Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.009%

Price spread now: Paradex against Pacifica−0.093%7-day average — · you buy dearer than you sell

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

Long on Pacifica 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 airdropPacifica: Active · Paradex: 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 0.093% cheaper against Pacifica than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica XPL	0.09657	0.0100	pay 0.0013% / 1h	5m 25s	$221K	$46K	10x
Short	Paradex XPL-USD-PERP	0.09648	0.0067	get 0.0067% / 8h	1h 05m	$13K	$696	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Pacifica. 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 PacificabpFee ParadexbpOrdersPrice spread, now −0.093%Rate

Funding earned: −$6.88
Price spread: −0.093% → 0.000%: −$9.3
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$28.17
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Pacifica: live order book, 38 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 Pacifica live order book, 38 min ago	10.41 bp	18.0 bp −$18	doesn't fit	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	−0.1112%	1h	0.09639	−0.184%	$4.4M	$3.2M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09648	−0.088%	$106K	—	100x	as long as short
01 Exchange XPLUSD	−0.0304%	1h	0.09637	−0.205%	$560	$873	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0164%	1h	0.09645	−0.122%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	−0.0007%	4h	0.09641	−0.164%	$30K	$255K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09656	−0.013%	$9K	$600	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	0.09648	−0.088%	$73K	—	150x	as long as short
Paradex XPL-USD-PERPshort	+0.0067%	8h	0.09648	−0.093%	$13K	$696	5x
Nado XPL-PERP	+0.0100%	1h	0.09642	−0.151%	$1.3M	$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	0.09661	+0.047%	$61.0M	$46.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09654	−0.024%	$255K	$420K	20x	as long as short
Pacifica XPLlong	+0.0100%	1h	0.09657	long leg	$221K	$46K	10x
Binance XPLUSDT	+0.0100%	4h	0.09641	−0.163%	$43.9M	$97.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09643	−0.143%	$46.0M	$53.4M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09639	−0.184%	$7.8M	$48.0M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09655	−0.019%	$141K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09646	−0.112%	$3.0M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09643	−0.143%	$12.6M	$6.8M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09649	−0.081%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09652	−0.050%	$9.1M	$9.8M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09642	−0.153%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09656	−0.008%	$181K	$187K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09647	−0.103%	$1.8M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09640	−0.176%	$263K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09650	−0.070%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09652	−0.049%	$126K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09630	−0.278%	$3K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09650	−0.070%	$200	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09644	−0.133%	$133K	$213K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09642	−0.156%	$604K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09640	−0.174%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09671	+0.147%	$196K	$506K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09625	−0.329%	$1.7M	$935K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.09718	+0.634%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2830%	1h	0.09676	+0.198%	$549K	$932K	10x	as long as short