XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0149%/8h= +16.3% APRnext payment +$0.19 per $10,000 · paid last 24h +0.063%

Price spread now: Phoenix against Bulk+0.084%51s7-day average +0.117% · 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—prices read too far apart to compare

costs, in and out, $10k−$580.575% of the position

Long on Bulk Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.272%+$27 on $10k

Price spread, last 4 days (all we have)+1.134%+$113 · spread now +0.084%, 7d avg +0.117%

Together, before fees+1.406%+$141 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.034% cheaper against Bulk than usual: you would sell low and buy high (spread +0.084% now, against its 7-day average of +0.117%). If the spread goes back, that is −$3 on $10k: about 18 hours of funding at the current rate (+$4 a day). The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk XPL-USD	0.09555	0.0100	pay 0.0013% / 1h	14m 29s	$139K	$0	10x
Short	Phoenix XPL	0.09563	0.0249	get 0.0031% / 1h	14m 29s	$194K	$495K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.084%Rate

Funding earned: $31.34
Price spread: +0.084% → +0.117%: −$3.35
Slippage, 4 orders: −$43.55
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$29.56
Costs to cover: 0.575%
Break-even: 13.6 days

Slippage from Bulk: live order book, 24 min ago; Phoenix: live order book, 23 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, 24 min ago	5.23 bp	18.7 bp −$19	22.1 bp −$221	51.9 bp −$5,190	doesn't fit
Sell Phoenix live order book, 23 min ago	1.05 bp	15.0 bp −$15	48.1 bp −$481	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
Lighter XPL	−0.1432%	1h	0.09546	−0.094%	$4.3M	$3.2M	10x	as long as short
01 Exchange XPLUSD	−0.0488%	1h	0.09547	−0.084%	$555	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09552	−0.033%	$105K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0064%	1h	0.09550	−0.052%	$46K	$18K	25x	as long as short
Paradex XPL-USD-PERP	−0.0037%	8h	0.09564	+0.097%	$12K	$696	5x	as long as short
Orderly PERP_XPL_USDC	−0.0028%	4h	0.09544	−0.115%	$30K	$277K	10x	as long as short
Bybit XPLUSDT	−0.0026%	4h	0.09553	−0.021%	$45.5M	$54.0M	75x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09568	+0.135%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.767%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09551	−0.043%	$72K	—	150x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX XPL-USDT-SWAP	+0.0053%	4h	0.09554	−0.010%	$7.7M	$47.7M	50x	as long as short
Extended XPL-USD	+0.0088%	1h	0.09554	−0.008%	$595K	$1.2M	25x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09556	+0.008%	$1.3M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09575	+0.209%	$60.4M	$46.0M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09561	+0.067%	$252K	$419K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09568	+0.132%	$219K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09555	0.000%	$43.2M	$97.8M	75x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09558	+0.031%	$2.9M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09562	+0.073%	$12.4M	$6.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09560	+0.052%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09566	+0.115%	$9.0M	$9.9M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09556	+0.010%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09556	+0.010%	$179K	$183K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09545	−0.104%	$1.7M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09547	−0.087%	$254K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09560	+0.052%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09569	+0.144%	$125K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09530	−0.262%	$2K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09550	−0.052%	$195	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09544	−0.115%	$132K	$212K	20x	as long as short
Bulk XPL-USDlong	+0.0100%	1h	0.09555	long leg	$139K	$0	10x
Aevo XPL-PERP	+0.0104%	1h	0.09545	−0.106%	$28K	$18K	3x	as long as short
Phoenix XPLshort	+0.0249%	1h	0.09563	+0.084%	$194K	$495K	10x
BloFin XPL-USDT	+0.0340%	4h	0.09548	−0.073%	$1.7M	$923K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0808%	1h	0.09535	−0.209%	$64K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2740%	1h	0.09574	+0.194%	$540K	$939K	10x	as long as short