Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0217%/8h= +23.7% APRpaid last 24h +0.024%

Price spread now: BingX against Paradex+0.097%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on BingX

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 for this trade now. Funding pays +$6 a day on $10k at the current rate, and BingX is 0.097% dearer against Paradex than usual: you sell high and buy low: +$10 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex XPL-USD-PERP	0.09453	−0.0117	get 0.0117% / 8h	5h 56m	$12K	$696	5x
Short	BingX XPL-USDT	0.09462	0.0100	get 0.0050% / 4h	1h 56m	—	$7.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Paradex. 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 ParadexbpFee BingXbpOrdersPrice spread, now +0.097%Rate

Funding earned: $45.48
Price spread: +0.097% → 0.000%: $9.74
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee BingX: 5 bp × 2 orders: −$10
Net: $41.23
Costs to cover: 0.140%
Break-even: 0.7 days

Slippage unknown: Paradex: no order-book sample; BingX: live order book, 10 min ago. 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 Paradex no order-book sample	—	—	—	—	—
Sell BingX live order book, 10 min ago	5.78 bp	15.9 bp −$16	26.1 bp −$261	86.0 bp −$8,595	doesn't fit

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 exchanges

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	−0.0792%	1h	0.09457	+0.045%	$4.3M	$3.0M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0595%	1h	0.09462	+0.097%	$47K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0568%	1h	0.09449	−0.040%	$549	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0414% / S +0.0675%	1h	0.09486	+0.347%	$105K	—	100x	as long as short
Bybit XPLUSDT	−0.0247%	4h	0.09460	+0.076%	$44.6M	$52.1M	75x	as long as short
Extended XPL-USD	−0.0152%	1h	0.09459	+0.064%	$601K	$1.1M	25x	as long as short
Paradex XPL-USD-PERPlong	−0.0117%	8h	0.09453	long leg	$12K	$696	5x
Orderly PERP_XPL_USDC	−0.0087%	4h	0.09459	+0.066%	$30K	$185K	10x	as long as short
OKX XPL-USDT-SWAP	−0.0051%	4h	0.09464	+0.119%	$7.4M	$46.4M	50x	as long as short
Binance XPLUSDT	−0.0025%	4h	0.09463	+0.108%	$43.5M	$95.6M	75x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC XPL_USDT	−0.0022%	4h	0.09461	+0.087%	$13.3M	$6.3M	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09489	+0.385%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−19.911%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09487	+0.359%	$72K	—	150x	as long as short
Gate XPL_USDT	+0.0022%	4h	0.09459	+0.066%	$2.9M	$3.2M	75x	as long as short
Backpack XPL_USDC_PERP	+0.0032%	1h	0.09484	+0.330%	$179K	$170K	10x	as long as short
Aevo XPL-PERP	+0.0072%	1h	0.09465	+0.129%	$28K	$18K	3x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09456	+0.034%	$1.2M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09469	+0.171%	$60.0M	$42.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09470	+0.182%	$252K	$360K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09472	+0.203%	$216K	$46K	10x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09459	+0.066%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09471	+0.193%	$8.9M	$9.9M	75x	as long as short
BingX XPL-USDTshort	+0.0100%	4h	0.09462	+0.097%	—	$7.7M	—
Variational Omni XPL	+0.0100%	4h	0.09489	+0.386%	$1.7M	$1.7M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09495	+0.448%	$253K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09500	+0.499%	$25K	$68K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09467	+0.150%	$124K	$1.2M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09450	−0.030%	$3K	$1.5M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09480	+0.288%	$183	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09470	+0.182%	$134K	$209K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09455	+0.023%	$138K	$5K	10x	as long as short
Phoenix XPL	+0.0166%	1h	0.09514	+0.648%	$192K	$434K	10x	as long as short
BloFin XPL-USDT	+0.0218%	4h	0.09471	+0.193%	$1.7M	$827K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0712%	1h	0.09538	+0.901%	$64K	$91K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.1349%	1h	0.09486	+0.353%	$553K	$992K	10x	as long as short