XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0208%/8h= +22.8% APRnext payment +$0.26 per $10,000 · paid last 24h +0.042%

Price spread now: Pacifica against Backpack0.000%7-day average +0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs−$84as in the Price arb table

costs, in and out, $10k−$830.832% of the position

Long on Backpack Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.032%−$3 on $10k

Price spread, last 4 days (all we have)−0.687%−$69 · spread now 0.000%, 7d avg +0.009%

Together, before fees−0.719%+ Points / potential airdropPacifica: Active · farm board−$72 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: +$6 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.032% in total (about -1.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.26 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	0.09520	−0.0108	get 0.0013% / 1h	50m 00s	$176K	$227K	10x
Short	Pacifica XPL	0.09520	0.0100	get 0.0013% / 1h	50m 00s	$217K	$48K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now 0.000%Rate

Funding earned: $43.64
Price spread: 0.000% → +0.009%: −$0.85
Slippage, 4 orders: −$65.25
Fee Backpack: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$40.46
Costs to cover: 0.832%
Break-even: 13.5 days

Slippage from Backpack: live order book, 8 min ago; Pacifica: live order book, 8 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, 8 min ago	1.57 bp	9.1 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Pacifica live order book, 8 min ago	15.70 bp	39.2 bp −$39	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
01 Exchange XPLUSD	−0.0320%	1h	0.09513	−0.074%	$553	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0289% / S +0.0601%	1h	0.09521	+0.011%	$105K	—	100x	as long as short
Bybit XPLUSDT	−0.0114%	4h	0.09508	−0.126%	$45.0M	$55.9M	75x	as long as short
Backpack XPL_USDC_PERPlong	−0.0108%	1h	0.09520	long leg	$176K	$227K	10x
dYdX XPL-USD	0.0000%	1h	0.09517	−0.027%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.475%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09520	0.000%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	+0.0004%	4h	0.09518	−0.021%	$29K	$335K	10x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09521	+0.008%	$72K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0071%	8h	0.09525	+0.049%	$12K	$2K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XPL	+0.0096%	1h	0.09512	−0.084%	$4.3M	$3.3M	10x	as long as short
OKX XPL-USDT-SWAP	+0.0097%	4h	0.09515	−0.053%	$8.2M	$49.7M	50x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09515	−0.047%	$1.2M	$2.7M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09529	+0.098%	$59.7M	$47.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09524	+0.042%	$242K	$477K	20x	as long as short
Pacifica XPLshort	+0.0100%	1h	0.09520	0.000%	$217K	$48K	10x
Binance XPLUSDT	+0.0100%	4h	0.09517	−0.032%	$43.2M	$105.4M	75x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09518	−0.021%	$3.0M	$3.5M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09519	−0.011%	$12.3M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09509	−0.116%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09521	+0.011%	$8.5M	$10.4M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09515	−0.053%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09518	−0.023%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09541	+0.217%	$254K	$955K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09570	+0.525%	$25K	$80K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09528	+0.084%	$127K	$2.1M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09500	−0.210%	$2K	$1.8M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09520	0.000%	$2K	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09534	+0.147%	$143K	$236K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09565	+0.473%	$139K	$5K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09517	−0.031%	$646K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09520	0.000%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0334%	1h	0.09568	+0.504%	$194K	$617K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09528	+0.084%	$1.7M	$983K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0616%	1h	0.09606	+0.903%	$74K	$86K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3338%	1h	0.09556	+0.375%	$541K	$977K	10x	as long as short