Funding arb · Price arb /

XPL

all XPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.010%

Price spread now: Nado against Paradex+0.011%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 Nado

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 · Nado: 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: +$1 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	0.09581	0.0060	pay 0.0060% / 8h	2h 48m	$12K	$696	5x
Short	Nado XPL-PERP	0.09582	0.0100	get 0.0012% / 1h	48m 47s	$1.2M	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.011%Rate

Funding earned: $8.45
Price spread: +0.011% → 0.000%: $1.15
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$1.4
Costs to cover: 0.110%
Break-even: 8.2 days

Slippage unknown: Paradex: no order-book sample; Nado: live order book, 5 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 Nado live order book, 5 min ago	1.56 bp	8.2 bp −$8	18.2 bp −$182	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
Deribit XPL_USDC-PERPETUAL	−0.0272%	1h	0.09582	+0.011%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09587	+0.063%	$106K	—	100x	as long as short
01 Exchange XPLUSD	−0.0192%	1h	0.09577	−0.041%	$557	$708	5x	as long as short
Lighter XPL	−0.0016%	1h	0.09578	−0.030%	$4.3M	$3.0M	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09588	+0.073%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.980%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09588	+0.069%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0015%	4h	0.09580	−0.009%	$29K	$329K	10x	as long as short
Paradex XPL-USD-PERPlong	+0.0060%	8h	0.09581	long leg	$12K	$696	5x
Nado XPL-PERPshort	+0.0100%	1h	0.09582	+0.011%	$1.2M	$2.4M	10x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid XPL	+0.0100%	1h	0.09592	+0.116%	$60.6M	$46.8M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09580	−0.009%	$248K	$425K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09591	+0.106%	$219K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09576	−0.051%	$43.4M	$100.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09573	−0.082%	$45.4M	$54.3M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09578	−0.030%	$8.1M	$48.4M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09592	+0.111%	$140K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09571	−0.103%	$3.1M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09569	−0.124%	$12.5M	$6.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09564	−0.176%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09583	+0.022%	$9.1M	$9.8M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09577	−0.041%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09582	+0.011%	$174K	$190K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09610	+0.302%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09608	+0.288%	$258K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09620	+0.408%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09592	+0.120%	$128K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09560	−0.218%	$2K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09580	−0.009%	$200	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09596	+0.158%	$140K	$184K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09567	−0.146%	$637K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09580	−0.009%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09626	+0.471%	$195K	$536K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09575	−0.062%	$1.7M	$946K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0592%	1h	0.09640	+0.617%	$67K	$91K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2892%	1h	0.09612	+0.321%	$546K	$988K	10x	as long as short