XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0312%/8h= −34.2% APRnext payment −$0.39 per $10,000 · paid last 24h −0.066%

Price spread now: Nado against Phoenix+0.087%7-day average −0.159% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$450.454% of the position

Long on Phoenix Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.236%−$24 on $10k

Price spread, last 3 days (all we have)−0.273%−$27 · spread now +0.087%, 7d avg −0.159%

Together, before fees−0.509%+ Points / potential airdropNado: Active · farm board−$51 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Nado is 0.245% dearer against Phoenix than usual: you sell high and buy low (spread +0.087% now, against its 7-day average of −0.159%): +$25 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 2.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix XPL	0.09802	0.0412	pay 0.0051% / 1h	54m 50s	$198K	$651K	10x
Short	Nado XPL-PERP	0.09810	0.0100	get 0.0013% / 1h	54m 50s	$1.4M	$2.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.087%Rate

Funding earned: −$65.51
Price spread: +0.087% → −0.159%: $24.53
Slippage, 4 orders: −$31.38
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$86.36
Costs to cover: 0.454%
Break-even: never at this rate

Slippage from Phoenix: live order book, 23 min ago; Nado: live order book, 4 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, 23 min ago	1.03 bp	14.8 bp −$15	56.0 bp −$560	doesn't fit	doesn't fit
Sell Nado live order book, 4 min ago	0.51 bp	5.9 bp −$6	16.4 bp −$164	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
01 Exchange XPLUSD	−0.0320%	1h	0.09813	+0.112%	$571	$708	5x	as long as short
Lighter XPL	−0.0272%	1h	0.09802	0.000%	$4.4M	$4.1M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0158%	1h	0.09809	+0.071%	$47K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0123% / S +0.0514%	1h	0.09812	+0.102%	$113K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09816	+0.145%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.767%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09812	+0.105%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0064%	4h	0.09806	+0.041%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0083%	8h	0.09806	+0.042%	$13K	$2K	5x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09831	+0.301%	$63.7M	$47.8M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster XPLUSDT	+0.0100%	4h	0.09821	+0.190%	$254K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09806	+0.042%	$223K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09805	+0.031%	$44.4M	$107.5M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09805	+0.031%	$48.2M	$54.9M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09806	+0.041%	$8.9M	$54.5M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09813	+0.112%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09818	+0.163%	$12.7M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09806	+0.041%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09823	+0.214%	$8.7M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09813	+0.112%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09814	+0.122%	$178K	$279K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09788	−0.141%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09777	−0.254%	$260K	$787K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09800	−0.020%	$25K	$88K	50x	as long as short
Nado XPL-PERPshort	+0.0100%	1h	0.09810	+0.087%	$1.4M	$2.6M	10x
Polymarket Perps XPL-USD	+0.0100%	1h	0.09821	+0.196%	$131K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09790	−0.122%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09800	−0.020%	$451	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09788	−0.143%	$139K	$246K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09790	−0.122%	$143K	$9K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09817	+0.154%	$660K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09813	+0.111%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09801	−0.010%	$1.8M	$1.2M	75x	as long as short
Phoenix XPLlong	+0.0412%	1h	0.09802	long leg	$198K	$651K	10x
Coinbase International XPL-PERP-INTX	+0.0568%	1h	0.09825	+0.235%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5067%	1h	0.09853	+0.524%	$567K	$1.0M	10x	as long as short