XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0377%/8h= −41.3% APRnext payment −$0.47 per $10,000 · paid last 24h −0.073%

Price spread now: Lighter against Deribit−0.164%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Lighter

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—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Lighter is 0.164% cheaper against Deribit than usual: you would sell low and buy high (−$16 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit XPL_USDC-PERPETUAL	0.09773	−0.0159	get 0.0020% / 1h	5m 07s	$47K	$18K	25x
Short	Lighter XPL	0.09757	−0.0536	pay 0.0067% / 1h	5m 07s	$4.4M	$4.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.164%Rate

Funding earned: −$79.14
Price spread: −0.164% → 0.000%: −$16.37
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$102.52
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Deribit: no order-book sample; Lighter: 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 Deribit no order-book sample	—	—	—	—	—
Sell Lighter live order book, 7 min ago	2.58 bp	5.4 bp −$5	21.5 bp −$215	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
Lighter XPLshort	−0.0536%	1h	0.09757	−0.164%	$4.4M	$4.2M	10x
01 Exchange XPLUSD	−0.0376%	1h	0.09767	−0.061%	$568	$708	5x	as long as short
Deribit XPL_USDC-PERPETUALlong	−0.0159%	1h	0.09773	long leg	$47K	$18K	25x
GMX XPL/USD [WBTC.b-USDC]	L −0.0147% / S +0.0530%	1h	0.09778	+0.051%	$113K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09771	−0.025%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.537%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09778	+0.055%	$76K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0011%	8h	0.09770	−0.035%	$13K	$2K	5x	as long as short
Orderly PERP_XPL_USDC	+0.0037%	4h	0.09770	−0.031%	$29K	$335K	10x	as long as short
Gate XPL_USDT	+0.0040%	4h	0.09769	−0.041%	$3.0M	$4.1M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XPL-PERP	+0.0100%	1h	0.09766	−0.072%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09783	+0.106%	$63.1M	$48.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09776	+0.032%	$253K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09772	−0.006%	$222K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09769	−0.042%	$44.6M	$108.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09765	−0.082%	$47.3M	$55.7M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09765	−0.082%	$8.7M	$55.0M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09760	−0.133%	$142K	$9K	10x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09770	−0.031%	$12.8M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09774	+0.010%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09772	−0.010%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09764	−0.092%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09773	0.000%	$181K	$282K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09760	−0.131%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09750	−0.235%	$258K	$814K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09770	−0.031%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09786	+0.129%	$131K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09750	−0.235%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09770	−0.031%	$199	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09768	−0.051%	$142K	$242K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09769	−0.037%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09775	+0.016%	$38K	$5K	3x	as long as short
Phoenix XPL	+0.0327%	1h	0.09782	+0.092%	$198K	$651K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09766	−0.072%	$1.7M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0568%	1h	0.09735	−0.389%	$72K	$96K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5085%	1h	0.09818	+0.459%	$567K	$1.0M	10x	as long as short