Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0278%/8h= +30.4% APRpaid last 24h +0.081%

Price spread now: BloFin against Paradex+0.032%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 BloFin

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 +$8 a day on $10k at the current rate, and BloFin is 0.032% dearer against Paradex than usual: you sell high and buy low: +$3 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	0.09615	0.0062	pay 0.0062% / 8h	1h 25m	$12K	$696	5x
Short	BloFin XPL-USDT	0.09618	0.0340	get 0.0170% / 4h	1h 25m	$1.7M	$936K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.032%Rate

Funding earned: $58.39
Price spread: +0.032% → 0.000%: $3.24
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee BloFin: 6 bp × 2 orders: −$12
Net: $45.63
Costs to cover: 0.160%
Break-even: 1.5 days

Slippage unknown: Paradex: no order-book sample; BloFin: live order book, 3 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 BloFin live order book, 3 min ago	1.56 bp	13.9 bp −$14	24.6 bp −$246	81.9 bp −$8,191	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
Lighter XPL	−0.1160%	1h	0.09608	−0.072%	$4.3M	$3.2M	10x	as long as short
01 Exchange XPLUSD	−0.0352%	1h	0.09625	+0.105%	$642	$790	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09597	−0.189%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0062%	1h	0.09623	+0.084%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	−0.0007%	4h	0.09620	+0.053%	$30K	$266K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09621	+0.067%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.261%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09626	+0.113%	$73K	—	150x	as long as short
Paradex XPL-USD-PERPlong	+0.0062%	8h	0.09615	long leg	$12K	$696	5x
Nado XPL-PERP	+0.0100%	1h	0.09623	+0.087%	$1.2M	$2.2M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid XPL	+0.0100%	1h	0.09633	+0.187%	$60.8M	$46.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09629	+0.151%	$254K	$415K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09624	+0.093%	$220K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09622	+0.077%	$43.6M	$97.0M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09618	+0.032%	$45.9M	$53.2M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09621	+0.064%	$7.9M	$47.9M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09565	−0.519%	$139K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09628	+0.136%	$3.0M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09624	+0.095%	$12.6M	$6.8M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09615	+0.001%	$2.3M	$1.3M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09628	+0.136%	$8.9M	$9.6M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09617	+0.022%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09625	+0.105%	$177K	$188K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09617	+0.020%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09593	−0.233%	$254K	$1.2M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09600	−0.155%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09640	+0.258%	$126K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09600	−0.155%	$3K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09620	+0.053%	$200	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09619	+0.043%	$133K	$213K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09619	+0.040%	$605K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09620	+0.053%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09592	−0.238%	$194K	$506K	10x	as long as short
BloFin XPL-USDTshort	+0.0340%	4h	0.09618	+0.032%	$1.7M	$936K	75x
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.09718	+1.072%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2836%	1h	0.09655	+0.417%	$547K	$933K	10x	as long as short