XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0340%/8h= −37.2% APRnext payment −$0.43 per $10,000 · paid last 24h −0.150%

Price spread now: Lighter against Pacifica−0.117%7-day average −0.090% · you buy dearer than you sell

Net, funding: paid 7d − costs−$120as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$670.668% of the position

Long on Pacifica Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.535%−$54 on $10k

Price spread, last 4 days (all we have)+0.032%+$3 · spread now −0.117%, 7d avg −0.090%

Together, before fees−0.503%+ Points / potential airdropPacifica: Active · Lighter: Season 3 · farm board−$50 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Lighter is 0.028% cheaper against Pacifica than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.090%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica XPL	0.09719	0.0100	pay 0.0013% / 1h	19m 10s	$221K	$46K	10x
Short	Lighter XPL	0.09708	−0.0240	pay 0.0030% / 1h	19m 10s	$4.4M	$4.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Pacifica. 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 PacificabpFee LighterbpOrdersPrice spread, now −0.117%Rate

Funding earned: −$71.4
Price spread: −0.117% → −0.090%: −$2.78
Slippage, 4 orders: −$58.77
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$140.95
Costs to cover: 0.668%
Break-even: never at this rate

Slippage from Pacifica: live order book, 64 min ago; Lighter: live order book, 3 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 Pacifica live order book, 64 min ago	5.10 bp	21.9 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	2.57 bp	15.1 bp −$15	31.9 bp −$319	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
Backpack XPL_USDC_PERP	−0.0307%	1h	0.09722	+0.027%	$177K	$282K	10x	as long as short
Lighter XPLshort	−0.0240%	1h	0.09708	−0.117%	$4.4M	$4.1M	10x
01 Exchange XPLUSD	−0.0224%	1h	0.09717	−0.025%	$565	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0111% / S +0.0506%	1h	0.09725	+0.062%	$112K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0059%	1h	0.09718	−0.014%	$47K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09720	+0.009%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.110%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09724	+0.044%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0071%	4h	0.09715	−0.045%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0082%	8h	0.09710	−0.092%	$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	0.09721	+0.016%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09734	+0.146%	$62.9M	$47.8M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09726	+0.065%	$251K	$527K	20x	as long as short
Pacifica XPLlong	+0.0100%	1h	0.09719	long leg	$221K	$46K	10x
Binance XPLUSDT	+0.0100%	4h	0.09716	−0.035%	$43.8M	$106.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09717	−0.025%	$47.9M	$54.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09716	−0.035%	$8.9M	$53.9M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09725	+0.053%	$142K	$9K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09715	−0.045%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09716	−0.035%	$12.6M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09716	−0.035%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09724	+0.047%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09717	−0.025%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09717	−0.022%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09720	+0.006%	$259K	$787K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09730	+0.109%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09732	+0.126%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09700	−0.200%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09710	−0.097%	$447	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09713	−0.066%	$138K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09716	−0.039%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09720	+0.006%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09710	−0.097%	$1.7M	$1.1M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09744	+0.253%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09760	+0.418%	$72K	$104K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4595%	1h	0.09769	+0.512%	$561K	$996K	10x	as long as short