XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0551%/8h= +60.4% APRnext payment +$0.69 per $10,000 · paid last 24h +0.118%

Price spread now: Phoenix against GMX+0.207%65s7-day average +0.129% · you sell dearer than you buy

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

Long on GMX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.198%+$20 on $10k

Price spread, last 4 days (all we have)−0.133%−$13 · spread now +0.207%, 7d avg +0.129%

Together, before fees+0.065%+$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and Phoenix is 0.078% dearer against GMX than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.129%. The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX XPL/USD [WBTC.b-USDC]	0.09689	L −0.0304% / S +0.0610%	get 0.0038% / 1h	27m 35s	$107K	—	100x
Short	Phoenix XPL	0.09709	0.0248	get 0.0031% / 1h	27m 35s	$197K	$573K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.207%Rate

Funding earned: $115.81
Price spread: +0.207% → +0.129%: $7.83
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $104.64
Costs to cover: 0.190%
Break-even: 0.7 days

Slippage unknown: GMX: no order-book sample; Phoenix: live order book, 25 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 Phoenix live order book, 25 min ago	1.03 bp	14.8 bp −$15	48.1 bp −$481	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
01 Exchange XPLUSD	−0.0368%	1h	0.09672	−0.174%	$562	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]long	L −0.0304% / S +0.0610%	1h	0.09689	long leg	$107K	—	100x
Backpack XPL_USDC_PERP	−0.0070%	1h	0.09689	+0.001%	$176K	$188K	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0060%	1h	0.09686	−0.030%	$46K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09690	+0.007%	$9K	$585	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.861%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09689	+0.001%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0012%	4h	0.09682	−0.071%	$29K	$339K	10x	as long as short
Bybit XPLUSDT	+0.0028%	4h	0.09677	−0.123%	$45.8M	$54.1M	75x	as long as short
Paradex XPL-USD-PERP	+0.0063%	8h	0.09679	−0.103%	$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
Lighter XPL	+0.0096%	1h	0.09673	−0.164%	$4.4M	$3.0M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09698	+0.093%	$61.5M	$46.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09689	−0.002%	$252K	$424K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09686	−0.033%	$222K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09679	−0.102%	$44.0M	$101.0M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09679	−0.102%	$8.2M	$48.8M	50x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09680	−0.092%	$3.1M	$3.5M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09678	−0.112%	$12.7M	$7.0M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09687	−0.020%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09690	+0.011%	$9.0M	$9.6M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09677	−0.123%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09720	+0.319%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09690	+0.010%	$262K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09730	+0.424%	$25K	$78K	50x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09689	+0.001%	$1.2M	$2.4M	10x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09695	+0.061%	$129K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09670	−0.195%	$2K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09690	+0.011%	$201	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09688	−0.009%	$142K	$191K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09680	−0.092%	$141K	$5K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09675	−0.147%	$657K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09682	−0.066%	$29K	$18K	3x	as long as short
Phoenix XPLshort	+0.0248%	1h	0.09709	+0.207%	$197K	$573K	10x
BloFin XPL-USDT	+0.0340%	4h	0.09684	−0.051%	$1.7M	$964K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0640%	1h	0.09722	+0.342%	$75K	$76K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3099%	1h	0.09719	+0.312%	$553K	$990K	10x	as long as short