XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0334%/8h= +36.6% APRnext payment +$0.42 per $10,000 · paid last 24h +0.095%

Price spread now: Hyperliquid against GMX−0.049%7-day average +0.115% · you buy dearer than you sell

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

Long on GMX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.033%+$3 on $10k

Price spread, last 4 days (all we have)+0.110%+$11 · spread now −0.049%, 7d avg +0.115%

Together, before fees+0.143%+ Points / potential airdropHyperliquid: Season 2 · farm board+$14 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.164% cheaper against GMX than usual: you would sell low and buy high (spread −0.049% now, against its 7-day average of +0.115%). If the spread goes back, that is −$16 on $10k: about 39 hours of funding at the current rate (+$10 a day). At the pace of the last 3 days (+0.033% in total) that is about 17 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.033% in total (about 3.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.42 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	GMX XPL/USD [WBTC.b-USDC]	0.09575	L −0.0234% / S +0.0570%	get 0.0029% / 1h	1m 40s	$106K	—	100x
Short	Hyperliquid XPL	0.09570	0.0100	get 0.0013% / 1h	1m 40s	$60.6M	$46.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against GMX. 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 GMXbpFee HyperliquidbpOrdersPrice spread, now −0.049%Rate

Funding earned: $70.24
Price spread: −0.049% → +0.115%: −$16.45
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $32.79
Costs to cover: 0.210%
Break-even: 3.7 days

Slippage unknown: GMX: no order-book sample; Hyperliquid: live order book, 12 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 12 min ago	0.93 bp	10.4 bp −$10	doesn't fit	doesn't fit	doesn't fit

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
01 Exchange XPLUSD	−0.0360%	1h	0.09565	−0.105%	$556	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]long	L −0.0234% / S +0.0570%	1h	0.09575	long leg	$106K	—	100x
Deribit XPL_USDC-PERPETUAL	−0.0168%	1h	0.09569	−0.064%	$46K	$18K	25x	as long as short
Backpack XPL_USDC_PERP	−0.0072%	1h	0.09568	−0.074%	$174K	$190K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09572	−0.034%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.933%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09573	−0.023%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0008%	4h	0.09566	−0.095%	$29K	$335K	10x	as long as short
Lighter XPL	+0.0016%	1h	0.09553	−0.231%	$4.3M	$3.0M	10x	as long as short
Bybit XPLUSDT	+0.0021%	4h	0.09561	−0.147%	$45.2M	$54.1M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPL-USD-PERP	+0.0051%	8h	0.09562	−0.134%	$12K	$696	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09569	−0.061%	$1.2M	$2.4M	10x	as long as short
Hyperliquid XPLshort	+0.0100%	1h	0.09570	−0.049%	$60.6M	$46.6M	10x
Aster XPLUSDT	+0.0100%	4h	0.09568	−0.075%	$249K	$423K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09567	−0.079%	$219K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09560	−0.158%	$43.4M	$100.7M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09564	−0.116%	$8.1M	$48.2M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09601	+0.266%	$140K	$5K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09569	−0.064%	$3.1M	$3.5M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09559	−0.168%	$12.6M	$7.1M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09555	−0.210%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09569	−0.064%	$9.0M	$9.7M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09560	−0.158%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09625	+0.519%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09613	+0.397%	$259K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09630	+0.573%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09578	+0.032%	$127K	$1.9M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09550	−0.262%	$3K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09570	−0.053%	$195	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09611	+0.375%	$141K	$184K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09563	−0.129%	$650K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09566	−0.100%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09646	+0.740%	$195K	$573K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09605	+0.312%	$1.7M	$950K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0640%	1h	0.09708	+1.388%	$75K	$76K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3138%	1h	0.09597	+0.225%	$546K	$988K	10x	as long as short