Funding you earn now, next payment 16:00 UTC−0.0120%/8h= −13.1% APRnext payment −$1.20 per $10,000 · paid last 24h −0.036%
Price spread now: Phemex against BloFin−0.150%59s7-day average −0.008% · you buy dearer than you sell
Net, funding: paid 7d − costs−$74as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$410.413% of the position
Funding, last 7 days−0.329%−$33 on $10k
+Price spread, last 4 days (all we have)+0.237%+$24 · spread now −0.150%, 7d avg −0.008%
=Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Phemex is 0.142% cheaper against BloFin than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of −0.008%). Swap the legs. The two prices were read 59 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 | BloFin XLM-USDT | 0.2138 | 0.0220 | pay 0.0220% / 8h | 6h 55m | $2.3M | $5.4M | 75x |
| Short | Phemex XLMUSDT | 0.2134 | 0.0100 | get 0.0100% / 8h | 6h 55m | $8.7M | $8.7M | 50x |
BloFin XLM-USDT
Phemex XLMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against BloFin. 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
- −$25.2
- Price spread: −0.150% → −0.008%
- −$14.2
- Slippage, 4 orders
- −$17.28
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$80.69
- Costs to cover
- 0.413%
- Break-even
- never at this rate
Slippage from BloFin: live order book, 8 min ago; Phemex: 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 BloFin live order book, 8 min ago | 2.80 bp | 9.1 bp −$9 | 13.0 bp −$130 | 25.9 bp −$2,593 | doesn't fit |
| Sell Phemex live order book, 3 min ago | 3.74 bp | 11.4 bp −$11 | 19.2 bp −$192 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit XLM_USDC-PERPETUAL | 0.0000% | 1h | 0.2135 | −0.131% | $529K | $105K | 25x | as long as short |
| gTrade (Gains Network) XLM/USD | L 0.0000% / S +0.0002% | 1h | 0.2139 | +0.051% | $4K | — | 150x | as long as short |
| Injective XLM/USDC PERP | +0.0033% | 1h | 0.2125 | −0.589% | $683 | $241K | 12x | as long as short |
| Lighter XLM | +0.0096% | 1h | 0.2138 | +0.005% | $374K | $856K | 5x | as long as short |
| Aster XLMUSDT | +0.0100% | 8h | 0.2132 | −0.276% | $565K | $540K | 75x | as long as short |
| Binance XLMUSDT | +0.0100% | 8h | 0.2131 | −0.326% | $55.3M | $152.7M | 75x | as long as short |
| Bybit XLMUSDT | +0.0100% | 8h | 0.2129 | −0.398% | $44.1M | $43.6M | 75x | as long as short |
| OKX XLM-USDT-SWAP | +0.0100% | 8h | 0.2128 | −0.430% | $12.4M | $44.6M | 50x | as long as short |
| Gate XLM_USDT | +0.0100% | 8h | 0.2131 | −0.313% | $4.0M | $6.9M | 75x | as long as short |
| MEXC XLM_USDT | +0.0100% | 8h | 0.2131 | −0.318% | $24.3M | $27.8M | 300x | as long as short |
Deribit XLM_USDC-PERPETUAL
gTrade (Gains Network) XLM/USD
Injective XLM/USDC PERP
Lighter XLM
Aster XLMUSDT
Binance XLMUSDT
Bybit XLMUSDT
OKX XLM-USDT-SWAP
Gate XLM_USDT
MEXC XLM_USDTShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin XLMUSDTM | +0.0100% | 8h | 0.2131 | −0.323% | $13.8M | $8.9M | 75x | as long as short |
| Bitget XLMUSDT | +0.0100% | 8h | 0.2130 | −0.342% | $25.9M | $22.3M | 75x | as long as short |
| BingX XLM-USDC | +0.0100% | 8h | 0.2130 | −0.356% | — | $6.7M | — | as long as short |
| Backpack XLM_USDC_PERP | +0.0100% | 1h | 0.2133 | −0.215% | $121K | $318K | 20x | as long as short |
| Variational Omni XLM | +0.0100% | 8h | 0.2133 | −0.211% | $255K | $1.2M | — | as long as short |
| edgeX XLMUSDC | +0.0100% | 4h | 0.2137 | −0.021% | $12K | $307K | 10x | as long as short |
| GRVT XLM_USDT_Perp | +0.0100% | 8h | 0.2141 | +0.150% | $590K | $547K | 10x | as long as short |
| ApeX Omni XLMUSDT | +0.0100% | 1h | 0.2141 | +0.140% | $172K | $252K | 50x | as long as short |
| Orderly PERP_XLM_USDC_mythos | +0.0100% | 4h | 0.2135 | −0.122% | $3K | $247 | 10x | as long as short |
| SunX XLM-USDT | +0.0100% | 8h | 0.2135 | −0.112% | $2K | $1.5M | 20x | as long as short |
| SoDEX XLM-USD | +0.0100% | 1h | 0.2135 | −0.145% | $581 | $6K | 5x | as long as short |
| HTX XLM-USDT | +0.0100% | 8h | 0.2136 | −0.061% | $197K | $187K | 20x | as long as short |
| Phemex XLMUSDTshort | +0.0100% | 8h | 0.2134 | −0.150% | $8.7M | $8.7M | 50x | |
| Extended XLM-USD | +0.0104% | 1h | 0.2130 | −0.371% | $190K | $659K | 10x | as long as short |
| BloFin XLM-USDTlong | +0.0220% | 8h | 0.2138 | long leg | $2.3M | $5.4M | 75x | |
| Phoenix XLM | +0.0226% | 1h | 0.2137 | −0.042% | $4K | $47K | 5x | as long as short |
| Coinbase International XLM-PERP-INTX | +0.0328% | 1h | 0.2135 | −0.117% | $214K | $1.4M | 50x | as long as short |
| Kraken Futures PF_XLMUSD | +0.0482% | 1h | 0.2134 | −0.170% | $2.6M | $2.5M | 50x | as long as short |
| GMX XLM/USD [WBTC.b-USDC] | L +0.0503% / S −0.0236% | 1h | 0.2134 | −0.146% | $39K | — | 100x | as long as short |
| Hyperliquid XLM | +0.0557% | 1h | 0.2136 | −0.080% | $12.3M | $6.0M | 5x | as long as short |
| dYdX XLM-USD | +0.0707% | 1h | 0.2136 | −0.058% | $27K | $5K | 10x | as long as short |
KuCoin XLMUSDTM
Bitget XLMUSDT
BingX XLM-USDC
Backpack XLM_USDC_PERP
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
Extended XLM-USD
Phoenix XLM
Coinbase International XLM-PERP-INTX
Kraken Futures PF_XLMUSD
GMX XLM/USD [WBTC.b-USDC]
Hyperliquid XLM
dYdX XLM-USD