XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.1236%/8h= −135.3% APRnext payment −$1.54 per $10,000 · paid last 24h −0.142%

Price spread now: Lighter against Nado−0.047%7-day average −0.086% · 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−$30as in the Price arb table

costs, in and out, $10k−$340.335% of the position

Long on Nado Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.259%−$26 on $10k

Price spread, last 7 days−0.163%−$16 · spread now −0.047%, 7d avg −0.086%

Together, before fees−0.422%+ Points / potential airdropNado: Active · Lighter: Season 3 · farm board−$42 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.039% dearer against Nado than usual: you sell high and buy low (spread −0.047% now, against its 7-day average of −0.086%): +$4 on $10k if it goes back. Holding the pair costs −$37 a day in funding at the current rate, which eats that in about 3 hours. At the pace of the last 4 days (−0.259% in total) that is about 13 hours.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.259% in total (about -26.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.54 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	Nado XPL-PERP	0.09569	0.0100	pay 0.0012% / 1h	19m 28s	$1.2M	$2.2M	10x
Short	Lighter XPL	0.09564	−0.1136	pay 0.0142% / 1h	19m 28s	$4.3M	$3.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Nado. 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 NadobpFee LighterbpOrdersPrice spread, now −0.047%Rate

Funding earned: −$259.56
Price spread: −0.047% → −0.086%: $3.95
Slippage, 4 orders: −$26.5
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$289.11
Costs to cover: 0.335%
Break-even: never at this rate

Slippage from Nado: live order book, 4 min ago; Lighter: live order book, 8 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 Nado live order book, 4 min ago	1.05 bp	7.3 bp −$7	20.1 bp −$201	doesn't fit	doesn't fit
Sell Lighter live order book, 8 min ago	4.74 bp	12.7 bp −$13	33.0 bp −$330	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
Lighter XPLshort	−0.1136%	1h	0.09564	−0.047%	$4.3M	$3.2M	10x
Bybit XPLUSDT	−0.0452%	4h	0.09564	−0.047%	$45.4M	$54.2M	75x	as long as short
01 Exchange XPLUSD	−0.0424%	1h	0.09558	−0.110%	$556	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0311% / S +0.0615%	1h	0.09582	+0.146%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0272%	1h	0.09580	+0.120%	$46K	$17K	25x	as long as short
Paradex XPL-USD-PERP	−0.0117%	8h	0.09568	−0.008%	$12K	$696	5x	as long as short
OKX XPL-USDT-SWAP	−0.0055%	4h	0.09564	−0.047%	$7.6M	$47.5M	50x	as long as short
Orderly PERP_XPL_USDC	−0.0034%	4h	0.09570	+0.016%	$30K	$235K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09577	+0.087%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.878%	—	—	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09583	+0.152%	$72K	—	150x	as long as short
Gate XPL_USDT	+0.0016%	4h	0.09574	+0.057%	$2.9M	$3.3M	75x	as long as short
Backpack XPL_USDC_PERP	+0.0042%	1h	0.09575	+0.068%	$179K	$180K	10x	as long as short
Extended XPL-USD	+0.0048%	1h	0.09567	−0.014%	$619K	$1.2M	25x	as long as short
MEXC XPL_USDT	+0.0092%	4h	0.09566	−0.026%	$13.1M	$6.6M	100x	as long as short
Binance XPLUSDT	+0.0095%	4h	0.09565	−0.037%	$43.7M	$98.1M	75x	as long as short
Nado XPL-PERPlong	+0.0100%	1h	0.09569	long leg	$1.2M	$2.2M	10x
Hyperliquid XPL	+0.0100%	1h	0.09584	+0.158%	$60.6M	$45.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09574	+0.059%	$253K	$400K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09578	+0.102%	$219K	$47K	10x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09479	−0.933%	$138K	$0	10x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09574	+0.057%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09577	+0.089%	$9.0M	$9.9M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09564	−0.047%	—	$7.7M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09577	+0.090%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09573	+0.049%	$256K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09600	+0.329%	$25K	$73K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09577	+0.089%	$125K	$1.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09560	−0.089%	$3K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09570	+0.016%	$195	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09580	+0.120%	$133K	$214K	20x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09577	+0.085%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09583	+0.152%	$194K	$494K	10x	as long as short
BloFin XPL-USDT	+0.0334%	4h	0.09576	+0.078%	$1.7M	$952K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0536%	1h	0.09596	+0.287%	$64K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2700%	1h	0.09605	+0.381%	$546K	$959K	10x	as long as short