XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.4967%/8h= −543.8% APRnext payment −$6.21 per $10,000 · paid last 24h −0.288%

Price spread now: Pacifica against Kraken Futures−0.480%7-day average −0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$109as in the Funding arb table

Net, price: spread back to 7d avg − costs−$154as in the Price arb table

costs, in and out, $10k−$1101.098% of the position

Long on Kraken Futures Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.005%+$1 on $10k

Price spread, last 3 days (all we have)+0.668%+$67 · spread now −0.480%, 7d avg −0.035%

Together, before fees+0.673%+ Points / potential airdropPacifica: Active · farm board+$67 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$149 a day on $10k at the current rate, and Pacifica is 0.445% cheaper against Kraken Futures than usual: you would sell low and buy high (−$44 if the spread goes back to its 7-day average of −0.035%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.005% in total (about 0.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$6.21 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	0.09853	0.5067	pay 0.0633% / 1h	55m 07s	$567K	$1.0M	10x
Short	Pacifica XPL	0.09806	0.0100	get 0.0013% / 1h	55m 07s	$223K	$46K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.480%Rate

Funding earned: −$1,042.98
Price spread: −0.480% → −0.035%: −$44.48
Slippage, 4 orders: −$91.83
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$1,197.29
Costs to cover: 1.098%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 23 min ago; Pacifica: live order book, 23 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, 23 min ago	16.91 bp	39.0 bp −$39	974.9 bp −$9,749	doesn't fit	doesn't fit
Sell Pacifica live order book, 23 min ago	10.29 bp	25.4 bp −$25	doesn't fit	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	−0.0320%	1h	0.09813	−0.409%	$571	$708	5x	as long as short
Lighter XPL	−0.0272%	1h	0.09796	−0.582%	$4.4M	$4.1M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0158%	1h	0.09809	−0.450%	$47K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0123% / S +0.0514%	1h	0.09812	−0.420%	$113K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09799	−0.549%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−23.169%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09812	−0.416%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0064%	4h	0.09806	−0.481%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0083%	8h	0.09806	−0.479%	$13K	$2K	5x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09827	−0.270%	$63.7M	$47.8M	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	0.09811	−0.427%	$254K	$527K	20x	as long as short
Pacifica XPLshort	+0.0100%	1h	0.09806	−0.480%	$223K	$46K	10x
Binance XPLUSDT	+0.0100%	4h	0.09815	−0.389%	$44.5M	$107.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09815	−0.389%	$48.2M	$54.9M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09806	−0.481%	$8.9M	$54.5M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09805	−0.491%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09804	−0.501%	$12.7M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09801	−0.531%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09816	−0.379%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09810	−0.440%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09814	−0.399%	$178K	$279K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09788	−0.661%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09777	−0.774%	$260K	$787K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09800	−0.541%	$25K	$88K	50x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09810	−0.435%	$1.4M	$2.6M	10x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09821	−0.326%	$131K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09790	−0.643%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09800	−0.541%	$451	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09788	−0.663%	$139K	$246K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09790	−0.643%	$143K	$9K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09804	−0.499%	$660K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09813	−0.410%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09801	−0.531%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09802	−0.521%	$198K	$651K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0568%	1h	0.09825	−0.288%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSDlong	+0.5067%	1h	0.09853	long leg	$567K	$1.0M	10x