Funding you earn now, next payment 21:00 UTC+0.0308%/8h= +33.7% APRnext payment +$0.38 per $10,000 · paid last 24h +0.094%
Price spread now: Coinbase International against Backpack−0.169%7-day average +0.073% · you buy dearer than you sell
Net, funding: paid 7d − costs−$31as in the Funding arb table
Net, price: spread back to 7d avg − costs−$72as in the Price arb table
costs, in and out, $10k−$480.479% of the position
Funding, last 7 days+0.170%+$17 on $10k
+Price spread, last 3 days (all we have)+0.125%+$13 · spread now −0.169%, 7d avg +0.073%
=Funding pays, the price is against you. Coinbase International is 0.242% cheaper against Backpack than usual: you would sell low and buy high (spread −0.169% now, against its 7-day average of +0.073%). If the spread goes back, that is −$24 on $10k: about 2.6 days of funding at the current rate (+$9 a day). At the pace of the last 7 days (+0.170% in total) that is about 10.0 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.170% in total (about 8.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.38 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 | Backpack XLM_USDC_PERP | 0.2132 | 0.0100 | pay 0.0013% / 1h | 35m 57s | $102K | $222K | 20x |
| Short | Coinbase International XLM-PERP-INTX | 0.2128 | 0.0408 | get 0.0051% / 1h | 35m 57s | $228K | $1.5M | 50x |
Backpack XLM_USDC_PERP
Coinbase International XLM-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $64.68
- Price spread: −0.169% → +0.073%
- −$24.22
- Slippage, 4 orders
- −$27.91
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$7.45
- Costs to cover
- 0.479%
- Break-even
- 7.8 days
Slippage from Backpack: live order book, 52 min ago; Coinbase International: live order book, 3 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, 52 min ago | 0.23 bp | 10.4 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 3 min ago | 4.93 bp | 14.0 bp −$14 | 18.8 bp −$188 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX XLM-USD | 0.0000% | 1h | 0.2132 | +0.005% | $23K | $3K | 10x | as long as short |
| gTrade (Gains Network) XLM/USD | L 0.0000% / S +0.0002% | 1h | 0.2131 | −0.038% | $4K | — | 150x | as long as short |
| Aster XLMUSDT | +0.0100% | 8h | 0.2131 | −0.024% | $585K | $791K | 75x | as long as short |
| Binance XLMUSDT | +0.0100% | 8h | 0.2131 | −0.036% | $55.0M | $144.9M | 75x | as long as short |
| Bybit XLMUSDT | +0.0100% | 8h | 0.2130 | −0.056% | $43.4M | $40.9M | 75x | as long as short |
| OKX XLM-USDT-SWAP | +0.0100% | 8h | 0.2130 | −0.075% | $12.9M | $40.3M | 50x | as long as short |
| Gate XLM_USDT | +0.0100% | 8h | 0.2131 | −0.023% | $3.9M | $5.9M | 75x | as long as short |
| MEXC XLM_USDT | +0.0100% | 8h | 0.2131 | −0.033% | $25.1M | $25.1M | 300x | as long as short |
| KuCoin XLMUSDTM | +0.0100% | 8h | 0.2131 | −0.028% | $14.3M | $10.3M | 75x | as long as short |
| Bitget XLMUSDT | +0.0100% | 8h | 0.2131 | −0.028% | $25.7M | $17.8M | 75x | as long as short |
dYdX XLM-USD
gTrade (Gains Network) XLM/USD
Aster XLMUSDT
Binance XLMUSDT
Bybit XLMUSDT
OKX XLM-USDT-SWAP
Gate XLM_USDT
MEXC XLM_USDT
KuCoin XLMUSDTM
Bitget XLMUSDTShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX XLM-USDT | +0.0100% | 8h | 0.2131 | −0.038% | — | $6.9M | — | as long as short |
| Backpack XLM_USDC_PERPlong | +0.0100% | 1h | 0.2132 | long leg | $102K | $222K | 20x | |
| Variational Omni XLM | +0.0100% | 8h | 0.2129 | −0.145% | $206K | $1.1M | — | as long as short |
| edgeX XLMUSDC | +0.0100% | 4h | 0.2125 | −0.320% | $11K | $298K | 10x | as long as short |
| GRVT XLM_USDT_Perp | +0.0100% | 8h | 0.2128 | −0.178% | $596K | $620K | 10x | as long as short |
| ApeX Omni XLMUSDT | +0.0100% | 1h | 0.2128 | −0.160% | $171K | $255K | 50x | as long as short |
| Orderly PERP_XLM_USDC_mythos | +0.0100% | 4h | 0.2131 | −0.028% | $3K | $2K | 10x | as long as short |
| SunX XLM-USDT | +0.0100% | 8h | 0.2129 | −0.122% | $2K | $1.7M | 20x | as long as short |
| SoDEX XLM-USD | +0.0100% | 1h | 0.2131 | −0.038% | $2K | $6K | 5x | as long as short |
| HTX XLM-USDT | +0.0100% | 8h | 0.2128 | −0.164% | $199K | $267K | 20x | as long as short |
| Phemex XLMUSDT | +0.0100% | 8h | 0.2132 | 0.000% | $8.9M | $9.0M | 50x | as long as short |
| Extended XLM-USD | +0.0104% | 1h | 0.2131 | −0.043% | $191K | $1.6M | 10x | as long as short |
| Phoenix XLM | +0.0187% | 1h | 0.2125 | −0.291% | $5K | $43K | 5x | as long as short |
| Hyperliquid XLM | +0.0209% | 1h | 0.2133 | +0.066% | $11.9M | $5.8M | 5x | as long as short |
| BloFin XLM-USDT | +0.0220% | 8h | 0.2131 | −0.009% | $2.3M | $6.2M | 75x | as long as short |
| Injective XLM/USDC PERP | +0.0249% | 1h | 0.2127 | −0.216% | $476 | $154K | 12x | as long as short |
| GMX XLM/USD [WBTC.b-USDC] | L +0.0312% / S −0.0166% | 1h | 0.2131 | −0.015% | $44K | — | 100x | as long as short |
| Coinbase International XLM-PERP-INTXshort | +0.0408% | 1h | 0.2128 | −0.169% | $228K | $1.5M | 50x | |
| Kraken Futures PF_XLMUSD | +0.0554% | 1h | 0.2131 | −0.009% | $2.6M | $2.6M | 50x | as long as short |
| Lighter XLM | +0.0624% | 1h | 0.2136 | +0.192% | $425K | $786K | 5x | as long as short |
| Deribit XLM_USDC-PERPETUAL | +0.0641% | 1h | 0.2133 | +0.084% | $529K | $168K | 25x | as long as short |
BingX XLM-USDT
Variational Omni XLM
edgeX XLMUSDC
GRVT XLM_USDT_Perp
ApeX Omni XLMUSDT
Orderly PERP_XLM_USDC_mythos
SunX XLM-USDT
SoDEX XLM-USD
HTX XLM-USDT
Phemex XLMUSDT
Extended XLM-USD
Phoenix XLM
Hyperliquid XLM
BloFin XLM-USDT
Injective XLM/USDC PERP
GMX XLM/USD [WBTC.b-USDC]
Kraken Futures PF_XLMUSD
Lighter XLM
Deribit XLM_USDC-PERPETUAL