XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0622%/8h= −68.1% APRnext payment −$0.78 per $10,000 · paid last 24h −0.120%

Price spread now: GMX against Bulk+0.167%7-day average −0.013% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bulk Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.177%−$18 on $10k

Price spread, last 3 days (all we have)+0.081%+$8 · spread now +0.167%, 7d avg −0.013%

Together, before fees−0.097%−$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. GMX is 0.180% dearer against Bulk than usual: you sell high and buy low (spread +0.167% now, against its 7-day average of −0.013%): +$18 on $10k if it goes back. Holding the pair costs −$19 a day in funding at the current rate, which eats that in about 23 hours. At the pace of the last 3 days (−0.177% in total) that is about 3.2 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.177% in total (about -20.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.78 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	Bulk XPL-USD	0.09700	0.0100	pay 0.0013% / 1h	29m 50s	$141K	$9K	10x
Short	GMX XPL/USD [WBTC.b-USDC]	0.09716	L −0.0135% / S +0.0522%	pay 0.0065% / 1h	29m 50s	$112K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bulk. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BulkbpFee GMXbpOrdersPrice spread, now +0.167%Rate

Funding earned: −$130.55
Price spread: +0.167% → −0.013%: $18.01
Slippage, 4 orders: no order book: not counted
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee GMX: 6 bp × 2 orders: −$12
Net: −$131.54
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Bulk: live order book, 49 min ago; GMX: no order-book sample. 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 Bulk live order book, 49 min ago	5.15 bp	8.6 bp −$9	14.8 bp −$148	45.9 bp −$4,590	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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
Lighter XPL	−0.0616%	1h	0.09705	+0.053%	$4.4M	$4.2M	10x	as long as short
01 Exchange XPLUSD	−0.0416%	1h	0.09694	−0.060%	$564	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]short	L −0.0135% / S +0.0522%	1h	0.09716	+0.167%	$112K	—	100x
Deribit XPL_USDC-PERPETUAL	−0.0059%	1h	0.09714	+0.146%	$47K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09710	+0.110%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−21.953%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09714	+0.150%	$76K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0019%	8h	0.09695	−0.049%	$13K	$2K	5x	as long as short
Orderly PERP_XPL_USDC	+0.0051%	4h	0.09708	+0.084%	$29K	$335K	10x	as long as short
Gate XPL_USDT	+0.0072%	4h	0.09717	+0.177%	$3.0M	$4.0M	75x	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	0.09702	+0.022%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09723	+0.242%	$62.7M	$48.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09717	+0.178%	$252K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09704	+0.040%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09718	+0.187%	$44.2M	$108.2M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09717	+0.177%	$47.3M	$55.3M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09715	+0.156%	$8.7M	$54.3M	50x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09711	+0.115%	$12.7M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09716	+0.167%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09725	+0.260%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09716	+0.167%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09713	+0.136%	$179K	$281K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09696	−0.035%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09710	+0.105%	$260K	$806K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09710	+0.105%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09716	+0.163%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09690	−0.101%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09710	+0.105%	$197	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09699	−0.008%	$138K	$233K	20x	as long as short
Bulk XPL-USDlong	+0.0100%	1h	0.09700	long leg	$141K	$9K	10x
Extended XPL-USD	+0.0104%	1h	0.09708	+0.081%	$653K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09715	+0.156%	$38K	$5K	3x	as long as short
Phoenix XPL	+0.0327%	1h	0.09721	+0.218%	$197K	$651K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09700	+0.002%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0568%	1h	0.09825	+1.291%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5110%	1h	0.09769	+0.710%	$563K	$1.0M	10x	as long as short