XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0646%/8h= −70.8% APRnext payment −$0.81 per $10,000 · paid last 24h −0.139%

Price spread now: Deribit against Phoenix−0.298%7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$19 a day on $10k at the current rate, and Deribit is 0.298% cheaper against Phoenix than usual: you would sell low and buy high (−$30 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix XPL	0.09742	0.0485	pay 0.0061% / 1h	48m 44s	$199K	$646K	10x
Short	Deribit XPL_USDC-PERPETUAL	0.09713	−0.0162	pay 0.0020% / 1h	48m 44s	$47K	$18K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.298%Rate

Funding earned: −$135.74
Price spread: −0.298% → 0.000%: −$29.77
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$179.51
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Phoenix: live order book, 39 min ago; Deribit: 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 Phoenix live order book, 39 min ago	1.01 bp	14.6 bp −$15	55.7 bp −$557	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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
Lighter XPL	−0.0304%	1h	0.09728	−0.144%	$4.4M	$4.2M	10x	as long as short
Backpack XPL_USDC_PERP	−0.0264%	1h	0.09715	−0.277%	$179K	$283K	10x	as long as short
Deribit XPL_USDC-PERPETUALshort	−0.0162%	1h	0.09713	−0.298%	$47K	$18K	25x
GMX XPL/USD [WBTC.b-USDC]	L −0.0067% / S +0.0477%	1h	0.09713	−0.295%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09741	−0.010%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.287%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09714	−0.290%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0080%	4h	0.09708	−0.349%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0095%	8h	0.09711	−0.319%	$13K	$2K	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09717	−0.257%	$1.4M	$2.6M	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	0.09740	−0.017%	$62.7M	$47.0M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09722	−0.207%	$252K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09745	+0.033%	$221K	$19K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09743	+0.005%	$44.1M	$104.0M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09738	−0.041%	$47.0M	$52.5M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09742	0.000%	$9.0M	$52.8M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09715	−0.277%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09727	−0.154%	$12.7M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09706	−0.370%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09738	−0.041%	$8.6M	$11.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09731	−0.113%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09735	−0.076%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09737	−0.050%	$264K	$782K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09740	−0.021%	$25K	$86K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09717	−0.255%	$131K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09690	−0.534%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09710	−0.328%	$206	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09726	−0.164%	$138K	$245K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09730	−0.123%	$140K	$11K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09714	−0.291%	$653K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09715	−0.274%	$38K	$5K	3x	as long as short
01 Exchange XPLUSD	+0.0216%	1h	0.09706	−0.370%	$564	$582	5x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09708	−0.349%	$1.8M	$1.1M	75x	as long as short
Phoenix XPLlong	+0.0485%	1h	0.09742	long leg	$199K	$646K	10x
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09965	+2.289%	$75K	$106K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3483%	1h	0.09816	+0.763%	$518K	$932K	10x	as long as short