Funding arb · Price arb /

XLM

all XLM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0308%/8h= −33.7% APRpaid last 24h −0.094%

Price spread now: Phemex against Coinbase International+0.038%7-day average −0.068% · you sell dearer than you buy

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$410.410% of the position

Long on Coinbase International Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.309%−$31 on $10k

Price spread, last 4 days (all we have)−0.034%−$3 · spread now +0.038%, 7d avg −0.068%

Together, before fees−0.343%−$34 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.106% dearer against Coinbase International than usual: you sell high and buy low (spread +0.038% now, against its 7-day average of −0.068%): +$11 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 28 hours. At the pace of the last 7 days (−0.309% in total) that is about 2.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International XLM-PERP-INTX	0.2113	0.0408	pay 0.0051% / 1h	31m 53s	$220K	$1.7M	50x
Short	Phemex XLMUSDT	0.2113	0.0100	get 0.0100% / 8h	1h 31m	$8.7M	$9.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.038%Rate

Funding earned: −$64.68
Price spread: +0.038% → −0.068%: $10.62
Slippage, 4 orders: −$18.99
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$95.04
Costs to cover: 0.410%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; Phemex: live order book, 2 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, 2 min ago	4.49 bp	14.6 bp −$15	19.7 bp −$197	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	0.71 bp	7.2 bp −$7	15.5 bp −$155	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
gTrade (Gains Network) XLM/USD	L 0.0000% / S +0.0002%	1h	0.2112	−0.052%	$4K	—	150x	as long as short
Injective XLM/USDC PERP	+0.0033%	1h	0.2125	+0.587%	$683	$241K	12x	as long as short
Lighter XLM	+0.0096%	1h	0.2115	+0.128%	$358K	$937K	5x	as long as short
Aster XLMUSDT	+0.0100%	8h	0.2114	+0.080%	$560K	$634K	75x	as long as short
Binance XLMUSDT	+0.0100%	8h	0.2115	+0.113%	$54.3M	$163.0M	75x	as long as short
Bybit XLMUSDT	+0.0100%	8h	0.2113	+0.033%	$42.8M	$47.5M	75x	as long as short
OKX XLM-USDT-SWAP	+0.0100%	8h	0.2114	+0.071%	$12.2M	$44.4M	50x	as long as short
Gate XLM_USDT	+0.0100%	8h	0.2113	+0.014%	$3.9M	$7.8M	75x	as long as short
MEXC XLM_USDT	+0.0100%	8h	0.2114	+0.071%	$25.1M	$28.9M	300x	as long as short
KuCoin XLMUSDTM	+0.0100%	8h	0.2113	+0.038%	$14.0M	$9.4M	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	0.2114	+0.062%	$25.4M	$23.1M	75x	as long as short
BingX XLM-USDC	+0.0100%	8h	0.2114	+0.057%	—	$6.7M	—	as long as short
Variational Omni XLM	+0.0100%	8h	0.2112	−0.022%	$252K	$1.3M	—	as long as short
edgeX XLMUSDC	+0.0100%	4h	0.2118	+0.234%	$12K	$307K	10x	as long as short
GRVT XLM_USDT_Perp	+0.0100%	8h	0.2116	+0.178%	$593K	$593K	10x	as long as short
ApeX Omni XLMUSDT	+0.0100%	1h	0.2117	+0.194%	$170K	$265K	50x	as long as short
Orderly PERP_XLM_USDC_mythos	+0.0100%	4h	0.2113	+0.019%	$3K	$2K	10x	as long as short
SunX XLM-USDT	+0.0100%	8h	0.2111	−0.066%	$2K	$1.7M	20x	as long as short
SoDEX XLM-USD	+0.0100%	1h	0.2113	+0.009%	$576	$6K	5x	as long as short
HTX XLM-USDT	+0.0100%	8h	0.2115	+0.109%	$195K	$249K	20x	as long as short
Phemex XLMUSDTshort	+0.0100%	8h	0.2113	+0.038%	$8.7M	$9.1M	50x
Extended XLM-USD	+0.0104%	1h	0.2113	+0.042%	$188K	$1.7M	10x	as long as short
Hyperliquid XLM	+0.0167%	1h	0.2115	+0.114%	$12.0M	$6.5M	5x	as long as short
Backpack XLM_USDC_PERP	+0.0171%	1h	0.2113	+0.033%	$110K	$339K	20x	as long as short
BloFin XLM-USDT	+0.0220%	8h	0.2117	+0.189%	$2.3M	$5.5M	75x	as long as short
Phoenix XLM	+0.0263%	1h	0.2113	+0.033%	$4K	$50K	5x	as long as short
dYdX XLM-USD	+0.0279%	1h	0.2113	+0.003%	$23K	$2K	10x	as long as short
Kraken Futures PF_XLMUSD	+0.0334%	1h	0.2113	+0.042%	$2.6M	$2.7M	50x	as long as short
Coinbase International XLM-PERP-INTXlong	+0.0408%	1h	0.2113	long leg	$220K	$1.7M	50x
GMX XLM/USD [WBTC.b-USDC]	L +0.0517% / S −0.0247%	1h	0.2112	−0.035%	$39K	—	100x	as long as short
Deribit XLM_USDC-PERPETUAL	+0.0934%	1h	0.2114	+0.080%	$524K	$168K	25x	as long as short