XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0464%/8h= −50.8% APRnext payment −$0.58 per $10,000 · paid last 24h −0.347%

Price spread now: Lighter against Coinbase International−1.311%7-day average −0.775% · you buy dearer than you sell

Net, funding: paid 7d − costs−$209as in the Funding arb table

Net, price: spread back to 7d avg − costs−$210as in the Price arb table

costs, in and out, $10k−$1571.569% of the position

Long on Coinbase International Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.516%−$52 on $10k

Price spread, last 3 days (all we have)+0.599%+$60 · spread now −1.311%, 7d avg −0.775%

Together, before fees+0.083%+ Points / potential airdropLighter: Season 3 · farm board+$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Lighter is 0.536% cheaper against Coinbase International than usual: you would sell low and buy high (−$54 if the spread goes back to its 7-day average of −0.775%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International XPL-PERP-INTX	0.09766	0.0496	pay 0.0062% / 1h	5m 03s	$78K	$95K	50x
Short	Lighter XPL	0.09638	0.0032	get 0.0004% / 1h	5m 03s	$4.4M	$4.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −1.311%Rate

Funding earned: −$97.44
Price spread: −1.311% → −0.775%: −$53.55
Slippage, 4 orders: −$146.91
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$307.91
Costs to cover: 1.569%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 48 min ago; Lighter: live order book, 3 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 Coinbase International live order book, 48 min ago	35.65 bp	71.4 bp −$71	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	2.59 bp	13.0 bp −$13	31.6 bp −$316	doesn't fit	doesn't fit

XPL on 35 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	−0.0475%	1h	0.09644	−1.249%	$46K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0296%	1h	0.09636	−1.331%	$560	$708	5x	as long as short
Backpack XPL_USDC_PERP	−0.0215%	1h	0.09648	−1.208%	$178K	$243K	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0207% / S +0.0568%	1h	0.09656	−1.129%	$111K	—	100x	as long as short
Orderly PERP_XPL_USDC	−0.0001%	4h	0.09647	−1.219%	$29K	$335K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09663	−1.054%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.481%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09657	−1.118%	$59K	—	150x	as long as short
Lighter XPLshort	+0.0032%	1h	0.09638	−1.311%	$4.4M	$4.2M	10x
OKX XPL-USDT-SWAP	+0.0042%	4h	0.09644	−1.249%	$8.3M	$53.6M	50x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPL-USD-PERP	+0.0044%	8h	0.09666	−1.020%	$13K	$2K	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09646	−1.229%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09652	−1.166%	$61.3M	$47.5M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09654	−1.150%	$246K	$500K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09669	−0.996%	$220K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09644	−1.249%	$43.7M	$108.2M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09640	−1.290%	$46.4M	$56.4M	75x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09650	−1.188%	$3.0M	$3.9M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09645	−1.239%	$12.6M	$8.0M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09648	−1.208%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09654	−1.147%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09643	−1.259%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09664	−1.041%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09665	−1.033%	$257K	$891K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09680	−0.881%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09663	−1.056%	$131K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09630	−1.393%	$3K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09640	−1.290%	$195	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09671	−0.973%	$144K	$249K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09660	−1.085%	$141K	$7K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09645	−1.236%	$655K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09644	−1.251%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0328%	1h	0.09674	−0.942%	$196K	$657K	10x	as long as short
Coinbase International XPL-PERP-INTXlong	+0.0496%	1h	0.09766	long leg	$78K	$95K	50x
Kraken Futures PF_XPLUSD	+0.4414%	1h	0.09689	−0.786%	$549K	$1.0M	10x	as long as short