Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0213%/8h= −23.4% APRpaid last 24h −0.024%

Price spread now: Paradex against BingX−0.048%7-day average — · you buy dearer than you sell

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

Long on BingX 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 −$6 a day on $10k at the current rate, and Paradex is 0.048% cheaper against BingX 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	BingX XPL-USDT	0.09472	0.0100	pay 0.0050% / 4h	3h 33m	—	$7.7M	—
Short	Paradex XPL-USD-PERP	0.09467	−0.0113	pay 0.0113% / 8h	7h 33m	$12K	$696	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against BingX. 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 BingXbpFee ParadexbpOrdersPrice spread, now −0.048%Rate

Funding earned: −$44.83
Price spread: −0.048% → 0.000%: −$4.75
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$63.58
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 4 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 BingX live order book, 4 min ago	5.25 bp	14.7 bp −$15	29.8 bp −$298	94.2 bp −$9,424	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	−0.1248%	1h	0.09466	−0.063%	$4.3M	$3.2M	10x	as long as short
Bybit XPLUSDT	−0.0465%	4h	0.09471	−0.011%	$45.0M	$54.3M	75x	as long as short
01 Exchange XPLUSD	−0.0416%	1h	0.09469	−0.032%	$551	$873	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0381%	1h	0.09510	+0.401%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09504	+0.339%	$105K	—	100x	as long as short
Paradex XPL-USD-PERPshort	−0.0113%	8h	0.09467	−0.048%	$12K	$696	5x
Gate XPL_USDT	−0.0074%	4h	0.09477	+0.053%	$2.9M	$3.3M	75x	as long as short
Backpack XPL_USDC_PERP	−0.0059%	1h	0.09502	+0.317%	$178K	$180K	10x	as long as short
OKX XPL-USDT-SWAP	−0.0038%	4h	0.09473	+0.011%	$7.6M	$47.2M	50x	as long as short
Orderly PERP_XPL_USDC	−0.0027%	4h	0.09510	+0.401%	$30K	$254K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX XPL-USD	0.0000%	1h	0.09482	+0.102%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.072%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09506	+0.358%	$72K	—	150x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09473	+0.011%	$1.2M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09488	+0.170%	$60.0M	$45.8M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09483	+0.112%	$250K	$402K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09486	+0.152%	$217K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09471	−0.011%	$43.2M	$98.1M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09510	+0.401%	$139K	$0	10x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09476	+0.042%	$12.5M	$6.5M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09474	+0.021%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09480	+0.084%	$8.9M	$9.9M	75x	as long as short
BingX XPL-USDTlong	+0.0100%	4h	0.09472	long leg	—	$7.7M	—
Variational Omni XPL	+0.0100%	4h	0.09502	+0.316%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09500	+0.296%	$254K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09510	+0.401%	$25K	$73K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09484	+0.127%	$124K	$1.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09480	+0.084%	$3K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09500	+0.296%	$186	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09500	+0.296%	$131K	$212K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09473	+0.008%	$585K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09516	+0.470%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09511	+0.412%	$192K	$494K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09495	+0.243%	$1.7M	$928K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0536%	1h	0.09596	+1.309%	$64K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2721%	1h	0.09532	+0.632%	$541K	$957K	10x	as long as short