XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0646%/8h= +70.8% APRnext payment +$0.81 per $10,000 · paid last 24h +0.139%

Price spread now: Phoenix against Deribit+0.299%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 Phoenix

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

Both sides work for this trade now. Funding pays +$19 a day on $10k at the current rate, and Phoenix is 0.299% dearer against Deribit than usual: you sell high and buy low: +$30 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit XPL_USDC-PERPETUAL	0.09713	−0.0162	get 0.0020% / 1h	49m 12s	$47K	$18K	25x
Short	Phoenix XPL	0.09742	0.0485	get 0.0061% / 1h	49m 12s	$199K	$646K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.299%Rate

Funding earned: $135.74
Price spread: +0.299% → 0.000%: $29.86
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $151.6
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Deribit: no order-book sample; Phoenix: live order book, 38 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 Phoenix live order book, 38 min ago	1.01 bp	14.6 bp −$15	48.3 bp −$483	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 XPL	−0.0304%	1h	0.09701	−0.124%	$4.4M	$4.2M	10x	as long as short
Backpack XPL_USDC_PERP	−0.0219%	1h	0.09731	+0.185%	$180K	$283K	10x	as long as short
Deribit XPL_USDC-PERPETUALlong	−0.0162%	1h	0.09713	long leg	$47K	$18K	25x
GMX XPL/USD [WBTC.b-USDC]	L −0.0067% / S +0.0477%	1h	0.09713	+0.003%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09722	+0.093%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.055%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09714	+0.008%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0080%	4h	0.09708	−0.051%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0095%	8h	0.09711	−0.021%	$13K	$2K	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09717	+0.041%	$1.4M	$2.6M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid XPL	+0.0100%	1h	0.09715	+0.016%	$62.6M	$46.9M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09715	+0.026%	$252K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09715	+0.025%	$220K	$19K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09708	−0.051%	$44.2M	$104.0M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09704	−0.093%	$46.8M	$52.5M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09713	0.000%	$9.0M	$52.7M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09704	−0.093%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09707	−0.062%	$12.7M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09713	0.000%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09716	+0.031%	$8.6M	$11.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09707	−0.062%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09735	+0.222%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09737	+0.248%	$264K	$782K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09740	+0.278%	$25K	$86K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09717	+0.043%	$131K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09690	−0.237%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09710	−0.031%	$206	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09726	+0.134%	$138K	$245K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09730	+0.175%	$140K	$11K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09712	−0.011%	$653K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09715	+0.024%	$38K	$5K	3x	as long as short
01 Exchange XPLUSD	+0.0216%	1h	0.09706	−0.072%	$564	$582	5x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09708	−0.051%	$1.8M	$1.1M	75x	as long as short
Phoenix XPLshort	+0.0485%	1h	0.09742	+0.299%	$199K	$646K	10x
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09965	+2.594%	$75K	$106K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3483%	1h	0.09816	+1.064%	$518K	$932K	10x	as long as short