Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0038%/8h= −4.2% APRpaid last 24h −0.009%

Price spread now: Paradex against SunX+0.048%7-day average — · you sell dearer than you buy

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

Long on SunX 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 pays, funding is against you. Paradex is 0.048% dearer against SunX than usual: you sell high and buy low (spread +0.048% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XPL-USDT	0.09580	0.0100	pay 0.0050% / 4h	2h 21m	$2K	$1.7M	20x
Short	Paradex XPL-USD-PERP	0.09585	0.0062	get 0.0062% / 8h	2h 21m	$12K	$696	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against SunX. 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 SunXbpFee ParadexbpOrdersPrice spread, now +0.048%Rate

Funding earned: −$8
Price spread: +0.048% → 0.000%: $4.78
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$15.23
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 4 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 SunX live order book, 4 min ago	52.30 bp	165.1 bp −$165	doesn't fit	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
01 Exchange XPLUSD	−0.0272%	1h	0.09588	+0.084%	$557	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09607	+0.284%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0062%	1h	0.09611	+0.324%	$46K	$18K	25x	as long as short
Lighter XPL	0.0000%	1h	0.09605	+0.261%	$4.3M	$3.0M	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09587	+0.072%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.972%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09607	+0.283%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0009%	4h	0.09605	+0.261%	$29K	$306K	10x	as long as short
Paradex XPL-USD-PERPshort	+0.0062%	8h	0.09585	+0.048%	$12K	$696	5x
Nado XPL-PERP	+0.0100%	1h	0.09595	+0.159%	$1.2M	$2.4M	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	0.09629	+0.513%	$60.9M	$46.3M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09627	+0.490%	$253K	$428K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09594	+0.142%	$219K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09621	+0.428%	$43.6M	$100.0M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09615	+0.365%	$45.5M	$53.9M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09617	+0.386%	$8.1M	$48.4M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09581	+0.014%	$140K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09619	+0.407%	$3.1M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09619	+0.407%	$12.4M	$6.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09610	+0.313%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09625	+0.470%	$9.2M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09620	+0.418%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09625	+0.470%	$175K	$190K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09545	−0.366%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09557	−0.242%	$253K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09540	−0.418%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09614	+0.356%	$126K	$2.0M	10x	as long as short
SunX XPL-USDTlong	+0.0100%	4h	0.09580	long leg	$2K	$1.7M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09610	+0.313%	$206	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09592	+0.125%	$137K	$191K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09618	+0.400%	$604K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09616	+0.379%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09582	+0.021%	$194K	$536K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09560	−0.209%	$1.7M	$943K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0592%	1h	0.09605	+0.261%	$67K	$89K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2884%	1h	0.09641	+0.639%	$548K	$979K	10x	as long as short