XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0122%/8h= +13.4% APRnext payment +$0.15 per $10,000 · paid last 24h +0.021%

Price spread now: Nado against Backpack−0.092%7-day average 0.000% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$390.390% of the position

Long on Backpack Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.030%+$3 on $10k

Price spread, last 3 days (all we have)+0.421%+$42 · spread now −0.092%, 7d avg 0.000%

Together, before fees+0.451%+ Points / potential airdropNado: Active · farm board+$45 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.092% cheaper against Backpack than usual: you would sell low and buy high (spread −0.092% now, against its 7-day average of 0.000%). If the spread goes back, that is −$9 on $10k: about 2.5 days of funding at the current rate (+$4 a day). At the pace of the last 3 days (+0.030% in total) that is about 9.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack XPL_USDC_PERP	0.09756	−0.0022	get 0.0003% / 1h	14m 55s	$178K	$283K	10x
Short	Nado XPL-PERP	0.09747	0.0100	get 0.0012% / 1h	14m 55s	$1.4M	$2.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.092%Rate

Funding earned: $25.63
Price spread: −0.092% → 0.000%: −$9.18
Slippage, 4 orders: −$22
Fee Backpack: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$22.55
Costs to cover: 0.390%
Break-even: 13.2 days

Slippage from Backpack: live order book, 8 min ago; Nado: live order book, 4 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, 8 min ago	1.02 bp	14.8 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 4 min ago	1.53 bp	8.0 bp −$8	19.3 bp −$193	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
Deribit XPL_USDC-PERPETUAL	−0.0159%	1h	0.09765	+0.092%	$47K	$18K	25x	as long as short
Lighter XPL	−0.0096%	1h	0.09751	−0.051%	$4.4M	$4.3M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0084% / S +0.0488%	1h	0.09742	−0.140%	$112K	—	100x	as long as short
01 Exchange XPLUSD	−0.0048%	1h	0.09738	−0.185%	$566	$582	5x	as long as short
Backpack XPL_USDC_PERPlong	−0.0022%	1h	0.09756	long leg	$178K	$283K	10x
dYdX XPL-USD	0.0000%	1h	0.09751	−0.051%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.401%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09746	−0.104%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0083%	4h	0.09741	−0.154%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0091%	8h	0.09741	−0.159%	$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-PERPshort	+0.0100%	1h	0.09747	−0.092%	$1.4M	$2.6M	10x
Hyperliquid XPL	+0.0100%	1h	0.09774	+0.185%	$62.9M	$47.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09766	+0.098%	$253K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09747	−0.091%	$221K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09745	−0.118%	$44.0M	$105.1M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09741	−0.154%	$47.5M	$53.5M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09743	−0.133%	$9.0M	$53.3M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09815	+0.605%	$141K	$11K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09748	−0.082%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09751	−0.051%	$12.7M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09753	−0.031%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09753	−0.031%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09743	−0.133%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09749	−0.071%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09751	−0.056%	$264K	$775K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09770	+0.144%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09749	−0.073%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09720	−0.369%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09760	+0.041%	$201	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09753	−0.031%	$138K	$245K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09747	−0.094%	$661K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09766	+0.107%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09764	+0.082%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09771	+0.154%	$198K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09783	+0.277%	$74K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3484%	1h	0.09815	+0.610%	$517K	$944K	10x	as long as short