XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.00 per $10,000 · paid last 24h +0.026%

Price spread now: Extended against Backpack−0.032%7-day average −0.068% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$370.369% of the position

Long on Backpack Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.106%−$11 on $10k

Price spread, last 4 days (all we have)−0.425%−$43 · spread now −0.032%, 7d avg −0.068%

Together, before fees−0.531%+ Points / potential airdropExtended: Active · farm board−$53 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Extended is 0.036% dearer against Backpack than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.068%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack XPL_USDC_PERP	0.09797	0.0100	pay 0.0013% / 1h	58m 28s	$181K	$281K	10x
Short	Extended XPL-USD	0.09794	0.0104	get 0.0013% / 1h	58m 28s	$658K	$1.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Backpack. 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 BackpackbpFee ExtendedbpOrdersPrice spread, now −0.032%Rate

Funding earned: $0.84
Price spread: −0.032% → −0.068%: $3.64
Slippage, 4 orders: −$21.88
Fee Backpack: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$32.39
Costs to cover: 0.369%
Break-even: 277.0 days

Slippage from Backpack: live order book, 15 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 Backpack live order book, 15 min ago	1.03 bp	8.9 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 5 min ago	1.02 bp	9.8 bp −$10	21.6 bp −$216	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	−0.0312%	1h	0.09782	−0.153%	$4.4M	$4.2M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0158%	1h	0.09795	−0.020%	$47K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0151% / S +0.0532%	1h	0.09795	−0.018%	$113K	—	100x	as long as short
01 Exchange XPLUSD	−0.0136%	1h	0.09791	−0.061%	$569	$708	5x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09799	+0.017%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.728%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09798	+0.007%	$76K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0023%	8h	0.09794	−0.031%	$13K	$2K	5x	as long as short
Orderly PERP_XPL_USDC	+0.0035%	4h	0.09793	−0.041%	$29K	$335K	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09788	−0.094%	$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	0.09806	+0.093%	$63.3M	$48.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09797	0.000%	$254K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09798	+0.012%	$223K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09793	−0.041%	$44.7M	$108.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09788	−0.092%	$47.5M	$55.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09787	−0.102%	$8.7M	$55.3M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09796	−0.015%	$143K	$4K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09797	0.000%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09792	−0.051%	$12.9M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09790	−0.071%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09797	0.000%	$8.8M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09792	−0.051%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERPlong	+0.0100%	1h	0.09797	long leg	$181K	$281K	10x
Variational Omni XPL	+0.0100%	4h	0.09787	−0.100%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09788	−0.087%	$259K	$814K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09800	+0.031%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09800	+0.028%	$131K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09770	−0.276%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09790	−0.071%	$201	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09797	0.000%	$142K	$242K	20x	as long as short
Extended XPL-USDshort	+0.0104%	1h	0.09794	−0.032%	$658K	$1.1M	25x
Aevo XPL-PERP	+0.0104%	1h	0.09799	+0.017%	$38K	$5K	3x	as long as short
Phoenix XPL	+0.0327%	1h	0.09812	+0.153%	$199K	$650K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09795	−0.020%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09804	+0.071%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5053%	1h	0.09846	+0.499%	$569K	$1.0M	10x	as long as short