Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0223%/8h= +24.4% APRpaid last 24h +0.024%

Price spread now: SunX against Paradex−0.099%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 SunX

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

Funding pays, the price is against you. SunX is 0.099% cheaper against Paradex than usual: you would sell low and buy high (spread −0.099% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 35 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	0.09640	−0.0123	get 0.0123% / 8h	7h 10m	$13K	$696	5x
Short	SunX XPL-USDT	0.09630	0.0100	get 0.0050% / 4h	3h 10m	$3K	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.099%Rate

Funding earned: $46.82
Price spread: −0.099% → 0.000%: −$9.89
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee SunX: 4 bp × 2 orders: −$8
Net: $24.93
Costs to cover: 0.120%
Break-even: 3.3 days

Slippage unknown: Paradex: no order-book sample; SunX: 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 SunX live order book, 4 min ago	31.28 bp	146.0 bp −$146	doesn't fit	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	−0.1096%	1h	0.09632	−0.078%	$4.4M	$3.2M	10x	as long as short
Bybit XPLUSDT	−0.0461%	4h	0.09637	−0.026%	$45.7M	$54.1M	75x	as long as short
01 Exchange XPLUSD	−0.0432%	1h	0.09632	−0.078%	$560	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0311% / S +0.0615%	1h	0.09648	+0.087%	$107K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0165%	1h	0.09646	+0.067%	$46K	$16K	25x	as long as short
Paradex XPL-USD-PERPlong	−0.0123%	8h	0.09640	long leg	$13K	$696	5x
OKX XPL-USDT-SWAP	−0.0071%	4h	0.09636	−0.037%	$7.7M	$48.1M	50x	as long as short
Orderly PERP_XPL_USDC	−0.0034%	4h	0.09640	+0.005%	$30K	$234K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09639	−0.002%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.463%	—	—	—	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	+0.093%	$73K	—	150x	as long as short
Extended XPL-USD	+0.0008%	1h	0.09641	+0.016%	$610K	$1.2M	25x	as long as short
Gate XPL_USDT	+0.0056%	4h	0.09649	+0.098%	$3.0M	$3.4M	75x	as long as short
Binance XPLUSDT	+0.0087%	4h	0.09642	+0.027%	$44.1M	$98.3M	75x	as long as short
MEXC XPL_USDT	+0.0088%	4h	0.09644	+0.046%	$13.3M	$6.6M	100x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09635	−0.047%	$1.3M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09665	+0.261%	$61.2M	$45.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09657	+0.176%	$255K	$398K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09648	+0.085%	$220K	$47K	10x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09639	−0.006%	$2.3M	$1.3M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09653	+0.140%	$9.2M	$10.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09642	+0.026%	—	$7.7M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09653	+0.140%	$184K	$177K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09613	−0.279%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09608	−0.329%	$257K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09630	−0.099%	$25K	$73K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09651	+0.119%	$126K	$1.7M	10x	as long as short
SunX XPL-USDTshort	+0.0100%	4h	0.09630	−0.099%	$3K	$1.6M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09640	+0.005%	$185	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09606	−0.348%	$133K	$214K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09570	−0.721%	$139K	$0	10x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09638	−0.018%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09627	−0.130%	$195K	$494K	10x	as long as short
BloFin XPL-USDT	+0.0327%	4h	0.09634	−0.057%	$1.7M	$946K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0536%	1h	0.09659	+0.202%	$65K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2683%	1h	0.09668	+0.293%	$550K	$968K	10x	as long as short