Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0045%/8h= +5.0% APRpaid last 24h +0.009%

Price spread now: MEXC against Paradex+0.032%46s7-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 MEXC

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 +$1 a day on $10k at the current rate, and MEXC is 0.032% 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). The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex XPL-USD-PERP	0.09562	0.0055	pay 0.0055% / 8h	1h 33m	$12K	$696	5x
Short	MEXC XPL_USDT	0.09565	0.0100	get 0.0050% / 4h	1h 33m	$12.5M	$6.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.032%Rate

Funding earned: $9.49
Price spread: +0.032% → 0.000%: $3.24
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee MEXC: 0 bp × 2 orders: $0
Net: $8.73
Costs to cover: 0.040%
Break-even: 0.6 days

Slippage unknown: Paradex: no order-book sample; MEXC: live order book, 4 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 MEXC live order book, 4 min ago	2.08 bp	6.3 bp −$6	10.1 bp −$101	73.9 bp −$7,385	226.0 bp −$113.0K

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	−0.1136%	1h	0.09552	−0.104%	$4.3M	$3.2M	10x	as long as short
01 Exchange XPLUSD	−0.0368%	1h	0.09558	−0.041%	$556	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09564	+0.027%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0273%	1h	0.09563	+0.011%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	−0.0002%	4h	0.09560	−0.020%	$30K	$267K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09569	+0.077%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.826%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09568	+0.063%	$72K	—	150x	as long as short
Paradex XPL-USD-PERPlong	+0.0055%	8h	0.09562	long leg	$12K	$696	5x
Nado XPL-PERP	+0.0100%	1h	0.09559	−0.030%	$1.2M	$2.2M	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	0.09578	+0.164%	$60.5M	$46.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09575	+0.140%	$253K	$415K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09570	+0.085%	$219K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09565	+0.030%	$43.3M	$97.2M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09565	+0.032%	$45.6M	$53.2M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09569	+0.074%	$7.9M	$47.7M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09595	+0.346%	$140K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09567	+0.053%	$3.0M	$3.4M	75x	as long as short
MEXC XPL_USDTshort	+0.0100%	4h	0.09565	+0.032%	$12.5M	$6.8M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09563	+0.011%	$2.3M	$1.3M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09573	+0.116%	$8.8M	$9.6M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09566	+0.043%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09568	+0.064%	$176K	$188K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09540	−0.231%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09580	+0.189%	$256K	$1.2M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09590	+0.294%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09570	+0.084%	$125K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09550	−0.124%	$2K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09560	−0.020%	$201	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09556	−0.062%	$132K	$215K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09566	+0.040%	$602K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09561	−0.005%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09570	+0.085%	$194K	$506K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09556	−0.062%	$1.7M	$931K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.09718	+1.632%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2855%	1h	0.09591	+0.302%	$543K	$933K	10x	as long as short