Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0090%/8h= +9.9% APRpaid last 24h +0.001%

Price spread now: Bybit against Paradex+0.013%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Bybit

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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex XPL-USD-PERP	0.09763	0.0010	pay 0.0010% / 8h	6m 33s	$13K	$2K	5x
Short	Bybit XPLUSDT	0.09764	0.0100	get 0.0050% / 4h	6m 33s	$47.3M	$55.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Paradex. 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 ParadexbpFee BybitbpOrdersPrice spread, now +0.013%Rate

Funding earned: $18.99
Price spread: +0.013% → 0.000%: $1.28
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $5.27
Costs to cover: 0.150%
Break-even: 5.1 days

Slippage unknown: Paradex: no order-book sample; Bybit: live order book, 2 min ago. 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 Paradex no order-book sample	—	—	—	—	—
Sell Bybit live order book, 2 min ago	0.51 bp	13.6 bp −$14	34.6 bp −$346	doesn't fit	doesn't fit

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	−0.0536%	1h	0.09747	−0.161%	$4.4M	$4.2M	10x	as long as short
01 Exchange XPLUSD	−0.0376%	1h	0.09759	−0.038%	$567	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0364%	1h	0.09763	+0.003%	$47K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0146% / S +0.0529%	1h	0.09764	+0.014%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09762	−0.011%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.456%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09764	+0.014%	$76K	—	150x	as long as short
Paradex XPL-USD-PERPlong	+0.0010%	8h	0.09763	long leg	$13K	$2K	5x
Orderly PERP_XPL_USDC	+0.0038%	4h	0.09760	−0.028%	$29K	$335K	10x	as long as short
Gate XPL_USDT	+0.0042%	4h	0.09761	−0.018%	$3.0M	$4.1M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XPL-PERP	+0.0100%	1h	0.09762	−0.003%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09776	+0.138%	$63.0M	$48.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09770	+0.074%	$253K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09769	+0.064%	$222K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09764	+0.013%	$44.5M	$108.7M	75x	as long as short
Bybit XPLUSDTshort	+0.0100%	4h	0.09764	+0.013%	$47.3M	$55.7M	75x
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09762	−0.008%	$8.7M	$55.0M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09760	−0.028%	$142K	$9K	10x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09760	−0.028%	$12.8M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09763	+0.003%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09771	+0.084%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09762	−0.008%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09763	+0.003%	$181K	$282K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09698	−0.662%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09750	−0.131%	$258K	$814K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09780	+0.177%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09774	+0.118%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09740	−0.233%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09760	−0.028%	$204	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09755	−0.079%	$141K	$242K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09761	−0.022%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09769	+0.060%	$38K	$5K	3x	as long as short
Phoenix XPL	+0.0327%	1h	0.09778	+0.156%	$198K	$651K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09746	−0.172%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0568%	1h	0.09735	−0.284%	$72K	$96K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5089%	1h	0.09809	+0.476%	$566K	$1.0M	10x	as long as short