Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0189%/8h= +20.7% APRpaid last 24h +0.024%

Price spread now: KuCoin against Paradex+0.027%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 KuCoin

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 +$6 a day on $10k at the current rate, and KuCoin is 0.027% dearer against Paradex than usual: you sell high and buy low: +$3 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	0.09540	−0.0089	get 0.0089% / 8h	7h 45m	$12K	$696	5x
Short	KuCoin XPLUSDTM	0.09543	0.0100	get 0.0050% / 4h	3h 45m	$2.3M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.027%Rate

Funding earned: $39.77
Price spread: +0.027% → 0.000%: $2.65
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $26.42
Costs to cover: 0.160%
Break-even: 2.3 days

Slippage unknown: Paradex: no order-book sample; KuCoin: 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 KuCoin live order book, 1 min ago	6.28 bp	29.3 bp −$29	157.4 bp −$1,574	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
Lighter XPL	−0.1368%	1h	0.09534	−0.068%	$4.3M	$3.1M	10x	as long as short
01 Exchange XPLUSD	−0.0424%	1h	0.09539	−0.015%	$555	$873	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0378%	1h	0.09553	+0.131%	$46K	$18K	25x	as long as short
Bybit XPLUSDT	−0.0239%	4h	0.09542	+0.016%	$45.4M	$54.0M	75x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09557	+0.174%	$106K	—	100x	as long as short
Paradex XPL-USD-PERPlong	−0.0089%	8h	0.09540	long leg	$12K	$696	5x
Orderly PERP_XPL_USDC	−0.0026%	4h	0.09549	+0.089%	$30K	$271K	10x	as long as short
OKX XPL-USDT-SWAP	−0.0012%	4h	0.09539	−0.015%	$7.6M	$47.4M	50x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09560	+0.203%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.646%	—	—	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09558	+0.186%	$72K	—	150x	as long as short
Gate XPL_USDT	+0.0086%	4h	0.09544	+0.037%	$2.9M	$3.3M	75x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09553	+0.137%	$1.3M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09560	+0.203%	$60.5M	$46.0M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09554	+0.139%	$252K	$404K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09554	+0.140%	$219K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09542	+0.016%	$43.4M	$97.8M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09542	+0.016%	$12.5M	$6.5M	100x	as long as short
KuCoin XPLUSDTMshort	+0.0100%	4h	0.09543	+0.027%	$2.3M	$1.2M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09555	+0.152%	$9.0M	$9.8M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09542	+0.016%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09556	+0.163%	$179K	$180K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09547	+0.068%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09540	−0.003%	$256K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09560	+0.205%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09560	+0.205%	$125K	$1.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09540	−0.005%	$3K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09550	+0.100%	$190	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09558	+0.184%	$132K	$210K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09540	−0.001%	$139K	$0	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09541	+0.006%	$595K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09550	+0.100%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09563	+0.236%	$194K	$494K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09569	+0.299%	$1.7M	$930K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0536%	1h	0.09596	+0.582%	$64K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2703%	1h	0.09595	+0.572%	$544K	$943K	10x	as long as short