Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0211%/8h= +23.1% APRpaid last 24h +0.024%

Price spread now: GRVT against Paradex+0.205%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 GRVT

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 · GRVT: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and GRVT is 0.205% dearer against Paradex than usual: you sell high and buy low: +$20 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex XPL-USD-PERP	0.09476	−0.0111	get 0.0111% / 8h	5h 57m	$12K	$696	5x
Short	GRVT XPL_USDT_Perp	0.09495	0.0100	get 0.0050% / 4h	1h 57m	$253K	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.205%Rate

Funding earned: $44.27
Price spread: +0.205% → 0.000%: $20.5
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $51.77
Costs to cover: 0.130%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; GRVT: live order book, 3 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 GRVT live order book, 3 min ago	5.27 bp	60.2 bp −$60	86.7 bp −$867	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 exchanges

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	−0.0736%	1h	0.09469	−0.071%	$4.3M	$3.0M	10x	as long as short
01 Exchange XPLUSD	−0.0528%	1h	0.09465	−0.113%	$550	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0412% / S +0.0674%	1h	0.09499	+0.250%	$105K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0382%	1h	0.09486	+0.109%	$47K	$18K	25x	as long as short
Bybit XPLUSDT	−0.0249%	4h	0.09479	+0.035%	$44.8M	$51.9M	75x	as long as short
Extended XPL-USD	−0.0152%	1h	0.09474	−0.014%	$601K	$1.1M	25x	as long as short
Paradex XPL-USD-PERPlong	−0.0111%	8h	0.09476	long leg	$12K	$696	5x
Orderly PERP_XPL_USDC	−0.0084%	4h	0.09481	+0.056%	$30K	$185K	10x	as long as short
OKX XPL-USDT-SWAP	−0.0054%	4h	0.09480	+0.045%	$7.5M	$46.2M	50x	as long as short
Binance XPLUSDT	−0.0022%	4h	0.09473	−0.029%	$43.5M	$95.5M	75x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC XPL_USDT	−0.0020%	4h	0.09475	−0.007%	$13.4M	$6.3M	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09489	+0.142%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.105%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09491	+0.164%	$72K	—	150x	as long as short
Gate XPL_USDT	+0.0022%	4h	0.09478	+0.024%	$2.9M	$3.2M	75x	as long as short
Aevo XPL-PERP	+0.0072%	1h	0.09480	+0.045%	$28K	$18K	3x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09484	+0.087%	$1.2M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09488	+0.127%	$60.2M	$42.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09484	+0.087%	$253K	$360K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09485	+0.097%	$217K	$46K	10x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09481	+0.056%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09487	+0.119%	$8.9M	$9.9M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09475	−0.007%	—	$7.7M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09491	+0.161%	$179K	$170K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09489	+0.143%	$1.7M	$1.7M	—	as long as short
GRVT XPL_USDT_Perpshort	+0.0100%	4h	0.09495	+0.205%	$253K	$1.3M	10x
ApeX Omni XPLUSDT	+0.0100%	1h	0.09500	+0.256%	$25K	$68K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09492	+0.177%	$124K	$1.2M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09470	−0.060%	$3K	$1.5M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09480	+0.045%	$180	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09487	+0.119%	$132K	$204K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09497	+0.230%	$138K	$5K	10x	as long as short
Phoenix XPL	+0.0166%	1h	0.09514	+0.404%	$192K	$434K	10x	as long as short
BloFin XPL-USDT	+0.0219%	4h	0.09494	+0.193%	$1.7M	$829K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0712%	1h	0.09538	+0.657%	$64K	$91K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.1344%	1h	0.09517	+0.435%	$544K	$976K	10x	as long as short