XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0396%/8h= −43.4% APRnext payment −$0.50 per $10,000 · paid last 24h −0.153%

Price spread now: Hyperliquid against Coinbase International−0.212%7-day average — · you buy dearer than you sell

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

Long on Coinbase International Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.094%+$9 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Hyperliquid is 0.212% cheaper against Coinbase International than usual: you would sell low and buy high (−$21 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.094%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.094% in total (about 4.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.50 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	Coinbase International XPL-PERP-INTX	0.09776	0.0496	pay 0.0062% / 1h	56m 40s	$77K	$100K	50x
Short	Hyperliquid XPL	0.09755	0.0100	get 0.0013% / 1h	56m 40s	$63.2M	$47.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Coinbase International. 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 Coinbase InternationalbpFee HyperliquidbpOrdersPrice spread, now −0.212%Rate

Funding earned: −$83.16
Price spread: −0.212% → 0.000%: −$21.17
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$123.33
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; Hyperliquid: live order book, 7 min ago. 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 Coinbase International no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 7 min ago	1.12 bp	14.0 bp −$14	doesn't fit	doesn't fit	doesn't fit

Coinbase International: 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
01 Exchange XPLUSD	−0.0264%	1h	0.09718	−0.593%	$565	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0181% / S +0.0551%	1h	0.09769	−0.075%	$112K	—	100x	as long as short
Lighter XPL	−0.0104%	1h	0.09735	−0.419%	$4.4M	$4.1M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0057%	1h	0.09772	−0.041%	$47K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09733	−0.441%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.559%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09770	−0.058%	$59K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0012%	4h	0.09768	−0.082%	$29K	$335K	10x	as long as short
Nado XPL-PERP	+0.0049%	1h	0.09784	+0.087%	$1.2M	$2.8M	10x	as long as short
Paradex XPL-USD-PERP	+0.0051%	8h	0.09741	−0.360%	$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
OKX XPL-USDT-SWAP	+0.0051%	4h	0.09707	−0.706%	$8.6M	$55.2M	50x	as long as short
Hyperliquid XPLshort	+0.0100%	1h	0.09755	−0.212%	$63.2M	$47.1M	10x
Aster XPLUSDT	+0.0100%	4h	0.09759	−0.171%	$257K	$551K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09741	−0.354%	$222K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09732	−0.455%	$44.5M	$109.2M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09722	−0.552%	$47.2M	$56.6M	75x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09712	−0.655%	$3.0M	$3.7M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09730	−0.471%	$12.9M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09749	−0.276%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09715	−0.624%	$8.7M	$11.2M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09708	−0.696%	—	$8.0M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09763	−0.133%	$184K	$237K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09762	−0.145%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09746	−0.310%	$259K	$844K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09780	+0.041%	$25K	$89K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09798	+0.227%	$131K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09760	−0.164%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09770	−0.061%	$491	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09761	−0.153%	$142K	$244K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09755	−0.215%	$142K	$2K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09707	−0.704%	$656K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09761	−0.149%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09794	+0.184%	$198K	$657K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09751	−0.256%	$1.8M	$1.1M	75x	as long as short
Coinbase International XPL-PERP-INTXlong	+0.0496%	1h	0.09776	long leg	$77K	$100K	50x
Kraken Futures PF_XPLUSD	+0.4358%	1h	0.09815	+0.401%	$568K	$1.0M	10x	as long as short