XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0160%/8h= +17.5% APRnext payment +$0.20 per $10,000 · paid last 24h +0.147%

Price spread now: Extended against Lighter+0.071%7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs+$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$390.387% of the position

Long on Lighter Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.483%+$48 on $10k

Price spread, last 4 days (all we have)−0.116%−$12 · spread now +0.071%, 7d avg +0.011%

Together, before fees+0.367%+ Points / potential airdropLighter: Season 3 · Extended: Active · farm board+$37 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Extended is 0.060% dearer against Lighter than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XPL	0.09851	−0.0056	get 0.0007% / 1h	31m 35s	$4.5M	$4.2M	10x
Short	Extended XPL-USD	0.09858	0.0104	get 0.0013% / 1h	31m 35s	$666K	$1.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Lighter. 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 LighterbpFee ExtendedbpOrdersPrice spread, now +0.071%Rate

Funding earned: $33.6
Price spread: +0.071% → +0.011%: $5.95
Slippage, 4 orders: −$33.73
Fee Lighter: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $0.82
Costs to cover: 0.387%
Break-even: 6.8 days

Slippage from Lighter: live order book, 6 min ago; Extended: live order book, 2 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 Lighter live order book, 6 min ago	3.57 bp	14.0 bp −$14	36.5 bp −$365	doesn't fit	doesn't fit
Sell Extended live order book, 2 min ago	2.03 bp	6.5 bp −$7	19.2 bp −$192	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
GMX XPL/USD [WBTC.b-USDC]	L −0.0163% / S +0.0540%	1h	0.09842	−0.092%	$113K	—	100x	as long as short
Backpack XPL_USDC_PERP	−0.0120%	1h	0.09851	0.000%	$184K	$273K	10x	as long as short
01 Exchange XPLUSD	−0.0120%	1h	0.09864	+0.132%	$573	$708	5x	as long as short
Lighter XPLlong	−0.0056%	1h	0.09851	long leg	$4.5M	$4.2M	10x
Deribit XPL_USDC-PERPETUAL	−0.0055%	1h	0.09835	−0.162%	$47K	$18K	25x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09862	+0.107%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07570	−23.151%	—	—	—	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0003%	1h	0.09840	−0.112%	$77K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0030%	4h	0.09834	−0.173%	$30K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0046%	8h	0.09860	+0.093%	$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
Nado XPL-PERP	+0.0100%	1h	0.09838	−0.132%	$1.5M	$2.6M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09866	+0.149%	$255K	$534K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09867	+0.166%	$225K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09863	+0.122%	$45.0M	$108.7M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09863	+0.122%	$47.9M	$55.7M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09861	+0.102%	$8.7M	$55.9M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09765	−0.871%	$142K	$2K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09863	+0.122%	$3.1M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09857	+0.061%	$13.0M	$7.6M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09860	+0.091%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09866	+0.152%	$8.8M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09860	+0.091%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09825	−0.264%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09827	−0.241%	$260K	$840K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09840	−0.112%	$25K	$89K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09846	−0.049%	$132K	$2.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09820	−0.315%	$3K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09840	−0.112%	$203	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09841	−0.102%	$143K	$243K	20x	as long as short
Extended XPL-USDshort	+0.0104%	1h	0.09858	+0.071%	$666K	$1.1M	25x
Aevo XPL-PERP	+0.0104%	1h	0.09835	−0.158%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0163%	1h	0.09844	−0.071%	$199K	$655K	10x	as long as short
Hyperliquid XPL	+0.0264%	1h	0.09879	+0.287%	$64.0M	$47.3M	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09832	−0.193%	$1.8M	$1.2M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0376%	1h	0.09864	+0.132%	$73K	$96K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.5030%	1h	0.09889	+0.391%	$572K	$1.0M	10x	as long as short