Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0225%/8h= +24.6% APRpaid last 24h +0.024%

Price spread now: SoDEX against Paradex+0.106%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 SoDEX

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 +$7 a day on $10k at the current rate, and SoDEX is 0.106% dearer against Paradex than usual: you sell high and buy low: +$11 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	0.09420	−0.0125	get 0.0125% / 8h	5h 46m	$12K	$696	5x
Short	SoDEX XPL-USD	0.09430	0.0100	get 0.0013% / 1h	46m 28s	$179	$9K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.106%Rate

Funding earned: $47.19
Price spread: +0.106% → 0.000%: $10.55
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $45.74
Costs to cover: 0.120%
Break-even: 0.2 days

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

Paradex and SoDEX: 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 exchanges

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	−0.0616%	1h	0.09417	−0.032%	$548	$873	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0598%	1h	0.09429	+0.095%	$46K	$18K	25x	as long as short
Lighter XPL	−0.0512%	1h	0.09420	−0.001%	$4.3M	$3.1M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0426% / S +0.0682%	1h	0.09434	+0.145%	$104K	—	100x	as long as short
Bybit XPLUSDT	−0.0310%	4h	0.09423	+0.031%	$44.7M	$52.6M	75x	as long as short
Extended XPL-USD	−0.0144%	1h	0.09424	+0.041%	$596K	$1.1M	25x	as long as short
Paradex XPL-USD-PERPlong	−0.0125%	8h	0.09420	long leg	$12K	$696	5x
Orderly PERP_XPL_USDC	−0.0094%	4h	0.09425	+0.052%	$30K	$177K	10x	as long as short
Backpack XPL_USDC_PERP	−0.0066%	1h	0.09435	+0.159%	$180K	$171K	10x	as long as short
OKX XPL-USDT-SWAP	−0.0043%	4h	0.09427	+0.074%	$7.3M	$46.4M	50x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance XPLUSDT	−0.0039%	4h	0.09423	+0.031%	$43.3M	$95.9M	75x	as long as short
MEXC XPL_USDT	−0.0036%	4h	0.09423	+0.031%	$13.1M	$6.4M	100x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−19.633%	—	—	—	as long as short
Gate XPL_USDT	+0.0002%	4h	0.09427	+0.074%	$2.9M	$3.2M	75x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09436	+0.169%	$71K	—	150x	as long as short
Aevo XPL-PERP	+0.0072%	1h	0.09425	+0.052%	$28K	$18K	3x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09425	+0.058%	$1.2M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09439	+0.203%	$59.8M	$41.9M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09434	+0.150%	$251K	$361K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09435	+0.155%	$211K	$51K	10x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09420	−0.001%	$137K	$5K	10x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09435	+0.159%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09435	+0.159%	$8.8M	$9.9M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09426	+0.063%	—	$7.7M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09434	+0.149%	$1.8M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09447	+0.283%	$258K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09450	+0.318%	$25K	$68K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09434	+0.145%	$123K	$1.2M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09410	−0.107%	$3K	$1.5M	20x	as long as short
SoDEX XPL-USDshort	+0.0100%	1h	0.09430	+0.106%	$179	$9K	10x
HTX XPL-USDT	+0.0100%	4h	0.09457	+0.392%	$134K	$216K	20x	as long as short
BloFin XPL-USDT	+0.0203%	4h	0.09426	+0.063%	$1.7M	$838K	75x	as long as short
Phoenix XPL	+0.0252%	1h	0.09440	+0.212%	$191K	$435K	10x	as long as short
dYdX XPL-USD	+0.0344%	1h	0.09428	+0.085%	$9K	$1K	5x	as long as short
Coinbase International XPL-PERP-INTX	+0.0712%	1h	0.09538	+1.252%	$64K	$91K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.1353%	1h	0.09456	+0.383%	$554K	$1.0M	10x	as long as short