Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0095%/8h= −10.4% APRpaid last 24h −0.029%

Price spread now: dYdX against Paradex+0.030%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 dYdX

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. dYdX is 0.030% dearer against Paradex than usual: you sell high and buy low (spread +0.030% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 26 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex XPL-USD-PERP	0.09790	0.0095	pay 0.0095% / 8h	2h 23m	$13K	$2K	5x
Short	dYdX XPL-USD	0.09793	0	get 0.0000% / 1h	23m 33s	$8K	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.030%Rate

Funding earned: −$19.96
Price spread: +0.030% → 0.000%: $3.05
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$30.91
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; dYdX: 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 Paradex no order-book sample	—	—	—	—	—
Sell dYdX no order-book sample	—	—	—	—	—

Paradex and dYdX: 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
GMX XPL/USD [WBTC.b-USDC]	L −0.0079% / S +0.0485%	1h	0.09798	+0.087%	$113K	—	100x	as long as short
Lighter XPL	−0.0056%	1h	0.09781	−0.087%	$4.4M	$4.3M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0056%	1h	0.09804	+0.148%	$47K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0016%	1h	0.09791	+0.015%	$569	$582	5x	as long as short
dYdX XPL-USDshort	0.0000%	1h	0.09793	+0.030%	$8K	—	5x
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.666%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09798	+0.086%	$72K	—	150x	as long as short
Backpack XPL_USDC_PERP	+0.0026%	1h	0.09803	+0.138%	$179K	$283K	10x	as long as short
Orderly PERP_XPL_USDC	+0.0083%	4h	0.09794	+0.046%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERPlong	+0.0095%	8h	0.09790	long leg	$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	0.09799	+0.094%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09806	+0.169%	$63.0M	$47.0M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09800	+0.108%	$253K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09793	+0.034%	$222K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09787	−0.023%	$44.2M	$104.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09788	−0.016%	$47.8M	$53.4M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09786	−0.036%	$9.1M	$53.3M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09740	−0.506%	$140K	$11K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09794	+0.046%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09793	+0.035%	$12.8M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09786	−0.036%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09793	+0.035%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09789	−0.005%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09812	+0.231%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09807	+0.178%	$265K	$786K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09810	+0.209%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09804	+0.144%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09780	−0.097%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09800	+0.107%	$205	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09794	+0.046%	$139K	$245K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09788	−0.019%	$664K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09801	+0.119%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09811	+0.219%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09825	+0.362%	$199K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09832	+0.434%	$74K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3470%	1h	0.09854	+0.659%	$519K	$941K	10x	as long as short