XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.4498%/8h= +492.6% APRnext payment +$5.62 per $10,000 · paid last 24h +0.288%

Price spread now: Kraken Futures against Polymarket Perps+0.419%7-day average −0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$110as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$1151.147% of the position

Long on Polymarket Perps Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.043%+$4 on $10k

Price spread, last 3 days (all we have)−0.653%−$65 · spread now +0.419%, 7d avg −0.009%

Together, before fees−0.611%−$61 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$135 a day on $10k at the current rate, and Kraken Futures is 0.428% dearer against Polymarket Perps than usual: you sell high and buy low: +$43 more if the spread goes back to its 7-day average of −0.009%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.043% in total (about 2.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$5.62 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	0.09722	0.0100	pay 0.0013% / 1h	32m 54s	$129K	$2.7M	10x
Short	Kraken Futures PF_XPLUSD	0.09762	0.4598	get 0.0575% / 1h	32m 54s	$513K	$957K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.419%Rate

Funding earned: $944.65
Price spread: +0.419% → −0.009%: $42.78
Slippage, 4 orders: −$96.7
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $872.73
Costs to cover: 1.147%
Break-even: 0.5 days

Slippage from Polymarket Perps: live order book, 6 min ago; Kraken Futures: live order book, 50 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, 6 min ago	3.95 bp	8.0 bp −$8	8.4 bp −$84	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 50 min ago	28.43 bp	47.6 bp −$48	475.3 bp −$4,753	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
Backpack XPL_USDC_PERP	−0.0384%	1h	0.09725	+0.034%	$177K	$281K	10x	as long as short
01 Exchange XPLUSD	−0.0224%	1h	0.09703	−0.192%	$564	$708	5x	as long as short
Lighter XPL	−0.0200%	1h	0.09703	−0.192%	$4.4M	$4.1M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0104% / S +0.0502%	1h	0.09719	−0.025%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09717	−0.051%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.130%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09720	−0.017%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09719	−0.026%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0076%	4h	0.09720	−0.017%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0089%	8h	0.09709	−0.126%	$13K	$2K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XPL-PERP	+0.0100%	1h	0.09709	−0.131%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09745	+0.236%	$63.0M	$47.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09730	+0.085%	$251K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09714	−0.075%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09722	+0.008%	$43.8M	$106.3M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09723	+0.013%	$47.3M	$54.1M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09721	−0.007%	$8.9M	$53.5M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09750	+0.289%	$140K	$8K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09720	−0.017%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09723	+0.013%	$12.6M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09718	−0.038%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09731	+0.096%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09723	+0.013%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09701	−0.209%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09687	−0.353%	$260K	$777K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09700	−0.223%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USDlong	+0.0100%	1h	0.09722	long leg	$129K	$2.7M	10x
SunX XPL-USDT	+0.0100%	4h	0.09690	−0.326%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09710	−0.120%	$447	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09708	−0.141%	$138K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09722	+0.001%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09721	−0.004%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09718	−0.038%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09762	+0.415%	$198K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09760	+0.394%	$72K	$104K	50x	as long as short
Kraken Futures PF_XPLUSDshort	+0.4598%	1h	0.09762	+0.419%	$513K	$957K	10x