Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0034%/8h= +3.7% APRpaid last 24h +0.009%

Price spread now: HTX against Paradex−0.277%7-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 HTX

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

Funding pays, the price is against you. HTX is 0.277% cheaper against Paradex than usual: you would sell low and buy high (spread −0.277% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$28 on $10k: about 27 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex XPL-USD-PERP	0.09690	0.0066	pay 0.0066% / 8h	2h 10m	$13K	$696	5x
Short	HTX XPL-USDT	0.09663	0.0100	get 0.0050% / 4h	2h 10m	$138K	$191K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.277%Rate

Funding earned: $7.15
Price spread: −0.277% → 0.000%: −$27.65
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee HTX: 6 bp × 2 orders: −$12
Net: −$36.5
Costs to cover: 0.160%
Break-even: 42.7 days

Slippage unknown: Paradex: no order-book sample; HTX: live order book, 35 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 HTX live order book, 35 min ago	7.84 bp	61.0 bp −$61	doesn't fit	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	0.09690	+0.002%	$563	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09696	+0.069%	$107K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0059%	1h	0.09701	+0.116%	$46K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09689	−0.008%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.867%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09697	+0.073%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0007%	4h	0.09696	+0.064%	$29K	$298K	10x	as long as short
Lighter XPL	+0.0040%	1h	0.09695	+0.054%	$4.4M	$3.0M	10x	as long as short
Paradex XPL-USD-PERPlong	+0.0066%	8h	0.09690	long leg	$13K	$696	5x
Nado XPL-PERP	+0.0100%	1h	0.09686	−0.037%	$1.2M	$2.3M	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	0.09719	+0.297%	$61.5M	$46.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09709	+0.197%	$255K	$426K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09688	−0.020%	$222K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09703	+0.136%	$44.0M	$99.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09701	+0.116%	$46.0M	$53.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09700	+0.105%	$8.2M	$49.0M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09661	−0.295%	$141K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09705	+0.157%	$3.1M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09706	+0.167%	$12.6M	$7.0M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09703	+0.136%	$2.3M	$1.3M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09710	+0.209%	$9.2M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09706	+0.167%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09707	+0.178%	$176K	$190K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09638	−0.535%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09635	−0.567%	$257K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09680	−0.101%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09699	+0.094%	$127K	$1.9M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09670	−0.204%	$3K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09700	+0.105%	$209	$12K	10x	as long as short
HTX XPL-USDTshort	+0.0100%	4h	0.09663	−0.277%	$138K	$191K	20x
Extended XPL-USD	+0.0104%	1h	0.09700	+0.105%	$609K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09700	+0.105%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09657	−0.338%	$196K	$536K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09685	−0.049%	$1.7M	$949K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0592%	1h	0.09737	+0.487%	$67K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2858%	1h	0.09729	+0.405%	$553K	$955K	10x	as long as short