XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.3011%/8h= +329.7% APRnext payment +$3.76 per $10,000 · paid last 24h +0.549%

Price spread now: Kraken Futures against Bulk+0.254%7-day average +0.060% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$930.930% of the position

Long on Bulk Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.441%+$44 on $10k

Price spread, last 4 days (all we have)−0.398%−$40 · spread now +0.254%, 7d avg +0.060%

Together, before fees+0.042%+$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$90 a day on $10k at the current rate, and Kraken Futures is 0.194% dearer against Bulk than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of +0.060%.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.441% in total (about 44.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.76 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	0.09656	0.0100	pay 0.0013% / 1h	21m 35s	$141K	$5K	10x
Short	Kraken Futures PF_XPLUSD	0.09681	0.3111	get 0.0389% / 1h	21m 35s	$550K	$990K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.254%Rate

Funding earned: $632.36
Price spread: +0.254% → +0.060%: $19.37
Slippage, 4 orders: −$75.98
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $558.75
Costs to cover: 0.930%
Break-even: 0.8 days

Slippage from Bulk: live order book, 32 min ago; Kraken Futures: live order book, 27 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 Bulk live order book, 32 min ago	5.16 bp	8.7 bp −$9	16.3 bp −$163	49.0 bp −$4,898	doesn't fit
Sell Kraken Futures live order book, 27 min ago	27.78 bp	35.1 bp −$35	481.3 bp −$4,813	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	−0.0376%	1h	0.09670	+0.145%	$562	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0304% / S +0.0610%	1h	0.09656	+0.001%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0164%	1h	0.09651	−0.052%	$46K	$18K	25x	as long as short
Backpack XPL_USDC_PERP	−0.0114%	1h	0.09654	−0.021%	$176K	$189K	10x	as long as short
Bybit XPLUSDT	−0.0023%	4h	0.09680	+0.248%	$45.9M	$54.1M	75x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09679	+0.241%	$9K	$585	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.596%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09658	+0.025%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0012%	4h	0.09649	−0.073%	$29K	$339K	10x	as long as short
Paradex XPL-USD-PERP	+0.0058%	8h	0.09670	+0.143%	$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
Lighter XPL	+0.0072%	1h	0.09660	+0.041%	$4.4M	$3.0M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09680	+0.243%	$1.2M	$2.4M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09694	+0.394%	$61.5M	$46.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09683	+0.277%	$252K	$422K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09680	+0.248%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09679	+0.238%	$44.0M	$100.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09680	+0.248%	$8.2M	$48.7M	50x	as long as short
Bulk XPL-USDlong	+0.0100%	1h	0.09656	long leg	$141K	$5K	10x
Gate XPL_USDT	+0.0100%	4h	0.09674	+0.186%	$3.1M	$3.5M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09670	+0.145%	$12.8M	$7.1M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09675	+0.196%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09685	+0.300%	$9.0M	$9.6M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09676	+0.207%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09668	+0.121%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09666	+0.104%	$258K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09660	+0.041%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09690	+0.353%	$129K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09640	−0.166%	$2K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09650	−0.062%	$199	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09657	+0.010%	$141K	$186K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09674	+0.184%	$653K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09646	−0.102%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09662	+0.062%	$196K	$573K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09658	+0.020%	$1.7M	$961K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0640%	1h	0.09685	+0.300%	$75K	$76K	50x	as long as short
Kraken Futures PF_XPLUSDshort	+0.3111%	1h	0.09681	+0.254%	$550K	$990K	10x