XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0708%/8h= −77.5% APRnext payment −$0.89 per $10,000 · paid last 24h −0.240%

Price spread now: Backpack against Coinbase International+0.146%7-day average — · you sell dearer than you buy

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

Long on Coinbase International Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.034%−$3 on $10k

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Backpack is 0.146% dearer against Coinbase International than usual: you sell high and buy low (spread +0.146% now, against zero (this spread has no 7-day history yet)): +$15 on $10k if it goes back. Holding the pair costs −$21 a day in funding at the current rate, which eats that in about 17 hours. At the pace of the last 7 days (−0.034% in total) that is about 30 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.034% in total (about -1.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.89 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	Coinbase International XPL-PERP-INTX	0.09569	0.0808	pay 0.0101% / 1h	40m 58s	$64K	$91K	50x
Short	Backpack XPL_USDC_PERP	0.09583	0.0100	get 0.0013% / 1h	40m 58s	$179K	$188K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Coinbase InternationalbpFee BackpackbpOrdersPrice spread, now +0.146%Rate

Funding earned: −$148.68
Price spread: +0.146% → 0.000%: $14.63
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$154.05
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; Backpack: live order book, 62 min ago. 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 Coinbase International no order-book sample	—	—	—	—	—
Sell Backpack live order book, 62 min ago	1.04 bp	10.6 bp −$11	doesn't fit	doesn't fit	doesn't fit

Coinbase International: 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	−0.1384%	1h	0.09564	−0.052%	$4.3M	$3.2M	10x	as long as short
01 Exchange XPLUSD	−0.0480%	1h	0.09594	+0.261%	$558	$873	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0480%	1h	0.09585	+0.167%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0313% / S +0.0615%	1h	0.09584	+0.155%	$106K	—	100x	as long as short
Orderly PERP_XPL_USDC	−0.0017%	4h	0.09583	+0.146%	$30K	$246K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09610	+0.424%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.883%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09586	+0.179%	$72K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0008%	8h	0.09614	+0.469%	$12K	$696	5x	as long as short
Bybit XPLUSDT	+0.0055%	4h	0.09567	−0.021%	$45.6M	$53.7M	75x	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	0.09583	+0.146%	$1.2M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09589	+0.214%	$60.6M	$46.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09581	+0.124%	$253K	$419K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09611	+0.442%	$220K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09568	−0.010%	$43.3M	$97.9M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09569	0.000%	$7.7M	$47.8M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09577	+0.084%	$140K	$0	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09572	+0.031%	$3.0M	$3.3M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09571	+0.021%	$12.5M	$6.5M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09572	+0.031%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09579	+0.105%	$9.0M	$9.9M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09569	0.000%	—	$7.8M	—	as long as short
Backpack XPL_USDC_PERPshort	+0.0100%	1h	0.09583	+0.146%	$179K	$188K	10x
Variational Omni XPL	+0.0100%	4h	0.09576	+0.069%	$1.7M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09606	+0.391%	$255K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09610	+0.428%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09612	+0.453%	$126K	$1.8M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09590	+0.219%	$2K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09580	+0.115%	$196	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09576	+0.073%	$132K	$213K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09566	−0.030%	$601K	$1.2M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09581	+0.121%	$28K	$18K	3x	as long as short
Phoenix XPL	+0.0249%	1h	0.09605	+0.376%	$194K	$495K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09610	+0.428%	$1.7M	$930K	75x	as long as short
Coinbase International XPL-PERP-INTXlong	+0.0808%	1h	0.09569	long leg	$64K	$91K	50x
Kraken Futures PF_XPLUSD	+0.2726%	1h	0.09623	+0.563%	$546K	$930K	10x	as long as short