Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0002%/8hpaid last 24h +0.001%

Price spread now: Bybit against Paradex+0.016%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 Bybit

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

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex XPL-USD-PERP	0.1000	0.0098	pay 0.0098% / 8h	3h 54m	$13K	$2K	5x
Short	Bybit XPLUSDT	0.1001	0.0100	get 0.0050% / 4h	3h 54m	$48.8M	$50.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.016%Rate

Funding earned: $0.46
Price spread: +0.016% → 0.000%: $1.64
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$12.89
Costs to cover: 0.150%
Break-even: 202.5 days

Slippage unknown: Paradex: no order-book sample; Bybit: live order book, 4 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 Bybit live order book, 4 min ago	0.50 bp	13.6 bp −$14	41.2 bp −$412	doesn't fit	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 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
Gate XPL_USDT	−0.0064%	4h	0.1001	+0.016%	$3.1M	$4.0M	75x	as long as short
Lighter XPL	−0.0008%	1h	0.09997	−0.074%	$4.5M	$4.2M	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.1001	+0.061%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−24.327%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.1001	+0.076%	$50K	$17K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.1001	+0.053%	$74K	—	150x	as long as short
Backpack XPL_USDC_PERP	+0.0010%	1h	0.1001	+0.006%	$184K	$281K	10x	as long as short
01 Exchange XPLUSD	+0.0032%	1h	0.1000	−0.024%	$582	$582	5x	as long as short
Orderly PERP_XPL_USDC	+0.0070%	4h	0.1001	+0.086%	$28K	$333K	10x	as long as short
Paradex XPL-USD-PERPlong	+0.0098%	8h	0.1000	long leg	$13K	$2K	5x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XPL-PERP	+0.0100%	1h	0.1001	+0.019%	$1.4M	$2.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.1002	+0.129%	$263K	$509K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.1001	+0.060%	$227K	$17K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.1001	+0.022%	$45.7M	$101.6M	75x	as long as short
Bybit XPLUSDTshort	+0.0100%	4h	0.1001	+0.016%	$48.8M	$50.6M	75x
OKX XPL-USDT-SWAP	+0.0100%	4h	0.1000	−0.014%	$9.5M	$53.4M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.1004	+0.342%	$142K	$58K	10x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.1001	+0.046%	$13.9M	$7.4M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.1001	+0.036%	$2.5M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.1001	+0.076%	$8.8M	$11.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.1001	+0.076%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.1002	+0.114%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.1005	+0.441%	$273K	$702K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.1002	+0.156%	$26K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.1001	+0.046%	$135K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.1000	−0.044%	$3K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.1000	−0.044%	$212	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.1005	+0.436%	$142K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.1001	+0.076%	$725K	$978K	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.1001	+0.085%	$39K	$5K	3x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L +0.0206% / S +0.0037%	1h	0.1001	+0.044%	$140K	—	100x	as long as short
Phoenix XPL	+0.0318%	1h	0.1004	+0.326%	$205K	$640K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.1001	+0.006%	$1.8M	$1.2M	75x	as long as short
Hyperliquid XPL	+0.0617%	1h	0.1003	+0.256%	$66.3M	$44.6M	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.1013	+1.256%	$77K	$120K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3336%	1h	0.1005	+0.427%	$298K	$700K	10x	as long as short