XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0699%/8h= −76.5% APRnext payment −$0.87 per $10,000 · paid last 24h −0.189%

Price spread now: GMX against Hyperliquid−0.397%7-day average −0.115% · you buy dearer than you sell

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

Long on Hyperliquid Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.287%−$29 on $10k

Price spread, last 4 days (all we have)+0.304%+$30 · spread now −0.397%, 7d avg −0.115%

Together, before fees+0.017%+ Points / potential airdropHyperliquid: Season 2 · farm board+$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$21 a day on $10k at the current rate, and GMX is 0.282% cheaper against Hyperliquid than usual: you would sell low and buy high (−$28 if the spread goes back to its 7-day average of −0.115%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid XPL	0.09580	0.0100	pay 0.0013% / 1h	54m 30s	$60.1M	$47.1M	10x
Short	GMX XPL/USD [WBTC.b-USDC]	0.09541	L −0.0287% / S +0.0599%	pay 0.0075% / 1h	54m 30s	$105K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Hyperliquid. 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 HyperliquidbpFee GMXbpOrdersPrice spread, now −0.397%Rate

Funding earned: −$146.74
Price spread: −0.397% → −0.115%: −$28.21
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee GMX: 6 bp × 2 orders: −$12
Net: −$195.95
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 9 min ago; GMX: no order-book sample. 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 Hyperliquid live order book, 9 min ago	0.94 bp	10.1 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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	−0.0392%	1h	0.09552	−0.287%	$555	$708	5x	as long as short
Backpack XPL_USDC_PERP	−0.0322%	1h	0.09549	−0.318%	$177K	$227K	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]short	L −0.0287% / S +0.0599%	1h	0.09541	−0.397%	$105K	—	100x
Deribit XPL_USDC-PERPETUAL	−0.0274%	1h	0.09540	−0.412%	$46K	$18K	25x	as long as short
Bybit XPLUSDT	−0.0130%	4h	0.09553	−0.277%	$45.3M	$56.1M	75x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09570	−0.102%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−20.973%	—	—	—	as long as short
Orderly PERP_XPL_USDC	+0.0002%	4h	0.09538	−0.433%	$29K	$335K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09542	−0.386%	$72K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0068%	8h	0.09560	−0.208%	$12K	$2K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX XPL-USDT-SWAP	+0.0084%	4h	0.09560	−0.204%	$8.2M	$50.2M	50x	as long as short
Lighter XPL	+0.0096%	1h	0.09561	−0.193%	$4.3M	$3.3M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09559	−0.214%	$1.2M	$2.7M	10x	as long as short
Hyperliquid XPLlong	+0.0100%	1h	0.09580	long leg	$60.1M	$47.1M	10x
Aster XPLUSDT	+0.0100%	4h	0.09572	−0.083%	$243K	$488K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09570	−0.098%	$218K	$48K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09559	−0.218%	$43.3M	$106.0M	75x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09562	−0.183%	$3.0M	$3.5M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09563	−0.172%	$12.4M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09564	−0.162%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09564	−0.162%	$8.5M	$10.5M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09558	−0.224%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09536	−0.455%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09565	−0.150%	$262K	$941K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09570	−0.099%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09541	−0.404%	$127K	$2.1M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09520	−0.621%	$3K	$1.8M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09540	−0.412%	$2K	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09553	−0.277%	$143K	$240K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09565	−0.151%	$139K	$5K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09557	−0.232%	$647K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09537	−0.444%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09576	−0.037%	$194K	$617K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09530	−0.517%	$1.7M	$993K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0616%	1h	0.09606	+0.277%	$74K	$86K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3333%	1h	0.09572	−0.076%	$542K	$978K	10x	as long as short