Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0035%/8h= +3.8% APRpaid last 24h +0.009%

Price spread now: KuCoin against Paradex−0.063%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 KuCoin

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. KuCoin is 0.063% cheaper against Paradex than usual: you would sell low and buy high (spread −0.063% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 6.0 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	0.09670	0.0065	pay 0.0065% / 8h	6h 17m	$13K	$2K	5x
Short	KuCoin XPLUSDTM	0.09664	0.0100	get 0.0050% / 4h	2h 17m	$2.3M	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.063%Rate

Funding earned: $7.38
Price spread: −0.063% → 0.000%: −$6.32
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$14.94
Costs to cover: 0.160%
Break-even: 21.2 days

Slippage unknown: Paradex: no order-book sample; KuCoin: 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 KuCoin live order book, 4 min ago	10.35 bp	33.4 bp −$33	144.5 bp −$1,445	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 35 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
01 Exchange XPLUSD	−0.0232%	1h	0.09659	−0.115%	$562	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0201% / S +0.0564%	1h	0.09682	+0.124%	$111K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0176%	1h	0.09675	+0.051%	$179K	$244K	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0163%	1h	0.09677	+0.071%	$46K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09675	+0.051%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.711%	—	—	—	as long as short
Orderly PERP_XPL_USDC	+0.0001%	4h	0.09676	+0.061%	$29K	$335K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09683	+0.133%	$60K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0058%	4h	0.09668	−0.022%	$8.4M	$54.5M	50x	as long as short
Paradex XPL-USD-PERPlong	+0.0065%	8h	0.09670	long leg	$13K	$2K	5x

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPL	+0.0096%	1h	0.09664	−0.063%	$4.4M	$4.2M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09667	−0.032%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09681	+0.113%	$61.8M	$47.8M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09675	+0.052%	$246K	$513K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09677	+0.074%	$220K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09669	−0.012%	$43.9M	$109.5M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09666	−0.043%	$46.6M	$57.5M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09675	+0.054%	$141K	$7K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09667	−0.032%	$3.0M	$3.9M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09668	−0.022%	$12.7M	$7.9M	100x	as long as short
KuCoin XPLUSDTMshort	+0.0100%	4h	0.09664	−0.063%	$2.3M	$1.5M	50x
Bitget XPLUSDT	+0.0100%	4h	0.09666	−0.043%	$8.6M	$11.2M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09666	−0.043%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09664	−0.066%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09673	+0.027%	$264K	$877K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09670	−0.001%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09683	+0.130%	$130K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09660	−0.105%	$3K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09680	+0.102%	$194	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09678	+0.082%	$143K	$258K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09664	−0.064%	$655K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09677	+0.074%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0328%	1h	0.09686	+0.164%	$196K	$657K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0496%	1h	0.09766	+0.992%	$78K	$95K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4402%	1h	0.09717	+0.485%	$551K	$1.0M	10x	as long as short