XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0099%/8h= −10.8% APRnext payment −$0.12 per $10,000 · paid last 24h −0.019%

Price spread now: Backpack against Pacifica−0.114%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$660.663% of the position

Long on Pacifica Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.061%+$6 on $10k

Price spread, last 4 days (all we have)+1.114%+$111 · spread now −0.114%, 7d avg −0.015%

Together, before fees+1.175%+ Points / potential airdropPacifica: Active · farm board+$118 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Backpack is 0.099% cheaper against Pacifica than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.015%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.061%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica XPL	0.09905	0.0100	pay 0.0013% / 1h	4m 22s	$224K	$19K	10x
Short	Backpack XPL_USDC_PERP	0.09894	0.0001	get 0.0000% / 1h	4m 22s	$185K	$285K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Pacifica. 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 PacificabpFee BackpackbpOrdersPrice spread, now −0.114%Rate

Funding earned: −$20.76
Price spread: −0.114% → −0.015%: −$9.91
Slippage, 4 orders: −$48.26
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$96.93
Costs to cover: 0.663%
Break-even: never at this rate

Slippage from Pacifica: live order book, 23 min ago; Backpack: live order book, 24 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 Pacifica live order book, 23 min ago	10.08 bp	20.0 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 24 min ago	0.50 bp	8.0 bp −$8	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
GMX XPL/USD [WBTC.b-USDC]	L −0.0061% / S +0.0473%	1h	0.09911	+0.060%	$114K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09902	−0.036%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−23.566%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09898	−0.074%	$49K	$17K	25x	as long as short
Backpack XPL_USDC_PERPshort	+0.0001%	1h	0.09894	−0.114%	$185K	$285K	10x
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09910	+0.047%	$73K	—	150x	as long as short
01 Exchange XPLUSD	+0.0016%	1h	0.09905	−0.003%	$576	$582	5x	as long as short
Orderly PERP_XPL_USDC	+0.0079%	4h	0.09912	+0.068%	$28K	$333K	10x	as long as short
Lighter XPL	+0.0096%	1h	0.09892	−0.134%	$4.5M	$4.3M	10x	as long as short
Paradex XPL-USD-PERP	+0.0099%	8h	0.09903	−0.022%	$13K	$2K	5x	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	0.09906	+0.002%	$1.4M	$2.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09907	+0.019%	$257K	$514K	20x	as long as short
Pacifica XPLlong	+0.0100%	1h	0.09905	long leg	$224K	$19K	10x
Binance XPLUSDT	+0.0100%	4h	0.09912	+0.065%	$45.2M	$102.6M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09904	−0.013%	$47.9M	$51.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09909	+0.037%	$9.4M	$53.3M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09863	−0.423%	$142K	$11K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09904	−0.013%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09908	+0.027%	$13.4M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09897	−0.084%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09915	+0.098%	$8.7M	$11.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09910	+0.047%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09892	−0.137%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09892	−0.132%	$267K	$765K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09900	−0.054%	$26K	$82K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09916	+0.110%	$134K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09870	−0.356%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09890	−0.154%	$206	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09902	−0.033%	$140K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09901	−0.043%	$704K	$1.0M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09919	+0.137%	$39K	$5K	3x	as long as short
Phoenix XPL	+0.0318%	1h	0.09914	+0.088%	$202K	$640K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09895	−0.104%	$1.8M	$1.2M	75x	as long as short
Hyperliquid XPL	+0.0431%	1h	0.09922	+0.165%	$65.5M	$45.1M	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.09965	+0.603%	$75K	$106K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3373%	1h	0.09936	+0.307%	$297K	$674K	10x	as long as short