Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0048%/8h= −5.2% APRpaid last 24h −0.009%

Price spread now: Paradex against KuCoin−0.136%47s7-day average — · you buy dearer than you sell

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

Long on KuCoin 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 0.136% cheaper against KuCoin than usual: you would sell low and buy high (−$14 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XPLUSDTM	0.09607	0.0100	pay 0.0050% / 4h	1h 41m	$2.3M	$1.3M	50x
Short	Paradex XPL-USD-PERP	0.09594	0.0052	get 0.0052% / 8h	1h 41m	$12K	$696	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against KuCoin. 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 KuCoinbpFee ParadexbpOrdersPrice spread, now −0.136%Rate

Funding earned: −$10.06
Price spread: −0.136% → 0.000%: −$13.62
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$39.68
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 5 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 KuCoin live order book, 5 min ago	8.33 bp	34.7 bp −$35	161.3 bp −$1,613	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
Lighter XPL	−0.1040%	1h	0.09585	−0.229%	$4.3M	$3.2M	10x	as long as short
01 Exchange XPLUSD	−0.0392%	1h	0.09599	−0.083%	$558	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09604	−0.033%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0166%	1h	0.09600	−0.073%	$46K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09606	−0.008%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−21.198%	—	—	—	as long as short
Orderly PERP_XPL_USDC	0.0000%	4h	0.09595	−0.125%	$30K	$280K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09603	−0.040%	$72K	—	150x	as long as short
Paradex XPL-USD-PERPshort	+0.0052%	8h	0.09594	−0.136%	$12K	$696	5x
Backpack XPL_USDC_PERP	+0.0092%	1h	0.09606	−0.010%	$177K	$189K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XPL-PERP	+0.0100%	1h	0.09597	−0.104%	$1.2M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09625	+0.184%	$60.8M	$46.3M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09617	+0.099%	$254K	$415K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09602	−0.057%	$220K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09608	+0.011%	$43.5M	$97.1M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09609	+0.021%	$45.6M	$52.9M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09606	−0.010%	$8.0M	$47.8M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09595	−0.125%	$140K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09604	−0.031%	$3.0M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09606	−0.010%	$12.5M	$6.8M	100x	as long as short
KuCoin XPLUSDTMlong	+0.0100%	4h	0.09607	long leg	$2.3M	$1.3M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09612	+0.052%	$8.9M	$9.4M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09607	0.000%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09604	−0.033%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09609	+0.020%	$263K	$1.2M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09630	+0.239%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09608	+0.008%	$126K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09580	−0.281%	$2K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09600	−0.073%	$201	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09600	−0.073%	$133K	$215K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09601	−0.064%	$606K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09595	−0.121%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09628	+0.219%	$195K	$506K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09609	+0.021%	$1.7M	$938K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.09718	+1.155%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2841%	1h	0.09636	+0.299%	$547K	$935K	10x	as long as short