XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0038%/8h= +4.2% APRnext payment +$0.05 per $10,000 · paid last 24h −0.010%

Price spread now: Backpack against GMX−0.036%7-day average −0.012% · you buy dearer than you sell

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

Long on GMX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.106%−$11 on $10k

Price spread, last 3 days (all we have)−0.083%−$8 · spread now −0.036%, 7d avg −0.012%

Together, before fees−0.190%−$19 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.024% cheaper against GMX than usual: you would sell low and buy high (spread −0.036% now, against its 7-day average of −0.012%). If the spread goes back, that is −$2 on $10k: about 2.1 days of funding at the current rate (+$1 a day). Mind the row above: over the last 3 days funding on this pair cost −0.106%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX XPL/USD [WBTC.b-USDC]	0.09717	L −0.0085% / S +0.0489%	get 0.0011% / 1h	12m 58s	$112K	—	100x
Short	Backpack XPL_USDC_PERP	0.09713	−0.0046	pay 0.0006% / 1h	12m 58s	$177K	$283K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against GMX. 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 GMXbpFee BackpackbpOrdersPrice spread, now −0.036%Rate

Funding earned: $8.08
Price spread: −0.036% → −0.012%: −$2.37
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$16.29
Costs to cover: 0.220%
Break-even: 21.1 days

Slippage unknown: GMX: no order-book sample; Backpack: live order book, 10 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 GMX no order-book sample	—	—	—	—	—
Sell Backpack live order book, 10 min ago	1.02 bp	7.9 bp −$8	doesn't fit	doesn't fit	doesn't fit

GMX: 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
Deribit XPL_USDC-PERPETUAL	−0.0367%	1h	0.09712	−0.046%	$47K	$18K	25x	as long as short
Lighter XPL	−0.0088%	1h	0.09700	−0.170%	$4.4M	$4.3M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]long	L −0.0085% / S +0.0489%	1h	0.09717	long leg	$112K	—	100x
01 Exchange XPLUSD	−0.0048%	1h	0.09723	+0.067%	$565	$582	5x	as long as short
Backpack XPL_USDC_PERPshort	−0.0046%	1h	0.09713	−0.036%	$177K	$283K	10x
dYdX XPL-USD	0.0000%	1h	0.09739	+0.235%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.086%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09718	+0.010%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0083%	4h	0.09710	−0.067%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0092%	8h	0.09725	+0.089%	$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	0.09721	+0.046%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09721	+0.046%	$62.4M	$47.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09729	+0.125%	$252K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09732	+0.163%	$220K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09720	+0.036%	$43.8M	$105.3M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09719	+0.026%	$47.3M	$53.6M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09717	+0.005%	$9.0M	$53.2M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09815	+1.014%	$141K	$11K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09720	+0.036%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09723	+0.067%	$12.7M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09721	+0.046%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09726	+0.098%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09721	+0.046%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09749	+0.335%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09751	+0.351%	$264K	$775K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09750	+0.345%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09732	+0.160%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09710	−0.067%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09710	−0.067%	$202	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09691	−0.262%	$137K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09723	+0.064%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09713	−0.040%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09723	+0.067%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09771	+0.561%	$198K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09783	+0.684%	$74K	$103K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3503%	1h	0.09761	+0.462%	$514K	$944K	10x	as long as short