XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.2736%/8h= +299.6% APRnext payment +$3.42 per $10,000 · paid last 24h +0.625%

Price spread now: Kraken Futures against Polymarket Perps+0.158%7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

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

Long on Polymarket Perps Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.427%+$43 on $10k

Price spread, last 4 days (all we have)−0.374%−$37 · spread now +0.158%, 7d avg +0.027%

Together, before fees+0.052%+$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$82 a day on $10k at the current rate, and Kraken Futures is 0.132% dearer against Polymarket Perps than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.027%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.427% in total (about 22.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.42 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	Polymarket Perps XPL-USD	0.09640	0.0100	pay 0.0013% / 1h	25m 14s	$126K	$1.8M	10x
Short	Kraken Futures PF_XPLUSD	0.09655	0.2836	get 0.0354% / 1h	25m 14s	$547K	$933K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Polymarket Perps. 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 Polymarket PerpsbpFee Kraken FuturesbpOrdersPrice spread, now +0.158%Rate

Funding earned: $574.52
Price spread: +0.158% → +0.027%: $13.18
Slippage, 4 orders: −$57.33
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $512.37
Costs to cover: 0.753%
Break-even: 0.8 days

Slippage from Polymarket Perps: live order book, 3 min ago; Kraken Futures: live order book, 13 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 Polymarket Perps live order book, 3 min ago	2.40 bp	6.4 bp −$6	7.5 bp −$75	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 13 min ago	18.68 bp	36.6 bp −$37	198.8 bp −$1,988	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
Lighter XPL	−0.1160%	1h	0.09608	−0.329%	$4.3M	$3.2M	10x	as long as short
01 Exchange XPLUSD	−0.0352%	1h	0.09625	−0.152%	$642	$790	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09597	−0.446%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0062%	1h	0.09623	−0.173%	$46K	$18K	25x	as long as short
Orderly PERP_XPL_USDC	−0.0007%	4h	0.09620	−0.204%	$30K	$266K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09621	−0.190%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.464%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09626	−0.144%	$73K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0062%	8h	0.09615	−0.257%	$12K	$696	5x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09623	−0.171%	$1.2M	$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	0.09633	−0.071%	$60.8M	$46.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09629	−0.106%	$254K	$415K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09624	−0.165%	$220K	$47K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09622	−0.181%	$43.6M	$97.0M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09618	−0.225%	$45.9M	$53.2M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09621	−0.194%	$7.9M	$47.9M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09565	−0.775%	$139K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09628	−0.121%	$3.0M	$3.4M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09624	−0.163%	$12.6M	$6.8M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09615	−0.256%	$2.3M	$1.3M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09628	−0.121%	$8.9M	$9.6M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09617	−0.235%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09625	−0.152%	$177K	$188K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09617	−0.237%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09593	−0.490%	$254K	$1.2M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09600	−0.412%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USDlong	+0.0100%	1h	0.09640	long leg	$126K	$1.8M	10x
SunX XPL-USDT	+0.0100%	4h	0.09600	−0.412%	$3K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09620	−0.204%	$200	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09619	−0.215%	$133K	$213K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09619	−0.218%	$605K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09620	−0.204%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09592	−0.495%	$194K	$506K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09618	−0.225%	$1.7M	$936K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0664%	1h	0.09718	+0.812%	$66K	$92K	50x	as long as short
Kraken Futures PF_XPLUSDshort	+0.2836%	1h	0.09655	+0.158%	$547K	$933K	10x