Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0076%/8h= −8.3% APRpaid last 24h −0.027%

Price spread now: gTrade (Gains Network) against Paradex+0.069%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 gTrade (Gains Network)

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 airdropParadex: Active · farm boardneeds both histories

The price spread pays, funding is against you. gTrade (Gains Network) is 0.069% dearer against Paradex than usual: you sell high and buy low (spread +0.069% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex XPL-USD-PERP	0.09797	0.0080	pay 0.0080% / 8h	48m 21s	$13K	$2K	5x
Short	gTrade (Gains Network) XPL/USD	0.09803	L +0.0005% / S −0.0004%	get 0.0000% / 1h	48m 21s	$72K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now +0.069%Rate

Funding earned: −$15.99
Price spread: +0.069% → 0.000%: $6.86
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$23.13
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; gTrade (Gains Network): 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—

Paradex and gTrade (Gains Network): 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	−0.0448%	1h	0.09794	−0.026%	$4.4M	$4.1M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0260%	1h	0.09800	+0.036%	$47K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0248%	1h	0.09797	+0.005%	$570	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0126% / S +0.0516%	1h	0.09804	+0.073%	$113K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09809	+0.125%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.724%	—	—	—	as long as short
gTrade (Gains Network) XPL/USDshort	L +0.0005% / S −0.0004%	1h	0.09803	+0.069%	$72K	—	150x
Orderly PERP_XPL_USDC	+0.0064%	4h	0.09799	+0.025%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERPlong	+0.0080%	8h	0.09797	long leg	$13K	$2K	5x
Nado XPL-PERP	+0.0100%	1h	0.09804	+0.082%	$1.4M	$2.6M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid XPL	+0.0100%	1h	0.09816	+0.194%	$63.5M	$47.9M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09806	+0.101%	$254K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09811	+0.145%	$223K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09796	−0.005%	$44.5M	$107.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09799	+0.025%	$48.0M	$55.0M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09793	−0.036%	$8.9M	$54.5M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09796	−0.005%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09797	+0.005%	$12.8M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09801	+0.046%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09807	+0.107%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09797	+0.005%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09804	+0.076%	$178K	$279K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09800	+0.038%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09798	+0.011%	$262K	$796K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09800	+0.036%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09810	+0.142%	$131K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09780	−0.169%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09800	+0.036%	$451	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09801	+0.046%	$139K	$246K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09800	+0.035%	$143K	$9K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09794	−0.023%	$660K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09802	+0.051%	$38K	$5K	3x	as long as short
Phoenix XPL	+0.0327%	1h	0.09824	+0.281%	$199K	$651K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09797	+0.005%	$1.7M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0568%	1h	0.09825	+0.291%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5067%	1h	0.09853	+0.573%	$567K	$1.0M	10x	as long as short