Funding arb · Price arb /

XLM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0348%/8h= −38.1% APRpaid last 24h −0.096%

Price spread now: HTX against Coinbase International+0.060%7-day average −0.069% · you sell dearer than you buy

Net, funding: paid 7d − costs−$122as in the Funding arb table

Net, price: spread back to 7d avg − costs−$95as in the Price arb table

costs, in and out, $10k−$1081.079% of the position

Long on Coinbase International Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.138%−$14 on $10k

Price spread, last 3 days (all we have)−0.086%−$9 · spread now +0.060%, 7d avg −0.069%

Together, before fees−0.224%−$22 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.129% dearer against Coinbase International than usual: you sell high and buy low (spread +0.060% now, against its 7-day average of −0.069%): +$13 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 30 hours. At the pace of the last 7 days (−0.138% in total) that is about 6.6 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.138% in total (about -7.2% 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	0.2161	0.0448	pay 0.0056% / 1h	54m 23s	$230K	$1.5M	50x
Short	HTX XLM-USDT	0.2162	0.0100	get 0.0100% / 8h	7h 54m	$199K	$256K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.060%Rate

Funding earned: −$73.08
Price spread: +0.060% → −0.069%: $12.92
Slippage, 4 orders: −$85.88
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$168.04
Costs to cover: 1.079%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; HTX: live order book, 17 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, 4 min ago	4.86 bp	13.9 bp −$14	22.6 bp −$226	doesn't fit	doesn't fit
Sell HTX live order book, 17 min ago	24.84 bp	45.8 bp −$46	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	0.2157	−0.185%	$736	$241K	12x	as long as short
gTrade (Gains Network) XLM/USD	L 0.0000% / S +0.0002%	1h	0.2160	−0.049%	$4K	—	150x	as long as short
dYdX XLM-USD	+0.0075%	1h	0.2160	−0.057%	$23K	$3K	10x	as long as short
Aster XLMUSDT	+0.0100%	8h	0.2164	+0.143%	$580K	$752K	75x	as long as short
Binance XLMUSDT	+0.0100%	8h	0.2162	+0.069%	$55.7M	$151.1M	75x	as long as short
Bybit XLMUSDT	+0.0100%	8h	0.2161	+0.014%	$44.0M	$44.2M	75x	as long as short
OKX XLM-USDT-SWAP	+0.0100%	8h	0.2160	−0.042%	$13.1M	$41.7M	50x	as long as short
Gate XLM_USDT	+0.0100%	8h	0.2161	−0.009%	$4.1M	$6.2M	75x	as long as short
MEXC XLM_USDT	+0.0100%	8h	0.2161	−0.009%	$24.9M	$26.1M	300x	as long as short
KuCoin XLMUSDTM	+0.0100%	8h	0.2161	+0.005%	$14.4M	$10.4M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget XLMUSDT	+0.0100%	8h	0.2161	−0.014%	$25.6M	$19.4M	75x	as long as short
BingX XLM-USDC	+0.0100%	8h	0.2162	+0.023%	—	$6.7M	—	as long as short
Variational Omni XLM	+0.0100%	8h	0.2163	+0.102%	$284K	$1.3M	—	as long as short
edgeX XLMUSDC	+0.0100%	4h	0.2161	−0.019%	$12K	$300K	10x	as long as short
GRVT XLM_USDT_Perp	+0.0100%	8h	0.2163	+0.081%	$598K	$604K	10x	as long as short
ApeX Omni XLMUSDT	+0.0100%	1h	0.2160	−0.051%	$173K	$258K	50x	as long as short
Orderly PERP_XLM_USDC_mythos	+0.0100%	4h	0.2160	−0.046%	$3K	$2K	10x	as long as short
SunX XLM-USDT	+0.0100%	8h	0.2162	+0.042%	$2K	$1.7M	20x	as long as short
SoDEX XLM-USD	+0.0100%	1h	0.2160	−0.065%	$2K	$6K	5x	as long as short
HTX XLM-USDTshort	+0.0100%	8h	0.2162	+0.060%	$199K	$256K	20x
Phemex XLMUSDT	+0.0100%	8h	0.2160	−0.051%	$9.0M	$9.1M	50x	as long as short
Lighter XLM	+0.0104%	1h	0.2162	+0.046%	$400K	$836K	5x	as long as short
Extended XLM-USD	+0.0104%	1h	0.2161	+0.002%	$193K	$1.6M	10x	as long as short
Kraken Futures PF_XLMUSD	+0.0183%	1h	0.2160	−0.066%	$2.6M	$2.6M	50x	as long as short
BloFin XLM-USDT	+0.0220%	8h	0.2160	−0.051%	$2.3M	$5.5M	75x	as long as short
Phoenix XLM	+0.0222%	1h	0.2157	−0.204%	$5K	$42K	5x	as long as short
Hyperliquid XLM	+0.0263%	1h	0.2163	+0.102%	$12.3M	$6.1M	5x	as long as short
Backpack XLM_USDC_PERP	+0.0290%	1h	0.2160	−0.051%	$89K	$269K	20x	as long as short
GMX XLM/USD [WBTC.b-USDC]	L +0.0316% / S −0.0167%	1h	0.2159	−0.103%	$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-PERPETUAL	+0.0723%	1h	0.2161	+0.005%	$536K	$161K	25x	as long as short