Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.009%

Price spread now: Paradex against MEXC−0.060%46s7-day average — · you buy dearer than you sell

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

Long on MEXC 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 0.060% cheaper against MEXC than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 46 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	MEXC XPL_USDT	0.09698	0.0100	pay 0.0050% / 4h	2h 05m	$12.6M	$7.0M	100x
Short	Paradex XPL-USD-PERP	0.09692	0.0067	get 0.0067% / 8h	2h 05m	$13K	$696	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against MEXC. 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 MEXCbpFee ParadexbpOrdersPrice spread, now −0.060%Rate

Funding earned: −$6.86
Price spread: −0.060% → 0.000%: −$5.98
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$16.84
Costs to cover: 0.040%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 2 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 MEXC live order book, 2 min ago	1.55 bp	3.1 bp −$3	7.9 bp −$79	89.4 bp −$8,943	232.7 bp −$116.3K
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	−0.0248%	1h	0.09689	−0.093%	$563	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09691	−0.076%	$107K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0162%	1h	0.09694	−0.041%	$46K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09690	−0.085%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.934%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09692	−0.059%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0007%	4h	0.09691	−0.072%	$29K	$292K	10x	as long as short
Lighter XPL	+0.0064%	1h	0.09689	−0.093%	$4.4M	$3.0M	10x	as long as short
Paradex XPL-USD-PERPshort	+0.0067%	8h	0.09692	−0.060%	$13K	$696	5x
Nado XPL-PERP	+0.0100%	1h	0.09689	−0.093%	$1.2M	$2.2M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid XPL	+0.0100%	1h	0.09713	+0.156%	$61.5M	$46.3M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09704	+0.060%	$255K	$426K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09692	−0.067%	$222K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09699	+0.006%	$44.0M	$98.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09693	−0.052%	$45.9M	$53.7M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09693	−0.052%	$8.1M	$48.8M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09661	−0.379%	$141K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09697	−0.010%	$3.1M	$3.4M	75x	as long as short
MEXC XPL_USDTlong	+0.0100%	4h	0.09698	long leg	$12.6M	$7.0M	100x
KuCoin XPLUSDTM	+0.0100%	4h	0.09688	−0.103%	$2.3M	$1.3M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09704	+0.062%	$9.0M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09695	−0.031%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09698	0.000%	$176K	$189K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09692	−0.064%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09700	+0.021%	$259K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09710	+0.124%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09699	+0.006%	$127K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09670	−0.289%	$2K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09690	−0.082%	$200	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09682	−0.165%	$138K	$188K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09694	−0.043%	$609K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09695	−0.031%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09718	+0.206%	$197K	$536K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09679	−0.196%	$1.7M	$945K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0592%	1h	0.09718	+0.206%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2859%	1h	0.09726	+0.286%	$553K	$954K	10x	as long as short