Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0033%/8h= −3.7% APRpaid last 24h −0.009%

Price spread now: Paradex against Binance−0.049%7-day average — · you buy dearer than you sell

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

Long on Binance 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

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Paradex is 0.049% cheaper against Binance than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XPLUSDT	0.09547	0.0100	pay 0.0050% / 4h	2h 30m	$43.3M	$100.2M	75x
Short	Paradex XPL-USD-PERP	0.09542	0.0067	get 0.0067% / 8h	2h 30m	$12K	$696	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Binance. 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 BinancebpFee ParadexbpOrdersPrice spread, now −0.049%Rate

Funding earned: −$7.01
Price spread: −0.049% → 0.000%: −$4.93
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$25.94
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 12 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 Binance live order book, 12 min ago	1.05 bp	10.0 bp −$10	22.7 bp −$227	135.1 bp −$13.5K	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
Deribit XPL_USDC-PERPETUAL	−0.0274%	1h	0.09531	−0.165%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09535	−0.126%	$105K	—	100x	as long as short
01 Exchange XPLUSD	−0.0224%	1h	0.09544	−0.028%	$555	$708	5x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09549	+0.024%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.697%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09535	−0.119%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0015%	4h	0.09528	−0.196%	$29K	$320K	10x	as long as short
Lighter XPL	+0.0032%	1h	0.09536	−0.112%	$4.3M	$3.0M	10x	as long as short
Paradex XPL-USD-PERPshort	+0.0067%	8h	0.09542	−0.049%	$12K	$696	5x
Nado XPL-PERP	+0.0100%	1h	0.09532	−0.149%	$1.2M	$2.4M	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	0.09556	+0.098%	$60.4M	$46.5M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09550	+0.035%	$251K	$429K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09549	+0.022%	$218K	$47K	10x	as long as short
Binance XPLUSDTlong	+0.0100%	4h	0.09547	long leg	$43.3M	$100.2M	75x
Bybit XPLUSDT	+0.0100%	4h	0.09542	−0.049%	$45.2M	$54.2M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09543	−0.039%	$8.1M	$48.1M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09542	−0.049%	$3.0M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09544	−0.028%	$12.3M	$6.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09540	−0.070%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09552	+0.055%	$9.1M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09545	−0.018%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09540	−0.070%	$173K	$190K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09525	−0.227%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09546	−0.012%	$262K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09540	−0.070%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09541	−0.065%	$125K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09510	−0.384%	$3K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09530	−0.175%	$201	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09555	+0.087%	$139K	$186K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09540	−0.070%	$139K	$0	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09541	−0.061%	$601K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09536	−0.116%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09544	−0.028%	$193K	$536K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09533	−0.144%	$1.7M	$941K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0592%	1h	0.09581	+0.359%	$67K	$89K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2906%	1h	0.09566	+0.203%	$544K	$989K	10x	as long as short