XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0715%/8h= −78.3% APRnext payment −$0.89 per $10,000 · paid last 24h −0.161%

Price spread now: GMX against Bulk−0.315%46s7-day average −0.028% · you buy dearer than you sell

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

Long on Bulk Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.237%−$24 on $10k

Price spread, last 4 days (all we have)+0.590%+$59 · spread now −0.315%, 7d avg −0.028%

Together, before fees+0.353%+$35 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$21 a day on $10k at the current rate, and GMX is 0.287% cheaper against Bulk than usual: you would sell low and buy high (−$29 if the spread goes back to its 7-day average of −0.028%). Swap the legs. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.237% in total (about -25.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.89 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	Bulk XPL-USD	0.09655	0.0100	pay 0.0013% / 1h	2m 42s	$141K	$0	10x
Short	GMX XPL/USD [WBTC.b-USDC]	0.09625	L −0.0313% / S +0.0615%	pay 0.0077% / 1h	2m 42s	$106K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bulk. 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 BulkbpFee GMXbpOrdersPrice spread, now −0.315%Rate

Funding earned: −$150.21
Price spread: −0.315% → −0.028%: −$28.65
Slippage, 4 orders: no order book: not counted
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee GMX: 6 bp × 2 orders: −$12
Net: −$197.86
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Bulk: live order book, 41 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 Bulk live order book, 41 min ago	5.20 bp	8.7 bp −$9	17.7 bp −$177	42.5 bp −$4,247	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	−0.1136%	1h	0.09609	−0.476%	$4.3M	$3.2M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0373%	1h	0.09622	−0.342%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]short	L −0.0313% / S +0.0615%	1h	0.09625	−0.315%	$106K	—	100x
01 Exchange XPLUSD	−0.0312%	1h	0.09620	−0.363%	$559	$873	5x	as long as short
Orderly PERP_XPL_USDC	−0.0008%	4h	0.09619	−0.373%	$30K	$247K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09630	−0.263%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.585%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09641	−0.149%	$73K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0058%	8h	0.09621	−0.348%	$13K	$696	5x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09642	−0.134%	$60.9M	$46.1M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster XPLUSDT	+0.0100%	4h	0.09634	−0.219%	$254K	$420K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09632	−0.234%	$220K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09623	−0.331%	$43.8M	$97.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09623	−0.331%	$45.9M	$53.4M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09622	−0.342%	$7.8M	$48.0M	50x	as long as short
Bulk XPL-USDlong	+0.0100%	1h	0.09655	long leg	$141K	$0	10x
Gate XPL_USDT	+0.0100%	4h	0.09625	−0.311%	$3.0M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09623	−0.331%	$12.6M	$6.8M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09631	−0.249%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09633	−0.228%	$9.0M	$9.8M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09624	−0.321%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09626	−0.300%	$180K	$187K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09647	−0.085%	$1.8M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09635	−0.202%	$263K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09650	−0.052%	$25K	$75K	50x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09627	−0.285%	$1.3M	$2.2M	10x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09637	−0.189%	$126K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09600	−0.570%	$2K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09620	−0.363%	$200	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09607	−0.497%	$133K	$213K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09620	−0.359%	$604K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09620	−0.363%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09660	+0.052%	$196K	$506K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09620	−0.363%	$1.7M	$934K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.09718	+0.653%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2835%	1h	0.09657	+0.016%	$548K	$932K	10x	as long as short