XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.2994%/8h= −327.8% APRnext payment −$3.74 per $10,000 · paid last 24h −0.548%

Price spread now: Nado against Kraken Futures−0.503%7-day average −0.109% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$127as in the Price arb table

costs, in and out, $10k−$880.877% of the position

Long on Kraken Futures Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.420%−$42 on $10k

Price spread, last 4 days (all we have)+0.718%+$72 · spread now −0.503%, 7d avg −0.109%

Together, before fees+0.298%+ Points / potential airdropNado: Active · farm board+$30 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$90 a day on $10k at the current rate, and Nado is 0.394% cheaper against Kraken Futures than usual: you would sell low and buy high (−$39 if the spread goes back to its 7-day average of −0.109%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.420% in total (about -45.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.74 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	0.09736	0.3094	pay 0.0387% / 1h	52m 59s	$552K	$974K	10x
Short	Nado XPL-PERP	0.09687	0.0100	get 0.0012% / 1h	52m 59s	$1.2M	$2.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.503%Rate

Funding earned: −$628.64
Price spread: −0.503% → −0.109%: −$39.41
Slippage, 4 orders: −$70.73
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$755.79
Costs to cover: 0.877%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 60 min ago; Nado: live order book, 6 min ago.

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, 60 min ago	29.70 bp	36.0 bp −$36	379.0 bp −$3,790	doesn't fit	doesn't fit
Sell Nado live order book, 6 min ago	1.03 bp	7.9 bp −$8	19.6 bp −$196	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	−0.0464%	1h	0.09676	−0.616%	$563	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0304% / S +0.0610%	1h	0.09695	−0.419%	$107K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0156%	1h	0.09706	−0.308%	$179K	$199K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09683	−0.542%	$9K	$585	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.238%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09701	−0.360%	$46K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09695	−0.416%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0017%	4h	0.09694	−0.432%	$29K	$339K	10x	as long as short
Paradex XPL-USD-PERP	+0.0056%	8h	0.09681	−0.567%	$13K	$2K	5x	as long as short
Lighter XPL	+0.0096%	1h	0.09695	−0.421%	$4.4M	$3.0M	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-PERPshort	+0.0100%	1h	0.09687	−0.503%	$1.2M	$2.6M	10x
Hyperliquid XPL	+0.0100%	1h	0.09714	−0.228%	$61.3M	$46.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09704	−0.329%	$253K	$469K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09687	−0.509%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09696	−0.406%	$44.0M	$102.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09693	−0.442%	$45.9M	$54.6M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09694	−0.432%	$8.3M	$49.6M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09670	−0.678%	$141K	$5K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09696	−0.411%	$3.0M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09698	−0.390%	$12.6M	$7.0M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09689	−0.483%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09707	−0.298%	$8.8M	$10.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09696	−0.411%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09661	−0.772%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09665	−0.730%	$260K	$1.0M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09690	−0.473%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09700	−0.366%	$127K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09670	−0.678%	$3K	$1.8M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09700	−0.370%	$203	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09677	−0.606%	$142K	$206K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09691	−0.459%	$656K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09705	−0.324%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09681	−0.565%	$196K	$573K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09691	−0.462%	$1.8M	$989K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0640%	1h	0.09734	−0.021%	$75K	$85K	50x	as long as short
Kraken Futures PF_XPLUSDlong	+0.3094%	1h	0.09736	long leg	$552K	$974K	10x