Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0046%/8h= −5.0% APRpaid last 24h −0.010%

Price spread now: Paradex against Nado−0.024%7-day average — · you buy dearer than you sell

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

Long on Nado Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropNado: Active · Paradex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Paradex is 0.024% cheaper against Nado than usual: you would sell low and buy high (−$2 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	Nado XPL-PERP	0.09595	0.0100	pay 0.0012% / 1h	36m 46s	$1.2M	$2.8M	10x
Short	Paradex XPL-USD-PERP	0.09593	0.0054	get 0.0054% / 8h	5h 36m	$12K	$2K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Nado. 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 NadobpFee ParadexbpOrdersPrice spread, now −0.024%Rate

Funding earned: −$9.65
Price spread: −0.024% → 0.000%: −$2.37
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$23.02
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Nado: 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 Nado live order book, 2 min ago	1.04 bp	7.2 bp −$7	17.8 bp −$178	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	−0.0600%	1h	0.09605	+0.104%	$181K	$242K	10x	as long as short
01 Exchange XPLUSD	−0.0440%	1h	0.09583	−0.125%	$557	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0250% / S +0.0577%	1h	0.09605	+0.099%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0062%	1h	0.09602	+0.073%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	−0.0005%	4h	0.09598	+0.031%	$29K	$335K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09588	−0.073%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.097%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09605	+0.108%	$72K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0034%	4h	0.09602	+0.073%	$8.2M	$53.0M	50x	as long as short
Lighter XPL	+0.0048%	1h	0.09601	+0.063%	$4.3M	$4.2M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPL-USD-PERPshort	+0.0054%	8h	0.09593	−0.024%	$12K	$2K	5x
Gate XPL_USDT	+0.0078%	4h	0.09600	+0.052%	$3.0M	$3.7M	75x	as long as short
Nado XPL-PERPlong	+0.0100%	1h	0.09595	long leg	$1.2M	$2.8M	10x
Hyperliquid XPL	+0.0100%	1h	0.09610	+0.156%	$60.4M	$48.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09606	+0.111%	$244K	$501K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09588	−0.069%	$219K	$48K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09598	+0.031%	$43.4M	$108.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09594	−0.010%	$45.5M	$56.7M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09540	−0.573%	$139K	$7K	10x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09598	+0.031%	$12.4M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09601	+0.063%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09607	+0.125%	$8.5M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09596	+0.010%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09587	−0.087%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09583	−0.122%	$255K	$912K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09590	−0.052%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09609	+0.146%	$128K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09580	−0.156%	$3K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09600	+0.052%	$2K	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09580	−0.156%	$144K	$264K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09595	+0.001%	$633K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09596	+0.006%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09608	+0.135%	$195K	$629K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09595	0.000%	$1.7M	$1.0M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0672%	1h	0.09640	+0.469%	$74K	$93K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3569%	1h	0.09631	+0.376%	$546K	$1.0M	10x	as long as short