XLM

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0313%/8h= +34.3% APRnext payment +$0.39 per $10,000 · paid last 24h +0.040%

Price spread now: Kraken Futures against Backpack+0.056%7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$440.443% of the position

Long on Backpack Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.181%−$18 on $10k

Price spread, last 3 days (all we have)−0.064%−$6 · spread now +0.056%, 7d avg +0.015%

Together, before fees−0.245%−$25 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Kraken Futures is 0.040% dearer against Backpack than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.015%. Mind the row above: over the last 7 days funding on this pair cost −0.181%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.181% in total (about -9.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.39 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	0.2156	0.0100	pay 0.0013% / 1h	0m 49s	$89K	$271K	20x
Short	Kraken Futures PF_XLMUSD	0.2157	0.0413	get 0.0052% / 1h	0m 49s	$2.6M	$2.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.056%Rate

Funding earned: $65.8
Price spread: +0.056% → +0.015%: $4.04
Slippage, 4 orders: −$24.28
Fee Backpack: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $25.56
Costs to cover: 0.443%
Break-even: 4.3 days

Slippage from Backpack: live order book, 12 min ago; Kraken Futures: 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, 12 min ago	0.23 bp	6.2 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 3 min ago	3.25 bp	14.7 bp −$15	28.9 bp −$289	131.9 bp −$13.2K	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
Injective XLM/USDC PERP	−0.5000%	1h	0.2157	+0.051%	$736	$241K	12x	as long as short
gTrade (Gains Network) XLM/USD	L 0.0000% / S +0.0002%	1h	0.2154	−0.091%	$4K	—	150x	as long as short
dYdX XLM-USD	+0.0089%	1h	0.2152	−0.195%	$23K	$3K	10x	as long as short
Aster XLMUSDT	+0.0100%	8h	0.2160	+0.167%	$579K	$752K	75x	as long as short
Binance XLMUSDT	+0.0100%	8h	0.2157	+0.032%	$55.6M	$151.1M	75x	as long as short
Bybit XLMUSDT	+0.0100%	8h	0.2156	−0.005%	$43.7M	$44.1M	75x	as long as short
OKX XLM-USDT-SWAP	+0.0100%	8h	0.2156	−0.014%	$13.0M	$41.8M	50x	as long as short
Gate XLM_USDT	+0.0100%	8h	0.2156	−0.014%	$4.1M	$6.3M	75x	as long as short
MEXC XLM_USDT	+0.0100%	8h	0.2156	+0.023%	$24.9M	$26.6M	300x	as long as short
KuCoin XLMUSDTM	+0.0100%	8h	0.2156	0.000%	$14.4M	$10.4M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget XLMUSDT	+0.0100%	8h	0.2156	−0.005%	$25.6M	$19.3M	75x	as long as short
BingX XLM-USDC	+0.0100%	8h	0.2156	+0.009%	—	$6.7M	—	as long as short
Backpack XLM_USDC_PERPlong	+0.0100%	1h	0.2156	long leg	$89K	$271K	20x
Variational Omni XLM	+0.0100%	8h	0.2153	−0.125%	$268K	$1.3M	—	as long as short
edgeX XLMUSDC	+0.0100%	4h	0.2153	−0.136%	$12K	$302K	10x	as long as short
GRVT XLM_USDT_Perp	+0.0100%	8h	0.2152	−0.196%	$595K	$604K	10x	as long as short
ApeX Omni XLMUSDT	+0.0100%	1h	0.2153	−0.135%	$173K	$258K	50x	as long as short
Orderly PERP_XLM_USDC_mythos	+0.0100%	4h	0.2155	−0.042%	$3K	$2K	10x	as long as short
SunX XLM-USDT	+0.0100%	8h	0.2157	+0.056%	$2K	$1.7M	20x	as long as short
SoDEX XLM-USD	+0.0100%	1h	0.2156	+0.009%	$2K	$6K	5x	as long as short
HTX XLM-USDT	+0.0100%	8h	0.2156	+0.005%	$199K	$261K	20x	as long as short
Phemex XLMUSDT	+0.0100%	8h	0.2157	+0.037%	$9.0M	$9.1M	50x	as long as short
Extended XLM-USD	+0.0104%	1h	0.2156	−0.011%	$192K	$1.6M	10x	as long as short
Lighter XLM	+0.0152%	1h	0.2159	+0.162%	$397K	$836K	5x	as long as short
BloFin XLM-USDT	+0.0220%	8h	0.2156	+0.019%	$2.3M	$5.5M	75x	as long as short
Phoenix XLM	+0.0222%	1h	0.2149	−0.325%	$5K	$42K	5x	as long as short
GMX XLM/USD [WBTC.b-USDC]	L +0.0315% / S −0.0167%	1h	0.2154	−0.083%	$45K	—	100x	as long as short
Hyperliquid XLM	+0.0323%	1h	0.2158	+0.079%	$12.3M	$6.2M	5x	as long as short
Kraken Futures PF_XLMUSDshort	+0.0413%	1h	0.2157	+0.056%	$2.6M	$2.6M	50x
Coinbase International XLM-PERP-INTX	+0.0448%	1h	0.2158	+0.102%	$230K	$1.5M	50x	as long as short
Deribit XLM_USDC-PERPETUAL	+0.0956%	1h	0.2158	+0.079%	$535K	$161K	25x	as long as short