XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0413%/8h= −45.3% APRnext payment −$0.52 per $10,000 · paid last 24h −0.133%

Price spread now: Deribit against Phoenix−0.062%70s7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Deribit is 0.062% cheaper against Phoenix than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 70 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	Phoenix XPL	0.09632	0.0248	pay 0.0031% / 1h	10m 19s	$195K	$629K	10x
Short	Deribit XPL_USDC-PERPETUAL	0.09626	−0.0165	pay 0.0021% / 1h	10m 19s	$46K	$18K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Phoenix. 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 PhoenixbpFee DeribitbpOrdersPrice spread, now −0.062%Rate

Funding earned: −$86.8
Price spread: −0.062% → 0.000%: −$6.23
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$107.03
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Phoenix: live order book, 52 min ago; Deribit: 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 Phoenix live order book, 52 min ago	1.03 bp	14.9 bp −$15	56.2 bp −$562	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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
01 Exchange XPLUSD	−0.0392%	1h	0.09630	−0.021%	$560	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0269% / S +0.0588%	1h	0.09628	−0.037%	$106K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0268%	1h	0.09646	+0.145%	$179K	$231K	10x	as long as short
Deribit XPL_USDC-PERPETUALshort	−0.0165%	1h	0.09626	−0.062%	$46K	$18K	25x
Bybit XPLUSDT	−0.0127%	4h	0.09618	−0.145%	$45.5M	$56.7M	75x	as long as short
Orderly PERP_XPL_USDC	−0.0001%	4h	0.09623	−0.093%	$29K	$335K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09635	+0.032%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−21.403%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09629	−0.026%	$73K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0061%	4h	0.09623	−0.093%	$8.3M	$52.5M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPL-USD-PERP	+0.0062%	8h	0.09640	+0.085%	$13K	$2K	5x	as long as short
Lighter XPL	+0.0096%	1h	0.09634	+0.021%	$4.4M	$4.2M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09627	−0.047%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09643	+0.111%	$60.5M	$48.3M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09645	+0.131%	$245K	$497K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09647	+0.154%	$220K	$48K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09623	−0.095%	$43.6M	$108.2M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09643	+0.118%	$140K	$5K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09626	−0.062%	$3.0M	$3.8M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09634	+0.021%	$12.5M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09618	−0.145%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09630	−0.021%	$8.5M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09622	−0.104%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09618	−0.149%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09611	−0.217%	$253K	$930K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09620	−0.125%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09647	+0.152%	$128K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09620	−0.125%	$2K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09620	−0.125%	$2K	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09642	+0.104%	$145K	$263K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09620	−0.119%	$636K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09624	−0.078%	$29K	$18K	3x	as long as short
Phoenix XPLlong	+0.0248%	1h	0.09632	long leg	$195K	$629K	10x
BloFin XPL-USDT	+0.0340%	4h	0.09626	−0.062%	$1.7M	$1.0M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0672%	1h	0.09670	+0.395%	$75K	$93K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3556%	1h	0.09667	+0.363%	$548K	$1.0M	10x	as long as short