Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0091%/8h= +9.9% APRpaid last 24h +0.029%

Price spread now: Paradex against dYdX+0.053%7-day average — · you sell dearer than you buy

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

Long on dYdX 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 for this trade now. Funding pays +$3 a day on $10k at the current rate, and Paradex is 0.053% dearer against dYdX than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX XPL-USD	0.09712	0	get 0.0000% / 1h	49m 28s	$8K	—	5x
Short	Paradex XPL-USD-PERP	0.09717	0.0091	get 0.0091% / 8h	1h 49m	$13K	$2K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against dYdX. 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 dYdXbpFee ParadexbpOrdersPrice spread, now +0.053%Rate

Funding earned: $19.03
Price spread: +0.053% → 0.000%: $5.31
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: $10.33
Costs to cover: 0.140%
Break-even: 3.2 days

Slippage unknown: dYdX: 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 dYdX no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

dYdX 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
Backpack XPL_USDC_PERP	−0.0295%	1h	0.09711	−0.005%	$177K	$281K	10x	as long as short
01 Exchange XPLUSD	−0.0184%	1h	0.09713	+0.015%	$565	$708	5x	as long as short
Lighter XPL	−0.0176%	1h	0.09703	−0.088%	$4.4M	$4.1M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0162%	1h	0.09705	−0.067%	$47K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0096% / S +0.0497%	1h	0.09727	+0.163%	$112K	—	100x	as long as short
dYdX XPL-USDlong	0.0000%	1h	0.09712	long leg	$8K	—	5x
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.045%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09729	+0.178%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0079%	4h	0.09703	−0.088%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERPshort	+0.0091%	8h	0.09717	+0.053%	$13K	$2K	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	0.09720	+0.087%	$1.4M	$2.7M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09733	+0.222%	$62.7M	$47.4M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09721	+0.094%	$251K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09720	+0.087%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09725	+0.134%	$43.7M	$105.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09718	+0.067%	$47.4M	$53.9M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09717	+0.056%	$8.9M	$53.3M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09695	−0.171%	$140K	$8K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09711	−0.005%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09723	+0.118%	$12.6M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09720	+0.087%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09726	+0.149%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09722	+0.108%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09696	−0.163%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09706	−0.053%	$255K	$782K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09710	−0.016%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09733	+0.219%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09690	−0.222%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09700	−0.119%	$201	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09715	+0.036%	$138K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09714	+0.025%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09708	−0.032%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09693	−0.191%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09727	+0.159%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09794	+0.849%	$74K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4602%	1h	0.09754	+0.435%	$513K	$952K	10x	as long as short