XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.3445%/8h= −377.2% APRnext payment −$4.31 per $10,000 · paid last 24h −0.785%

Price spread now: GMX against Kraken Futures−0.367%7-day average −0.091% · you buy dearer than you sell

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

Long on Kraken Futures Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.778%−$78 on $10k

Price spread, last 4 days (all we have)+0.545%+$54 · spread now −0.367%, 7d avg −0.091%

Together, before fees−0.233%−$23 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$103 a day on $10k at the current rate, and GMX is 0.276% cheaper against Kraken Futures than usual: you would sell low and buy high (−$28 if the spread goes back to its 7-day average of −0.091%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.778% in total (about -82.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$4.31 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	Kraken Futures PF_XPLUSD	0.09676	0.2830	pay 0.0354% / 1h	16m 44s	$548K	$930K	10x
Short	GMX XPL/USD [WBTC.b-USDC]	0.09640	L −0.0313% / S +0.0615%	pay 0.0077% / 1h	16m 44s	$106K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Kraken Futures. 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 Kraken FuturesbpFee GMXbpOrdersPrice spread, now −0.367%Rate

Funding earned: −$723.46
Price spread: −0.367% → −0.091%: −$27.63
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$773.09
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 22 min ago; GMX: no order-book sample. 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 Kraken Futures live order book, 22 min ago	18.68 bp	25.0 bp −$25	247.1 bp −$2,471	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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	0.09640	−0.367%	$4.4M	$3.2M	10x	as long as short
01 Exchange XPLUSD	−0.0336%	1h	0.09637	−0.398%	$560	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]short	L −0.0313% / S +0.0615%	1h	0.09640	−0.367%	$106K	—	100x
Deribit XPL_USDC-PERPETUAL	−0.0061%	1h	0.09645	−0.316%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	−0.0007%	4h	0.09640	−0.367%	$30K	$266K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09648	−0.289%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.752%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09649	−0.274%	$73K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0062%	8h	0.09640	−0.363%	$13K	$696	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09636	−0.409%	$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	0.09671	−0.045%	$61.1M	$46.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09667	−0.084%	$255K	$419K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09646	−0.307%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09658	−0.181%	$43.7M	$97.3M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09655	−0.212%	$46.1M	$53.3M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09652	−0.243%	$7.9M	$48.0M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09630	−0.471%	$140K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09659	−0.171%	$3.1M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09666	−0.099%	$12.7M	$6.8M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09652	−0.243%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09660	−0.161%	$8.9M	$9.6M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09657	−0.192%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09648	−0.285%	$178K	$188K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09630	−0.473%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09632	−0.447%	$255K	$1.2M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09650	−0.264%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09649	−0.278%	$126K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09620	−0.574%	$3K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09640	−0.367%	$199	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09636	−0.409%	$133K	$213K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09657	−0.194%	$604K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09644	−0.330%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09638	−0.388%	$195K	$506K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09639	−0.378%	$1.7M	$936K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.09718	+0.439%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSDlong	+0.2830%	1h	0.09676	long leg	$548K	$930K	10x