XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0594%/8h= −65.0% APRnext payment −$0.74 per $10,000 · paid last 24h −0.039%

Price spread now: GMX against Lighter+0.031%7-day average +0.071% · you sell dearer than you buy

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

Long on Lighter Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.004%$0 on $10k

Price spread, last 4 days (all we have)+0.121%+$12 · spread now +0.031%, 7d avg +0.071%

Together, before fees+0.116%+ Points / potential airdropLighter: Season 3 · farm board+$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and GMX is 0.040% cheaper against Lighter than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.071%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.004% in total (about -0.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.74 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	Lighter XPL	0.09640	0.0024	pay 0.0003% / 1h	19m 43s	$4.4M	$3.0M	10x
Short	GMX XPL/USD [WBTC.b-USDC]	0.09643	L −0.0234% / S +0.0570%	pay 0.0071% / 1h	19m 43s	$106K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Lighter. 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 LighterbpFee GMXbpOrdersPrice spread, now +0.031%Rate

Funding earned: −$124.66
Price spread: +0.031% → +0.071%: −$4.01
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee GMX: 6 bp × 2 orders: −$12
Net: −$140.67
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 3 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 Lighter live order book, 3 min ago	3.65 bp	18.2 bp −$18	40.2 bp −$402	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	−0.0272%	1h	0.09629	−0.114%	$560	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]short	L −0.0234% / S +0.0570%	1h	0.09643	+0.031%	$106K	—	100x
dYdX XPL-USD	0.0000%	1h	0.09652	+0.121%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.464%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09642	+0.021%	$46K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09643	+0.031%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0008%	4h	0.09636	−0.041%	$29K	$306K	10x	as long as short
Lighter XPLlong	+0.0024%	1h	0.09640	long leg	$4.4M	$3.0M	10x
Paradex XPL-USD-PERP	+0.0064%	8h	0.09648	+0.080%	$13K	$696	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09641	+0.005%	$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	0.09659	+0.192%	$61.1M	$46.3M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09656	+0.167%	$254K	$428K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09656	+0.168%	$221K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09650	+0.101%	$43.7M	$99.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09646	+0.062%	$45.7M	$53.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09649	+0.093%	$8.2M	$48.6M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09581	−0.608%	$140K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09647	+0.073%	$3.1M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09648	+0.083%	$12.4M	$6.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09635	−0.052%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09657	+0.176%	$9.2M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09649	+0.093%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09651	+0.114%	$175K	$190K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09604	−0.375%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09580	−0.622%	$253K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09570	−0.726%	$25K	$77K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09647	+0.073%	$126K	$1.9M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09620	−0.207%	$3K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09640	0.000%	$206	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09617	−0.239%	$137K	$191K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09646	+0.059%	$606K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09635	−0.054%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09582	−0.602%	$194K	$536K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09620	−0.207%	$1.7M	$949K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0592%	1h	0.09666	+0.270%	$67K	$90K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2873%	1h	0.09675	+0.364%	$550K	$975K	10x	as long as short