XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0311%/8h= +34.0% APRnext payment +$0.39 per $10,000 · paid last 24h +0.019%

Price spread now: Extended against Backpack−0.224%7-day average −0.067% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$340.343% of the position

Long on Backpack Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.111%−$11 on $10k

Price spread, last 4 days (all we have)−0.372%−$37 · spread now −0.224%, 7d avg −0.067%

Together, before fees−0.483%+ Points / potential airdropExtended: Active · farm board−$48 on $10k · with fees, hour by hour

Funding pays, the price is against you. Extended is 0.158% cheaper against Backpack than usual: you would sell low and buy high (spread −0.224% now, against its 7-day average of −0.067%). If the spread goes back, that is −$16 on $10k: about 41 hours of funding at the current rate (+$9 a day). Mind the row above: over the last 7 days funding on this pair cost −0.111%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.111% in total (about -5.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.39 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack XPL_USDC_PERP	0.09786	−0.0207	get 0.0026% / 1h	1m 14s	$178K	$279K	10x
Short	Extended XPL-USD	0.09764	0.0104	get 0.0013% / 1h	1m 14s	$656K	$1.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Backpack. 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 BackpackbpFee ExtendedbpOrdersPrice spread, now −0.224%Rate

Funding earned: $65.28
Price spread: −0.224% → −0.067%: −$15.76
Slippage, 4 orders: −$19.32
Fee Backpack: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $15.2
Costs to cover: 0.343%
Break-even: 5.4 days

Slippage from Backpack: live order book, 17 min ago; Extended: live order book, 2 min ago.

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 Backpack live order book, 17 min ago	0.51 bp	11.8 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 2 min ago	1.54 bp	9.2 bp −$9	19.4 bp −$194	doesn't fit	doesn't fit

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
Backpack XPL_USDC_PERPlong	−0.0207%	1h	0.09786	long leg	$178K	$279K	10x
Lighter XPL	−0.0200%	1h	0.09755	−0.317%	$4.4M	$4.1M	10x	as long as short
01 Exchange XPLUSD	−0.0200%	1h	0.09756	−0.307%	$567	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0120% / S +0.0512%	1h	0.09774	−0.123%	$113K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09749	−0.382%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.640%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09770	−0.163%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09773	−0.137%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0067%	4h	0.09767	−0.194%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0086%	8h	0.09755	−0.315%	$13K	$2K	5x	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	0.09767	−0.194%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09777	−0.089%	$63.3M	$47.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09776	−0.103%	$253K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09763	−0.234%	$222K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09777	−0.094%	$44.2M	$107.2M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09789	+0.031%	$48.1M	$54.9M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09782	−0.041%	$8.9M	$54.4M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09714	−0.733%	$142K	$9K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09768	−0.184%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09784	−0.020%	$12.7M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09762	−0.245%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09795	+0.092%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09786	0.000%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09722	−0.652%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09730	−0.572%	$259K	$787K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09760	−0.266%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09774	−0.123%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09750	−0.368%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09770	−0.163%	$449	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09753	−0.337%	$138K	$246K	20x	as long as short
Extended XPL-USDshort	+0.0104%	1h	0.09764	−0.224%	$656K	$1.1M	25x
Aevo XPL-PERP	+0.0104%	1h	0.09767	−0.198%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09772	−0.143%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09734	−0.531%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09778	−0.082%	$72K	$104K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4573%	1h	0.09817	+0.314%	$565K	$1.0M	10x	as long as short