XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0044%/8h= −4.8% APRnext payment −$0.06 per $10,000 · paid last 24h −0.148%

Price spread now: Lighter against Bulk+0.421%7-day average −0.082% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs+$5as in the Price arb table

costs, in and out, $10k−$450.451% of the position

Long on Bulk Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.214%−$21 on $10k

Price spread, last 4 days (all we have)−0.617%−$62 · spread now +0.421%, 7d avg −0.082%

Together, before fees−0.831%+ Points / potential airdropLighter: Season 3 · farm board−$83 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.503% dearer against Bulk than usual: you sell high and buy low (spread +0.421% now, against its 7-day average of −0.082%): +$50 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 38 days. At the pace of the last 3 days (−0.214% in total) that is about 7.8 days.

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	54m 01s	$140K	$10K	10x
Short	Lighter XPL	0.09741	0.0056	get 0.0007% / 1h	54m 01s	$4.4M	$4.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bulk. 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 BulkbpFee LighterbpOrdersPrice spread, now +0.421%Rate

Funding earned: −$9.24
Price spread: +0.421% → −0.082%: $50.3
Slippage, 4 orders: −$38.14
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$4.07
Costs to cover: 0.451%
Break-even: from the start

Slippage from Bulk: live order book, 30 min ago; Lighter: 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 Bulk live order book, 30 min ago	5.11 bp	8.6 bp −$9	15.8 bp −$158	36.5 bp −$3,646	130.4 bp −$65.2K
Sell Lighter live order book, 4 min ago	3.59 bp	23.3 bp −$23	39.3 bp −$393	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	−0.0467%	1h	0.09751	+0.524%	$47K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0112%	1h	0.09758	+0.596%	$567	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0094% / S +0.0495%	1h	0.09760	+0.621%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09770	+0.715%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.953%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09758	+0.600%	$72K	—	150x	as long as short
Lighter XPLshort	+0.0056%	1h	0.09741	+0.421%	$4.4M	$4.1M	10x
Orderly PERP_XPL_USDC	+0.0080%	4h	0.09752	+0.534%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0090%	8h	0.09763	+0.651%	$13K	$2K	5x	as long as short
Backpack XPL_USDC_PERP	+0.0093%	1h	0.09754	+0.555%	$178K	$281K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster XPLUSDT	+0.0100%	4h	0.09756	+0.577%	$252K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09771	+0.732%	$222K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09743	+0.438%	$43.8M	$105.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09745	+0.462%	$47.6M	$53.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09741	+0.421%	$9.0M	$53.5M	50x	as long as short
Bulk XPL-USDlong	+0.0100%	1h	0.09700	long leg	$140K	$10K	10x
Gate XPL_USDT	+0.0100%	4h	0.09750	+0.513%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09748	+0.493%	$12.6M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09749	+0.503%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09750	+0.513%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09747	+0.482%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09767	+0.690%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09751	+0.521%	$264K	$775K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09750	+0.513%	$25K	$87K	50x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09760	+0.616%	$1.4M	$2.7M	10x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09773	+0.751%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09750	+0.513%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09750	+0.513%	$202	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09771	+0.730%	$139K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09749	+0.502%	$660K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09754	+0.555%	$38K	$5K	3x	as long as short
Hyperliquid XPL	+0.0119%	1h	0.09764	+0.660%	$62.9M	$47.4M	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09770	+0.720%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09726	+0.266%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09794	+0.967%	$74K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4583%	1h	0.09794	+0.970%	$517K	$952K	10x	as long as short