XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.1428%/8h= +156.4% APRnext payment +$1.78 per $10,000 · paid last 24h +0.141%

Price spread now: Pacifica against Lighter+0.201%7-day average +0.094% · you sell dearer than you buy

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$660.663% of the position

Long on Lighter Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.533%+$53 on $10k

Price spread, last 4 days (all we have)−0.049%−$5 · spread now +0.201%, 7d avg +0.094%

Together, before fees+0.484%+ Points / potential airdropLighter: Season 3 · Pacifica: Active · farm board+$48 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$43 a day on $10k at the current rate, and Pacifica is 0.107% dearer against Lighter than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.094%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.533% in total (about 27.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.78 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	Lighter XPL	0.09534	−0.1328	get 0.0166% / 1h	48m 34s	$4.3M	$3.1M	10x
Short	Pacifica XPL	0.09553	0.0100	get 0.0013% / 1h	48m 34s	$218K	$46K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.201%Rate

Funding earned: $299.88
Price spread: +0.201% → +0.094%: $10.75
Slippage, 4 orders: −$58.32
Fee Lighter: 0 bp × 2 orders: $0
Fee Pacifica: 4 bp × 2 orders: −$8
Net: $244.31
Costs to cover: 0.663%
Break-even: 1.3 days

Slippage from Lighter: live order book, 4 min ago; Pacifica: live order book, 49 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, 4 min ago	3.67 bp	3.7 bp −$4	26.8 bp −$268	doesn't fit	doesn't fit
Sell Pacifica live order book, 49 min ago	10.47 bp	25.8 bp −$26	doesn't fit	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
Lighter XPLlong	−0.1328%	1h	0.09534	long leg	$4.3M	$3.1M	10x
01 Exchange XPLUSD	−0.0416%	1h	0.09548	+0.147%	$555	$873	5x	as long as short
Deribit XPL_USDC-PERPETUAL	−0.0378%	1h	0.09552	+0.189%	$46K	$18K	25x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0234% / S +0.0570%	1h	0.09556	+0.233%	$105K	—	100x	as long as short
Bybit XPLUSDT	−0.0122%	4h	0.09558	+0.252%	$45.5M	$54.0M	75x	as long as short
Paradex XPL-USD-PERP	−0.0079%	8h	0.09543	+0.094%	$12K	$696	5x	as long as short
Orderly PERP_XPL_USDC	−0.0027%	4h	0.09547	+0.136%	$30K	$277K	10x	as long as short
OKX XPL-USDT-SWAP	−0.0010%	4h	0.09555	+0.220%	$7.7M	$47.6M	50x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09550	+0.165%	$9K	$600	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−20.593%	—	—	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09556	+0.234%	$72K	—	150x	as long as short
Backpack XPL_USDC_PERP	+0.0069%	1h	0.09554	+0.210%	$179K	$180K	10x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09555	+0.220%	$1.3M	$2.2M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09561	+0.285%	$252K	$404K	20x	as long as short
Pacifica XPLshort	+0.0100%	1h	0.09553	+0.201%	$218K	$46K	10x
Binance XPLUSDT	+0.0100%	4h	0.09557	+0.241%	$43.4M	$97.7M	75x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09546	+0.126%	$2.9M	$3.3M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09545	+0.115%	$12.5M	$6.5M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09543	+0.094%	$2.3M	$1.2M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09568	+0.357%	$9.0M	$9.8M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09545	+0.115%	—	$7.8M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09553	+0.198%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09557	+0.239%	$256K	$1.3M	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09570	+0.378%	$25K	$75K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09564	+0.315%	$125K	$1.7M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09530	−0.042%	$3K	$1.6M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09550	+0.168%	$189	$9K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09542	+0.084%	$132K	$210K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09540	+0.067%	$139K	$0	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09542	+0.085%	$595K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09550	+0.168%	$28K	$18K	3x	as long as short
Hyperliquid XPL	+0.0106%	1h	0.09564	+0.315%	$60.5M	$46.0M	10x	as long as short
Phoenix XPL	+0.0251%	1h	0.09566	+0.336%	$194K	$494K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09549	+0.157%	$1.7M	$928K	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0536%	1h	0.09596	+0.650%	$64K	$92K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.2707%	1h	0.09580	+0.478%	$543K	$943K	10x	as long as short