XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0192%/8h= −21.0% APRnext payment −$0.24 per $10,000 · paid last 24h +0.009%

Price spread now: Backpack against gTrade (Gains Network)+0.143%7-day average — · you sell dearer than you buy

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

Long on gTrade (Gains Network)Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 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 0.143% dearer against gTrade (Gains Network) than usual: you sell high and buy low (spread +0.143% now, against zero (this spread has no 7-day history yet)): +$14 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 2.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) XPL/USD	0.09829	L +0.0005% / S −0.0004%	pay 0.0001% / 1h	56m 19s	$72K	—	150x
Short	Backpack XPL_USDC_PERP	0.09843	−0.0186	pay 0.0023% / 1h	56m 19s	$184K	$283K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BackpackbpOrdersPrice spread, now +0.143%Rate

Funding earned: −$40.3
Price spread: +0.143% → 0.000%: $14.34
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$45.97
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: gTrade (Gains Network): no order-book sample; Backpack: live order book, 32 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Backpack live order book, 32 min ago	0.50 bp	8.0 bp −$8	doesn't fit	doesn't fit	doesn't fit

gTrade (Gains Network): 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
Backpack XPL_USDC_PERPshort	−0.0186%	1h	0.09843	+0.143%	$184K	$283K	10x
Deribit XPL_USDC-PERPETUAL	−0.0157%	1h	0.09829	+0.001%	$49K	$17K	25x	as long as short
Lighter XPL	−0.0128%	1h	0.09825	−0.040%	$4.4M	$4.2M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0065% / S +0.0475%	1h	0.09828	−0.005%	$113K	—	100x	as long as short
01 Exchange XPLUSD	−0.0056%	1h	0.09825	−0.040%	$571	$582	5x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09836	+0.072%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.972%	—	—	—	as long as short
gTrade (Gains Network) XPL/USDlong	L +0.0005% / S −0.0004%	1h	0.09829	long leg	$72K	—	150x
Orderly PERP_XPL_USDC	+0.0080%	4h	0.09829	+0.001%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0099%	8h	0.09835	+0.062%	$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	0.09829	+0.001%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09842	+0.137%	$65.0M	$45.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09838	+0.092%	$255K	$514K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09846	+0.172%	$223K	$19K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09824	−0.053%	$44.8M	$102.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09824	−0.050%	$47.5M	$51.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09824	−0.050%	$9.2M	$52.9M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09901	+0.733%	$143K	$11K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09824	−0.050%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09827	−0.019%	$13.2M	$7.5M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09824	−0.050%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09836	+0.072%	$8.7M	$11.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09819	−0.101%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09899	+0.710%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09866	+0.379%	$268K	$782K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09890	+0.622%	$26K	$82K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09837	+0.084%	$133K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09810	−0.192%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09830	+0.011%	$209	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09833	+0.042%	$139K	$245K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09831	+0.023%	$701K	$1.0M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09837	+0.082%	$38K	$5K	3x	as long as short
Phoenix XPL	+0.0318%	1h	0.09887	+0.591%	$202K	$646K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09826	−0.030%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09965	+1.385%	$75K	$106K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3459%	1h	0.09887	+0.586%	$296K	$673K	10x	as long as short