Funding arb · Price arb /

XLM

all XLM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0380%/8h= −41.6% APRpaid last 24h −0.095%

Price spread now: Bybit against Coinbase International−0.118%7-day average −0.103% · you buy dearer than you sell

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$460.464% of the position

Long on Coinbase International Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.239%−$24 on $10k

Price spread, last 4 days (all we have)+0.177%+$18 · spread now −0.118%, 7d avg −0.103%

Together, before fees−0.062%−$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.103%, so right now this pair is about funding alone: −$11 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.239% in total (about -12.5% a year). A funding rate is set anew for every payment. 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	0.2121	0.0480	pay 0.0060% / 1h	50m 07s	$233K	$1.5M	50x
Short	Bybit XLMUSDT	0.2119	0.0100	get 0.0100% / 8h	4h 50m	$42.8M	$45.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 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 Coinbase InternationalbpFee BybitbpOrdersPrice spread, now −0.118%Rate

Funding earned: −$79.8
Price spread: −0.118% → −0.103%: −$1.46
Slippage, 4 orders: −$25.43
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$127.69
Costs to cover: 0.464%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; Bybit: live order book, 4 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, 3 min ago	4.22 bp	13.6 bp −$14	19.1 bp −$191	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	2.35 bp	10.9 bp −$11	16.2 bp −$162	53.4 bp −$5,341	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	0.2120	−0.045%	$4K	—	150x	as long as short
Injective XLM/USDC PERP	+0.0033%	1h	0.2125	+0.170%	$683	$241K	12x	as long as short
Lighter XLM	+0.0096%	1h	0.2122	+0.052%	$371K	$961K	5x	as long as short
Hyperliquid XLM	+0.0100%	1h	0.2121	−0.009%	$12.2M	$6.2M	5x	as long as short
Aster XLMUSDT	+0.0100%	8h	0.2121	+0.003%	$564K	$625K	75x	as long as short
Binance XLMUSDT	+0.0100%	8h	0.2120	−0.043%	$54.1M	$154.6M	75x	as long as short
Bybit XLMUSDTshort	+0.0100%	8h	0.2119	−0.118%	$42.8M	$45.6M	75x
OKX XLM-USDT-SWAP	+0.0100%	8h	0.2119	−0.137%	$12.4M	$42.1M	50x	as long as short
Gate XLM_USDT	+0.0100%	8h	0.2119	−0.090%	$4.0M	$6.8M	75x	as long as short
MEXC XLM_USDT	+0.0100%	8h	0.2120	−0.066%	$23.8M	$26.7M	300x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin XLMUSDTM	+0.0100%	8h	0.2119	−0.099%	$14.0M	$9.8M	75x	as long as short
Bitget XLMUSDT	+0.0100%	8h	0.2119	−0.118%	$25.4M	$21.1M	75x	as long as short
BingX XLM-USDT	+0.0100%	8h	0.2120	−0.085%	—	$7.0M	—	as long as short
Backpack XLM_USDC_PERP	+0.0100%	1h	0.2120	−0.080%	$95K	$274K	20x	as long as short
Variational Omni XLM	+0.0100%	8h	0.2120	−0.060%	$254K	$1.3M	—	as long as short
edgeX XLMUSDC	+0.0100%	4h	0.2128	+0.306%	$12K	$305K	10x	as long as short
GRVT XLM_USDT_Perp	+0.0100%	8h	0.2128	+0.302%	$593K	$595K	10x	as long as short
ApeX Omni XLMUSDT	+0.0100%	1h	0.2128	+0.321%	$171K	$258K	50x	as long as short
Orderly PERP_XLM_USDC_mythos	+0.0100%	4h	0.2121	−0.019%	$3K	$2K	10x	as long as short
SunX XLM-USDT	+0.0100%	8h	0.2119	−0.123%	$2K	$1.6M	20x	as long as short
SoDEX XLM-USD	+0.0100%	1h	0.2120	−0.042%	$578	$6K	5x	as long as short
HTX XLM-USDT	+0.0100%	8h	0.2123	+0.075%	$196K	$252K	20x	as long as short
Phemex XLMUSDT	+0.0100%	8h	0.2120	−0.075%	$8.9M	$8.9M	50x	as long as short
Extended XLM-USD	+0.0104%	1h	0.2120	−0.044%	$189K	$1.8M	10x	as long as short
BloFin XLM-USDT	+0.0220%	8h	0.2123	+0.085%	$2.3M	$5.0M	75x	as long as short
Phoenix XLM	+0.0225%	1h	0.2129	+0.335%	$5K	$46K	5x	as long as short
dYdX XLM-USD	+0.0246%	1h	0.2120	−0.083%	$23K	$2K	10x	as long as short
Kraken Futures PF_XLMUSD	+0.0266%	1h	0.2120	−0.056%	$2.6M	$2.7M	50x	as long as short
Coinbase International XLM-PERP-INTXlong	+0.0480%	1h	0.2121	long leg	$233K	$1.5M	50x
GMX XLM/USD [WBTC.b-USDC]	L +0.0517% / S −0.0193%	1h	0.2120	−0.064%	$44K	—	100x	as long as short
Deribit XLM_USDC-PERPETUAL	+0.0882%	1h	0.2122	+0.052%	$527K	$153K	25x	as long as short