Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0047%/8h= +5.1% APRpaid last 24h +0.009%

Price spread now: Aster against Paradex−0.089%49s7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Aster

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 · Aster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. Aster is 0.089% cheaper against Paradex than usual: you would sell low and buy high (spread −0.089% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 6.4 days of funding at the current rate (+$1 a day). 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	Paradex XPL-USD-PERP	0.09718	0.0053	pay 0.0053% / 8h	6h 46m	$13K	$2K	5x
Short	Aster XPLUSDT	0.09710	0.0100	get 0.0050% / 4h	2h 46m	$247K	$555K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Paradex. 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 ParadexbpFee AsterbpOrdersPrice spread, now −0.089%Rate

Funding earned: $9.85
Price spread: −0.089% → 0.000%: −$8.95
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Aster: 4 bp × 2 orders: −$8
Net: −$11.1
Costs to cover: 0.120%
Break-even: 14.9 days

Slippage unknown: Paradex: no order-book sample; Aster: live order book, 21 min ago. 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 Paradex no order-book sample	—	—	—	—	—
Sell Aster live order book, 21 min ago	3.53 bp	18.3 bp −$18	119.3 bp −$1,193	doesn't fit	doesn't fit

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	−0.0264%	1h	0.09711	−0.075%	$565	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0186% / S +0.0554%	1h	0.09708	−0.103%	$112K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0099%	1h	0.09707	−0.116%	$179K	$243K	10x	as long as short
Lighter XPL	−0.0072%	1h	0.09694	−0.250%	$4.4M	$4.2M	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09716	−0.028%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.097%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09692	−0.270%	$46K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09708	−0.105%	$78K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0007%	4h	0.09699	−0.198%	$29K	$335K	10x	as long as short
OKX XPL-USDT-SWAP	+0.0050%	4h	0.09700	−0.188%	$8.5M	$56.0M	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-PERPlong	+0.0053%	8h	0.09718	long leg	$13K	$2K	5x
Nado XPL-PERP	+0.0100%	1h	0.09704	−0.147%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09718	−0.005%	$62.9M	$47.9M	10x	as long as short
Aster XPLUSDTshort	+0.0100%	4h	0.09710	−0.089%	$247K	$555K	20x
Pacifica XPL	+0.0100%	1h	0.09709	−0.096%	$221K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09705	−0.137%	$44.2M	$110.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09697	−0.219%	$46.8M	$58.0M	75x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09702	−0.167%	$3.0M	$3.8M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09705	−0.136%	$12.9M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09692	−0.270%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09701	−0.178%	$8.6M	$11.4M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09703	−0.157%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09693	−0.260%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09719	+0.005%	$265K	$858K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09720	+0.018%	$25K	$89K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09719	+0.007%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09680	−0.394%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09700	−0.188%	$200	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09708	−0.106%	$142K	$255K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09710	−0.082%	$141K	$7K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09699	−0.203%	$650K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09685	−0.347%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0328%	1h	0.09643	−0.774%	$195K	$657K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09706	−0.126%	$1.8M	$1.1M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0496%	1h	0.09746	+0.285%	$80K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4394%	1h	0.09735	+0.171%	$551K	$1.0M	10x	as long as short