Funding arb · Price arb /

XLM

all XLM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0126%/8h= +13.8% APRpaid last 24h +0.018%

Price spread now: Phoenix against BingX−0.785%109s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on BingX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Phoenix is 0.785% cheaper against BingX than usual: you would sell low and buy high (spread −0.785% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$79 on $10k: about 21 days of funding at the current rate (+$4 a day). The two prices were read 109 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	BingX XLM-USDT	0.2113	0.0100	pay 0.0100% / 8h	2h 19m	—	$7.4M	—
Short	Phoenix XLM	0.2097	0.0226	get 0.0028% / 1h	19m 36s	$4K	$49K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against BingX. 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 BingXbpFee PhoenixbpOrdersPrice spread, now −0.785%Rate

Funding earned: $26.46
Price spread: −0.785% → 0.000%: −$78.55
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$69.08
Costs to cover: 0.170%
Break-even: 25.3 days

Slippage unknown: BingX: live order book, 3 min ago; Phoenix: 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 BingX live order book, 3 min ago	0.24 bp	8.4 bp −$8	11.3 bp −$113	20.2 bp −$2,016	90.9 bp −$45.4K
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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
gTrade (Gains Network) XLM/USD	L 0.0000% / S +0.0002%	1h	0.2110	−0.140%	$4K	—	150x	as long as short
Injective XLM/USDC PERP	+0.0033%	1h	0.2125	+0.549%	$683	$241K	12x	as long as short
Lighter XLM	+0.0096%	1h	0.2116	+0.109%	$354K	$993K	5x	as long as short
Aster XLMUSDT	+0.0100%	8h	0.2111	−0.092%	$559K	$630K	75x	as long as short
Binance XLMUSDT	+0.0100%	8h	0.2114	+0.045%	$54.1M	$161.7M	75x	as long as short
Bybit XLMUSDT	+0.0100%	8h	0.2112	−0.066%	$42.7M	$47.4M	75x	as long as short
OKX XLM-USDT-SWAP	+0.0100%	8h	0.2114	+0.028%	$12.2M	$44.2M	50x	as long as short
Gate XLM_USDT	+0.0100%	8h	0.2113	−0.028%	$3.9M	$7.6M	75x	as long as short
MEXC XLM_USDT	+0.0100%	8h	0.2114	+0.038%	$24.4M	$28.4M	300x	as long as short
KuCoin XLMUSDTM	+0.0100%	8h	0.2113	−0.024%	$13.8M	$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	0.2113	−0.014%	$25.4M	$22.8M	75x	as long as short
BingX XLM-USDTlong	+0.0100%	8h	0.2113	long leg	—	$7.4M	—
Backpack XLM_USDC_PERP	+0.0100%	1h	0.2113	−0.024%	$131K	$314K	20x	as long as short
Variational Omni XLM	+0.0100%	8h	0.2105	−0.391%	$251K	$1.3M	—	as long as short
edgeX XLMUSDC	+0.0100%	4h	0.2100	−0.616%	$12K	$307K	10x	as long as short
GRVT XLM_USDT_Perp	+0.0100%	8h	0.2103	−0.503%	$583K	$615K	10x	as long as short
ApeX Omni XLMUSDT	+0.0100%	1h	0.2099	−0.700%	$168K	$265K	50x	as long as short
Orderly PERP_XLM_USDC_mythos	+0.0100%	4h	0.2111	−0.114%	$3K	$2K	10x	as long as short
SunX XLM-USDT	+0.0100%	8h	0.2109	−0.199%	$2K	$1.7M	20x	as long as short
SoDEX XLM-USD	+0.0100%	1h	0.2112	−0.076%	$575	$6K	5x	as long as short
HTX XLM-USDT	+0.0100%	8h	0.2111	−0.118%	$195K	$251K	20x	as long as short
Phemex XLMUSDT	+0.0100%	8h	0.2111	−0.118%	$8.8M	$9.0M	50x	as long as short
Extended XLM-USD	+0.0104%	1h	0.2114	+0.016%	$189K	$1.8M	10x	as long as short
Kraken Futures PF_XLMUSD	+0.0143%	1h	0.2111	−0.092%	$2.5M	$2.7M	50x	as long as short
Hyperliquid XLM	+0.0156%	1h	0.2114	+0.043%	$12.0M	$6.6M	5x	as long as short
dYdX XLM-USD	+0.0187%	1h	0.2111	−0.113%	$23K	$2K	10x	as long as short
BloFin XLM-USDT	+0.0220%	8h	0.2107	−0.303%	$2.3M	$5.5M	75x	as long as short
Phoenix XLMshort	+0.0226%	1h	0.2097	−0.785%	$4K	$49K	5x
Coinbase International XLM-PERP-INTX	+0.0456%	1h	0.2112	−0.080%	$225K	$1.6M	50x	as long as short
GMX XLM/USD [WBTC.b-USDC]	L +0.0516% / S −0.0228%	1h	0.2110	−0.146%	$40K	—	100x	as long as short
Deribit XLM_USDC-PERPETUAL	+0.1124%	1h	0.2113	0.000%	$524K	$163K	25x	as long as short