Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0044%/8h= −4.8% APRpaid last 24h −0.009%

Price spread now: Paradex against Bitget−0.124%7-day average — · you buy dearer than you sell

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

Long on Bitget 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 0.124% cheaper against Bitget than usual: you would sell low and buy high (−$12 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	Bitget XPLUSDT	0.09698	0.0100	pay 0.0050% / 4h	1h 57m	$9.0M	$9.6M	75x
Short	Paradex XPL-USD-PERP	0.09686	0.0056	get 0.0056% / 8h	1h 57m	$13K	$696	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Bitget. 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 BitgetbpFee ParadexbpOrdersPrice spread, now −0.124%Rate

Funding earned: −$9.27
Price spread: −0.124% → 0.000%: −$12.38
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$37.65
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 1 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 Bitget live order book, 1 min ago	3.10 bp	14.6 bp −$15	30.9 bp −$309	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
01 Exchange XPLUSD	−0.0416%	1h	0.09688	−0.103%	$563	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0369%	1h	0.09685	−0.134%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09693	−0.055%	$107K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09689	−0.091%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.933%	—	—	—	as long as short
Orderly PERP_XPL_USDC	+0.0005%	4h	0.09683	−0.155%	$29K	$278K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09692	−0.062%	$73K	—	150x	as long as short
Paradex XPL-USD-PERPshort	+0.0056%	8h	0.09686	−0.124%	$13K	$696	5x
Lighter XPL	+0.0072%	1h	0.09679	−0.196%	$4.4M	$3.0M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09692	−0.067%	$1.2M	$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	0.09699	+0.011%	$61.4M	$46.4M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09692	−0.062%	$255K	$426K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09693	−0.054%	$222K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09685	−0.134%	$43.9M	$98.3M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09685	−0.134%	$46.0M	$53.6M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09687	−0.113%	$8.0M	$48.6M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09684	−0.144%	$3.1M	$3.3M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09689	−0.093%	$12.7M	$6.8M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09677	−0.217%	$2.3M	$1.3M	50x	as long as short
Bitget XPLUSDTlong	+0.0100%	4h	0.09698	long leg	$9.0M	$9.6M	75x
BingX XPL-USDT	+0.0100%	4h	0.09689	−0.093%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09687	−0.113%	$176K	$189K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09671	−0.281%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09670	−0.289%	$260K	$1.2M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09680	−0.186%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09705	+0.069%	$127K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09670	−0.289%	$2K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09680	−0.186%	$198	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09669	−0.299%	$138K	$186K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09676	−0.227%	$141K	$0	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09687	−0.111%	$609K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09684	−0.150%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09691	−0.072%	$196K	$506K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09674	−0.247%	$1.7M	$942K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.09718	+0.206%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2817%	1h	0.09720	+0.231%	$552K	$953K	10x	as long as short