XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0192%/8h= +21.1% APRnext payment +$0.24 per $10,000 · paid last 24h +0.045%

Price spread now: Pacifica against Backpack−0.161%7-day average +0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$84as in the Price arb table

costs, in and out, $10k−$670.666% of the position

Long on Backpack Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.029%−$3 on $10k

Price spread, last 4 days (all we have)−0.321%−$32 · spread now −0.161%, 7d avg +0.009%

Together, before fees−0.350%+ Points / potential airdropPacifica: Active · farm board−$35 on $10k · with fees, hour by hour

Funding pays, the price is against you. Pacifica is 0.170% cheaper against Backpack than usual: you would sell low and buy high (spread −0.161% now, against its 7-day average of +0.009%). If the spread goes back, that is −$17 on $10k: about 3.0 days of funding at the current rate (+$6 a day).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.029% in total (about -1.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.24 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	0.09705	−0.0092	get 0.0012% / 1h	34m 23s	$177K	$194K	10x
Short	Pacifica XPL	0.09689	0.0100	get 0.0013% / 1h	34m 23s	$221K	$46K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.161%Rate

Funding earned: $40.37
Price spread: −0.161% → +0.009%: −$17.02
Slippage, 4 orders: −$48.56
Fee Backpack: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$43.2
Costs to cover: 0.666%
Break-even: 14.5 days

Slippage from Backpack: live order book, 19 min ago; Pacifica: live order book, 19 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, 19 min ago	4.13 bp	12.3 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Pacifica live order book, 19 min ago	5.15 bp	24.3 bp −$24	doesn't fit	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
01 Exchange XPLUSD	−0.0416%	1h	0.09678	−0.278%	$563	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0304% / S +0.0610%	1h	0.09680	−0.261%	$107K	—	100x	as long as short
Backpack XPL_USDC_PERPlong	−0.0092%	1h	0.09705	long leg	$177K	$194K	10x
Deribit XPL_USDC-PERPETUAL	−0.0060%	1h	0.09676	−0.299%	$46K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09688	−0.175%	$9K	$585	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.989%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09680	−0.258%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0011%	4h	0.09672	−0.340%	$29K	$339K	10x	as long as short
Bybit XPLUSDT	+0.0015%	4h	0.09672	−0.340%	$45.8M	$54.3M	75x	as long as short
Paradex XPL-USD-PERP	+0.0046%	8h	0.09682	−0.232%	$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
Gate XPL_USDT	+0.0072%	4h	0.09679	−0.268%	$3.1M	$3.5M	75x	as long as short
Lighter XPL	+0.0096%	1h	0.09684	−0.216%	$4.4M	$3.0M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09676	−0.294%	$1.2M	$2.5M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09693	−0.122%	$61.5M	$46.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09690	−0.155%	$252K	$454K	20x	as long as short
Pacifica XPLshort	+0.0100%	1h	0.09689	−0.161%	$221K	$46K	10x
Binance XPLUSDT	+0.0100%	4h	0.09676	−0.299%	$44.0M	$102.1M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09672	−0.340%	$8.2M	$49.3M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09680	−0.258%	$141K	$5K	10x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09676	−0.299%	$12.7M	$7.0M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09679	−0.268%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09679	−0.268%	$8.9M	$9.8M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09675	−0.309%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09694	−0.115%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09693	−0.124%	$256K	$1.0M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09720	+0.155%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09689	−0.169%	$129K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09660	−0.464%	$3K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09700	−0.052%	$205	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09660	−0.464%	$141K	$199K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09671	−0.354%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09668	−0.382%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09718	+0.134%	$197K	$573K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09702	−0.031%	$1.7M	$979K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0640%	1h	0.09722	+0.175%	$75K	$82K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3094%	1h	0.09736	+0.316%	$554K	$989K	10x	as long as short