Funding you earn now, next payment 00:00 UTC+0.0414%/8h= +45.3% APRnext payment +$0.52 per $10,000 · paid last 24h +0.048%
Price spread now: Deribit against Coinbase International+0.023%7-day average −0.011% · you sell dearer than you buy
Net, funding: paid 7d − costs−$47as in the Funding arb table
Net, price: spread back to 7d avg − costs−$39as in the Price arb table
costs, in and out, $10k−$430.429% of the position
Funding, last 7 days−0.041%−$4 on $10k
+Price spread, last 3 days (all we have)+0.052%+$5 · spread now +0.023%, 7d avg −0.011%
=Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Deribit is 0.034% dearer against Coinbase International than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.011%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.041% in total (about -2.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.52 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 | 0.2161 | 0.0448 | pay 0.0056% / 1h | 57m 45s | $230K | $1.5M | 50x |
| Short | Deribit XLM_USDC-PERPETUAL | 0.2161 | 0.0862 | get 0.0108% / 1h | 57m 45s | $536K | $161K | 25x |
Coinbase International XLM-PERP-INTX
Deribit XLM_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- $86.94
- Price spread: +0.023% → −0.011%
- $3.42
- Slippage, 4 orders
- −$25.91
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $47.45
- Costs to cover
- 0.429%
- Break-even
- 3.2 days
Slippage from Coinbase International: live order book, 1 min ago; Deribit: live order book, 16 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, 1 min ago | 4.86 bp | 13.9 bp −$14 | 22.6 bp −$226 | doesn't fit | doesn't fit |
| Sell Deribit live order book, 16 min ago | 2.56 bp | 6.1 bp −$6 | 14.9 bp −$149 | 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 | 0.2157 | −0.180% | $736 | $241K | 12x | as long as short |
| dYdX XLM-USD | 0.0000% | 1h | 0.2159 | −0.108% | $23K | $3K | 10x | as long as short |
| gTrade (Gains Network) XLM/USD | L 0.0000% / S +0.0002% | 1h | 0.2159 | −0.105% | $4K | — | 150x | as long as short |
| Aster XLMUSDT | +0.0100% | 8h | 0.2162 | +0.071% | $580K | $752K | 75x | as long as short |
| Binance XLMUSDT | +0.0100% | 8h | 0.2160 | −0.040% | $55.7M | $151.0M | 75x | as long as short |
| Bybit XLMUSDT | +0.0100% | 8h | 0.2159 | −0.079% | $43.9M | $44.2M | 75x | as long as short |
| OKX XLM-USDT-SWAP | +0.0100% | 8h | 0.2159 | −0.097% | $13.1M | $41.8M | 50x | as long as short |
| Gate XLM_USDT | +0.0100% | 8h | 0.2159 | −0.069% | $4.1M | $6.1M | 75x | as long as short |
| MEXC XLM_USDT | +0.0100% | 8h | 0.2160 | −0.037% | $24.9M | $26.0M | 300x | as long as short |
| KuCoin XLMUSDTM | +0.0100% | 8h | 0.2159 | −0.093% | $14.4M | $10.4M | 75x | as long as short |
Injective XLM/USDC PERP
dYdX XLM-USD
gTrade (Gains Network) 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 | −0.088% | $25.6M | $19.4M | 75x | as long as short |
| BingX XLM-USDT | +0.0100% | 8h | 0.2159 | −0.093% | — | $7.1M | — | as long as short |
| Variational Omni XLM | +0.0100% | 8h | 0.2153 | −0.356% | $268K | $1.3M | — | as long as short |
| edgeX XLMUSDC | +0.0100% | 4h | 0.2155 | −0.293% | $12K | $302K | 10x | as long as short |
| GRVT XLM_USDT_Perp | +0.0100% | 8h | 0.2156 | −0.213% | $597K | $604K | 10x | as long as short |
| ApeX Omni XLMUSDT | +0.0100% | 1h | 0.2155 | −0.282% | $173K | $258K | 50x | as long as short |
| Orderly PERP_XLM_USDC_mythos | +0.0100% | 4h | 0.2160 | −0.042% | $3K | $2K | 10x | as long as short |
| SunX XLM-USDT | +0.0100% | 8h | 0.2161 | +0.019% | $2K | $1.7M | 20x | as long as short |
| SoDEX XLM-USD | +0.0100% | 1h | 0.2160 | −0.056% | $2K | $6K | 5x | as long as short |
| HTX XLM-USDT | +0.0100% | 8h | 0.2158 | −0.134% | $199K | $261K | 20x | as long as short |
| Phemex XLMUSDT | +0.0100% | 8h | 0.2160 | −0.028% | $9.0M | $9.1M | 50x | as long as short |
| Lighter XLM | +0.0104% | 1h | 0.2162 | +0.046% | $399K | $833K | 5x | as long as short |
| Extended XLM-USD | +0.0104% | 1h | 0.2160 | −0.061% | $193K | $1.6M | 10x | as long as short |
| Kraken Futures PF_XLMUSD | +0.0183% | 1h | 0.2160 | −0.045% | $2.6M | $2.6M | 50x | as long as short |
| Backpack XLM_USDC_PERP | +0.0218% | 1h | 0.2160 | −0.019% | $89K | $269K | 20x | as long as short |
| BloFin XLM-USDT | +0.0220% | 8h | 0.2157 | −0.199% | $2.3M | $5.5M | 75x | as long as short |
| Phoenix XLM | +0.0222% | 1h | 0.2156 | −0.208% | $5K | $42K | 5x | as long as short |
| Hyperliquid XLM | +0.0241% | 1h | 0.2161 | +0.009% | $12.3M | $6.2M | 5x | as long as short |
| GMX XLM/USD [WBTC.b-USDC] | L +0.0316% / S −0.0167% | 1h | 0.2159 | −0.099% | $45K | — | 100x | as long as short |
| Coinbase International XLM-PERP-INTXlong | +0.0448% | 1h | 0.2161 | long leg | $230K | $1.5M | 50x | |
| Deribit XLM_USDC-PERPETUALshort | +0.0862% | 1h | 0.2161 | +0.023% | $536K | $161K | 25x |
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
Lighter XLM
Extended XLM-USD
Kraken Futures PF_XLMUSD
Backpack XLM_USDC_PERP
BloFin XLM-USDT
Phoenix XLM
Hyperliquid XLM
GMX XLM/USD [WBTC.b-USDC]