Funding arb · Price arb /

XLM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0348%/8h= −38.1% APRpaid last 24h −0.096%

Price spread now: MEXC against Coinbase International−0.193%7-day average −0.074% · you buy dearer than you sell

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$350.346% of the position

Long on Coinbase International Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.191%−$19 on $10k

Price spread, last 3 days (all we have)+0.252%+$25 · spread now −0.193%, 7d avg −0.074%

Together, before fees+0.061%+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and MEXC is 0.119% cheaper against Coinbase International than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.074%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.191% in total (about -10.0% 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	0.2171	0.0448	pay 0.0056% / 1h	43m 15s	$234K	$1.5M	50x
Short	MEXC XLM_USDT	0.2167	0.0100	get 0.0100% / 8h	43m 15s	$25.7M	$26.0M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.193%Rate

Funding earned: −$73.08
Price spread: −0.193% → −0.074%: −$11.92
Slippage, 4 orders: −$24.55
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$119.55
Costs to cover: 0.346%
Break-even: never at this rate

Slippage from Coinbase International: live order book, just now; MEXC: live order book, just now.

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, just now	4.38 bp	12.6 bp −$13	17.3 bp −$173	doesn't fit	doesn't fit
Sell MEXC live order book, just now	1.85 bp	3.4 bp −$3	8.6 bp −$86	43.0 bp −$4,302	116.1 bp −$58.1K

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	0.2042	−5.946%	$5K	$238K	12x	as long as short
gTrade (Gains Network) XLM/USD	L 0.0000% / S +0.0002%	1h	0.2166	−0.229%	$4K	—	150x	as long as short
dYdX XLM-USD	+0.0023%	1h	0.2170	−0.065%	$24K	$3K	10x	as long as short
Aster XLMUSDT	+0.0100%	8h	0.2169	−0.090%	$581K	$752K	75x	as long as short
Binance XLMUSDT	+0.0100%	8h	0.2167	−0.201%	$56.0M	$150.9M	75x	as long as short
Bybit XLMUSDT	+0.0100%	8h	0.2166	−0.235%	$44.1M	$43.9M	75x	as long as short
OKX XLM-USDT-SWAP	+0.0100%	8h	0.2166	−0.230%	$13.1M	$41.8M	50x	as long as short
Gate XLM_USDT	+0.0100%	8h	0.2165	−0.276%	$4.1M	$6.2M	75x	as long as short
MEXC XLM_USDTshort	+0.0100%	8h	0.2167	−0.193%	$25.7M	$26.0M	300x
KuCoin XLMUSDTM	+0.0100%	8h	0.2166	−0.221%	$14.5M	$10.5M	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	0.2166	−0.216%	$25.8M	$19.2M	75x	as long as short
BingX XLM-USDC	+0.0100%	8h	0.2166	−0.235%	—	$6.7M	—	as long as short
Backpack XLM_USDC_PERP	+0.0100%	1h	0.2166	−0.235%	$94K	$266K	20x	as long as short
Variational Omni XLM	+0.0100%	8h	0.2175	+0.190%	$258K	$1.3M	—	as long as short
edgeX XLMUSDC	+0.0100%	4h	0.2173	+0.091%	$12K	$302K	10x	as long as short
GRVT XLM_USDT_Perp	+0.0100%	8h	0.2170	−0.069%	$600K	$613K	10x	as long as short
ApeX Omni XLMUSDT	+0.0100%	1h	0.2171	+0.014%	$174K	$256K	50x	as long as short
Orderly PERP_XLM_USDC_mythos	+0.0100%	4h	0.2167	−0.189%	$3K	$2K	10x	as long as short
SunX XLM-USDT	+0.0100%	8h	0.2166	−0.216%	$2K	$1.7M	20x	as long as short
SoDEX XLM-USD	+0.0100%	1h	0.2165	−0.258%	$2K	$6K	5x	as long as short
HTX XLM-USDT	+0.0100%	8h	0.2166	−0.240%	$200K	$260K	20x	as long as short
Phemex XLMUSDT	+0.0100%	8h	0.2167	−0.207%	$9.1M	$9.1M	50x	as long as short
Extended XLM-USD	+0.0104%	1h	0.2165	−0.260%	$194K	$1.6M	10x	as long as short
BloFin XLM-USDT	+0.0220%	8h	0.2168	−0.134%	$2.3M	$5.6M	75x	as long as short
Phoenix XLM	+0.0222%	1h	0.2171	−0.014%	$5K	$42K	5x	as long as short
GMX XLM/USD [WBTC.b-USDC]	L +0.0316% / S −0.0167%	1h	0.2165	−0.261%	$45K	—	100x	as long as short
Kraken Futures PF_XLMUSD	+0.0412%	1h	0.2166	−0.240%	$2.6M	$2.6M	50x	as long as short
Coinbase International XLM-PERP-INTXlong	+0.0448%	1h	0.2171	long leg	$234K	$1.5M	50x
Hyperliquid XLM	+0.0534%	1h	0.2168	−0.124%	$12.3M	$6.1M	5x	as long as short
Lighter XLM	+0.0576%	1h	0.2170	−0.028%	$420K	$809K	5x	as long as short
Deribit XLM_USDC-PERPETUAL	+0.0581%	1h	0.2167	−0.189%	$538K	$160K	25x	as long as short