Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0054%/8h= −5.9% APRpaid last 24h −0.020%

Price spread now: gTrade (Gains Network) against Paradex+0.003%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 gTrade (Gains Network)

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 airdropParadex: 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	Paradex XPL-USD-PERP	0.09678	0.0058	pay 0.0058% / 8h	2h 01m	$13K	$696	5x
Short	gTrade (Gains Network) XPL/USD	0.09678	L +0.0005% / S −0.0004%	get 0.0000% / 1h	1m 04s	$73K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now +0.003%Rate

Funding earned: −$11.37
Price spread: +0.003% → 0.000%: $0.27
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$25.1
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; gTrade (Gains Network): 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 Paradex no order-book sample	—	—	—	—	—
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

Paradex and gTrade (Gains Network): 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
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09677	−0.004%	$107K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0266%	1h	0.09678	+0.003%	$46K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0256%	1h	0.09667	−0.111%	$562	$708	5x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09688	+0.107%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.769%	—	—	—	as long as short
gTrade (Gains Network) XPL/USDshort	L +0.0005% / S −0.0004%	1h	0.09678	+0.003%	$73K	—	150x
Orderly PERP_XPL_USDC	+0.0006%	4h	0.09674	−0.039%	$29K	$284K	10x	as long as short
Lighter XPL	+0.0056%	1h	0.09670	−0.080%	$4.4M	$3.0M	10x	as long as short
Paradex XPL-USD-PERPlong	+0.0058%	8h	0.09678	long leg	$13K	$696	5x
Nado XPL-PERP	+0.0100%	1h	0.09671	−0.067%	$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	0.09690	+0.129%	$61.3M	$46.3M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09684	+0.067%	$254K	$426K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09686	+0.081%	$222K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09672	−0.062%	$43.8M	$98.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09673	−0.049%	$45.9M	$53.6M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09670	−0.080%	$8.0M	$48.7M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09678	+0.003%	$3.1M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09675	−0.028%	$12.7M	$7.0M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09684	+0.065%	$2.3M	$1.3M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09681	+0.034%	$8.9M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09673	−0.049%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09678	+0.003%	$176K	$189K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09685	+0.073%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09681	+0.035%	$256K	$1.2M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09680	+0.023%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09681	+0.036%	$127K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09650	−0.287%	$2K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09670	−0.080%	$199	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09681	+0.034%	$138K	$187K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09676	−0.018%	$141K	$0	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09667	−0.116%	$609K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09675	−0.028%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09691	+0.137%	$196K	$536K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09670	−0.080%	$1.7M	$942K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0592%	1h	0.09718	+0.416%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2862%	1h	0.09716	+0.390%	$552K	$953K	10x	as long as short