XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.3109%/8h= +340.4% APRnext payment +$3.89 per $10,000 · paid last 24h +0.642%

Price spread now: Kraken Futures against GMX+0.318%54s7-day average +0.089% · you sell dearer than you buy

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

Long on GMX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.459%+$46 on $10k

Price spread, last 4 days (all we have)−0.528%−$53 · spread now +0.318%, 7d avg +0.089%

Together, before fees−0.070%−$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$93 a day on $10k at the current rate, and Kraken Futures is 0.229% dearer against GMX than usual: you sell high and buy low: +$23 more if the spread goes back to its 7-day average of +0.089%. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.459% in total (about 49.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.89 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]	0.09641	L −0.0234% / S +0.0570%	get 0.0029% / 1h	15m 21s	$106K	—	100x
Short	Kraken Futures PF_XPLUSD	0.09671	0.2875	get 0.0359% / 1h	15m 21s	$549K	$958K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.318%Rate

Funding earned: $652.89
Price spread: +0.318% → +0.089%: $22.92
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $653.82
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; Kraken Futures: live order book, 28 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 Kraken Futures live order book, 28 min ago	11.46 bp	29.6 bp −$30	508.4 bp −$5,084	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
01 Exchange XPLUSD	−0.0272%	1h	0.09640	−0.008%	$560	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]long	L −0.0234% / S +0.0570%	1h	0.09641	long leg	$106K	—	100x
Deribit XPL_USDC-PERPETUAL	−0.0165%	1h	0.09640	−0.008%	$46K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09645	+0.044%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.471%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09644	+0.034%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0007%	4h	0.09635	−0.060%	$29K	$306K	10x	as long as short
Lighter XPL	+0.0024%	1h	0.09635	−0.060%	$4.4M	$3.0M	10x	as long as short
Paradex XPL-USD-PERP	+0.0064%	8h	0.09643	+0.019%	$13K	$696	5x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09653	+0.131%	$61.0M	$46.4M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster XPLUSDT	+0.0100%	4h	0.09647	+0.067%	$254K	$426K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09650	+0.096%	$221K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09638	−0.029%	$43.6M	$99.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09634	−0.071%	$45.6M	$53.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09636	−0.050%	$8.1M	$48.5M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09581	−0.616%	$140K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09640	−0.008%	$3.1M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09644	+0.033%	$12.5M	$6.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09631	−0.102%	$2.3M	$1.3M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09647	+0.064%	$9.2M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09637	−0.039%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09645	+0.044%	$175K	$189K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09638	−0.030%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09637	−0.039%	$258K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09650	+0.095%	$25K	$77K	50x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09643	+0.023%	$1.2M	$2.3M	10x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09650	+0.099%	$126K	$1.9M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09630	−0.112%	$3K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09640	−0.008%	$207	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09639	−0.019%	$137K	$191K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09641	+0.001%	$606K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09630	−0.112%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09657	+0.168%	$196K	$536K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09654	+0.137%	$1.7M	$946K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0592%	1h	0.09704	+0.656%	$67K	$90K	50x	as long as short
Kraken Futures PF_XPLUSDshort	+0.2875%	1h	0.09671	+0.318%	$549K	$958K	10x