XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0152%/8h= +16.7% APRnext payment +$0.19 per $10,000 · paid last 24h +0.058%

Price spread now: Phoenix against Pacifica0.000%47s7-day average +0.124% · you sell dearer than you buy

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$750.753% of the position

Long on Pacifica Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.415%+$41 on $10k

Price spread, last 4 days (all we have)+0.367%+$37 · spread now 0.000%, 7d avg +0.124%

Together, before fees+0.781%+ Points / potential airdropPacifica: Active · farm board+$78 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.124% cheaper against Pacifica than usual: you would sell low and buy high (spread 0.000% now, against its 7-day average of +0.124%). If the spread goes back, that is −$12 on $10k: about 2.7 days of funding at the current rate (+$5 a day). The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica XPL	0.09340	0.0100	pay 0.0013% / 1h	29m 51s	$209K	$51K	10x
Short	Phoenix XPL	0.09340	0.0252	get 0.0032% / 1h	29m 51s	$189K	$435K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now 0.000%Rate

Funding earned: $31.97
Price spread: 0.000% → +0.124%: −$12.42
Slippage, 4 orders: −$60.32
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$55.77
Costs to cover: 0.753%
Break-even: 19.2 days

Slippage from Pacifica: live order book, 16 min ago; Phoenix: live order book, 16 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, 16 min ago	5.30 bp	20.9 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix live order book, 16 min ago	1.06 bp	14.5 bp −$15	48.2 bp −$482	doesn't fit	doesn't fit

XPL on 36 exchanges

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	−0.0936%	1h	0.09308	−0.343%	$541	$873	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0449% / S +0.0695%	1h	0.09338	−0.026%	$103K	—	100x	as long as short
Lighter XPL	−0.0408%	1h	0.09322	−0.193%	$4.2M	$3.1M	10x	as long as short
Bybit XPLUSDT	−0.0347%	4h	0.09329	−0.118%	$43.6M	$54.6M	75x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0286%	1h	0.09332	−0.086%	$46K	$18K	25x	as long as short
Paradex XPL-USD-PERP	−0.0115%	8h	0.09319	−0.227%	$12K	$696	5x	as long as short
Orderly PERP_XPL_USDC	−0.0112%	4h	0.09327	−0.139%	$29K	$147K	10x	as long as short
Backpack XPL_USDC_PERP	−0.0110%	1h	0.09330	−0.107%	$186K	$175K	10x	as long as short
Extended XPL-USD	−0.0104%	1h	0.09327	−0.134%	$589K	$1.1M	25x	as long as short
Binance XPLUSDT	−0.0068%	4h	0.09331	−0.092%	$42.7M	$98.7M	75x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC XPL_USDT	−0.0068%	4h	0.09330	−0.107%	$12.6M	$6.6M	100x	as long as short
OKX XPL-USDT-SWAP	−0.0021%	4h	0.09334	−0.064%	$7.1M	$47.7M	50x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−18.944%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09329	−0.116%	$70K	—	150x	as long as short
Gate XPL_USDT	+0.0028%	4h	0.09329	−0.118%	$2.8M	$3.3M	75x	as long as short
Aevo XPL-PERP	+0.0064%	1h	0.09325	−0.161%	$28K	$18K	3x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09341	+0.012%	$58.2M	$43.4M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09331	−0.097%	$241K	$385K	20x	as long as short
Pacifica XPLlong	+0.0100%	1h	0.09340	long leg	$209K	$51K	10x
Bulk XPL-USD	+0.0100%	1h	0.09380	+0.423%	$137K	$5K	10x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09334	−0.064%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09337	−0.032%	$8.7M	$10.2M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09333	−0.075%	—	$7.7M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09346	+0.067%	$1.8M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09311	−0.308%	$246K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09340	0.000%	$24K	$67K	50x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09327	−0.134%	$1.2M	$2.3M	10x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09331	−0.093%	$61K	$1.3M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09320	−0.214%	$2K	$1.5M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09330	−0.107%	$176	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09351	+0.118%	$132K	$217K	20x	as long as short
dYdX XPL-USD	+0.0131%	1h	0.09325	−0.157%	$9K	$1K	5x	as long as short
BloFin XPL-USDT	+0.0172%	4h	0.09342	+0.021%	$1.7M	$853K	75x	as long as short
Phoenix XPLshort	+0.0252%	1h	0.09340	0.000%	$189K	$435K	10x
Coinbase International XPL-PERP-INTX	+0.0712%	1h	0.09351	+0.118%	$63K	$90K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.1369%	1h	0.09345	+0.055%	$551K	$1.0M	10x	as long as short