Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0047%/8h= −5.1% APRpaid last 24h −0.006%

Price spread now: Paradex against Gate+0.126%7-day average — · you sell dearer than you buy

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

Long on Gate 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 0.126% dearer against Gate than usual: you sell high and buy low (spread +0.126% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 9.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XPL_USDT	0.09706	0.0100	pay 0.0050% / 4h	2h 47m	$3.0M	$3.8M	75x
Short	Paradex XPL-USD-PERP	0.09718	0.0053	get 0.0053% / 8h	6h 47m	$13K	$2K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Gate. 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 GatebpFee ParadexbpOrdersPrice spread, now +0.126%Rate

Funding earned: −$9.85
Price spread: +0.126% → 0.000%: $12.64
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$16.21
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 6 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 Gate live order book, 6 min ago	3.61 bp	24.1 bp −$24	155.2 bp −$1,552	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	−0.0264%	1h	0.09711	+0.052%	$565	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0186% / S +0.0554%	1h	0.09687	−0.194%	$111K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0100%	1h	0.09699	−0.072%	$179K	$242K	10x	as long as short
Lighter XPL	−0.0072%	1h	0.09701	−0.052%	$4.4M	$4.2M	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09716	+0.098%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.999%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09692	−0.144%	$46K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09688	−0.190%	$77K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0006%	4h	0.09687	−0.196%	$29K	$335K	10x	as long as short
OKX XPL-USDT-SWAP	+0.0050%	4h	0.09703	−0.031%	$8.5M	$56.0M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPL-USD-PERPshort	+0.0053%	8h	0.09718	+0.126%	$13K	$2K	5x
Nado XPL-PERP	+0.0100%	1h	0.09683	−0.240%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09728	+0.222%	$63.0M	$47.9M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09726	+0.210%	$247K	$555K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09709	+0.030%	$221K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09713	+0.067%	$44.2M	$110.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09707	+0.010%	$46.8M	$58.0M	75x	as long as short
Gate XPL_USDTlong	+0.0100%	4h	0.09706	long leg	$3.0M	$3.8M	75x
MEXC XPL_USDT	+0.0100%	4h	0.09713	+0.072%	$12.9M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09699	−0.072%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09712	+0.062%	$8.6M	$11.4M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09711	+0.052%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09693	−0.134%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09719	+0.132%	$265K	$858K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09720	+0.144%	$25K	$89K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09698	−0.087%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09700	−0.062%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09690	−0.165%	$200	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09701	−0.052%	$142K	$255K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09710	+0.044%	$141K	$7K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09709	+0.033%	$650K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09685	−0.216%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0328%	1h	0.09643	−0.649%	$195K	$657K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09706	0.000%	$1.8M	$1.1M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0496%	1h	0.09746	+0.412%	$80K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4395%	1h	0.09733	+0.279%	$551K	$1.0M	10x	as long as short