XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h −0.027%

Price spread now: Backpack against Extended−0.184%7-day average +0.069% · you buy dearer than you sell

Net, funding: paid 7d − costs−$26as in the Funding arb table

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

costs, in and out, $10k−$360.363% of the position

Long on Extended Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.101%+$10 on $10k

Price spread, last 4 days (all we have)+0.572%+$57 · spread now −0.184%, 7d avg +0.069%

Together, before fees+0.674%+ Points / potential airdropExtended: Active · farm board+$67 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.253% cheaper against Extended than usual: you would sell low and buy high, −$25 on $10k if it goes back to its 7-day average of +0.069%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XPL-USD	0.09920	0.0104	pay 0.0013% / 1h	10m 53s	$673K	$1.1M	25x
Short	Backpack XPL_USDC_PERP	0.09902	0.0100	get 0.0013% / 1h	10m 53s	$185K	$254K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Extended. 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 ExtendedbpFee BackpackbpOrdersPrice spread, now −0.184%Rate

Funding earned: −$0.84
Price spread: −0.184% → +0.069%: −$25.33
Slippage, 4 orders: −$21.26
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$62.43
Costs to cover: 0.363%
Break-even: never at this rate

Slippage from Extended: live order book, 2 min ago; Backpack: live order book, 62 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 Extended live order book, 2 min ago	3.53 bp	8.0 bp −$8	19.6 bp −$196	doesn't fit	doesn't fit
Sell Backpack live order book, 62 min ago	1.03 bp	12.3 bp −$12	doesn't fit	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
01 Exchange XPLUSD	−0.0208%	1h	0.09895	−0.255%	$575	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0173% / S +0.0547%	1h	0.09904	−0.159%	$114K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0053%	1h	0.09904	−0.164%	$47K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09915	−0.049%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−23.686%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09904	−0.160%	$77K	—	150x	as long as short
Lighter XPL	+0.0008%	1h	0.09891	−0.295%	$4.5M	$4.2M	10x	as long as short
Orderly PERP_XPL_USDC	+0.0019%	4h	0.09899	−0.214%	$30K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0045%	8h	0.09907	−0.131%	$13K	$2K	5x	as long as short
OKX XPL-USDT-SWAP	+0.0085%	4h	0.09924	+0.038%	$8.8M	$56.2M	50x	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	0.09902	−0.179%	$1.5M	$2.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09907	−0.133%	$256K	$539K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09910	−0.109%	$225K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09930	+0.098%	$45.5M	$109.0M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09927	+0.068%	$48.2M	$56.0M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09870	−0.507%	$144K	$2K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09921	+0.007%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09922	+0.017%	$13.2M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09911	−0.093%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09934	+0.138%	$8.9M	$11.2M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09929	+0.088%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERPshort	+0.0100%	1h	0.09902	−0.184%	$185K	$254K	10x
Variational Omni XPL	+0.0100%	4h	0.09896	−0.246%	$1.8M	$2.0M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09903	−0.174%	$263K	$844K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09940	+0.199%	$26K	$89K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09910	−0.108%	$133K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09880	−0.406%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09900	−0.204%	$498	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09913	−0.073%	$143K	$243K	20x	as long as short
Extended XPL-USDlong	+0.0104%	1h	0.09920	long leg	$673K	$1.1M	25x
Aevo XPL-PERP	+0.0104%	1h	0.09900	−0.204%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09925	+0.048%	$201K	$655K	10x	as long as short
Hyperliquid XPL	+0.0190%	1h	0.09947	+0.266%	$64.5M	$47.1M	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09898	−0.224%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09980	+0.602%	$74K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.4999%	1h	0.09951	+0.311%	$575K	$1.0M	10x	as long as short