XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0311%/8h= −34.0% APRnext payment −$0.39 per $10,000 · paid last 24h −0.019%

Price spread now: Backpack against Extended−0.026%7-day average +0.067% · you buy dearer than you sell

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$340.343% of the position

Long on Extended Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.111%+$11 on $10k

Price spread, last 4 days (all we have)+0.622%+$62 · spread now −0.026%, 7d avg +0.067%

Together, before fees+0.733%+ Points / potential airdropExtended: Active · farm board+$73 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Backpack is 0.093% cheaper against Extended than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.067%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.111%, 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 0.111% in total (about 5.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.39 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	Extended XPL-USD	0.09789	0.0104	pay 0.0013% / 1h	1m 02s	$656K	$1.1M	25x
Short	Backpack XPL_USDC_PERP	0.09786	−0.0207	pay 0.0026% / 1h	1m 02s	$178K	$279K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Extended. 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 ExtendedbpFee BackpackbpOrdersPrice spread, now −0.026%Rate

Funding earned: −$65.28
Price spread: −0.026% → +0.067%: −$9.3
Slippage, 4 orders: −$19.32
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$108.9
Costs to cover: 0.343%
Break-even: never at this rate

Slippage from Extended: live order book, 2 min ago; Backpack: live order book, 17 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 Extended live order book, 2 min ago	1.54 bp	4.7 bp −$5	19.2 bp −$192	doesn't fit	doesn't fit
Sell Backpack live order book, 17 min ago	0.51 bp	8.6 bp −$9	doesn't fit	doesn't fit	doesn't fit

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
Backpack XPL_USDC_PERPshort	−0.0207%	1h	0.09786	−0.026%	$178K	$279K	10x
Lighter XPL	−0.0200%	1h	0.09755	−0.343%	$4.4M	$4.1M	10x	as long as short
01 Exchange XPLUSD	−0.0200%	1h	0.09756	−0.333%	$567	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0120% / S +0.0512%	1h	0.09774	−0.149%	$113K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09749	−0.408%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.660%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09770	−0.190%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09773	−0.163%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0067%	4h	0.09767	−0.220%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0086%	8h	0.09755	−0.341%	$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
Nado XPL-PERP	+0.0100%	1h	0.09767	−0.220%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09803	+0.147%	$63.4M	$47.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09783	−0.059%	$253K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09763	−0.260%	$222K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09794	+0.059%	$44.3M	$107.3M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09794	+0.056%	$48.1M	$54.9M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09788	−0.006%	$8.9M	$54.4M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09714	−0.759%	$142K	$9K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09782	−0.067%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09784	−0.047%	$12.7M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09762	−0.271%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09797	+0.086%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09786	−0.026%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09722	−0.678%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09730	−0.598%	$259K	$787K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09760	−0.292%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09774	−0.149%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09750	−0.394%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09770	−0.190%	$449	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09753	−0.363%	$138K	$246K	20x	as long as short
Extended XPL-USDlong	+0.0104%	1h	0.09789	long leg	$656K	$1.1M	25x
Aevo XPL-PERP	+0.0104%	1h	0.09767	−0.224%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09772	−0.169%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09734	−0.557%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09778	−0.108%	$72K	$104K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4573%	1h	0.09817	+0.288%	$565K	$1.0M	10x	as long as short