Funding arb · Price arb /

XLM

all XLM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0043%/8h= +4.7% APRpaid last 24h +0.049%

Price spread now: Kraken Futures against Binance+0.064%7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$520.522% of the position

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.114%−$11 on $10k

Price spread, last 4 days (all we have)−0.099%−$10 · spread now +0.064%, 7d avg +0.013%

Together, before fees−0.213%−$21 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Kraken Futures is 0.051% dearer against Binance than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.013%. Mind the row above: over the last 7 days funding on this pair cost −0.114%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XLMUSDT	0.2120	0.0100	pay 0.0100% / 8h	2h 51m	$54.2M	$159.4M	75x
Short	Kraken Futures PF_XLMUSD	0.2121	0.0143	get 0.0018% / 1h	51m 53s	$2.6M	$2.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Binance. 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 BinancebpFee Kraken FuturesbpOrdersPrice spread, now +0.064%Rate

Funding earned: $8.93
Price spread: +0.064% → +0.013%: $5.12
Slippage, 4 orders: −$32.25
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$38.2
Costs to cover: 0.522%
Break-even: 36.9 days

Slippage from Binance: live order book, 6 min ago; Kraken Futures: live order book, 2 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 Binance live order book, 6 min ago	0.24 bp	7.4 bp −$7	11.8 bp −$118	28.3 bp −$2,830	doesn't fit
Sell Kraken Futures live order book, 2 min ago	3.54 bp	21.2 bp −$21	33.5 bp −$335	85.6 bp −$8,564	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	0.2119	−0.029%	$4K	—	150x	as long as short
Injective XLM/USDC PERP	+0.0033%	1h	0.2125	+0.231%	$683	$241K	12x	as long as short
Lighter XLM	+0.0096%	1h	0.2123	+0.146%	$373K	$959K	5x	as long as short
Aster XLMUSDT	+0.0100%	8h	0.2119	−0.038%	$563K	$625K	75x	as long as short
Binance XLMUSDTlong	+0.0100%	8h	0.2120	long leg	$54.2M	$159.4M	75x
Bybit XLMUSDT	+0.0100%	8h	0.2119	−0.052%	$43.0M	$46.4M	75x	as long as short
OKX XLM-USDT-SWAP	+0.0100%	8h	0.2119	−0.033%	$12.5M	$43.4M	50x	as long as short
Gate XLM_USDT	+0.0100%	8h	0.2120	+0.009%	$4.1M	$7.1M	75x	as long as short
MEXC XLM_USDT	+0.0100%	8h	0.2120	0.000%	$25.0M	$27.7M	300x	as long as short
KuCoin XLMUSDTM	+0.0100%	8h	0.2120	+0.009%	$13.9M	$9.4M	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	0.2119	−0.033%	$25.5M	$22.5M	75x	as long as short
BingX XLM-USDC	+0.0100%	8h	0.2119	−0.033%	—	$6.7M	—	as long as short
Backpack XLM_USDC_PERP	+0.0100%	1h	0.2121	+0.057%	$125K	$295K	20x	as long as short
Variational Omni XLM	+0.0100%	8h	0.2121	+0.049%	$253K	$1.3M	—	as long as short
edgeX XLMUSDC	+0.0100%	4h	0.2119	−0.066%	$12K	$306K	10x	as long as short
GRVT XLM_USDT_Perp	+0.0100%	8h	0.2124	+0.189%	$595K	$608K	10x	as long as short
ApeX Omni XLMUSDT	+0.0100%	1h	0.2125	+0.241%	$170K	$265K	50x	as long as short
Orderly PERP_XLM_USDC_mythos	+0.0100%	4h	0.2120	−0.005%	$3K	$2K	10x	as long as short
SunX XLM-USDT	+0.0100%	8h	0.2119	−0.075%	$2K	$1.6M	20x	as long as short
SoDEX XLM-USD	+0.0100%	1h	0.2121	+0.042%	$578	$6K	5x	as long as short
HTX XLM-USDT	+0.0100%	8h	0.2120	−0.005%	$195K	$250K	20x	as long as short
Phemex XLMUSDT	+0.0100%	8h	0.2121	+0.057%	$8.9M	$9.0M	50x	as long as short
Extended XLM-USD	+0.0104%	1h	0.2119	−0.037%	$190K	$1.8M	10x	as long as short
Kraken Futures PF_XLMUSDshort	+0.0143%	1h	0.2121	+0.064%	$2.6M	$2.7M	50x
Hyperliquid XLM	+0.0153%	1h	0.2122	+0.067%	$12.1M	$6.4M	5x	as long as short
BloFin XLM-USDT	+0.0220%	8h	0.2119	−0.028%	$2.3M	$5.5M	75x	as long as short
Phoenix XLM	+0.0226%	1h	0.2118	−0.104%	$4K	$49K	5x	as long as short
dYdX XLM-USD	+0.0287%	1h	0.2119	−0.032%	$23K	$2K	10x	as long as short
Coinbase International XLM-PERP-INTX	+0.0456%	1h	0.2120	+0.014%	$228K	$1.6M	50x	as long as short
GMX XLM/USD [WBTC.b-USDC]	L +0.0517% / S −0.0247%	1h	0.2120	−0.011%	$39K	—	100x	as long as short
Deribit XLM_USDC-PERPETUAL	+0.0882%	1h	0.2123	+0.132%	$526K	$162K	25x	as long as short