XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0381%/8h= −41.7% APRnext payment −$0.48 per $10,000 · paid last 24h −0.069%

Price spread now: Extended against Phoenix−0.354%7-day average −0.201% · you buy dearer than you sell

Net, funding: paid 7d − costs−$94as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$470.473% of the position

Long on Phoenix Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.463%−$46 on $10k

Price spread, last 3 days (all we have)−0.343%−$34 · spread now −0.354%, 7d avg −0.201%

Together, before fees−0.806%+ Points / potential airdropExtended: Active · farm board−$81 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Extended is 0.152% cheaper against Phoenix than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.201%). 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	53m 00s	$199K	$646K	10x
Short	Extended XPL-USD	0.09708	0.0104	get 0.0013% / 1h	53m 00s	$653K	$1.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.354%Rate

Funding earned: −$79.96
Price spread: −0.354% → −0.201%: −$15.21
Slippage, 4 orders: −$35.35
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$142.52
Costs to cover: 0.473%
Break-even: never at this rate

Slippage from Phoenix: live order book, 35 min ago; Extended: live order book, 5 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, 35 min ago	1.01 bp	14.6 bp −$15	55.7 bp −$557	doesn't fit	doesn't fit
Sell Extended live order book, 5 min ago	0.51 bp	4.1 bp −$4	17.0 bp −$170	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
Deribit XPL_USDC-PERPETUAL	−0.0676%	1h	0.09711	−0.318%	$47K	$18K	25x	as long as short
Lighter XPL	−0.0368%	1h	0.09696	−0.472%	$4.4M	$4.2M	10x	as long as short
Backpack XPL_USDC_PERP	−0.0318%	1h	0.09700	−0.431%	$179K	$282K	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0066% / S +0.0476%	1h	0.09718	−0.249%	$111K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09735	−0.067%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.286%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09719	−0.234%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0079%	4h	0.09708	−0.349%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0096%	8h	0.09724	−0.186%	$13K	$2K	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09726	−0.162%	$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	0.09701	−0.419%	$63.0M	$46.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09705	−0.375%	$251K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09731	−0.117%	$220K	$19K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09710	−0.328%	$44.2M	$103.6M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09716	−0.267%	$47.0M	$52.4M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09711	−0.318%	$9.0M	$52.6M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09901	+1.632%	$143K	$11K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09699	−0.441%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09707	−0.359%	$12.8M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09702	−0.411%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09715	−0.277%	$8.6M	$11.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09718	−0.246%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09837	+0.980%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09760	+0.183%	$265K	$782K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09840	+1.006%	$25K	$82K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09722	−0.209%	$131K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09700	−0.431%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09700	−0.431%	$206	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09702	−0.411%	$138K	$245K	20x	as long as short
Extended XPL-USDshort	+0.0104%	1h	0.09708	−0.354%	$653K	$1.1M	25x
Aevo XPL-PERP	+0.0104%	1h	0.09715	−0.278%	$38K	$5K	3x	as long as short
01 Exchange XPLUSD	+0.0288%	1h	0.09787	+0.462%	$569	$582	5x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09717	−0.257%	$1.8M	$1.2M	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	0.09817	+0.771%	$397K	$806K	10x	as long as short