XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0858%/8h= −93.9% APRnext payment −$1.07 per $10,000 · paid last 24h −0.225%

Price spread now: GMX against Phoenix−0.456%65s7-day average −0.129% · you buy dearer than you sell

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

Long on Phoenix Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.469%−$47 on $10k

Price spread, last 4 days (all we have)+0.381%+$38 · spread now −0.456%, 7d avg −0.129%

Together, before fees−0.088%−$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$26 a day on $10k at the current rate, and GMX is 0.326% cheaper against Phoenix than usual: you would sell low and buy high (−$33 if the spread goes back to its 7-day average of −0.129%). Swap the legs. The two prices were read 65 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	0.09681	0.0248	pay 0.0031% / 1h	12m 26s	$196K	$573K	10x
Short	GMX XPL/USD [WBTC.b-USDC]	0.09637	L −0.0304% / S +0.0610%	pay 0.0076% / 1h	12m 26s	$106K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.456%Rate

Funding earned: −$180.15
Price spread: −0.456% → −0.129%: −$32.64
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee GMX: 6 bp × 2 orders: −$12
Net: −$231.78
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Phoenix: live order book, 40 min ago; GMX: 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, 40 min ago	1.03 bp	14.8 bp −$15	56.0 bp −$560	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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
Deribit XPL_USDC-PERPETUAL	−0.0371%	1h	0.09656	−0.258%	$46K	$18K	25x	as long as short
01 Exchange XPLUSD	−0.0360%	1h	0.09631	−0.516%	$560	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]short	L −0.0304% / S +0.0610%	1h	0.09637	−0.456%	$106K	—	100x
Backpack XPL_USDC_PERP	−0.0054%	1h	0.09661	−0.207%	$176K	$189K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09658	−0.240%	$9K	$585	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.796%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09639	−0.430%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0010%	4h	0.09628	−0.547%	$29K	$339K	10x	as long as short
Bybit XPLUSDT	+0.0017%	4h	0.09631	−0.516%	$45.6M	$54.1M	75x	as long as short
Lighter XPL	+0.0048%	1h	0.09639	−0.434%	$4.4M	$3.0M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPL-USD-PERP	+0.0051%	8h	0.09642	−0.402%	$13K	$696	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09642	−0.403%	$1.2M	$2.4M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09651	−0.309%	$61.2M	$46.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09642	−0.403%	$251K	$422K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09650	−0.320%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09628	−0.543%	$43.7M	$100.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09631	−0.516%	$8.2M	$48.5M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09650	−0.320%	$141K	$5K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09644	−0.382%	$3.1M	$3.5M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09642	−0.403%	$12.7M	$7.1M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09648	−0.341%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09647	−0.351%	$9.1M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09631	−0.516%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09655	−0.271%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09657	−0.250%	$260K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09680	−0.010%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09646	−0.366%	$128K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09640	−0.424%	$3K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09650	−0.320%	$205	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09643	−0.393%	$141K	$185K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09637	−0.452%	$653K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09648	−0.343%	$29K	$18K	3x	as long as short
Phoenix XPLlong	+0.0248%	1h	0.09681	long leg	$196K	$573K	10x
BloFin XPL-USDT	+0.0340%	4h	0.09658	−0.238%	$1.8M	$961K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0640%	1h	0.09708	+0.279%	$75K	$76K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3109%	1h	0.09688	+0.073%	$551K	$990K	10x	as long as short