XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0366%/8h= +40.0% APRnext payment +$0.46 per $10,000 · paid last 24h +0.062%

Price spread now: Phoenix against Extended+0.141%7-day average +0.202% · you sell dearer than you buy

Net, funding: paid 7d − costs$0as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$440.444% of the position

Long on Extended Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.447%+$45 on $10k

Price spread, last 4 days (all we have)+0.389%+$39 · spread now +0.141%, 7d avg +0.202%

Together, before fees+0.835%+ Points / potential airdropExtended: Active · farm board+$84 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.061% cheaper against Extended than usual: you would sell low and buy high (spread +0.141% now, against its 7-day average of +0.202%). If the spread goes back, that is −$6 on $10k: about 13 hours of funding at the current rate (+$11 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XPL-USD	0.09495	−0.0200	get 0.0025% / 1h	19m 12s	$601K	$1.2M	25x
Short	Phoenix XPL	0.09508	0.0166	get 0.0021% / 1h	19m 12s	$192K	$474K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.141%Rate

Funding earned: $76.81
Price spread: +0.141% → +0.202%: −$6.14
Slippage, 4 orders: −$32.37
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $26.3
Costs to cover: 0.444%
Break-even: 4.6 days

Slippage from Extended: live order book, 2 min ago; Phoenix: live order book, 31 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	2.11 bp	6.4 bp −$6	18.7 bp −$187	doesn't fit	doesn't fit
Sell Phoenix live order book, 31 min ago	1.05 bp	15.1 bp −$15	48.3 bp −$483	doesn't fit	doesn't fit

XPL on 36 exchanges

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	−0.0968%	1h	0.09489	−0.059%	$4.3M	$3.1M	10x	as long as short
01 Exchange XPLUSD	−0.0536%	1h	0.09488	−0.070%	$552	$873	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0381%	1h	0.09499	+0.046%	$47K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0377% / S +0.0654%	1h	0.09506	+0.115%	$105K	—	100x	as long as short
Bybit XPLUSDT	−0.0303%	4h	0.09495	+0.004%	$44.8M	$53.2M	75x	as long as short
Extended XPL-USDlong	−0.0200%	1h	0.09495	long leg	$601K	$1.2M	25x
Paradex XPL-USD-PERP	−0.0139%	8h	0.09493	−0.018%	$12K	$696	5x	as long as short
OKX XPL-USDT-SWAP	−0.0098%	4h	0.09499	+0.046%	$7.6M	$47.1M	50x	as long as short
Orderly PERP_XPL_USDC	−0.0068%	4h	0.09495	+0.004%	$30K	$195K	10x	as long as short
Gate XPL_USDT	−0.0042%	4h	0.09499	+0.046%	$2.9M	$3.4M	75x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX XPL-USD	0.0000%	1h	0.09508	+0.142%	$9K	$600	5x	as long as short
MEXC XPL_USDT	0.0000%	4h	0.09497	+0.025%	$13.4M	$6.5M	100x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.263%	—	—	—	as long as short
Binance XPLUSDT	+0.0001%	4h	0.09497	+0.025%	$43.5M	$96.7M	75x	as long as short
BloFin XPL-USDT	+0.0005%	4h	0.09492	−0.027%	$1.7M	$804K	75x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09507	+0.134%	$72K	—	150x	as long as short
Aevo XPL-PERP	+0.0080%	1h	0.09492	−0.026%	$28K	$18K	3x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09498	+0.036%	$1.2M	$2.2M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09514	+0.203%	$60.3M	$42.9M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09506	+0.117%	$253K	$379K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09505	+0.111%	$218K	$45K	10x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09507	+0.131%	$2.4M	$1.3M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09507	+0.131%	$8.9M	$10.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09498	+0.036%	—	$7.7M	—	as long as short
Backpack XPL_USDC_PERP	+0.0100%	1h	0.09503	+0.088%	$179K	$172K	10x	as long as short
Variational Omni XPL	+0.0100%	4h	0.09496	+0.010%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09508	+0.144%	$253K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09510	+0.162%	$25K	$68K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09508	+0.141%	$125K	$1.4M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09490	−0.048%	$3K	$1.5M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09490	−0.048%	$178	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09503	+0.088%	$132K	$211K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09515	+0.215%	$139K	$5K	10x	as long as short
Phoenix XPLshort	+0.0166%	1h	0.09508	+0.141%	$192K	$474K	10x
Coinbase International XPL-PERP-INTX	+0.0648%	1h	0.09736	+2.542%	$65K	$95K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.1852%	1h	0.09524	+0.310%	$542K	$984K	10x	as long as short