XPL

Alert

After costs, if the gap returns to its 7d average, $10k−$30

spread now+0.103%7d average+0.051%fees + slippage, in and out−$35spread needed0.351%

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XPL	0.1017	−0.0856	get 0.0107% / 1h	44m 12s	$4.6M	$3.8M	10x
Short	Nado XPL-PERP	0.1018	0.0100	get 0.0012% / 1h	44m 12s	$1.5M	$2.2M	10x

Price spread history

latest

Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Position, each leg$Hold forhoursFee LighterbpFee NadobpOrdersClose when spread is

Spread captured: $10.33
Funding while held: $28.68
Slippage, 4 orders: −$28.15
Fee Lighter: 0 bp × 2 orders: $0
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $3.86
Spread needed to break even: 0.351%

Slippage from Lighter: live order book, 5 min ago; Nado: live order book, 1 min ago.

Cost of waiting

funding view

Funding /8h: +0.0956%
Per $10,000 a day: +$28.68
Average in range /8h: —

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, 5 min ago	1.49 bp	5.4 bp −$5	31.6 bp −$316	doesn't fit	doesn't fit
Sell Nado live order book, 1 min ago	2.45 bp	9.4 bp −$9	20.8 bp −$208	doesn't fit	doesn't fit

XPL on 34 venues

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Reya XPLRUSDPERP	−25.534%	0.0000%	1h	—	—	—	as long as short
Bulk XPL-USD	−0.561%	+0.0100%	1h	$142K	$35K	10x	as long as short
ApeX Omni XPLUSDT	−0.561%	+0.0100%	1h	$30K	$84K	50x	as long as short
HTX XPL-USDT	−0.561%	+0.0100%	4h	$150K	$251K	20x	as long as short
Phoenix XPL	−0.531%	+0.0391%	1h	$219K	$528K	10x	as long as short
Variational Omni XPL	−0.494%	+0.0100%	4h	$1.8M	$1.4M	—	as long as short
SunX XPL-USDT	−0.167%	+0.0100%	4h	$3K	$1.8M	20x	as long as short
Orderly PERP_XPL_USDC	−0.079%	+0.0045%	4h	$28K	$331K	10x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.049%	−0.0143%	1h	$47K	$10K	25x	as long as short
gTrade (Gains Network) XPL/USD	−0.045%	L +0.0005% / S −0.0004%	1h	$74K	—	150x	as long as short

Show all 34 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
GMX XPL/USD [WBTC.b-USDC]	−0.027%	L −0.0034% / S +0.0448%	1h	$136K	—	100x	as long as short
Lighter XPLlong	0.000%	−0.0856%	1h	$4.6M	$3.8M	10x
BloFin XPL-USDT	+0.039%	+0.0340%	4h	$2.0M	$1.1M	75x	as long as short
Extended XPL-USD	+0.085%	+0.0104%	1h	$650K	$751K	25x	as long as short
Aevo XPL-PERP	+0.098%	+0.0104%	1h	$40K	$5K	3x	as long as short
Nado XPL-PERPshort	+0.103%	+0.0100%	1h	$1.5M	$2.2M	10x
Paradex XPL-USD-PERP	+0.113%	+0.0094%	8h	$12K	$946	5x	as long as short
SoDEX XPL-USD	+0.128%	+0.0100%	1h	$306	$9K	10x	as long as short
Pacifica XPL	+0.148%	+0.0100%	1h	$230K	$18K	10x	as long as short
Aster XPLUSDT	+0.153%	+0.0100%	4h	$310K	$401K	20x	as long as short
Polymarket Perps XPL-USD	+0.157%	+0.0100%	1h	$138K	$3.6M	10x	as long as short
dYdX XPL-USD	+0.195%	0.0000%	1h	$9K	—	5x	as long as short
Binance XPLUSDT	+0.285%	+0.0100%	4h	$47.9M	$87.0M	75x	as long as short
OKX XPL-USDT-SWAP	+0.305%	+0.0100%	4h	$10.0M	$51.4M	50x	as long as short
MEXC XPL_USDT	+0.315%	+0.0100%	4h	$14.3M	$6.8M	100x	as long as short
KuCoin XPLUSDTM	+0.325%	+0.0100%	4h	$2.8M	$1.3M	50x	as long as short
Gate XPL_USDT	+0.334%	+0.0100%	4h	$3.2M	$3.7M	75x	as long as short
BingX XPL-USDT	+0.344%	+0.0100%	4h	—	$7.9M	—	as long as short
Backpack XPL_USDC_PERP	+0.344%	−0.0457%	1h	$186K	$276K	10x	as long as short
Kraken Futures PF_XPLUSD	+0.374%	+0.0515%	1h	$140K	$383K	10x	as long as short
Bitget XPLUSDT	+0.384%	+0.0100%	4h	$9.2M	$10.0M	75x	as long as short
Bybit XPLUSDT	+0.393%	+0.0100%	4h	$50.1M	$44.0M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.403%	+0.0880%	1h	$107K	$120K	50x	as long as short
Hyperliquid XPL	+0.452%	+0.0129%	1h	$68.0M	$33.7M	10x	as long as short

XPL