XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0241%/8h= +26.4% APRnext payment +$0.30 per $10,000 · paid last 24h +0.133%

Price spread now: Coinbase International against Phoenix+1.070%72s7-day average +0.566% · you sell dearer than you buy

Net, funding: paid 7d − costs−$119as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$760.756% of the position

Long on Phoenix Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.437%−$44 on $10k

Price spread, last 3 days (all we have)−0.575%−$58 · spread now +1.070%, 7d avg +0.566%

Together, before fees−1.012%−$101 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Coinbase International is 0.504% dearer against Phoenix than usual: you sell high and buy low: +$50 more if the spread goes back to its 7-day average of +0.566%. Mind the row above: over the last 7 days funding on this pair cost −0.437%, so the current rate has only just turned in your favour. The two prices were read 72 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix XPL	0.09721	0.0327	pay 0.0041% / 1h	30m 05s	$197K	$651K	10x
Short	Coinbase International XPL-PERP-INTX	0.09825	0.0568	get 0.0071% / 1h	30m 05s	$72K	$97K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Phoenix. 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 PhoenixbpFee Coinbase InternationalbpOrdersPrice spread, now +1.070%Rate

Funding earned: $50.65
Price spread: +1.070% → +0.566%: $50.42
Slippage, 4 orders: −$58.64
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $25.43
Costs to cover: 0.756%
Break-even: 3.5 days

Slippage from Phoenix: live order book, 48 min ago; Coinbase International: live order book, 48 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 Phoenix live order book, 48 min ago	1.03 bp	14.8 bp −$15	56.0 bp −$560	doesn't fit	doesn't fit
Sell Coinbase International live order book, 48 min ago	17.51 bp	23.4 bp −$23	166.8 bp −$1,668	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 XPL	−0.0616%	1h	0.09705	−0.165%	$4.4M	$4.2M	10x	as long as short
01 Exchange XPLUSD	−0.0416%	1h	0.09694	−0.278%	$564	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0135% / S +0.0522%	1h	0.09716	−0.051%	$112K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0059%	1h	0.09714	−0.072%	$47K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09710	−0.108%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.123%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09714	−0.069%	$76K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0019%	8h	0.09695	−0.266%	$13K	$2K	5x	as long as short
Orderly PERP_XPL_USDC	+0.0051%	4h	0.09708	−0.134%	$29K	$335K	10x	as long as short
Gate XPL_USDT	+0.0072%	4h	0.09706	−0.154%	$3.0M	$4.0M	75x	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	0.09702	−0.195%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09723	+0.024%	$62.7M	$48.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09716	−0.053%	$252K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09704	−0.178%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09711	−0.105%	$44.2M	$108.2M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09714	−0.072%	$47.3M	$55.3M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09711	−0.103%	$8.7M	$54.3M	50x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09709	−0.123%	$12.7M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09710	−0.113%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09717	−0.041%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09710	−0.113%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09713	−0.082%	$179K	$281K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09696	−0.253%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09710	−0.113%	$260K	$806K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09710	−0.113%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09716	−0.056%	$130K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09690	−0.319%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09710	−0.113%	$197	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09699	−0.226%	$138K	$233K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09700	−0.218%	$141K	$9K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09708	−0.131%	$653K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09715	−0.062%	$38K	$5K	3x	as long as short
Phoenix XPLlong	+0.0327%	1h	0.09721	long leg	$197K	$651K	10x
BloFin XPL-USDT	+0.0340%	4h	0.09700	−0.216%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTXshort	+0.0568%	1h	0.09825	+1.070%	$72K	$97K	50x
Kraken Futures PF_XPLUSD	+0.5110%	1h	0.09769	+0.491%	$563K	$1.0M	10x	as long as short