XPL

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.4484%/8h= +491.0% APRnext payment +$5.60 per $10,000 · paid last 24h +0.288%

Price spread now: Kraken Futures against Polymarket Perps+0.551%7-day average −0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$820.825% of the position

Long on Polymarket Perps Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.043%+$4 on $10k

Price spread, last 3 days (all we have)−0.785%−$79 · spread now +0.551%, 7d avg −0.009%

Together, before fees−0.742%−$74 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$135 a day on $10k at the current rate, and Kraken Futures is 0.560% dearer against Polymarket Perps than usual: you sell high and buy low: +$56 more if the spread goes back to its 7-day average of −0.009%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.043% in total (about 2.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$5.60 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	Polymarket Perps XPL-USD	0.09740	0.0100	pay 0.0013% / 1h	5m 44s	$129K	$2.7M	10x
Short	Kraken Futures PF_XPLUSD	0.09793	0.4584	get 0.0573% / 1h	5m 44s	$563K	$998K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Polymarket Perps. 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 Polymarket PerpsbpFee Kraken FuturesbpOrdersPrice spread, now +0.551%Rate

Funding earned: $941.61
Price spread: +0.551% → −0.009%: $55.95
Slippage, 4 orders: −$64.45
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $915.12
Costs to cover: 0.825%
Break-even: 0.2 days

Slippage from Polymarket Perps: live order book, 3 min ago; Kraken Futures: live order book, 13 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 Polymarket Perps live order book, 3 min ago	2.62 bp	6.7 bp −$7	6.9 bp −$69	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 13 min ago	16.91 bp	27.6 bp −$28	340.1 bp −$3,401	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	−0.0269%	1h	0.09741	+0.014%	$177K	$280K	10x	as long as short
01 Exchange XPLUSD	−0.0208%	1h	0.09725	−0.150%	$565	$708	5x	as long as short
Lighter XPL	−0.0200%	1h	0.09718	−0.222%	$4.4M	$4.1M	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0117% / S +0.0510%	1h	0.09739	−0.007%	$112K	—	100x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09720	−0.204%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−22.271%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09743	+0.035%	$47K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09742	+0.029%	$72K	—	150x	as long as short
Orderly PERP_XPL_USDC	+0.0070%	4h	0.09740	+0.004%	$29K	$335K	10x	as long as short
Paradex XPL-USD-PERP	+0.0086%	8h	0.09723	−0.170%	$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	0.09725	−0.150%	$1.4M	$2.6M	10x	as long as short
Hyperliquid XPL	+0.0100%	1h	0.09742	+0.021%	$63.0M	$47.7M	10x	as long as short
Aster XPLUSDT	+0.0100%	4h	0.09735	−0.045%	$252K	$527K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09727	−0.133%	$221K	$46K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09726	−0.140%	$44.0M	$107.1M	75x	as long as short
Bybit XPLUSDT	+0.0100%	4h	0.09729	−0.109%	$47.9M	$54.9M	75x	as long as short
OKX XPL-USDT-SWAP	+0.0100%	4h	0.09721	−0.191%	$8.9M	$54.0M	50x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09714	−0.260%	$142K	$9K	10x	as long as short
Gate XPL_USDT	+0.0100%	4h	0.09732	−0.078%	$3.0M	$4.0M	75x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09725	−0.150%	$12.5M	$7.7M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09731	−0.088%	$2.4M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09732	−0.078%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09725	−0.150%	—	$7.9M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09707	−0.333%	$1.7M	$1.9M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09725	−0.153%	$259K	$787K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09740	+0.004%	$25K	$88K	50x	as long as short
Polymarket Perps XPL-USDlong	+0.0100%	1h	0.09740	long leg	$129K	$2.7M	10x
SunX XPL-USDT	+0.0100%	4h	0.09710	−0.304%	$2K	$2.0M	20x	as long as short
SoDEX XPL-USD	+0.0100%	1h	0.09740	+0.004%	$448	$10K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09716	−0.242%	$138K	$246K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09723	−0.176%	$653K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09743	+0.039%	$38K	$5K	3x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09719	−0.212%	$1.7M	$1.1M	75x	as long as short
Phoenix XPL	+0.0412%	1h	0.09727	−0.129%	$197K	$652K	10x	as long as short
Coinbase International XPL-PERP-INTX	+0.0792%	1h	0.09760	+0.209%	$72K	$104K	50x	as long as short
Kraken Futures PF_XPLUSDshort	+0.4584%	1h	0.09793	+0.551%	$563K	$998K	10x