Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0150%/8h= +16.4% APRpaid last 24h +0.009%

Price spread now: Polymarket Perps against Paradex+0.076%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 Polymarket Perps

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 +$5 a day on $10k at the current rate, and Polymarket Perps is 0.076% dearer against Paradex than usual: you sell high and buy low: +$8 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	0.09564	−0.0050	get 0.0050% / 8h	0m 27s	$12K	$696	5x
Short	Polymarket Perps XPL-USD	0.09571	0.0100	get 0.0013% / 1h	0m 27s	$125K	$1.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.076%Rate

Funding earned: $31.52
Price spread: +0.076% → 0.000%: $7.6
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $27.12
Costs to cover: 0.120%
Break-even: 1.0 days

Slippage unknown: Paradex: no order-book sample; Polymarket Perps: 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 Polymarket Perps live order book, 3 min ago	2.56 bp	8.8 bp −$9	9.1 bp −$91	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	−0.1344%	1h	0.09551	−0.138%	$4.3M	$3.2M	10x	as long as short
01 Exchange XPLUSD	−0.0448%	1h	0.09559	−0.055%	$556	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09579	+0.159%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0167%	1h	0.09579	+0.154%	$46K	$18K	25x	as long as short
Bybit XPLUSDT	−0.0059%	4h	0.09556	−0.086%	$45.5M	$53.9M	75x	as long as short
Paradex XPL-USD-PERPlong	−0.0050%	8h	0.09564	long leg	$12K	$696	5x
Orderly PERP_XPL_USDC	−0.0026%	4h	0.09559	−0.055%	$30K	$277K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09571	+0.072%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.843%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09580	+0.163%	$72K	—	150x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX XPL-USDT-SWAP	+0.0015%	4h	0.09555	−0.096%	$7.7M	$47.6M	50x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09561	−0.031%	$1.3M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09581	+0.170%	$60.6M	$46.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09569	+0.049%	$253K	$406K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09570	+0.060%	$219K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09557	−0.076%	$43.3M	$97.7M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09563	−0.011%	$139K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09569	+0.050%	$2.9M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09557	−0.076%	$12.4M	$6.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09561	−0.034%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09570	+0.060%	$9.0M	$9.8M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09557	−0.076%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09579	+0.154%	$179K	$180K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09567	+0.031%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09571	+0.070%	$257K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09580	+0.165%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USDshort	+0.0100%	1h	0.09571	+0.076%	$125K	$1.7M	10x
SunX XPL-USDT	+0.0100%	4h	0.09550	−0.149%	$3K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09570	+0.060%	$194	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09565	+0.008%	$132K	$212K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09561	−0.037%	$595K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09553	−0.118%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0249%	1h	0.09583	+0.196%	$194K	$495K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09571	+0.071%	$1.7M	$931K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0808%	1h	0.09596	+0.332%	$64K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2734%	1h	0.09596	+0.334%	$542K	$940K	10x	as long as short