XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0251%/8h= +27.5% APRnext payment +$0.31 per $10,000 · paid last 24h −0.009%

Price spread now: Backpack against GMX−0.105%7-day average −0.010% · you buy dearer than you sell

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

Long on GMX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.108%−$11 on $10k

Price spread, last 3 days (all we have)+0.039%+$4 · spread now −0.105%, 7d avg −0.010%

Together, before fees−0.069%−$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.095% cheaper against GMX than usual: you would sell low and buy high (spread −0.105% now, against its 7-day average of −0.010%). If the spread goes back, that is −$9 on $10k: about 30 hours of funding at the current rate (+$8 a day). Mind the row above: over the last 3 days funding on this pair cost −0.108%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX XPL/USD [WBTC.b-USDC]	0.09803	L −0.0151% / S +0.0532%	get 0.0019% / 1h	57m 19s	$113K	—	100x
Short	Backpack XPL_USDC_PERP	0.09793	0.0100	get 0.0013% / 1h	57m 19s	$181K	$282K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against GMX. 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 GMXbpFee BackpackbpOrdersPrice spread, now −0.105%Rate

Funding earned: $52.71
Price spread: −0.105% → −0.010%: −$9.48
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: $21.23
Costs to cover: 0.220%
Break-even: 4.2 days

Slippage unknown: GMX: no order-book sample; Backpack: live order book, 16 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 GMX no order-book sample	—	—	—	—	—
Sell Backpack live order book, 16 min ago	1.03 bp	12.3 bp −$12	doesn't fit	doesn't fit	doesn't fit

GMX: 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	−0.0440%	1h	0.09781	−0.227%	$4.4M	$4.2M	10x	as long as short
01 Exchange XPLUSD	−0.0168%	1h	0.09792	−0.115%	$569	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]long	L −0.0151% / S +0.0532%	1h	0.09803	long leg	$113K	—	100x
dYdX XPL-USD	0.0000%	1h	0.09791	−0.129%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−22.777%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09792	−0.115%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09805	+0.016%	$76K	—	150x	as long as short
Paradex XPL-USD-PERP	+0.0024%	8h	0.09798	−0.049%	$13K	$2K	5x	as long as short
Orderly PERP_XPL_USDC	+0.0035%	4h	0.09789	−0.146%	$29K	$335K	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09796	−0.080%	$1.4M	$2.6M	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	0.09816	+0.131%	$63.3M	$48.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09797	−0.061%	$254K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09791	−0.125%	$223K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09802	−0.013%	$44.7M	$108.9M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09792	−0.115%	$47.5M	$55.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09790	−0.136%	$8.7M	$55.3M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09796	−0.079%	$143K	$4K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09798	−0.054%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09800	−0.034%	$12.9M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09792	−0.115%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09799	−0.044%	$8.8M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09800	−0.034%	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERPshort	+0.0100%	1h	0.09793	−0.105%	$181K	$282K	10x
Variational Omni XPL	+0.0100%	4h	0.09787	−0.164%	$1.6M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09788	−0.151%	$259K	$814K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09800	−0.034%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09809	+0.060%	$131K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09770	−0.340%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09790	−0.136%	$199	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09797	−0.064%	$142K	$242K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09792	−0.118%	$658K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09796	−0.072%	$38K	$5K	3x	as long as short
Phoenix XPL	+0.0327%	1h	0.09811	+0.079%	$199K	$655K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09795	−0.085%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09815	+0.119%	$72K	$97K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5055%	1h	0.09842	+0.395%	$569K	$1.0M	10x	as long as short