Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.2804%/8h= +307.1% APRpaid last 24h +0.600%

Price spread now: Kraken Futures against Paradex+0.479%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 Kraken Futures

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

Both sides work for this trade now. Funding pays +$84 a day on $10k at the current rate, and Kraken Futures is 0.479% dearer against Paradex than usual: you sell high and buy low: +$48 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	0.09644	0.0065	pay 0.0065% / 8h	2h 14m	$13K	$696	5x
Short	Kraken Futures PF_XPLUSD	0.09690	0.2869	get 0.0359% / 1h	14m 16s	$551K	$958K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.479%Rate

Funding earned: $588.92
Price spread: +0.479% → 0.000%: $47.91
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $622.83
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; Kraken Futures: live order book, 29 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 Kraken Futures live order book, 29 min ago	11.46 bp	29.6 bp −$30	508.4 bp −$5,084	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
01 Exchange XPLUSD	−0.0272%	1h	0.09645	+0.009%	$561	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09658	+0.140%	$107K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09646	+0.018%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.498%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09660	+0.165%	$46K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09658	+0.140%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0007%	4h	0.09654	+0.103%	$29K	$306K	10x	as long as short
Lighter XPL	+0.0024%	1h	0.09633	−0.115%	$4.4M	$3.0M	10x	as long as short
Paradex XPL-USD-PERPlong	+0.0065%	8h	0.09644	long leg	$13K	$696	5x
Nado XPL-PERP	+0.0100%	1h	0.09651	+0.072%	$1.2M	$2.3M	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	0.09669	+0.258%	$61.1M	$46.5M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09660	+0.162%	$254K	$426K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09647	+0.031%	$221K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09655	+0.114%	$43.7M	$99.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09655	+0.113%	$45.7M	$53.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09657	+0.134%	$8.1M	$48.7M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09581	−0.650%	$140K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09651	+0.072%	$3.1M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09649	+0.051%	$12.5M	$6.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09644	−0.001%	$2.3M	$1.3M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09664	+0.206%	$9.2M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09653	+0.092%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09645	+0.009%	$175K	$189K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09638	−0.064%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09637	−0.073%	$258K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09650	+0.061%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09663	+0.196%	$126K	$1.9M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09640	−0.043%	$3K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09660	+0.165%	$210	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09639	−0.053%	$137K	$191K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09654	+0.102%	$606K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09650	+0.058%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09657	+0.134%	$196K	$536K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09637	−0.074%	$1.7M	$944K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0592%	1h	0.09704	+0.621%	$67K	$90K	50x	as long as short
Kraken Futures PF_XPLUSDshort	+0.2869%	1h	0.09690	+0.479%	$551K	$958K	10x