Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0065%/8h= +7.2% APRpaid last 24h −0.009%

Price spread now: Paradex against Bybit+0.202%49s7-day average — · you sell dearer than you buy

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

Long on Bybit 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

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Paradex is 0.202% dearer against Bybit than usual: you sell high and buy low: +$20 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XPLUSDT	0.09592	−0.0006	get 0.0003% / 4h	1h 28m	$45.4M	$56.8M	75x
Short	Paradex XPL-USD-PERP	0.09611	0.0060	get 0.0060% / 8h	5h 28m	$12K	$2K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Bybit. 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 BybitbpFee ParadexbpOrdersPrice spread, now +0.202%Rate

Funding earned: $13.72
Price spread: +0.202% → 0.000%: $20.24
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Paradex: 2 bp × 2 orders: −$4
Net: $18.96
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Bybit: live order book, 5 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 Bybit live order book, 5 min ago	0.52 bp	12.7 bp −$13	35.2 bp −$352	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
Backpack XPL_USDC_PERP	−0.0420%	1h	0.09603	+0.115%	$181K	$243K	10x	as long as short
01 Exchange XPLUSD	−0.0416%	1h	0.09604	+0.125%	$558	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0255% / S +0.0580%	1h	0.09608	+0.169%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0062%	1h	0.09604	+0.125%	$46K	$18K	25x	as long as short
Bybit XPLUSDTlong	−0.0006%	4h	0.09592	long leg	$45.4M	$56.8M	75x
Orderly PERP_XPL_USDC	−0.0004%	4h	0.09601	+0.094%	$29K	$335K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09620	+0.292%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.072%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09609	+0.175%	$72K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0050%	4h	0.09596	+0.042%	$8.2M	$52.9M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPL-USD-PERPshort	+0.0060%	8h	0.09611	+0.202%	$12K	$2K	5x
Gate XPL_USDT	+0.0070%	4h	0.09600	+0.083%	$3.0M	$3.8M	75x	as long as short
Lighter XPL	+0.0096%	1h	0.09593	+0.010%	$4.3M	$4.2M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09607	+0.156%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09612	+0.211%	$60.3M	$48.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09605	+0.131%	$244K	$501K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09619	+0.283%	$219K	$48K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09600	+0.079%	$43.4M	$108.8M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09601	+0.094%	$12.3M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09603	+0.115%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09607	+0.156%	$8.5M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09600	+0.083%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09609	+0.172%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09615	+0.241%	$256K	$912K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09640	+0.500%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09616	+0.254%	$128K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09590	−0.021%	$2K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09600	+0.083%	$2K	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09610	+0.188%	$144K	$264K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09615	+0.240%	$140K	$7K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09597	+0.055%	$633K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09600	+0.083%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09628	+0.375%	$195K	$629K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09601	+0.094%	$1.7M	$1.0M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0672%	1h	0.09640	+0.500%	$74K	$93K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3565%	1h	0.09643	+0.531%	$547K	$1.0M	10x	as long as short