Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0621%/8h= −68.1% APRpaid last 24h −0.124%

Price spread now: GMX against Paradex+0.016%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 GMX

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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$19 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	0.09670	0.0060	pay 0.0060% / 8h	6h 24m	$13K	$2K	5x
Short	GMX XPL/USD [WBTC.b-USDC]	0.09671	L −0.0197% / S +0.0562%	pay 0.0070% / 1h	24m 46s	$111K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.016%Rate

Funding earned: −$130.51
Price spread: +0.016% → 0.000%: $1.6
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee GMX: 6 bp × 2 orders: −$12
Net: −$144.91
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; GMX: 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 GMX no order-book sample	—	—	—	—	—

Paradex and GMX: 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 35 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
01 Exchange XPLUSD	−0.0232%	1h	0.09663	−0.071%	$562	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]short	L −0.0197% / S +0.0562%	1h	0.09671	+0.016%	$111K	—	100x
Deribit XPL_USDC-PERPETUAL	−0.0163%	1h	0.09670	+0.002%	$46K	$18K	25x	as long as short
Backpack XPL_USDC_PERP	−0.0115%	1h	0.09668	−0.019%	$179K	$245K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09672	+0.018%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.707%	—	—	—	as long as short
Orderly PERP_XPL_USDC	+0.0001%	4h	0.09668	−0.019%	$29K	$335K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09671	+0.013%	$60K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0054%	4h	0.09653	−0.174%	$8.4M	$54.8M	50x	as long as short
Paradex XPL-USD-PERPlong	+0.0060%	8h	0.09670	long leg	$13K	$2K	5x

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPL	+0.0096%	1h	0.09662	−0.081%	$4.4M	$4.2M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09666	−0.035%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09671	+0.013%	$61.7M	$47.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09672	+0.026%	$246K	$513K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09671	+0.012%	$220K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09669	−0.009%	$44.0M	$110.1M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09654	−0.164%	$46.5M	$57.7M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09675	+0.056%	$141K	$7K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09664	−0.061%	$3.0M	$3.8M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09660	−0.102%	$12.7M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09667	−0.029%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09662	−0.081%	$8.6M	$11.3M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09670	+0.002%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09672	+0.021%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09674	+0.048%	$264K	$877K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09700	+0.312%	$25K	$86K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09676	+0.064%	$129K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09660	−0.102%	$2K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09660	−0.102%	$194	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09669	−0.009%	$143K	$258K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09666	−0.038%	$655K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09670	+0.002%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0328%	1h	0.09701	+0.322%	$196K	$657K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0496%	1h	0.09766	+0.994%	$78K	$95K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4404%	1h	0.09712	+0.435%	$551K	$1.0M	10x	as long as short