Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0092%/8h= −10.1% APRpaid last 24h −0.009%

Price spread now: Paradex against Polymarket Perps+0.016%7-day average — · you sell dearer than you buy

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

Long on Polymarket Perps Short on Paradex

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps XPL-USD	0.09612	0.0100	pay 0.0013% / 1h	40m 59s	$126K	$1.8M	10x
Short	Paradex XPL-USD-PERP	0.09614	0.0008	get 0.0008% / 8h	40m 59s	$12K	$696	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Polymarket Perps. 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 Polymarket PerpsbpFee ParadexbpOrdersPrice spread, now +0.016%Rate

Funding earned: −$19.28
Price spread: +0.016% → 0.000%: $1.6
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$29.69
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Polymarket Perps: live order book, 3 min ago; Paradex: no order-book sample. 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 Polymarket Perps live order book, 3 min ago	2.29 bp	6.3 bp −$6	7.3 bp −$73	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

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	−0.1384%	1h	0.09564	−0.502%	$4.3M	$3.2M	10x	as long as short
01 Exchange XPLUSD	−0.0480%	1h	0.09594	−0.190%	$558	$873	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0480%	1h	0.09585	−0.284%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09584	−0.296%	$106K	—	100x	as long as short
Orderly PERP_XPL_USDC	−0.0017%	4h	0.09583	−0.305%	$30K	$246K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09610	−0.028%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.239%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09586	−0.273%	$72K	—	150x	as long as short
Paradex XPL-USD-PERPshort	+0.0008%	8h	0.09614	+0.016%	$12K	$696	5x
Bybit XPLUSDT	+0.0055%	4h	0.09568	−0.461%	$45.6M	$53.7M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XPL-PERP	+0.0100%	1h	0.09583	−0.305%	$1.2M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09589	−0.237%	$60.6M	$46.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09582	−0.317%	$253K	$419K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09611	−0.010%	$220K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09570	−0.440%	$43.3M	$97.9M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09568	−0.461%	$7.7M	$47.7M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09577	−0.366%	$140K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09585	−0.284%	$3.0M	$3.3M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09582	−0.315%	$12.5M	$6.5M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09575	−0.388%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09579	−0.346%	$9.0M	$9.9M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09575	−0.388%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09583	−0.305%	$179K	$188K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09607	−0.059%	$1.7M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09606	−0.062%	$255K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09610	−0.024%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USDlong	+0.0100%	1h	0.09612	long leg	$126K	$1.8M	10x
SunX XPL-USDT	+0.0100%	4h	0.09590	−0.232%	$2K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09580	−0.336%	$196	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09576	−0.378%	$132K	$213K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09578	−0.355%	$601K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09581	−0.330%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0249%	1h	0.09605	−0.076%	$194K	$495K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09610	−0.024%	$1.7M	$930K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0808%	1h	0.09569	−0.450%	$64K	$91K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2726%	1h	0.09623	+0.110%	$546K	$930K	10x	as long as short