XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.4980%/8h= +545.3% APRnext payment +$6.23 per $10,000 · paid last 24h +0.541%

Price spread now: Kraken Futures against Lighter+0.460%7-day average +0.141% · you sell dearer than you buy

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$890.886% of the position

Long on Lighter Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.644%+$64 on $10k

Price spread, last 3 days (all we have)−0.487%−$49 · spread now +0.460%, 7d avg +0.141%

Together, before fees+0.157%+ Points / potential airdropLighter: Season 3 · farm board+$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$149 a day on $10k at the current rate, and Kraken Futures is 0.319% dearer against Lighter than usual: you sell high and buy low: +$32 more if the spread goes back to its 7-day average of +0.141%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.644% in total (about 33.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$6.23 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	0.09912	0.0016	pay 0.0002% / 1h	9m 48s	$4.5M	$4.2M	10x
Short	Kraken Futures PF_XPLUSD	0.09958	0.4996	get 0.0625% / 1h	9m 48s	$576K	$1.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.460%Rate

Funding earned: $1,045.82
Price spread: +0.460% → +0.141%: $31.89
Slippage, 4 orders: −$78.59
Fee Lighter: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $989.12
Costs to cover: 0.886%
Break-even: 0.4 days

Slippage from Lighter: live order book, 3 min ago; Kraken Futures: live order book, 4 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 Lighter live order book, 3 min ago	4.04 bp	12.5 bp −$13	33.6 bp −$336	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 4 min ago	20.58 bp	36.9 bp −$37	403.8 bp −$4,038	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	−0.0200%	1h	0.09929	+0.172%	$577	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0174% / S +0.0547%	1h	0.09927	+0.151%	$114K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0153%	1h	0.09913	+0.010%	$48K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09922	+0.100%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−23.622%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09928	+0.160%	$77K	—	150x	as long as short
Lighter XPLlong	+0.0016%	1h	0.09912	long leg	$4.5M	$4.2M	10x
Orderly PERP_XPL_USDC	+0.0019%	4h	0.09912	0.000%	$30K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0046%	8h	0.09933	+0.215%	$13K	$2K	5x	as long as short
OKX XPL-USDT-SWAP	+0.0083%	4h	0.09921	+0.091%	$8.8M	$56.2M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XPL-PERP	+0.0100%	1h	0.09920	+0.081%	$1.5M	$2.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09924	+0.116%	$257K	$539K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09932	+0.203%	$226K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09921	+0.094%	$45.4M	$108.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09921	+0.091%	$48.3M	$56.0M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09870	−0.424%	$144K	$2K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09918	+0.061%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09916	+0.040%	$13.2M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09917	+0.050%	$2.5M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09925	+0.131%	$8.9M	$11.2M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09919	+0.071%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09911	−0.010%	$185K	$254K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09896	−0.163%	$1.8M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09903	−0.090%	$263K	$844K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09940	+0.282%	$26K	$89K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09932	+0.199%	$133K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09910	−0.020%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09900	−0.121%	$498	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09913	+0.010%	$143K	$243K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09918	+0.064%	$673K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09910	−0.016%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09925	+0.131%	$201K	$655K	10x	as long as short
Hyperliquid XPL	+0.0188%	1h	0.09937	+0.255%	$64.5M	$47.0M	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09898	−0.141%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09980	+0.686%	$74K	$97K	50x	as long as short
Kraken Futures PF_XPLUSDshort	+0.4996%	1h	0.09958	+0.460%	$576K	$1.0M	10x