Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0222%/8h= +24.3% APRpaid last 24h +0.025%

Price spread now: Nado against Paradex−0.038%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Paradex Short on Nado

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 · Nado: Active · farm boardneeds both histories

Funding pays, the price is against you. Nado is 0.038% cheaper against Paradex than usual: you would sell low and buy high (spread −0.038% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 14 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex XPL-USD-PERP	0.09645	−0.0122	get 0.0122% / 8h	7h 09m	$13K	$696	5x
Short	Nado XPL-PERP	0.09642	0.0100	get 0.0012% / 1h	9m 49s	$1.3M	$2.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.038%Rate

Funding earned: $46.53
Price spread: −0.038% → 0.000%: −$3.78
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $31.74
Costs to cover: 0.110%
Break-even: 2.2 days

Slippage unknown: Paradex: no order-book sample; Nado: 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 Nado live order book, 4 min ago	1.04 bp	7.8 bp −$8	23.3 bp −$233	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	−0.1080%	1h	0.09637	−0.084%	$4.4M	$3.2M	10x	as long as short
Bybit XPLUSDT	−0.0442%	4h	0.09648	+0.030%	$45.7M	$54.1M	75x	as long as short
01 Exchange XPLUSD	−0.0432%	1h	0.09640	−0.053%	$560	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0311% / S +0.0615%	1h	0.09652	+0.067%	$107K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0164%	1h	0.09646	+0.009%	$46K	$16K	25x	as long as short
Paradex XPL-USD-PERPlong	−0.0122%	8h	0.09645	long leg	$13K	$696	5x
OKX XPL-USDT-SWAP	−0.0069%	4h	0.09648	+0.030%	$7.7M	$48.2M	50x	as long as short
Orderly PERP_XPL_USDC	−0.0034%	4h	0.09642	−0.033%	$30K	$232K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09651	+0.059%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.508%	—	—	—	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	0.09648	+0.035%	$73K	—	150x	as long as short
Extended XPL-USD	+0.0008%	1h	0.09638	−0.075%	$610K	$1.2M	25x	as long as short
Gate XPL_USDT	+0.0074%	4h	0.09649	+0.040%	$3.0M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0086%	4h	0.09642	−0.033%	$13.3M	$6.6M	100x	as long as short
Binance XPLUSDT	+0.0087%	4h	0.09645	−0.002%	$44.1M	$98.3M	75x	as long as short
Nado XPL-PERPshort	+0.0100%	1h	0.09642	−0.038%	$1.3M	$2.2M	10x
Hyperliquid XPL	+0.0100%	1h	0.09666	+0.220%	$61.2M	$45.4M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09653	+0.078%	$255K	$398K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09651	+0.065%	$221K	$47K	10x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09634	−0.116%	$2.3M	$1.3M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09659	+0.144%	$9.2M	$10.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09649	+0.040%	—	$7.7M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09650	+0.050%	$183K	$173K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09647	+0.018%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09608	−0.387%	$257K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09630	−0.157%	$25K	$73K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09652	+0.071%	$126K	$1.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09630	−0.157%	$2K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09640	−0.053%	$190	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09642	−0.033%	$134K	$214K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09570	−0.779%	$139K	$0	10x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09640	−0.053%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09627	−0.188%	$195K	$494K	10x	as long as short
BloFin XPL-USDT	+0.0327%	4h	0.09634	−0.116%	$1.7M	$946K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0536%	1h	0.09670	+0.258%	$65K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2682%	1h	0.09671	+0.270%	$550K	$968K	10x	as long as short