XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.3007%/8h= −329.3% APRnext payment −$3.76 per $10,000 · paid last 24h −0.547%

Price spread now: Extended against Kraken Futures−0.358%7-day average −0.142% · you buy dearer than you sell

Net, funding: paid 7d − costs−$118as in the Funding arb table

Net, price: spread back to 7d avg − costs−$105as in the Price arb table

costs, in and out, $10k−$830.830% of the position

Long on Kraken Futures Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.355%−$36 on $10k

Price spread, last 4 days (all we have)+0.479%+$48 · spread now −0.358%, 7d avg −0.142%

Together, before fees+0.124%+ Points / potential airdropExtended: Active · farm board+$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$90 a day on $10k at the current rate, and Extended is 0.216% cheaper against Kraken Futures than usual: you would sell low and buy high (−$22 if the spread goes back to its 7-day average of −0.142%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.355% in total (about -18.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.76 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XPLUSD	0.09681	0.3111	pay 0.0389% / 1h	22m 06s	$550K	$990K	10x
Short	Extended XPL-USD	0.09646	0.0104	get 0.0013% / 1h	22m 06s	$653K	$1.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Kraken Futures. 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 Kraken FuturesbpFee ExtendedbpOrdersPrice spread, now −0.358%Rate

Funding earned: −$631.52
Price spread: −0.358% → −0.142%: −$21.64
Slippage, 4 orders: −$67.97
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$736.13
Costs to cover: 0.830%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 26 min ago; Extended: live order book, 1 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 Kraken Futures live order book, 26 min ago	27.78 bp	32.8 bp −$33	635.2 bp −$6,352	doesn't fit	doesn't fit
Sell Extended live order book, 1 min ago	2.59 bp	7.9 bp −$8	21.9 bp −$219	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	−0.0376%	1h	0.09634	−0.481%	$560	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0304% / S +0.0610%	1h	0.09656	−0.252%	$106K	—	100x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0164%	1h	0.09651	−0.305%	$46K	$18K	25x	as long as short
Backpack XPL_USDC_PERP	−0.0114%	1h	0.09654	−0.274%	$176K	$189K	10x	as long as short
Bybit XPLUSDT	−0.0028%	4h	0.09646	−0.357%	$45.7M	$54.0M	75x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09649	−0.329%	$9K	$585	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.793%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09658	−0.228%	$73K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0012%	4h	0.09649	−0.326%	$29K	$339K	10x	as long as short
Paradex XPL-USD-PERP	+0.0058%	8h	0.09640	−0.420%	$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	+0.0072%	1h	0.09642	−0.398%	$4.4M	$3.0M	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09648	−0.336%	$1.2M	$2.4M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09667	−0.145%	$61.3M	$46.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09657	−0.242%	$252K	$422K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09648	−0.333%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09648	−0.341%	$43.8M	$100.8M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09647	−0.347%	$8.2M	$48.5M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09656	−0.253%	$141K	$5K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09649	−0.326%	$3.1M	$3.5M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09651	−0.305%	$12.7M	$7.1M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09657	−0.243%	$2.3M	$1.4M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09661	−0.202%	$9.0M	$9.6M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09649	−0.326%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09668	−0.133%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09666	−0.149%	$258K	$1.1M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09680	−0.006%	$25K	$78K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09661	−0.204%	$128K	$2.0M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09640	−0.419%	$2K	$1.7M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09650	−0.316%	$199	$12K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09657	−0.243%	$141K	$186K	20x	as long as short
Extended XPL-USDshort	+0.0104%	1h	0.09646	−0.358%	$653K	$1.1M	25x
Aevo XPL-PERP	+0.0104%	1h	0.09646	−0.355%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09682	+0.015%	$196K	$573K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09658	−0.233%	$1.7M	$961K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0640%	1h	0.09685	+0.046%	$75K	$76K	50x	as long as short
Kraken Futures PF_XPLUSDlong	+0.3111%	1h	0.09681	long leg	$550K	$990K	10x