XPL

Alert

Funding spread now, next payment 16:00 UTC+0.1323%/8h

next payment, per $10,000+$1.65paid, last 24h−0.045%paid, last 7 days−0.381%to open and close $10k−$134

Long on Hyperliquid Short on Kraken Futures

The current rate is far above what this pair has been paying: over the last 7 days it paid -0.381% in total (about -19.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.65 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	Hyperliquid XPL	0.1022	0.0278	pay 0.0035% / 1h	55m 26s	$68.3M	$35.2M	10x
Short	Kraken Futures PF_XPLUSD	0.1026	0.1602	get 0.0200% / 1h	55m 26s	$147K	$424K	10x

Funding history

latest

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Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee HyperliquidbpFee Kraken FuturesbpOrdersRate

Funding earned: $277.93
Slippage, 4 orders: −$115.4
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $143.53
Break-even: 3.4 days

Slippage from Hyperliquid: live order book, 10 min ago; Kraken Futures: live order book, 59 min ago.

Price risk

price view

Price gap now: +0.294%
Avg gap 7d: −0.111%

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Hyperliquid live order book, 10 min ago	0.48 bp	10.7 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 59 min ago	41.55 bp	56.3 bp −$56	doesn't fit	doesn't fit	doesn't fit

XPL on 35 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Lighter XPL	−0.0752%	1h	$4.6M	$4.1M	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0142%	1h	$48K	$11K	25x	as long as short
01 Exchange XPLUSD	−0.0112%	1h	$594	$3K	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0037% / S +0.0451%	1h	$136K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	$9K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0035%	4h	$28K	$331K	10x	as long as short
Paradex XPL-USD-PERP	+0.0091%	8h	$13K	$1K	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	$1.5M	$2.3M	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Aster XPLUSDT	+0.0100%	4h	$276K	$440K	20x	as long as short
Pacifica XPL	+0.0100%	1h	$231K	$19K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	$47.9M	$90.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	$50.3M	$45.7M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	$10.0M	$52.8M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	$143K	$35K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	$3.2M	$3.8M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	$14.3M	$7.1M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	$2.8M	$1.3M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	$9.1M	$10.5M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	$188K	$281K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	$1.9M	$1.5M	—	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	$30K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	$141K	$3.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	$3K	$1.8M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	$208	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	$150K	$255K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	$667K	$809K	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	$40K	$5K	3x	as long as short
Hyperliquid XPLlong	+0.0278%	1h	$68.3M	$35.2M	10x
Phoenix XPL	+0.0312%	1h	$209K	$596K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	$2.0M	$1.1M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0888%	1h	$108K	$120K	50x	as long as short
Kraken Futures PF_XPLUSDshort	+0.1602%	1h	$147K	$424K	10x