Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0014%/8h= −1.6% APRpaid last 24h −0.001%

Price spread now: Paradex against Bulk+0.096%7-day average — · you sell dearer than you buy

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

Long on Bulk 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 pays, funding is against you. Paradex is 0.096% dearer against Bulk than usual: you sell high and buy low (spread +0.096% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 23 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk XPL-USD	0.09714	0.0100	pay 0.0013% / 1h	8m 01s	$142K	$9K	10x
Short	Paradex XPL-USD-PERP	0.09724	0.0086	get 0.0086% / 8h	1h 08m	$13K	$2K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Bulk. 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 BulkbpFee ParadexbpOrdersPrice spread, now +0.096%Rate

Funding earned: −$2.97
Price spread: +0.096% → 0.000%: $9.56
Slippage, 4 orders: no order book: not counted
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$4.41
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bulk: live order book, 11 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 Bulk live order book, 11 min ago	5.15 bp	8.6 bp −$9	14.8 bp −$148	45.9 bp −$4,590	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
Backpack XPL_USDC_PERP	−0.0277%	1h	0.09708	−0.064%	$176K	$282K	10x	as long as short
01 Exchange XPLUSD	−0.0208%	1h	0.09717	+0.028%	$565	$708	5x	as long as short
Lighter XPL	−0.0192%	1h	0.09693	−0.219%	$4.4M	$4.1M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0116% / S +0.0510%	1h	0.09713	−0.017%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09721	+0.066%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.068%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09710	−0.044%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09712	−0.022%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0071%	4h	0.09706	−0.085%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERPshort	+0.0086%	8h	0.09724	+0.096%	$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	0.09715	+0.008%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09720	+0.054%	$62.9M	$47.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09709	−0.052%	$251K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09729	+0.155%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09707	−0.076%	$43.9M	$107.0M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09705	−0.095%	$47.8M	$54.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09702	−0.126%	$8.9M	$53.8M	50x	as long as short
Bulk XPL-USDlong	+0.0100%	1h	0.09714	long leg	$142K	$9K	10x
Gate XPL_USDT	+0.0100%	4h	0.09709	−0.054%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09703	−0.116%	$12.5M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09700	−0.147%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09711	−0.034%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09705	−0.095%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09707	−0.073%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09717	+0.027%	$259K	$787K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09720	+0.059%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09724	+0.105%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09710	−0.044%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09700	−0.147%	$446	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09719	+0.049%	$138K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09703	−0.121%	$655K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09711	−0.037%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09722	+0.080%	$1.7M	$1.1M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09727	+0.131%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09760	+0.471%	$72K	$104K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4595%	1h	0.09769	+0.561%	$561K	$996K	10x	as long as short