Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0011%/8h= +1.2% APRpaid last 24h +0.001%

Price spread now: Bitget against Paradex+0.132%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Bitget

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 $0 a day on $10k at the current rate, and Bitget is 0.132% dearer against Paradex than usual: you sell high and buy low: +$13 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex XPL-USD-PERP	0.09703	0.0089	pay 0.0089% / 8h	2h 08m	$13K	$2K	5x
Short	Bitget XPLUSDT	0.09716	0.0100	get 0.0050% / 4h	2h 08m	$8.6M	$11.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.132%Rate

Funding earned: $2.39
Price spread: +0.132% → 0.000%: $13.2
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$0.42
Costs to cover: 0.160%
Break-even: 8.2 days

Slippage unknown: Paradex: no order-book sample; Bitget: live order book, just now. 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 Bitget live order book, just now	4.12 bp	15.0 bp −$15	35.9 bp −$359	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
GMX XPL/USD [WBTC.b-USDC]	L −0.0087% / S +0.0490%	1h	0.09714	+0.111%	$112K	—	100x	as long as short
Lighter XPL	−0.0080%	1h	0.09700	−0.033%	$4.4M	$4.3M	10x	as long as short
01 Exchange XPLUSD	−0.0064%	1h	0.09706	+0.029%	$564	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0059%	1h	0.09716	+0.132%	$47K	$18K	25x	as long as short
Backpack XPL_USDC_PERP	−0.0058%	1h	0.09715	+0.122%	$177K	$283K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09711	+0.084%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.979%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09714	+0.116%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0083%	4h	0.09710	+0.070%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERPlong	+0.0089%	8h	0.09703	long leg	$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	0.09705	+0.013%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09720	+0.168%	$62.4M	$47.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09716	+0.131%	$251K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09711	+0.085%	$220K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09712	+0.093%	$43.7M	$105.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09711	+0.080%	$47.3M	$53.6M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09710	+0.070%	$9.0M	$53.2M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09714	+0.111%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09711	+0.080%	$12.7M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09710	+0.070%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDTshort	+0.0100%	4h	0.09716	+0.132%	$8.6M	$11.1M	75x
BingX XPL-USDT	+0.0100%	4h	0.09713	+0.101%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09696	−0.071%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09724	+0.212%	$263K	$775K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09720	+0.173%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09720	+0.168%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09690	−0.136%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09710	+0.070%	$206	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09703	−0.002%	$138K	$246K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09695	−0.084%	$140K	$11K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09710	+0.069%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09715	+0.122%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09705	+0.019%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09742	+0.400%	$197K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09783	+0.822%	$74K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3501%	1h	0.09767	+0.659%	$515K	$944K	10x	as long as short