Funding you earn now, next payment 23:00 UTC−0.0348%/8h= −38.1% APRnext payment −$0.43 per $10,000 · paid last 24h −0.095%
Price spread now: Backpack against Coinbase International−0.139%7-day average −0.071% · you buy dearer than you sell
Net, funding: paid 7d − costs−$62as in the Funding arb table
Net, price: spread back to 7d avg − costs−$51as in the Price arb table
costs, in and out, $10k−$450.445% of the position
Funding, last 7 days−0.178%−$18 on $10k
+Price spread, last 3 days (all we have)+0.185%+$19 · spread now −0.139%, 7d avg −0.071%
=Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Backpack is 0.068% cheaper against Coinbase International than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.071%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.178% in total (about -9.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.43 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 | Coinbase International XLM-PERP-INTX | 0.2164 | 0.0448 | pay 0.0056% / 1h | 28m 50s | $233K | $1.5M | 50x |
| Short | Backpack XLM_USDC_PERP | 0.2161 | 0.0100 | get 0.0013% / 1h | 28m 50s | $90K | $269K | 20x |
Coinbase International XLM-PERP-INTX
Backpack XLM_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Coinbase International. 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
- −$73.08
- Price spread: −0.139% → −0.071%
- −$6.81
- Slippage, 4 orders
- −$24.51
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$124.4
- Costs to cover
- 0.445%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 5 min ago; Backpack: live order book, 49 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 Coinbase International live order book, 5 min ago | 3.46 bp | 11.5 bp −$11 | 16.3 bp −$163 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 49 min ago | 0.92 bp | 8.5 bp −$8 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective XLM/USDC PERP | −0.5000% | 1h | 0.2033 | −6.054% | $4K | $239K | 12x | as long as short |
| gTrade (Gains Network) XLM/USD | L 0.0000% / S +0.0002% | 1h | 0.2160 | −0.183% | $4K | — | 150x | as long as short |
| dYdX XLM-USD | +0.0087% | 1h | 0.2161 | −0.156% | $23K | $3K | 10x | as long as short |
| Aster XLMUSDT | +0.0100% | 8h | 0.2162 | −0.106% | $579K | $752K | 75x | as long as short |
| Binance XLMUSDT | +0.0100% | 8h | 0.2159 | −0.245% | $55.7M | $150.7M | 75x | as long as short |
| Bybit XLMUSDT | +0.0100% | 8h | 0.2159 | −0.250% | $43.8M | $44.0M | 75x | as long as short |
| OKX XLM-USDT-SWAP | +0.0100% | 8h | 0.2158 | −0.287% | $13.1M | $41.7M | 50x | as long as short |
| Gate XLM_USDT | +0.0100% | 8h | 0.2159 | −0.217% | $4.1M | $6.3M | 75x | as long as short |
| MEXC XLM_USDT | +0.0100% | 8h | 0.2160 | −0.166% | $25.3M | $26.1M | 300x | as long as short |
| KuCoin XLMUSDTM | +0.0100% | 8h | 0.2160 | −0.180% | $14.5M | $10.4M | 75x | as long as short |
Injective XLM/USDC PERP
gTrade (Gains Network) XLM/USD
dYdX XLM-USD
Aster XLMUSDT
Binance XLMUSDT
Bybit XLMUSDT
OKX XLM-USDT-SWAP
Gate XLM_USDT
MEXC XLM_USDT
KuCoin XLMUSDTMShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget XLMUSDT | +0.0100% | 8h | 0.2159 | −0.250% | $25.7M | $19.3M | 75x | as long as short |
| BingX XLM-USDT | +0.0100% | 8h | 0.2159 | −0.222% | — | $7.0M | — | as long as short |
| Backpack XLM_USDC_PERPshort | +0.0100% | 1h | 0.2161 | −0.139% | $90K | $269K | 20x | |
| Variational Omni XLM | +0.0100% | 8h | 0.2160 | −0.173% | $254K | $1.3M | — | as long as short |
| edgeX XLMUSDC | +0.0100% | 4h | 0.2165 | +0.034% | $12K | $301K | 10x | as long as short |
| GRVT XLM_USDT_Perp | +0.0100% | 8h | 0.2161 | −0.139% | $598K | $613K | 10x | as long as short |
| ApeX Omni XLMUSDT | +0.0100% | 1h | 0.2164 | +0.018% | $173K | $257K | 50x | as long as short |
| Orderly PERP_XLM_USDC_mythos | +0.0100% | 4h | 0.2162 | −0.092% | $3K | $2K | 10x | as long as short |
| SunX XLM-USDT | +0.0100% | 8h | 0.2161 | −0.129% | $2K | $1.7M | 20x | as long as short |
| SoDEX XLM-USD | +0.0100% | 1h | 0.2162 | −0.111% | $2K | $6K | 5x | as long as short |
| HTX XLM-USDT | +0.0100% | 8h | 0.2161 | −0.152% | $199K | $261K | 20x | as long as short |
| Phemex XLMUSDT | +0.0100% | 8h | 0.2162 | −0.116% | $9.1M | $9.1M | 50x | as long as short |
| Extended XLM-USD | +0.0104% | 1h | 0.2160 | −0.208% | $194K | $1.6M | 10x | as long as short |
| BloFin XLM-USDT | +0.0220% | 8h | 0.2161 | −0.125% | $2.3M | $5.6M | 75x | as long as short |
| Phoenix XLM | +0.0222% | 1h | 0.2163 | −0.055% | $5K | $42K | 5x | as long as short |
| GMX XLM/USD [WBTC.b-USDC] | L +0.0316% / S −0.0167% | 1h | 0.2160 | −0.170% | $45K | — | 100x | as long as short |
| Kraken Futures PF_XLMUSD | +0.0412% | 1h | 0.2162 | −0.102% | $2.6M | $2.6M | 50x | as long as short |
| Coinbase International XLM-PERP-INTXlong | +0.0448% | 1h | 0.2164 | long leg | $233K | $1.5M | 50x | |
| Hyperliquid XLM | +0.0456% | 1h | 0.2160 | −0.180% | $12.3M | $6.1M | 5x | as long as short |
| Lighter XLM | +0.0552% | 1h | 0.2163 | −0.060% | $418K | $809K | 5x | as long as short |
| Deribit XLM_USDC-PERPETUAL | +0.0860% | 1h | 0.2164 | −0.009% | $537K | $160K | 25x | as long as short |
Bitget XLMUSDT
BingX XLM-USDT
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
Phemex XLMUSDT
Extended XLM-USD
BloFin XLM-USDT
Phoenix XLM
GMX XLM/USD [WBTC.b-USDC]
Kraken Futures PF_XLMUSD
Hyperliquid XLM
Lighter XLM
Deribit XLM_USDC-PERPETUAL