	100x	as long as short
Bybit XPLUSDT	−0.0085%	4h	0.09634	+0.114%	$45.6M	$54.8M	75x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0061%	1h	0.09650	+0.281%	$46K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09641	+0.185%	$9K	$585	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.327%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09650	+0.281%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0013%	4h	0.09644	+0.218%	$29K	$339K	10x	as long as short
Backpack XPL_USDC_PERP	+0.0050%	1h	0.09638	+0.156%	$178K	$223K	10x	as long as short
Paradex XPL-USD-PERPshort	+0.0080%	8h	0.09638	+0.153%	$13K	$2K	5x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPL	+0.0096%	1h	0.09626	+0.031%	$4.4M	$3.3M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09635	+0.125%	$1.2M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09652	+0.303%	$60.9M	$46.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09642	+0.200%	$242K	$469K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09640	+0.173%	$220K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09635	+0.125%	$43.8M	$103.4M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09639	+0.166%	$8.3M	$49.5M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09639	+0.166%	$3.0M	$3.6M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09631	+0.083%	$12.3M	$7.7M	100x	as long as short
KuCoin XPLUSDTMlong	+0.0100%	4h	0.09623	long leg	$2.3M	$1.4M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09638	+0.156%	$8.6M	$10.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09634	+0.114%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09615	−0.086%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09612	−0.119%	$252K	$983K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09620	−0.031%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09665	+0.433%	$125K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09630	+0.073%	$3K	$1.8M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09640	+0.177%	$200	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09612	−0.114%	$141K	$206K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09630	+0.073%	$140K	$5K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09631	+0.083%	$653K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09645	+0.230%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0334%	1h	0.09626	+0.031%	$195K	$617K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09643	+0.208%	$1.7M	$994K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0616%	1h	0.09676	+0.551%	$75K	$87K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3297%	1h	0.09676	+0.549%	$548K	$975K	10x	as long as short