XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.3137%/8h= +343.5% APRnext payment +$3.92 per $10,000 · paid last 24h +0.681%

Price spread now: Kraken Futures against GMX+0.408%7-day average +0.091% · you sell dearer than you buy

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

Long on GMX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.499%+$50 on $10k

Price spread, last 4 days (all we have)−0.586%−$59 · spread now +0.408%, 7d avg +0.091%

Together, before fees−0.087%−$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$94 a day on $10k at the current rate, and Kraken Futures is 0.317% dearer against GMX than usual: you sell high and buy low: +$32 more if the spread goes back to its 7-day average of +0.091%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.499% in total (about 52.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.92 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]	0.09656	L −0.0313% / S +0.0615%	get 0.0039% / 1h	14m 53s	$107K	—	100x
Short	Kraken Futures PF_XPLUSD	0.09695	0.2824	get 0.0353% / 1h	14m 53s	$549K	$931K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.408%Rate

Funding earned: $658.7
Price spread: +0.408% → +0.091%: $31.72
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $668.42
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; Kraken Futures: live order book, 23 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 Kraken Futures live order book, 23 min ago	18.68 bp	36.6 bp −$37	198.8 bp −$1,988	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
Lighter XPL	−0.1136%	1h	0.09642	−0.144%	$4.4M	$3.2M	10x	as long as short
01 Exchange XPLUSD	−0.0336%	1h	0.09655	−0.009%	$561	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]long	L −0.0313% / S +0.0615%	1h	0.09656	long leg	$107K	—	100x
Orderly PERP_XPL_USDC	−0.0007%	4h	0.09653	−0.030%	$30K	$266K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09663	+0.074%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.593%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09660	+0.042%	$46K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09657	+0.013%	$73K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0063%	8h	0.09655	−0.013%	$13K	$696	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09655	−0.004%	$1.3M	$2.2M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid XPL	+0.0100%	1h	0.09675	+0.200%	$61.1M	$46.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09663	+0.074%	$255K	$419K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09660	+0.042%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09657	+0.011%	$43.9M	$97.4M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09653	−0.030%	$46.1M	$53.3M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09653	−0.030%	$7.9M	$48.1M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09630	−0.268%	$140K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09660	+0.042%	$3.1M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09655	−0.009%	$12.7M	$6.8M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09657	+0.011%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09663	+0.074%	$8.9M	$9.6M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09654	−0.020%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09667	+0.115%	$181K	$189K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09658	+0.020%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09632	−0.244%	$255K	$1.2M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09660	+0.042%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09666	+0.107%	$126K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09640	−0.165%	$3K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09660	+0.042%	$199	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09666	+0.105%	$134K	$213K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09651	−0.049%	$604K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09659	+0.034%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09680	+0.250%	$196K	$506K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09656	+0.001%	$1.7M	$938K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.09718	+0.643%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSDshort	+0.2824%	1h	0.09695	+0.408%	$549K	$931K	10x