XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0023%/8h= −2.5% APRnext payment −$0.03 per $10,000 · paid last 24h +0.028%

Price spread now: Backpack against Deribit+0.063%7-day average — · you sell dearer than you buy

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

Long on Deribit Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Backpack is 0.063% dearer against Deribit than usual: you sell high and buy low (spread +0.063% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 9.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit XPL_USDC-PERPETUAL	0.09550	−0.0169	get 0.0021% / 1h	54m 15s	$46K	$18K	25x
Short	Backpack XPL_USDC_PERP	0.09556	−0.0192	pay 0.0024% / 1h	54m 15s	$177K	$227K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Deribit. 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 DeribitbpFee BackpackbpOrdersPrice spread, now +0.063%Rate

Funding earned: −$4.86
Price spread: +0.063% → 0.000%: $6.28
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$15.58
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Deribit: no order-book sample; Backpack: live order book, 4 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 Deribit no order-book sample	—	—	—	—	—
Sell Backpack live order book, 4 min ago	1.57 bp	12.0 bp −$12	doesn't fit	doesn't fit	doesn't fit

Deribit: 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	−0.0392%	1h	0.09552	+0.021%	$555	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0288% / S +0.0599%	1h	0.09556	+0.066%	$105K	—	100x	as long as short
Backpack XPL_USDC_PERPshort	−0.0192%	1h	0.09556	+0.063%	$177K	$227K	10x
Deribit XPL_USDC-PERPETUALlong	−0.0169%	1h	0.09550	long leg	$46K	$18K	25x
Bybit XPLUSDT	−0.0130%	4h	0.09547	−0.031%	$45.2M	$56.1M	75x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09570	+0.206%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.726%	—	—	—	as long as short
Orderly PERP_XPL_USDC	+0.0002%	4h	0.09545	−0.052%	$29K	$335K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09558	+0.081%	$72K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0068%	8h	0.09560	+0.101%	$12K	$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	+0.0084%	4h	0.09555	+0.052%	$8.2M	$50.2M	50x	as long as short
Lighter XPL	+0.0096%	1h	0.09543	−0.073%	$4.3M	$3.3M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09559	+0.094%	$1.2M	$2.7M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09571	+0.221%	$60.0M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09563	+0.136%	$242K	$488K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09570	+0.210%	$218K	$48K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09550	0.000%	$43.2M	$106.0M	75x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09556	+0.063%	$3.0M	$3.5M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09551	+0.010%	$12.3M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09557	+0.073%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09557	+0.073%	$8.5M	$10.5M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09551	+0.010%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09536	−0.147%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09565	+0.158%	$262K	$941K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09570	+0.209%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09566	+0.170%	$127K	$2.1M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09530	−0.209%	$3K	$1.8M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09550	0.000%	$2K	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09565	+0.157%	$143K	$238K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09565	+0.157%	$139K	$5K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09548	−0.017%	$647K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09545	−0.052%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09576	+0.272%	$194K	$617K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09530	−0.209%	$1.7M	$993K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0616%	1h	0.09606	+0.586%	$74K	$86K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3328%	1h	0.09586	+0.377%	$543K	$978K	10x	as long as short