Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0048%/8h= +5.3% APRpaid last 24h +0.009%

Price spread now: HTX against Paradex−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 Paradex Short on HTX

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

Funding pays, the price is against you. HTX is 0.093% cheaper against Paradex than usual: you would sell low and buy high (spread −0.093% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 6.4 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex XPL-USD-PERP	0.09612	0.0052	pay 0.0052% / 8h	1h 44m	$12K	$696	5x
Short	HTX XPL-USDT	0.09603	0.0100	get 0.0050% / 4h	1h 44m	$133K	$215K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.093%Rate

Funding earned: $10.17
Price spread: −0.093% → 0.000%: −$9.26
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee HTX: 6 bp × 2 orders: −$12
Net: −$15.09
Costs to cover: 0.160%
Break-even: 17.4 days

Slippage unknown: Paradex: no order-book sample; HTX: live order book, 62 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 HTX live order book, 62 min ago	7.84 bp	61.0 bp −$61	doesn't fit	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
Lighter XPL	−0.1000%	1h	0.09601	−0.113%	$4.3M	$3.1M	10x	as long as short
01 Exchange XPLUSD	−0.0408%	1h	0.09610	−0.020%	$559	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09612	+0.005%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0270%	1h	0.09603	−0.093%	$46K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09620	+0.086%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−21.239%	—	—	—	as long as short
Orderly PERP_XPL_USDC	0.0000%	4h	0.09600	−0.124%	$30K	$280K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09614	+0.017%	$72K	—	150x	as long as short
Paradex XPL-USD-PERPlong	+0.0052%	8h	0.09612	long leg	$12K	$696	5x
Backpack XPL_USDC_PERP	+0.0067%	1h	0.09623	+0.116%	$177K	$189K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XPL-PERP	+0.0100%	1h	0.09609	−0.025%	$1.2M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09624	+0.129%	$60.8M	$46.3M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09615	+0.030%	$254K	$415K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09623	+0.120%	$220K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09605	−0.076%	$43.5M	$97.2M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09601	−0.113%	$45.5M	$52.9M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09598	−0.145%	$8.0M	$47.8M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09620	+0.084%	$140K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09610	−0.020%	$3.0M	$3.3M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09614	+0.022%	$12.5M	$6.8M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09602	−0.103%	$2.3M	$1.3M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09609	−0.030%	$8.9M	$9.5M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09604	−0.082%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09604	−0.084%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09609	−0.031%	$263K	$1.2M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09620	+0.084%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09620	+0.079%	$126K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09600	−0.124%	$2K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09620	+0.084%	$201	$9K	10x	as long as short
HTX XPL-USDTshort	+0.0100%	4h	0.09603	−0.093%	$133K	$215K	20x
Extended XPL-USD	+0.0104%	1h	0.09601	−0.115%	$606K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09600	−0.124%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09628	+0.168%	$195K	$506K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09616	+0.043%	$1.7M	$938K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.09718	+1.104%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2840%	1h	0.09640	+0.289%	$547K	$935K	10x	as long as short