Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0005%/8h= +0.5% APRpaid last 24h −0.008%

Price spread now: Orderly against Paradex+0.080%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 Orderly

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: Orderly is 0.080% dearer against Paradex than usual: you sell high and buy low, +$8 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	0.09558	−0.0032	get 0.0032% / 8h	11m 07s	$12K	$696	5x
Short	Orderly PERP_XPL_USDC	0.09566	−0.0027	pay 0.0013% / 4h	11m 07s	$30K	$277K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.080%Rate

Funding earned: $0.98
Price spread: +0.080% → 0.000%: $7.96
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$1.05
Costs to cover: 0.100%
Break-even: 14.5 days

Slippage unknown: Paradex: no order-book sample; Orderly: 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 Orderly no order-book sample	—	—	—	—	—

Paradex and Orderly: 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	−0.1416%	1h	0.09553	−0.056%	$4.3M	$3.2M	10x	as long as short
01 Exchange XPLUSD	−0.0472%	1h	0.09563	+0.048%	$556	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09571	+0.131%	$106K	—	100x	as long as short
Paradex XPL-USD-PERPlong	−0.0032%	8h	0.09558	long leg	$12K	$696	5x
Bybit XPLUSDT	−0.0030%	4h	0.09564	+0.059%	$45.5M	$53.8M	75x	as long as short
Orderly PERP_XPL_USDCshort	−0.0027%	4h	0.09566	+0.080%	$30K	$277K	10x
dYdX XPL-USD	0.0000%	1h	0.09569	+0.108%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.794%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09569	+0.111%	$46K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09570	+0.121%	$72K	—	150x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX XPL-USDT-SWAP	+0.0048%	4h	0.09565	+0.069%	$7.7M	$47.7M	50x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09562	+0.033%	$1.3M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09586	+0.285%	$60.5M	$46.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09575	+0.171%	$253K	$419K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09567	+0.089%	$219K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09568	+0.101%	$43.3M	$97.7M	75x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09566	+0.080%	$2.9M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09567	+0.090%	$12.5M	$6.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09570	+0.121%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09574	+0.163%	$9.0M	$9.8M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09565	+0.069%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09571	+0.132%	$179K	$180K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09545	−0.140%	$1.7M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09570	+0.121%	$254K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09570	+0.121%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09575	+0.176%	$125K	$1.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09540	−0.192%	$2K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09570	+0.121%	$193	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09568	+0.101%	$132K	$212K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09555	−0.035%	$139K	$0	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09563	+0.050%	$595K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09567	+0.092%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0249%	1h	0.09583	+0.257%	$194K	$495K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09561	+0.027%	$1.7M	$929K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0808%	1h	0.09570	+0.121%	$64K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2734%	1h	0.09593	+0.367%	$541K	$939K	10x	as long as short