XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.1400%/8h= −153.3% APRnext payment −$1.75 per $10,000 · paid last 24h −0.142%

Price spread now: Lighter against Extended−0.100%7-day average +0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$210.213% of the position

Long on Extended Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.504%−$50 on $10k

Price spread, last 7 days+0.013%+$1 · spread now −0.100%, 7d avg +0.013%

Together, before fees−0.491%+ Points / potential airdropExtended: Active · Lighter: Season 3 · farm board−$49 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$42 a day on $10k at the current rate, and Lighter is 0.113% cheaper against Extended than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.013%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.504% in total (about -26.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.75 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	0.09499	0.0104	pay 0.0013% / 1h	39m 14s	$588K	$1.1M	25x
Short	Lighter XPL	0.09489	−0.1296	pay 0.0162% / 1h	39m 14s	$4.3M	$3.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.100%Rate

Funding earned: −$294
Price spread: −0.100% → +0.013%: −$11.29
Slippage, 4 orders: −$16.31
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Lighter: 0 bp × 2 orders: $0
Net: −$326.6
Costs to cover: 0.213%
Break-even: never at this rate

Slippage from Extended: live order book, 4 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 Extended live order book, 4 min ago	1.05 bp	5.8 bp −$6	20.2 bp −$202	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	1.58 bp	6.1 bp −$6	32.5 bp −$325	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
Lighter XPLshort	−0.1296%	1h	0.09489	−0.100%	$4.3M	$3.1M	10x
01 Exchange XPLUSD	−0.0440%	1h	0.09497	−0.016%	$552	$873	5x	as long as short
Bybit XPLUSDT	−0.0348%	4h	0.09500	+0.016%	$45.1M	$54.1M	75x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0276%	1h	0.09504	+0.058%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09505	+0.064%	$105K	—	100x	as long as short
Paradex XPL-USD-PERP	−0.0104%	8h	0.09507	+0.089%	$12K	$696	5x	as long as short
Gate XPL_USDT	−0.0080%	4h	0.09497	−0.016%	$2.9M	$3.3M	75x	as long as short
OKX XPL-USDT-SWAP	−0.0028%	4h	0.09501	+0.026%	$7.6M	$47.4M	50x	as long as short
Orderly PERP_XPL_USDC	−0.0025%	4h	0.09499	+0.005%	$30K	$261K	10x	as long as short
Backpack XPL_USDC_PERP	−0.0013%	1h	0.09518	+0.205%	$178K	$179K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX XPL-USD	0.0000%	1h	0.09515	+0.172%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.295%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09505	+0.067%	$72K	—	150x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09499	+0.010%	$1.3M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09510	+0.126%	$60.2M	$45.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09509	+0.112%	$251K	$402K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09521	+0.236%	$218K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09499	+0.005%	$43.3M	$98.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09497	−0.016%	$12.5M	$6.5M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09499	+0.005%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09511	+0.132%	$9.0M	$9.9M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09499	+0.005%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09516	+0.183%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09520	+0.226%	$255K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09520	+0.226%	$25K	$73K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09518	+0.201%	$125K	$1.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09480	−0.195%	$3K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09500	+0.016%	$193	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09501	+0.026%	$131K	$213K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09540	+0.441%	$139K	$0	10x	as long as short
Extended XPL-USDlong	+0.0104%	1h	0.09499	long leg	$588K	$1.1M	25x
Aevo XPL-PERP	+0.0104%	1h	0.09500	+0.016%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09548	+0.521%	$193K	$494K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09513	+0.153%	$1.7M	$922K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0536%	1h	0.09596	+1.026%	$64K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2722%	1h	0.09529	+0.324%	$541K	$954K	10x	as long as short