Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0053%/8h= −5.8% APRpaid last 24h −0.009%

Price spread now: Paradex against SunX+0.158%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on SunX Short on Paradex

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

The price spread pays, funding is against you. Paradex is 0.158% dearer against SunX than usual: you sell high and buy low (spread +0.158% now, against zero (this spread has no 7-day history yet)): +$16 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 10.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XPL-USDT	0.09600	0.0100	pay 0.0050% / 4h	59m 57s	$2K	$1.6M	20x
Short	Paradex XPL-USD-PERP	0.09615	0.0047	get 0.0047% / 8h	59m 57s	$12K	$696	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against SunX. 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 SunXbpFee ParadexbpOrdersPrice spread, now +0.158%Rate

Funding earned: −$11.08
Price spread: +0.158% → 0.000%: $15.82
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$7.26
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: SunX: live order book, 5 min ago; Paradex: 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 SunX live order book, 5 min ago	31.18 bp	165.9 bp −$166	doesn't fit	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

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
Lighter XPL	−0.1160%	1h	0.09604	+0.042%	$4.3M	$3.2M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0373%	1h	0.09623	+0.240%	$46K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0320%	1h	0.09616	+0.167%	$559	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09629	+0.298%	$106K	—	100x	as long as short
Orderly PERP_XPL_USDC	−0.0010%	4h	0.09619	+0.198%	$30K	$246K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09630	+0.308%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.137%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09628	+0.297%	$73K	—	150x	as long as short
Paradex XPL-USD-PERPshort	+0.0047%	8h	0.09615	+0.158%	$12K	$696	5x
Nado XPL-PERP	+0.0100%	1h	0.09617	+0.182%	$1.3M	$2.2M	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	0.09630	+0.317%	$60.9M	$46.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09617	+0.175%	$254K	$420K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09624	+0.250%	$220K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09605	+0.052%	$43.7M	$97.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09608	+0.083%	$45.8M	$53.4M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09606	+0.063%	$7.8M	$47.9M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09614	+0.146%	$140K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09616	+0.167%	$3.0M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09608	+0.083%	$12.6M	$6.8M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09617	+0.177%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09615	+0.156%	$9.0M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09606	+0.063%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09618	+0.188%	$180K	$187K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09615	+0.154%	$1.7M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09617	+0.180%	$262K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09650	+0.521%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09632	+0.329%	$126K	$1.8M	10x	as long as short
SunX XPL-USDTlong	+0.0100%	4h	0.09600	long leg	$2K	$1.6M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09620	+0.208%	$197	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09616	+0.167%	$133K	$213K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09605	+0.050%	$604K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09620	+0.210%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09660	+0.625%	$196K	$506K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09618	+0.188%	$1.7M	$934K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.09718	+1.229%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2837%	1h	0.09650	+0.518%	$548K	$932K	10x	as long as short