XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0724%/8h= +79.3% APRnext payment +$0.90 per $10,000 · paid last 24h +0.196%

Price spread now: Coinbase International against Polymarket Perps+0.264%7-day average +0.644% · you sell dearer than you buy

Net, funding: paid 7d − costs−$117as in the Funding arb table

Net, price: spread back to 7d avg − costs−$153as in the Price arb table

costs, in and out, $10k−$1151.153% of the position

Long on Polymarket Perps Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.013%−$1 on $10k

Price spread, last 3 days (all we have)+0.371%+$37 · spread now +0.264%, 7d avg +0.644%

Together, before fees+0.358%+$36 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.380% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread +0.264% now, against its 7-day average of +0.644%). If the spread goes back, that is −$38 on $10k: about 42 hours of funding at the current rate (+$22 a day).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.013% in total (about -0.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.90 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps XPL-USD	0.09818	0.0100	pay 0.0013% / 1h	47m 21s	$132K	$2.7M	10x
Short	Coinbase International XPL-PERP-INTX	0.09844	0.0824	get 0.0103% / 1h	47m 21s	$74K	$105K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Polymarket Perps. 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 Polymarket PerpsbpFee Coinbase InternationalbpOrdersPrice spread, now +0.264%Rate

Funding earned: $152.04
Price spread: +0.264% → +0.644%: −$37.97
Slippage, 4 orders: −$97.32
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$1.25
Costs to cover: 1.153%
Break-even: 7.1 days

Slippage from Polymarket Perps: live order book, 2 min ago; Coinbase International: live order book, 40 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 Polymarket Perps live order book, 2 min ago	2.10 bp	6.1 bp −$6	7.7 bp −$77	doesn't fit	doesn't fit
Sell Coinbase International live order book, 40 min ago	32.79 bp	63.5 bp −$64	doesn't fit	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	−0.0296%	1h	0.09799	−0.195%	$4.4M	$4.3M	10x	as long as short
Backpack XPL_USDC_PERP	−0.0254%	1h	0.09778	−0.408%	$181K	$281K	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0068% / S +0.0478%	1h	0.09824	+0.056%	$113K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0055%	1h	0.09823	+0.050%	$47K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09786	−0.322%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.889%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09824	+0.061%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0080%	4h	0.09820	+0.019%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0096%	8h	0.09797	−0.214%	$13K	$2K	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09802	−0.164%	$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	0.09819	+0.008%	$63.2M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09803	−0.151%	$254K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09796	−0.222%	$222K	$19K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09820	+0.019%	$44.5M	$104.1M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09819	+0.009%	$47.7M	$52.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09817	−0.011%	$9.0M	$53.3M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09819	+0.009%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09822	+0.040%	$12.9M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09800	−0.184%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09823	+0.050%	$8.6M	$11.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09819	+0.009%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09735	−0.851%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09720	−0.999%	$264K	$769K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09740	−0.795%	$25K	$86K	50x	as long as short
Polymarket Perps XPL-USDlong	+0.0100%	1h	0.09818	long leg	$132K	$2.7M	10x
SunX XPL-USDT	+0.0100%	4h	0.09800	−0.184%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09810	−0.083%	$204	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09740	−0.795%	$138K	$245K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09730	−0.897%	$140K	$11K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09820	+0.021%	$660K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09825	+0.070%	$38K	$5K	3x	as long as short
01 Exchange XPLUSD	+0.0128%	1h	0.09801	−0.174%	$570	$582	5x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09812	−0.062%	$1.8M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09731	−0.887%	$199K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTXshort	+0.0824%	1h	0.09844	+0.264%	$74K	$105K	50x
Kraken Futures PF_XPLUSD	+0.3474%	1h	0.09844	+0.268%	$518K	$939K	10x	as long as short