Funding you earn now, next payment 00:00 UTC−0.5100%/8h= −558.5% APRnext payment −$6.38 per $10,000 · paid last 24h −0.006%
Price spread now: Injective against Backpack+0.223%72s7-day average −0.099% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.079%−$8 on $10k
+Price spread, last 3 days (all we have)−0.385%−$38 · spread now +0.223%, 7d avg −0.099%
=The price spread pays, funding is against you. Injective is 0.322% dearer against Backpack than usual: you sell high and buy low (spread +0.223% now, against its 7-day average of −0.099%): +$32 on $10k if it goes back. Holding the pair costs −$153 a day in funding at the current rate, which eats that in about 5 hours. At the pace of the last 7 days (−0.079% in total) that is about 29 days. The two prices were read 72 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.079% in total (about -4.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$6.38 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 | 0.2152 | 0.0100 | pay 0.0013% / 1h | 7m 56s | $89K | $271K | 20x |
| Short | Injective XLM/USDC PERP | 0.2157 | −0.5000 | pay 0.0625% / 1h | 7m 56s | $736 | $241K | 12x |
Backpack XLM_USDC_PERP
Injective XLM/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- −$1,071
- Price spread: +0.223% → −0.099%
- $32.17
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$1,048.85
- Costs to cover
- 0.100%
- Break-even
- from the start
Slippage unknown: Backpack: live order book, 5 min ago; Injective: no order-book sample. Net counts fees only.
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, 5 min ago | 0.23 bp | 6.2 bp −$6 | doesn't fit | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | |
|---|---|---|---|---|---|---|---|---|
| Injective XLM/USDC PERPshort | −0.5000% | 1h | 0.2157 | +0.223% | $736 | $241K | 12x | |
| gTrade (Gains Network) XLM/USD | L 0.0000% / S +0.0002% | 1h | 0.2151 | −0.046% | $4K | — | 150x | as long as short |
| dYdX XLM-USD | +0.0097% | 1h | 0.2151 | −0.049% | $23K | $3K | 10x | as long as short |
| Aster XLMUSDT | +0.0100% | 8h | 0.2155 | +0.129% | $578K | $752K | 75x | as long as short |
| Binance XLMUSDT | +0.0100% | 8h | 0.2152 | −0.009% | $55.6M | $150.7M | 75x | as long as short |
| Bybit XLMUSDT | +0.0100% | 8h | 0.2151 | −0.060% | $43.6M | $44.0M | 75x | as long as short |
| OKX XLM-USDT-SWAP | +0.0100% | 8h | 0.2150 | −0.088% | $13.0M | $41.6M | 50x | as long as short |
| Gate XLM_USDT | +0.0100% | 8h | 0.2152 | −0.033% | $4.1M | $6.3M | 75x | as long as short |
| MEXC XLM_USDT | +0.0100% | 8h | 0.2151 | −0.037% | $25.1M | $26.5M | 300x | as long as short |
| KuCoin XLMUSDTM | +0.0100% | 8h | 0.2151 | −0.060% | $14.4M | $10.4M | 75x | as long as short |
gTrade (Gains Network) XLM/USD
dYdX XLM-USD
Aster XLMUSDT
Binance XLMUSDT
Bybit XLMUSDT
OKX XLM-USDT-SWAP
Gate XLM_USDT
MEXC XLM_USDT
KuCoin XLMUSDTMShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget XLMUSDT | +0.0100% | 8h | 0.2151 | −0.056% | $25.5M | $19.3M | 75x | as long as short |
| BingX XLM-USDC | +0.0100% | 8h | 0.2152 | −0.019% | — | $6.7M | — | as long as short |
| Backpack XLM_USDC_PERPlong | +0.0100% | 1h | 0.2152 | long leg | $89K | $271K | 20x | |
| Variational Omni XLM | +0.0100% | 8h | 0.2149 | −0.140% | $253K | $1.3M | — | as long as short |
| edgeX XLMUSDC | +0.0100% | 4h | 0.2150 | −0.089% | $12K | $300K | 10x | as long as short |
| GRVT XLM_USDT_Perp | +0.0100% | 8h | 0.2152 | −0.019% | $595K | $604K | 10x | as long as short |
| ApeX Omni XLMUSDT | +0.0100% | 1h | 0.2150 | −0.093% | $172K | $257K | 50x | as long as short |
| Orderly PERP_XLM_USDC_mythos | +0.0100% | 4h | 0.2152 | −0.009% | $3K | $2K | 10x | as long as short |
| SunX XLM-USDT | +0.0100% | 8h | 0.2154 | +0.074% | $2K | $1.7M | 20x | as long as short |
| SoDEX XLM-USD | +0.0100% | 1h | 0.2152 | −0.028% | $2K | $6K | 5x | as long as short |
| HTX XLM-USDT | +0.0100% | 8h | 0.2151 | −0.065% | $198K | $261K | 20x | as long as short |
| Phemex XLMUSDT | +0.0100% | 8h | 0.2152 | +0.009% | $9.0M | $9.1M | 50x | as long as short |
| Extended XLM-USD | +0.0104% | 1h | 0.2151 | −0.076% | $193K | $1.6M | 10x | as long as short |
| Lighter XLM | +0.0200% | 1h | 0.2155 | +0.116% | $399K | $832K | 5x | as long as short |
| BloFin XLM-USDT | +0.0220% | 8h | 0.2152 | −0.014% | $2.3M | $5.5M | 75x | as long as short |
| Phoenix XLM | +0.0222% | 1h | 0.2151 | −0.065% | $5K | $42K | 5x | as long as short |
| GMX XLM/USD [WBTC.b-USDC] | L +0.0315% / S −0.0167% | 1h | 0.2151 | −0.056% | $45K | — | 100x | as long as short |
| Hyperliquid XLM | +0.0338% | 1h | 0.2153 | +0.051% | $12.3M | $6.1M | 5x | as long as short |
| Kraken Futures PF_XLMUSD | +0.0414% | 1h | 0.2152 | +0.011% | $2.6M | $2.6M | 50x | as long as short |
| Coinbase International XLM-PERP-INTX | +0.0448% | 1h | 0.2153 | +0.051% | $229K | $1.5M | 50x | as long as short |
| Deribit XLM_USDC-PERPETUAL | +0.0819% | 1h | 0.2153 | +0.056% | $534K | $161K | 25x | as long as short |
Bitget XLMUSDT
BingX XLM-USDC
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
Lighter XLM
BloFin XLM-USDT
Phoenix XLM
GMX XLM/USD [WBTC.b-USDC]
Hyperliquid XLM
Kraken Futures PF_XLMUSD
Coinbase International XLM-PERP-INTX
Deribit XLM_USDC-PERPETUAL