Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0612%/8h= −67.1% APRpaid last 24h −0.203%

Price spread now: Paradex against Coinbase International−0.929%7-day average — · you buy dearer than you sell

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

Long on Coinbase International 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 −$18 a day on $10k at the current rate, and Paradex is 0.929% cheaper against Coinbase International than usual: you would sell low and buy high (−$93 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	Coinbase International XPL-PERP-INTX	0.09718	0.0664	pay 0.0083% / 1h	50m 28s	$66K	$92K	50x
Short	Paradex XPL-USD-PERP	0.09628	0.0052	get 0.0052% / 8h	1h 50m	$13K	$696	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Coinbase International. 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 Coinbase InternationalbpFee ParadexbpOrdersPrice spread, now −0.929%Rate

Funding earned: −$128.61
Price spread: −0.929% → 0.000%: −$92.88
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$235.49
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; 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 Coinbase International no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

Coinbase International and 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	−0.0568%	1h	0.09613	−1.080%	$4.3M	$3.1M	10x	as long as short
01 Exchange XPLUSD	−0.0456%	1h	0.09629	−0.916%	$560	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09636	−0.846%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0269%	1h	0.09620	−1.008%	$46K	$18K	25x	as long as short
Backpack XPL_USDC_PERP	−0.0071%	1h	0.09632	−0.885%	$178K	$190K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09628	−0.922%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.095%	—	—	—	as long as short
Orderly PERP_XPL_USDC	+0.0003%	4h	0.09617	−1.039%	$30K	$280K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09636	−0.848%	$73K	—	150x	as long as short
Paradex XPL-USD-PERPshort	+0.0052%	8h	0.09628	−0.929%	$13K	$696	5x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XPL-PERP	+0.0100%	1h	0.09622	−0.988%	$1.2M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09645	−0.755%	$60.9M	$46.3M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09636	−0.845%	$254K	$415K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09630	−0.906%	$220K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09629	−0.916%	$43.6M	$97.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09630	−0.906%	$45.6M	$53.6M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09630	−0.906%	$8.0M	$48.2M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09620	−1.008%	$140K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09625	−0.957%	$3.0M	$3.3M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09630	−0.906%	$12.6M	$6.8M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09620	−1.008%	$2.3M	$1.3M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09638	−0.823%	$8.9M	$9.5M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09630	−0.906%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09621	−0.999%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09624	−0.964%	$255K	$1.2M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09630	−0.906%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09640	−0.802%	$126K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09590	−1.317%	$2K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09620	−1.008%	$198	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09612	−1.091%	$133K	$215K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09622	−0.983%	$606K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09615	−1.060%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09625	−0.957%	$195K	$506K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09605	−1.163%	$1.7M	$937K	75x	as long as short
Coinbase International XPL-PERP-INTXlong	+0.0664%	1h	0.09718	long leg	$66K	$92K	50x
Kraken Futures PF_XPLUSD	+0.2834%	1h	0.09660	−0.598%	$549K	$954K	10x	as long as short