Funding arb · Price arb /

XLM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.001%

Price spread now: ApeX Omni against Backpack+0.174%84s7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$470.467% of the position

Long on Backpack Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.004%$0 on $10k

Price spread, last 4 days (all we have)−0.068%−$7 · spread now +0.174%, 7d avg +0.015%

Together, before fees−0.064%−$6 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.159% dearer against Backpack than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of +0.015%. The two prices were read 84 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack XLM_USDC_PERP	0.2124	0.0100	pay 0.0013% / 1h	40m 12s	$93K	$270K	20x
Short	ApeX Omni XLMUSDT	0.2127	0.0100	get 0.0013% / 1h	40m 12s	$170K	$256K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Backpack. 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 BackpackbpFee ApeX OmnibpOrdersPrice spread, now +0.174%Rate

Funding earned: $0
Price spread: +0.174% → +0.015%: $15.93
Slippage, 4 orders: −$26.72
Fee Backpack: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$30.8
Costs to cover: 0.467%
Break-even: never at this rate

Slippage from Backpack: live order book, 23 min ago; ApeX Omni: live order book, 21 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 Backpack live order book, 23 min ago	0.24 bp	10.5 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 21 min ago	6.13 bp	14.5 bp −$14	93.2 bp −$932	doesn't fit	doesn't fit

XLM on 31 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
gTrade (Gains Network) XLM/USD	L 0.0000% / S +0.0002%	1h	0.2123	−0.028%	$4K	—	150x	as long as short
Lighter XLM	+0.0096%	1h	0.2126	+0.099%	$357K	$901K	5x	as long as short
Binance XLMUSDT	+0.0100%	8h	0.2124	+0.013%	$54.4M	$153.4M	75x	as long as short
Bybit XLMUSDT	+0.0100%	8h	0.2123	−0.024%	$43.0M	$45.6M	75x	as long as short
OKX XLM-USDT-SWAP	+0.0100%	8h	0.2123	−0.019%	$12.6M	$41.7M	50x	as long as short
Gate XLM_USDT	+0.0100%	8h	0.2123	−0.005%	$4.1M	$6.7M	75x	as long as short
MEXC XLM_USDT	+0.0100%	8h	0.2124	+0.014%	$23.8M	$26.8M	300x	as long as short
KuCoin XLMUSDTM	+0.0100%	8h	0.2123	−0.005%	$14.0M	$9.9M	75x	as long as short
Bitget XLMUSDT	+0.0100%	8h	0.2124	+0.005%	$25.5M	$20.8M	75x	as long as short
BingX XLM-USDT	+0.0100%	8h	0.2124	+0.005%	—	$7.0M	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Backpack XLM_USDC_PERPlong	+0.0100%	1h	0.2124	long leg	$93K	$270K	20x
Variational Omni XLM	+0.0100%	8h	0.2122	−0.067%	$254K	$1.3M	—	as long as short
edgeX XLMUSDC	+0.0100%	4h	0.2124	+0.039%	$12K	$302K	10x	as long as short
GRVT XLM_USDT_Perp	+0.0100%	8h	0.2128	+0.202%	$589K	$598K	10x	as long as short
ApeX Omni XLMUSDTshort	+0.0100%	1h	0.2127	+0.174%	$170K	$256K	50x
Orderly PERP_XLM_USDC_mythos	+0.0100%	4h	0.2124	+0.024%	$3K	$2K	10x	as long as short
SunX XLM-USDT	+0.0100%	8h	0.2123	−0.033%	$2K	$1.6M	20x	as long as short
SoDEX XLM-USD	+0.0100%	1h	0.2124	+0.014%	$2K	$6K	5x	as long as short
HTX XLM-USDT	+0.0100%	8h	0.2124	+0.009%	$196K	$252K	20x	as long as short
Phemex XLMUSDT	+0.0100%	8h	0.2123	−0.005%	$8.9M	$8.9M	50x	as long as short
Extended XLM-USD	+0.0104%	1h	0.2123	−0.010%	$189K	$1.8M	10x	as long as short
Aster XLMUSDT	+0.0108%	8h	0.2124	+0.033%	$565K	$624K	75x	as long as short
dYdX XLM-USD	+0.0219%	1h	0.2122	−0.079%	$23K	$2K	10x	as long as short
BloFin XLM-USDT	+0.0220%	8h	0.2122	−0.066%	$2.3M	$4.9M	75x	as long as short
Phoenix XLM	+0.0264%	1h	0.2128	+0.198%	$5K	$46K	5x	as long as short
Hyperliquid XLM	+0.0452%	1h	0.2125	+0.094%	$12.3M	$6.2M	5x	as long as short
Kraken Futures PF_XLMUSD	+0.0463%	1h	0.2123	−0.032%	$2.6M	$2.7M	50x	as long as short
Coinbase International XLM-PERP-INTX	+0.0464%	1h	0.2126	+0.132%	$232K	$1.5M	50x	as long as short
GMX XLM/USD [WBTC.b-USDC]	L +0.0517% / S −0.0193%	1h	0.2123	−0.031%	$44K	—	100x	as long as short
Deribit XLM_USDC-PERPETUAL	+0.0692%	1h	0.2125	+0.071%	$527K	$153K	25x	as long as short
Injective XLM/USDC PERP	+0.1081%	1h	0.2125	+0.071%	$683	$241K	12x	as long as short