XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0726%/8h= −79.5% APRnext payment −$0.91 per $10,000 · paid last 24h −0.128%

Price spread now: GMX against Backpack+0.020%7-day average +0.009% · you sell dearer than you buy

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

Long on Backpack Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.205%−$20 on $10k

Price spread, last 4 days (all we have)+0.204%+$20 · spread now +0.020%, 7d avg +0.009%

Together, before fees0.000%$0 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.009%, so right now this pair is about funding alone: −$22 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.205% in total (about -21.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.91 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	Backpack XPL_USDC_PERP	0.09652	0.0100	pay 0.0013% / 1h	3m 09s	$184K	$173K	10x
Short	GMX XPL/USD [WBTC.b-USDC]	0.09654	L −0.0329% / S +0.0626%	pay 0.0078% / 1h	3m 09s	$107K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.020%Rate

Funding earned: −$152.43
Price spread: +0.020% → +0.009%: $1.07
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$173.36
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 30 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 Backpack live order book, 30 min ago	0.53 bp	12.0 bp −$12	doesn't fit	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
Lighter XPL	−0.1088%	1h	0.09636	−0.166%	$4.4M	$3.2M	10x	as long as short
01 Exchange XPLUSD	−0.0432%	1h	0.09637	−0.155%	$560	$873	5x	as long as short
Bybit XPLUSDT	−0.0426%	4h	0.09645	−0.073%	$45.7M	$53.9M	75x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0372%	1h	0.09640	−0.124%	$46K	$16K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]short	L −0.0329% / S +0.0626%	1h	0.09654	+0.020%	$107K	—	100x
Paradex XPL-USD-PERP	−0.0123%	8h	0.09644	−0.079%	$13K	$696	5x	as long as short
OKX XPL-USDT-SWAP	−0.0087%	4h	0.09644	−0.083%	$7.7M	$47.9M	50x	as long as short
Orderly PERP_XPL_USDC	−0.0034%	4h	0.09635	−0.176%	$30K	$220K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09651	−0.012%	$9K	$600	5x	as long as short
Extended XPL-USD	0.0000%	1h	0.09642	−0.104%	$610K	$1.2M	25x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.563%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09647	−0.050%	$73K	—	150x	as long as short
MEXC XPL_USDT	+0.0086%	4h	0.09644	−0.083%	$13.5M	$6.7M	100x	as long as short
Binance XPLUSDT	+0.0087%	4h	0.09641	−0.113%	$44.2M	$97.5M	75x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09644	−0.088%	$1.3M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09666	+0.141%	$61.2M	$45.4M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09656	+0.041%	$255K	$398K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09655	+0.027%	$221K	$47K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09650	−0.021%	$3.1M	$3.4M	75x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09642	−0.104%	$2.4M	$1.3M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09657	+0.052%	$9.0M	$10.0M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09647	−0.052%	—	$7.7M	—	as long as short
Backpack XPL_USDC_PERPlong	+0.0100%	1h	0.09652	long leg	$184K	$173K	10x
Variational Omni XPL	+0.0100%	4h	0.09642	−0.105%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09641	−0.116%	$259K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09660	+0.083%	$25K	$73K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09649	−0.031%	$126K	$1.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09640	−0.124%	$2K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09640	−0.124%	$184	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09640	−0.124%	$134K	$214K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09640	−0.124%	$140K	$0	10x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09645	−0.073%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0251%	1h	0.09666	+0.145%	$195K	$494K	10x	as long as short
BloFin XPL-USDT	+0.0327%	4h	0.09645	−0.073%	$1.7M	$947K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0536%	1h	0.09713	+0.632%	$65K	$93K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2681%	1h	0.09674	+0.231%	$552K	$974K	10x	as long as short