XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0128%/8h= −14.0% APRnext payment −$0.16 per $10,000 · paid last 24h −0.147%

Price spread now: Lighter against Extended−0.085%7-day average −0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$91as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$430.425% of the position

Long on Extended Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.483%−$48 on $10k

Price spread, last 4 days (all we have)+0.130%+$13 · spread now −0.085%, 7d avg −0.011%

Together, before fees−0.353%+ Points / potential airdropExtended: Active · Lighter: Season 3 · farm board−$35 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Lighter is 0.074% cheaper against Extended than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.011%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XPL-USD	0.09866	0.0104	pay 0.0013% / 1h	27m 52s	$669K	$1.1M	25x
Short	Lighter XPL	0.09858	−0.0024	pay 0.0003% / 1h	27m 52s	$4.5M	$4.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Extended. 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 ExtendedbpFee LighterbpOrdersPrice spread, now −0.085%Rate

Funding earned: −$26.88
Price spread: −0.085% → −0.011%: −$7.36
Slippage, 4 orders: −$37.54
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Lighter: 0 bp × 2 orders: $0
Net: −$76.78
Costs to cover: 0.425%
Break-even: never at this rate

Slippage from Extended: live order book, just now; Lighter: 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 Extended live order book, just now	2.03 bp	9.0 bp −$9	23.3 bp −$233	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	4.07 bp	11.5 bp −$11	32.9 bp −$329	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
GMX XPL/USD [WBTC.b-USDC]	L −0.0165% / S +0.0541%	1h	0.09872	+0.059%	$114K	—	100x	as long as short
01 Exchange XPLUSD	−0.0136%	1h	0.09879	+0.128%	$574	$708	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0054%	1h	0.09875	+0.087%	$47K	$18K	25x	as long as short
Backpack XPL_USDC_PERP	−0.0031%	1h	0.09873	+0.067%	$184K	$273K	10x	as long as short
Lighter XPLshort	−0.0024%	1h	0.09858	−0.085%	$4.5M	$4.2M	10x
dYdX XPL-USD	0.0000%	1h	0.09870	+0.036%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−23.270%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09872	+0.053%	$77K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0026%	4h	0.09870	+0.037%	$30K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0044%	8h	0.09878	+0.122%	$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
Nado XPL-PERP	+0.0100%	1h	0.09875	+0.085%	$1.5M	$2.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09879	+0.128%	$256K	$535K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09881	+0.147%	$225K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09868	+0.020%	$45.1M	$108.8M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09869	+0.027%	$48.0M	$55.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09866	−0.004%	$8.8M	$55.9M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09880	+0.138%	$144K	$2K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09870	+0.037%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09869	+0.027%	$13.0M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09869	+0.027%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09872	+0.057%	$8.8M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09868	+0.016%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09857	−0.095%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09872	+0.055%	$261K	$840K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09840	−0.267%	$25K	$89K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09888	+0.221%	$132K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09860	−0.065%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09870	+0.037%	$202	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09845	−0.217%	$143K	$242K	20x	as long as short
Extended XPL-USDlong	+0.0104%	1h	0.09866	long leg	$669K	$1.1M	25x
Aevo XPL-PERP	+0.0104%	1h	0.09863	−0.031%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09844	−0.227%	$199K	$655K	10x	as long as short
Hyperliquid XPL	+0.0238%	1h	0.09887	+0.211%	$64.0M	$47.3M	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09853	−0.136%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09881	+0.148%	$73K	$96K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5017%	1h	0.09916	+0.502%	$573K	$1.0M	10x	as long as short