XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0270%/8h= +29.6% APRnext payment +$0.34 per $10,000 · paid last 24h +0.024%

Price spread now: Bulk against GMX−0.188%7-day average +0.008% · you buy dearer than you sell

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

Long on GMX Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.069%−$7 on $10k

Price spread, last 3 days (all we have)−0.087%−$9 · spread now −0.188%, 7d avg +0.008%

Together, before fees−0.156%−$16 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bulk is 0.196% cheaper against GMX than usual: you would sell low and buy high (spread −0.188% now, against its 7-day average of +0.008%). If the spread goes back, that is −$20 on $10k: about 2.4 days of funding at the current rate (+$8 a day). Mind the row above: over the last 3 days funding on this pair cost −0.069%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.069% in total (about -7.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.34 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	GMX XPL/USD [WBTC.b-USDC]	0.09889	L −0.0170% / S +0.0545%	get 0.0021% / 1h	18m 17s	$114K	—	100x
Short	Bulk XPL-USD	0.09870	0.0100	get 0.0013% / 1h	18m 17s	$144K	$2K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk 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 BulkbpOrdersPrice spread, now −0.188%Rate

Funding earned: $56.71
Price spread: −0.188% → +0.008%: −$19.64
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $18.06
Costs to cover: 0.190%
Break-even: 4.8 days

Slippage unknown: GMX: no order-book sample; Bulk: live order book, 56 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 Bulk live order book, 56 min ago	5.15 bp	10.3 bp −$10	20.5 bp −$205	49.1 bp −$4,909	231.3 bp −$115.7K

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
01 Exchange XPLUSD	−0.0176%	1h	0.09867	−0.218%	$574	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]long	L −0.0170% / S +0.0545%	1h	0.09889	long leg	$114K	—	100x
Deribit XPL_USDC-PERPETUAL	−0.0154%	1h	0.09895	+0.065%	$47K	$18K	25x	as long as short
Lighter XPL	0.0000%	1h	0.09842	−0.471%	$4.5M	$4.2M	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09848	−0.410%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−23.443%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09889	+0.005%	$77K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0022%	4h	0.09890	+0.014%	$30K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0046%	8h	0.09844	−0.446%	$13K	$2K	5x	as long as short
Backpack XPL_USDC_PERP	+0.0095%	1h	0.09862	−0.269%	$185K	$271K	10x	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	0.09874	−0.150%	$1.5M	$2.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09870	−0.188%	$255K	$534K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09850	−0.390%	$224K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09892	+0.034%	$45.3M	$108.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09894	+0.055%	$48.1M	$56.2M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09891	+0.024%	$8.8M	$56.1M	50x	as long as short
Bulk XPL-USDshort	+0.0100%	1h	0.09870	−0.188%	$144K	$2K	10x
Gate XPL_USDT	+0.0100%	4h	0.09889	+0.004%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09872	−0.168%	$13.0M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09879	−0.097%	$2.5M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09903	+0.146%	$8.8M	$11.2M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09887	−0.016%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09915	+0.266%	$1.8M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09920	+0.318%	$266K	$835K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09920	+0.318%	$26K	$89K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09885	−0.032%	$132K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09840	−0.491%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09900	+0.115%	$197	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09882	−0.067%	$143K	$243K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09891	+0.029%	$669K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09920	+0.318%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09941	+0.530%	$201K	$655K	10x	as long as short
Hyperliquid XPL	+0.0208%	1h	0.09892	+0.035%	$64.2M	$47.1M	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09892	+0.034%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09980	+0.924%	$74K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5003%	1h	0.09945	+0.567%	$575K	$1.0M	10x	as long as short