Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0095%/8h= +10.4% APRpaid last 24h +0.047%

Price spread now: Paradex against 01 Exchange+0.011%7-day average — · you sell dearer than you buy

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

Long on 01 Exchange Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 3 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	01 Exchange XPLUSD	0.09764	0	get 0.0000% / 1h	30m 11s	$568	$582	5x
Short	Paradex XPL-USD-PERP	0.09765	0.0095	get 0.0095% / 8h	2h 30m	$13K	$2K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against 01 Exchange. 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 01 ExchangebpFee ParadexbpOrdersPrice spread, now +0.011%Rate

Funding earned: $19.91
Price spread: +0.011% → 0.000%: $1.12
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: $10.03
Costs to cover: 0.110%
Break-even: 3.5 days

Slippage unknown: 01 Exchange: no order-book sample; 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

01 Exchange and 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	−0.0120%	1h	0.09756	−0.082%	$4.4M	$4.3M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0077% / S +0.0484%	1h	0.09769	+0.050%	$112K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0015%	1h	0.09765	+0.010%	$178K	$283K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09754	−0.104%	$8K	—	5x	as long as short
01 Exchange XPLUSDlong	0.0000%	1h	0.09764	long leg	$568	$582	5x
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.464%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09771	+0.072%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09770	+0.059%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0083%	4h	0.09766	+0.020%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERPshort	+0.0095%	8h	0.09765	+0.011%	$13K	$2K	5x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XPL-PERP	+0.0100%	1h	0.09765	+0.013%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09773	+0.096%	$62.8M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09771	+0.068%	$253K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09761	−0.034%	$221K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09759	−0.050%	$44.1M	$104.6M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09757	−0.072%	$47.6M	$53.3M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09758	−0.061%	$9.0M	$53.1M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09740	−0.246%	$140K	$11K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09762	−0.020%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09764	0.000%	$12.8M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09758	−0.061%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09766	+0.020%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09758	−0.061%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09744	−0.204%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09764	−0.002%	$264K	$786K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09740	−0.246%	$25K	$86K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09776	+0.122%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09740	−0.246%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09760	−0.041%	$203	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09743	−0.215%	$138K	$245K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09765	+0.006%	$660K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09771	+0.076%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09736	−0.287%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09773	+0.092%	$198K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09844	+0.819%	$74K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3487%	1h	0.09806	+0.428%	$516K	$940K	10x	as long as short