Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0008%/8h= −0.9% APRpaid last 24h +0.009%

Price spread now: OKX against Paradex−0.177%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 OKX

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 between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.177% cheaper against Paradex than usual: you would sell low and buy high, −$18 on $10k if it 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	0.09670	0.0065	pay 0.0065% / 8h	6h 17m	$13K	$2K	5x
Short	OKX XPL-USDT-SWAP	0.09653	0.0057	get 0.0029% / 4h	2h 17m	$8.4M	$54.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.177%Rate

Funding earned: −$1.65
Price spread: −0.177% → 0.000%: −$17.7
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee OKX: 5 bp × 2 orders: −$10
Net: −$33.35
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; OKX: live order book, 2 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 OKX live order book, 2 min ago	0.52 bp	12.0 bp −$12	34.0 bp −$340	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 35 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
Deribit XPL_USDC-PERPETUAL	−0.0579%	1h	0.09648	−0.229%	$46K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0232%	1h	0.09659	−0.115%	$562	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0201% / S +0.0564%	1h	0.09655	−0.153%	$111K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0191%	1h	0.09653	−0.177%	$178K	$244K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09675	+0.051%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.711%	—	—	—	as long as short
Orderly PERP_XPL_USDC	+0.0001%	4h	0.09649	−0.218%	$29K	$335K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09657	−0.137%	$59K	—	150x	as long as short
OKX XPL-USDT-SWAPshort	+0.0057%	4h	0.09653	−0.177%	$8.4M	$54.4M	50x
Paradex XPL-USD-PERPlong	+0.0065%	8h	0.09670	long leg	$13K	$2K	5x

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPL	+0.0096%	1h	0.09647	−0.239%	$4.4M	$4.2M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09649	−0.224%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09665	−0.051%	$61.7M	$47.8M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09660	−0.105%	$246K	$512K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09677	+0.074%	$220K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09656	−0.146%	$43.8M	$109.6M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09656	−0.146%	$46.5M	$57.1M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09675	+0.054%	$141K	$7K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09652	−0.187%	$3.0M	$3.9M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09653	−0.177%	$12.7M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09652	−0.187%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09652	−0.187%	$8.6M	$11.2M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09652	−0.187%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09664	−0.066%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09675	+0.050%	$257K	$891K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09680	+0.102%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09660	−0.105%	$131K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09650	−0.208%	$2K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09650	−0.208%	$197	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09644	−0.270%	$142K	$259K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09649	−0.214%	$655K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09650	−0.208%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0328%	1h	0.09693	+0.237%	$196K	$657K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0496%	1h	0.09766	+0.992%	$78K	$95K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4411%	1h	0.09698	+0.286%	$550K	$1.0M	10x	as long as short