XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0013%/8h= −1.4% APRnext payment −$0.02 per $10,000 · paid last 24h −0.073%

Price spread now: Lighter against Deribit−0.021%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Lighter

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—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Lighter is 0.021% cheaper against Deribit than usual: you would sell low and buy high (−$2 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit XPL_USDC-PERPETUAL	0.09698	−0.0059	get 0.0007% / 1h	3m 46s	$46K	$18K	25x
Short	Lighter XPL	0.09696	−0.0072	pay 0.0009% / 1h	3m 46s	$4.4M	$4.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Deribit. 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 DeribitbpFee LighterbpOrdersPrice spread, now −0.021%Rate

Funding earned: −$2.68
Price spread: −0.021% → 0.000%: −$2.06
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$11.74
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Deribit: no order-book sample; Lighter: live order book, 4 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 Deribit no order-book sample	—	—	—	—	—
Sell Lighter live order book, 4 min ago	3.62 bp	7.6 bp −$8	24.5 bp −$245	doesn't fit	doesn't fit

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
Backpack XPL_USDC_PERP	−0.0105%	1h	0.09701	+0.031%	$177K	$283K	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0089% / S +0.0492%	1h	0.09696	−0.020%	$112K	—	100x	as long as short
Lighter XPLshort	−0.0072%	1h	0.09696	−0.021%	$4.4M	$4.3M	10x
01 Exchange XPLUSD	−0.0072%	1h	0.09690	−0.082%	$563	$708	5x	as long as short
Deribit XPL_USDC-PERPETUALlong	−0.0059%	1h	0.09698	long leg	$46K	$18K	25x
dYdX XPL-USD	0.0000%	1h	0.09705	+0.073%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.937%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09696	−0.021%	$71K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0082%	4h	0.09693	−0.052%	$27K	$333K	10x	as long as short
Paradex XPL-USD-PERP	+0.0090%	8h	0.09709	+0.111%	$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	0.09698	0.000%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09719	+0.220%	$62.4M	$47.3M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09706	+0.079%	$251K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09709	+0.111%	$220K	$45K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09708	+0.101%	$43.7M	$105.5M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09705	+0.072%	$47.3M	$53.6M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09705	+0.072%	$9.0M	$53.2M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09699	+0.010%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09707	+0.093%	$12.7M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09700	+0.021%	$2.4M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09715	+0.175%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09705	+0.072%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09662	−0.371%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09704	+0.060%	$262K	$775K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09700	+0.021%	$25K	$87K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09701	+0.031%	$129K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09670	−0.289%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09700	+0.021%	$202	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09686	−0.124%	$137K	$246K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09695	−0.031%	$140K	$11K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09704	+0.066%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09696	−0.019%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09692	−0.062%	$1.7M	$1.2M	75x	as long as short
Phoenix XPL	+0.0485%	1h	0.09705	+0.072%	$196K	$646K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0824%	1h	0.09719	+0.217%	$73K	$102K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3511%	1h	0.09741	+0.439%	$513K	$948K	10x	as long as short