Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0056%/8h= −6.1% APRpaid last 24h −0.009%

Price spread now: Paradex against Aster−0.014%7-day average — · you buy dearer than you sell

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

Long on Aster 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 airdropAster: Stage 5 · Paradex: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster XPLUSDT	0.09670	0.0100	pay 0.0050% / 4h	2h 00m	$246K	$499K	20x
Short	Paradex XPL-USD-PERP	0.09668	0.0044	get 0.0044% / 8h	6h 00m	$13K	$2K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Aster. 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 AsterbpFee ParadexbpOrdersPrice spread, now −0.014%Rate

Funding earned: −$11.7
Price spread: −0.014% → 0.000%: −$1.45
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$25.15
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 2 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 Aster live order book, 2 min ago	5.17 bp	23.5 bp −$23	157.5 bp −$1,575	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 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
01 Exchange XPLUSD	−0.0304%	1h	0.09661	−0.091%	$562	$708	5x	as long as short
Backpack XPL_USDC_PERP	−0.0220%	1h	0.09673	+0.033%	$179K	$243K	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0210% / S +0.0570%	1h	0.09665	−0.049%	$111K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0060%	1h	0.09675	+0.054%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	−0.0002%	4h	0.09660	−0.101%	$29K	$335K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09678	+0.088%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.709%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09668	−0.022%	$60K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0038%	4h	0.09661	−0.091%	$8.4M	$53.5M	50x	as long as short
Paradex XPL-USD-PERPshort	+0.0044%	8h	0.09668	−0.014%	$13K	$2K	5x

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPL	+0.0048%	1h	0.09661	−0.091%	$4.4M	$4.2M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09666	−0.039%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09677	+0.080%	$61.5M	$47.6M	10x	as long as short
Aster XPLUSDTlong	+0.0100%	4h	0.09670	long leg	$246K	$499K	20x
Pacifica XPL	+0.0100%	1h	0.09676	+0.062%	$220K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09661	−0.091%	$43.8M	$107.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09658	−0.122%	$46.5M	$56.3M	75x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09661	−0.091%	$3.0M	$3.9M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09661	−0.091%	$12.6M	$8.0M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09661	−0.091%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09663	−0.070%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09661	−0.091%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09670	0.000%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09646	−0.247%	$257K	$891K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09650	−0.204%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09675	+0.054%	$132K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09650	−0.204%	$2K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09670	+0.002%	$196	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09665	−0.049%	$143K	$250K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09660	−0.101%	$141K	$7K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09665	−0.047%	$655K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09660	−0.101%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0328%	1h	0.09667	−0.029%	$196K	$657K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0496%	1h	0.09766	+0.995%	$78K	$95K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4402%	1h	0.09717	+0.485%	$551K	$1.0M	10x	as long as short