Funding arb · Price arb /

XLM

all XLM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0070%/8h= −7.6% APRpaid last 24h −0.009%

Price spread now: Phoenix against BloFin+0.129%7-day average — · you sell dearer than you buy

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

Long on BloFin 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

The price spread pays, funding is against you. Phoenix is 0.129% dearer against BloFin than usual: you sell high and buy low (spread +0.129% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 6.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin XLM-USDT	0.2099	0.0220	pay 0.0220% / 8h	5h 29m	$2.3M	$5.1M	75x
Short	Phoenix XLM	0.2102	0.0150	get 0.0019% / 1h	29m 18s	$4K	$46K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against BloFin. 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 BloFinbpFee PhoenixbpOrdersPrice spread, now +0.129%Rate

Funding earned: −$14.66
Price spread: +0.129% → 0.000%: $12.86
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$20.8
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 2 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 BloFin live order book, 2 min ago	4.99 bp	12.1 bp −$12	16.8 bp −$168	23.6 bp −$2,364	doesn't fit
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 exchanges

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	0.2101	+0.121%	$4K	—	150x	as long as short
Injective XLM/USDC PERP	+0.0033%	1h	0.2125	+1.248%	$683	$241K	12x	as long as short
Lighter XLM	+0.0096%	1h	0.2102	+0.129%	$369K	$806K	5x	as long as short
Aster XLMUSDT	+0.0100%	8h	0.2099	+0.033%	$556K	$434K	75x	as long as short
Binance XLMUSDT	+0.0100%	8h	0.2098	−0.015%	$54.3M	$143.8M	75x	as long as short
Bybit XLMUSDT	+0.0100%	8h	0.2097	−0.086%	$43.4M	$41.3M	75x	as long as short
OKX XLM-USDT-SWAP	+0.0100%	8h	0.2098	−0.048%	$12.2M	$42.1M	50x	as long as short
Gate XLM_USDT	+0.0100%	8h	0.2099	+0.014%	$3.9M	$6.7M	75x	as long as short
MEXC XLM_USDT	+0.0100%	8h	0.2098	−0.057%	$24.2M	$27.5M	300x	as long as short
KuCoin XLMUSDTM	+0.0100%	8h	0.2099	0.000%	$13.9M	$8.6M	75x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget XLMUSDT	+0.0100%	8h	0.2097	−0.086%	$25.6M	$21.3M	75x	as long as short
BingX XLM-USDC	+0.0100%	8h	0.2097	−0.071%	—	$6.7M	—	as long as short
Backpack XLM_USDC_PERP	+0.0100%	1h	0.2098	−0.048%	$119K	$297K	20x	as long as short
Variational Omni XLM	+0.0100%	8h	0.2100	+0.057%	$250K	$1.2M	—	as long as short
edgeX XLMUSDC	+0.0100%	4h	0.2101	+0.126%	$12K	$311K	10x	as long as short
GRVT XLM_USDT_Perp	+0.0100%	8h	0.2101	+0.096%	$587K	$521K	10x	as long as short
ApeX Omni XLMUSDT	+0.0100%	1h	0.2101	+0.110%	$168K	$252K	50x	as long as short
Orderly PERP_XLM_USDC_mythos	+0.0100%	4h	0.2099	+0.010%	$3K	$247	10x	as long as short
SunX XLM-USDT	+0.0100%	8h	0.2100	+0.062%	$2K	$1.4M	20x	as long as short
SoDEX XLM-USD	+0.0100%	1h	0.2099	0.000%	$572	$6K	5x	as long as short
HTX XLM-USDT	+0.0100%	8h	0.2102	+0.129%	$189K	$242K	20x	as long as short
Phemex XLMUSDT	+0.0100%	8h	0.2099	+0.010%	$8.5M	$8.4M	50x	as long as short
Extended XLM-USD	+0.0104%	1h	0.2098	−0.035%	$187K	$608K	10x	as long as short
Phoenix XLMshort	+0.0150%	1h	0.2102	+0.129%	$4K	$46K	5x
BloFin XLM-USDTlong	+0.0220%	8h	0.2099	long leg	$2.3M	$5.1M	75x
Kraken Futures PF_XLMUSD	+0.0258%	1h	0.2099	+0.006%	$2.5M	$2.5M	50x	as long as short
Hyperliquid XLM	+0.0296%	1h	0.2102	+0.162%	$12.4M	$5.6M	5x	as long as short
Coinbase International XLM-PERP-INTX	+0.0328%	1h	0.2102	+0.152%	$209K	$1.3M	50x	as long as short
dYdX XLM-USD	+0.0425%	1h	0.2100	+0.080%	$27K	$5K	10x	as long as short
GMX XLM/USD [WBTC.b-USDC]	L +0.0510% / S −0.0245%	1h	0.2098	−0.035%	$39K	—	100x	as long as short
Deribit XLM_USDC-PERPETUAL	+0.0608%	1h	0.2100	+0.071%	$520K	$103K	25x	as long as short