Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0014%/8h= +1.6% APRpaid last 24h −0.003%

Price spread now: Extended against Paradex−0.144%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Extended

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 · Extended: Active · farm boardneeds both histories

Funding pays, the price is against you. Extended is 0.144% cheaper against Paradex than usual: you would sell low and buy high (spread −0.144% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$14 on $10k: about 34 days of funding at the current rate ($0 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex XPL-USD-PERP	0.09717	0.0090	pay 0.0090% / 8h	1h 36m	$13K	$2K	5x
Short	Extended XPL-USD	0.09703	0.0104	get 0.0013% / 1h	36m 51s	$657K	$1.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.144%Rate

Funding earned: $2.99
Price spread: −0.144% → 0.000%: −$14.45
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$20.46
Costs to cover: 0.090%
Break-even: 54.9 days

Slippage unknown: Paradex: no order-book sample; Extended: live order book, 1 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 Extended live order book, 1 min ago	2.05 bp	6.6 bp −$7	20.4 bp −$204	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
Backpack XPL_USDC_PERP	−0.0332%	1h	0.09707	−0.107%	$177K	$281K	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0265%	1h	0.09705	−0.128%	$47K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0208%	1h	0.09714	−0.035%	$565	$708	5x	as long as short
Lighter XPL	−0.0168%	1h	0.09692	−0.262%	$4.4M	$4.1M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0102% / S +0.0500%	1h	0.09716	−0.019%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09729	+0.119%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.096%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09710	−0.074%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0078%	4h	0.09704	−0.138%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERPlong	+0.0090%	8h	0.09717	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	0.09719	+0.021%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09721	+0.038%	$62.7M	$47.5M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09713	−0.046%	$251K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09727	+0.101%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09700	−0.183%	$43.6M	$106.3M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09704	−0.138%	$47.2M	$54.0M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09702	−0.159%	$8.9M	$53.4M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09750	+0.333%	$140K	$8K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09703	−0.149%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09705	−0.128%	$12.6M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09712	−0.056%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09710	−0.077%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09701	−0.169%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09747	+0.308%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09740	+0.233%	$262K	$777K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09750	+0.335%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09721	+0.039%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09690	−0.282%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09700	−0.179%	$446	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09743	+0.263%	$138K	$246K	20x	as long as short
Extended XPL-USDshort	+0.0104%	1h	0.09703	−0.144%	$657K	$1.1M	25x
Aevo XPL-PERP	+0.0104%	1h	0.09709	−0.091%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09716	−0.015%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09762	+0.459%	$198K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09760	+0.438%	$72K	$104K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4608%	1h	0.09743	+0.259%	$510K	$956K	10x	as long as short