XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0012%/8h= −1.3% APRnext payment −$0.01 per $10,000 · paid last 24h −0.145%

Price spread now: Lighter against Pacifica−0.127%7-day average −0.091% · you buy dearer than you sell

Net, funding: paid 7d − costs−$120as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$670.672% of the position

Long on Pacifica Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.526%−$53 on $10k

Price spread, last 4 days (all we have)−0.025%−$3 · spread now −0.127%, 7d avg −0.091%

Together, before fees−0.552%+ Points / potential airdropPacifica: Active · Lighter: Season 3 · farm board−$55 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Lighter is 0.036% cheaper against Pacifica than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.091%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica XPL	0.09621	0.0100	pay 0.0013% / 1h	32m 40s	$220K	$48K	10x
Short	Lighter XPL	0.09609	0.0088	get 0.0011% / 1h	32m 40s	$4.3M	$4.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Pacifica. 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 PacificabpFee LighterbpOrdersPrice spread, now −0.127%Rate

Funding earned: −$2.52
Price spread: −0.127% → −0.091%: −$3.62
Slippage, 4 orders: −$59.18
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$73.32
Costs to cover: 0.672%
Break-even: never at this rate

Slippage from Pacifica: live order book, 30 min ago; Lighter: live order book, 5 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 Pacifica live order book, 30 min ago	10.35 bp	22.9 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	4.17 bp	18.5 bp −$18	38.7 bp −$387	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
Backpack XPL_USDC_PERP	−0.0500%	1h	0.09621	−0.002%	$181K	$243K	10x	as long as short
01 Exchange XPLUSD	−0.0432%	1h	0.09615	−0.064%	$559	$708	5x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0253% / S +0.0579%	1h	0.09612	−0.099%	$106K	—	100x	as long as short
Orderly PERP_XPL_USDC	−0.0005%	4h	0.09612	−0.096%	$29K	$335K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09618	−0.032%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.311%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09615	−0.064%	$46K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09610	−0.112%	$72K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0041%	4h	0.09615	−0.064%	$8.3M	$53.0M	50x	as long as short
Bybit XPLUSDT	+0.0050%	4h	0.09608	−0.137%	$45.5M	$56.8M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPL-USD-PERP	+0.0058%	8h	0.09615	−0.062%	$12K	$2K	5x	as long as short
Gate XPL_USDT	+0.0066%	4h	0.09613	−0.085%	$3.0M	$3.8M	75x	as long as short
Lighter XPLshort	+0.0088%	1h	0.09609	−0.127%	$4.3M	$4.2M	10x
Nado XPL-PERP	+0.0100%	1h	0.09609	−0.122%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09630	+0.087%	$60.5M	$48.1M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09621	+0.002%	$244K	$501K	20x	as long as short
Pacifica XPLlong	+0.0100%	1h	0.09621	long leg	$220K	$48K	10x
Binance XPLUSDT	+0.0100%	4h	0.09617	−0.044%	$43.5M	$108.7M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09615	−0.064%	$12.4M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09604	−0.179%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09617	−0.044%	$8.5M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09613	−0.085%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09612	−0.100%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09619	−0.025%	$256K	$912K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09630	+0.091%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09618	−0.033%	$128K	$2.6M	10x	as long as short
SunX XPL-USDT	+0.0100%	4h	0.09590	−0.324%	$3K	$1.9M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09620	−0.012%	$2K	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09624	+0.029%	$145K	$264K	20x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09615	−0.064%	$140K	$7K	10x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09613	−0.088%	$633K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09615	−0.064%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09617	−0.044%	$195K	$629K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09612	−0.096%	$1.7M	$1.0M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0672%	1h	0.09640	+0.195%	$74K	$93K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3563%	1h	0.09647	+0.267%	$547K	$1.0M	10x	as long as short