Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0051%/8h= −5.6% APRpaid last 24h −0.010%

Price spread now: Paradex against Nado−0.012%7-day average — · you buy dearer than you sell

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

Long on Nado Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropNado: Active · Paradex: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado XPL-PERP	0.09657	0.0100	pay 0.0012% / 1h	44m 53s	$1.2M	$2.5M	10x
Short	Paradex XPL-USD-PERP	0.09656	0.0049	get 0.0049% / 8h	3h 44m	$13K	$2K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Nado. 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 NadobpFee ParadexbpOrdersPrice spread, now −0.012%Rate

Funding earned: −$10.79
Price spread: −0.012% → 0.000%: −$1.16
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$22.95
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Nado: live order book, 4 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 Nado live order book, 4 min ago	4.12 bp	11.2 bp −$11	25.8 bp −$258	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	−0.0448%	1h	0.09649	−0.080%	$561	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0304% / S +0.0610%	1h	0.09675	+0.193%	$107K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0266%	1h	0.09688	+0.324%	$46K	$18K	25x	as long as short
Bybit XPLUSDT	−0.0171%	4h	0.09686	+0.303%	$45.9M	$54.3M	75x	as long as short
Gate XPL_USDT	−0.0158%	4h	0.09690	+0.344%	$3.1M	$3.4M	75x	as long as short
Backpack XPL_USDC_PERP	−0.0129%	1h	0.09688	+0.324%	$179K	$195K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09666	+0.093%	$9K	$585	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.600%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09677	+0.215%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0014%	4h	0.09671	+0.148%	$29K	$339K	10x	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	+0.0049%	8h	0.09656	−0.012%	$13K	$2K	5x
Lighter XPL	+0.0096%	1h	0.09679	+0.230%	$4.4M	$3.0M	10x	as long as short
Nado XPL-PERPlong	+0.0100%	1h	0.09657	long leg	$1.2M	$2.5M	10x
Hyperliquid XPL	+0.0100%	1h	0.09696	+0.409%	$61.2M	$46.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09693	+0.375%	$252K	$454K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09666	+0.091%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09687	+0.316%	$43.9M	$102.2M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09687	+0.313%	$8.3M	$49.3M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09670	+0.137%	$141K	$5K	10x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09685	+0.293%	$12.6M	$7.0M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09685	+0.293%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09697	+0.417%	$8.8M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09688	+0.324%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09668	+0.115%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09672	+0.155%	$255K	$1.0M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09680	+0.241%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09674	+0.183%	$127K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09650	−0.070%	$3K	$1.8M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09690	+0.344%	$199	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09682	+0.261%	$142K	$201K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09685	+0.290%	$656K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09680	+0.241%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09692	+0.365%	$196K	$573K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09678	+0.220%	$1.7M	$977K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0640%	1h	0.09734	+0.800%	$75K	$82K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3098%	1h	0.09722	+0.678%	$552K	$982K	10x	as long as short