Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0587%/8h= −64.2% APRpaid last 24h −0.112%

Price spread now: GMX against Paradex+0.005%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 GMX

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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$18 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex XPL-USD-PERP	0.09710	0.0089	pay 0.0089% / 8h	1h 46m	$13K	$2K	5x
Short	GMX XPL/USD [WBTC.b-USDC]	0.09711	L −0.0098% / S +0.0497%	pay 0.0062% / 1h	46m 42s	$112K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.005%Rate

Funding earned: −$123.2
Price spread: +0.005% → 0.000%: $0.5
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee GMX: 6 bp × 2 orders: −$12
Net: −$138.7
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; GMX: 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 Paradex no order-book sample	—	—	—	—	—
Sell GMX no order-book sample	—	—	—	—	—

Paradex and GMX: 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	−0.0343%	1h	0.09712	+0.019%	$177K	$281K	10x	as long as short
01 Exchange XPLUSD	−0.0208%	1h	0.09706	−0.042%	$564	$708	5x	as long as short
Lighter XPL	−0.0184%	1h	0.09702	−0.084%	$4.4M	$4.1M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0162%	1h	0.09709	−0.012%	$47K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]short	L −0.0098% / S +0.0497%	1h	0.09711	+0.005%	$112K	—	100x
dYdX XPL-USD	0.0000%	1h	0.09720	+0.102%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.034%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09710	+0.003%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0079%	4h	0.09705	−0.053%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERPlong	+0.0089%	8h	0.09710	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	0.09715	+0.055%	$1.4M	$2.7M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09729	+0.193%	$62.7M	$47.4M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09717	+0.072%	$251K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09716	+0.060%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09712	+0.019%	$43.6M	$105.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09711	+0.009%	$47.3M	$53.9M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09708	−0.022%	$8.9M	$53.2M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09695	−0.156%	$140K	$8K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09709	−0.012%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09711	+0.009%	$12.6M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09721	+0.112%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09716	+0.061%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09709	−0.012%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09696	−0.149%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09706	−0.039%	$255K	$782K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09730	+0.205%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09727	+0.173%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09690	−0.207%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09700	−0.104%	$202	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09703	−0.073%	$138K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09708	−0.023%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09711	+0.013%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09713	+0.030%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09727	+0.174%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09794	+0.864%	$74K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4607%	1h	0.09743	+0.339%	$513K	$952K	10x	as long as short