Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0058%/8h= −6.3% APRpaid last 24h −0.009%

Price spread now: Paradex against Bybit+0.157%7-day average — · you sell dearer than you buy

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

Long on Bybit 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 0.157% dearer against Bybit than usual: you sell high and buy low (spread +0.157% 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 9.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XPLUSDT	0.09585	0.0100	pay 0.0050% / 4h	1h 54m	$46.1M	$55.9M	75x
Short	Paradex XPL-USD-PERP	0.09600	0.0042	get 0.0042% / 8h	5h 54m	$12K	$2K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Bybit. 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 BybitbpFee ParadexbpOrdersPrice spread, now +0.157%Rate

Funding earned: −$12.08
Price spread: +0.157% → 0.000%: $15.67
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$11.41
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Bybit: 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 Bybit live order book, 4 min ago	0.52 bp	13.0 bp −$13	45.2 bp −$452	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
Backpack XPL_USDC_PERP	−0.0645%	1h	0.09617	+0.334%	$178K	$241K	10x	as long as short
01 Exchange XPLUSD	−0.0384%	1h	0.09623	+0.396%	$559	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0373%	1h	0.09618	+0.344%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0212% / S +0.0571%	1h	0.09625	+0.423%	$111K	—	100x	as long as short
Lighter XPL	−0.0088%	1h	0.09601	+0.167%	$4.3M	$4.2M	10x	as long as short
Orderly PERP_XPL_USDC	−0.0003%	4h	0.09618	+0.344%	$29K	$335K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09613	+0.288%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.017%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09626	+0.432%	$55K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0036%	4h	0.09585	0.000%	$8.3M	$52.9M	50x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPL-USD-PERPshort	+0.0042%	8h	0.09600	+0.157%	$12K	$2K	5x
Nado XPL-PERP	+0.0100%	1h	0.09630	+0.475%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09621	+0.372%	$61.1M	$47.3M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09620	+0.365%	$245K	$499K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09612	+0.284%	$219K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09600	+0.159%	$43.5M	$107.8M	75x	as long as short
Bybit XPLUSDTlong	+0.0100%	4h	0.09585	long leg	$46.1M	$55.9M	75x
Bulk XPL-USD	+0.0100%	1h	0.09640	+0.574%	$140K	$7K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09614	+0.303%	$3.0M	$3.7M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09590	+0.052%	$12.5M	$7.8M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09615	+0.313%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09584	−0.010%	$8.5M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09615	+0.313%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09669	+0.875%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09642	+0.595%	$259K	$900K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09630	+0.469%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09635	+0.522%	$131K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09610	+0.261%	$2K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09610	+0.261%	$2K	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09620	+0.365%	$142K	$250K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09614	+0.302%	$651K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09613	+0.292%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0328%	1h	0.09633	+0.501%	$195K	$629K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0672%	1h	0.09766	+1.888%	$78K	$91K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3558%	1h	0.09662	+0.809%	$548K	$1.0M	10x	as long as short