XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.2768%/8h= −303.1% APRnext payment −$3.46 per $10,000 · paid last 24h −0.589%

Price spread now: Extended against Kraken Futures−0.273%7-day average −0.141% · you buy dearer than you sell

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs−$80as in the Price arb table

costs, in and out, $10k−$670.671% of the position

Long on Kraken Futures Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.384%−$38 on $10k

Price spread, last 4 days (all we have)+0.373%+$37 · spread now −0.273%, 7d avg −0.141%

Together, before fees−0.012%+ Points / potential airdropExtended: Active · farm board−$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$83 a day on $10k at the current rate, and Extended is 0.131% cheaper against Kraken Futures than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.141%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.384% in total (about -20.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.46 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	Kraken Futures PF_XPLUSD	0.09681	0.2872	pay 0.0359% / 1h	17m 50s	$550K	$958K	10x
Short	Extended XPL-USD	0.09654	0.0104	get 0.0013% / 1h	17m 50s	$606K	$1.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Kraken Futures. 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 Kraken FuturesbpFee ExtendedbpOrdersPrice spread, now −0.273%Rate

Funding earned: −$581.23
Price spread: −0.273% → −0.141%: −$13.13
Slippage, 4 orders: −$52.13
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$661.49
Costs to cover: 0.671%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 25 min ago; Extended: live order book, just now.

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 Kraken Futures live order book, 25 min ago	11.46 bp	22.4 bp −$22	241.4 bp −$2,414	doesn't fit	doesn't fit
Sell Extended live order book, just now	2.07 bp	8.2 bp −$8	22.0 bp −$220	doesn't fit	doesn't fit

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	0.09632	−0.504%	$560	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0268%	1h	0.09648	−0.338%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09649	−0.325%	$106K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09644	−0.381%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.796%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09650	−0.318%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0008%	4h	0.09644	−0.380%	$29K	$306K	10x	as long as short
Lighter XPL	+0.0024%	1h	0.09637	−0.452%	$4.4M	$3.0M	10x	as long as short
Paradex XPL-USD-PERP	+0.0065%	8h	0.09640	−0.426%	$13K	$696	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09635	−0.473%	$1.2M	$2.3M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid XPL	+0.0100%	1h	0.09657	−0.249%	$61.1M	$46.3M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09665	−0.160%	$254K	$426K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09644	−0.378%	$221K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09660	−0.214%	$43.7M	$99.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09659	−0.225%	$45.8M	$53.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09657	−0.245%	$8.2M	$48.6M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09581	−1.026%	$140K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09660	−0.214%	$3.1M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09655	−0.266%	$12.4M	$6.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09642	−0.400%	$2.3M	$1.3M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09667	−0.142%	$9.2M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09660	−0.214%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09649	−0.328%	$175K	$190K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09604	−0.795%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09580	−1.041%	$253K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09570	−1.144%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09651	−0.305%	$126K	$1.9M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09630	−0.524%	$2K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09640	−0.421%	$201	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09632	−0.504%	$137K	$191K	20x	as long as short
Extended XPL-USDshort	+0.0104%	1h	0.09654	−0.273%	$606K	$1.2M	25x
Aevo XPL-PERP	+0.0104%	1h	0.09629	−0.533%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09651	−0.307%	$195K	$536K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09632	−0.504%	$1.7M	$949K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0592%	1h	0.09677	−0.039%	$67K	$90K	50x	as long as short
Kraken Futures PF_XPLUSDlong	+0.2872%	1h	0.09681	long leg	$550K	$958K	10x