Funding you earn now, next payment 02:00 UTC−0.0593%/8h= −64.9% APRnext payment −$0.74 per $10,000 · paid last 24h −0.144%
Price spread now: Backpack against Deribit−0.075%7-day average −0.060% · you buy dearer than you sell
Net, funding: paid 7d − costs−$50as in the Funding arb table
Net, price: spread back to 7d avg − costs−$36as in the Price arb table
costs, in and out, $10k−$350.346% of the position
Funding, last 7 days−0.152%−$15 on $10k
+Price spread, last 3 days (all we have)+0.022%+$2 · spread now −0.075%, 7d avg −0.060%
=The price spread sits at its 7-day average of −0.060%, so right now this pair is about funding alone: −$18 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 -0.152% in total (about -7.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.74 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 | Deribit XLM_USDC-PERPETUAL | 0.2122 | 0.0693 | pay 0.0087% / 1h | 5m 42s | $527K | $151K | 25x |
| Short | Backpack XLM_USDC_PERP | 0.2121 | 0.0100 | get 0.0013% / 1h | 5m 42s | $88K | $258K | 20x |
Deribit XLM_USDC-PERPETUAL
Backpack XLM_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Deribit. 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
- −$124.53
- Price spread: −0.075% → −0.060%
- −$1.52
- Slippage, 4 orders
- −$17.61
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$160.67
- Costs to cover
- 0.346%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 63 min ago; Backpack: live order book, 63 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 Deribit live order book, 63 min ago | 3.70 bp | 7.2 bp −$7 | 15.1 bp −$151 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 63 min ago | 0.23 bp | 8.7 bp −$9 | doesn't fit | doesn't fit | doesn't fit |
XLM on 30 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 | −0.098% | $4K | — | 150x | as long as short |
| Injective XLM/USDC PERP | +0.0033% | 1h | 0.2125 | +0.123% | $683 | $241K | 12x | as long as short |
| Lighter XLM | +0.0096% | 1h | 0.2122 | −0.028% | $357K | $913K | 5x | as long as short |
| Binance XLMUSDT | +0.0100% | 8h | 0.2120 | −0.099% | $54.0M | $154.9M | 75x | as long as short |
| Bybit XLMUSDT | +0.0100% | 8h | 0.2120 | −0.132% | $42.8M | $46.2M | 75x | as long as short |
| OKX XLM-USDT-SWAP | +0.0100% | 8h | 0.2120 | −0.123% | $12.6M | $41.7M | 50x | as long as short |
| Gate XLM_USDT | +0.0100% | 8h | 0.2120 | −0.108% | $4.1M | $6.8M | 75x | as long as short |
| MEXC XLM_USDT | +0.0100% | 8h | 0.2121 | −0.080% | $23.4M | $27.2M | 300x | as long as short |
| KuCoin XLMUSDTM | +0.0100% | 8h | 0.2120 | −0.099% | $14.1M | $10.0M | 75x | as long as short |
| Bitget XLMUSDT | +0.0100% | 8h | 0.2119 | −0.137% | $25.3M | $20.7M | 75x | as long as short |
gTrade (Gains Network) XLM/USD
Injective XLM/USDC PERP
Lighter XLM
Binance XLMUSDT
Bybit XLMUSDT
OKX XLM-USDT-SWAP
Gate XLM_USDT
MEXC XLM_USDT
KuCoin XLMUSDTM
Bitget XLMUSDTShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX XLM-USDT | +0.0100% | 8h | 0.2120 | −0.123% | — | $7.1M | — | as long as short |
| Backpack XLM_USDC_PERPshort | +0.0100% | 1h | 0.2121 | −0.075% | $88K | $258K | 20x | |
| Variational Omni XLM | +0.0100% | 8h | 0.2120 | −0.107% | $254K | $1.3M | — | as long as short |
| edgeX XLMUSDC | +0.0100% | 4h | 0.2115 | −0.348% | $11K | $303K | 10x | as long as short |
| GRVT XLM_USDT_Perp | +0.0100% | 8h | 0.2116 | −0.290% | $592K | $611K | 10x | as long as short |
| ApeX Omni XLMUSDT | +0.0100% | 1h | 0.2114 | −0.386% | $169K | $257K | 50x | as long as short |
| Orderly PERP_XLM_USDC_mythos | +0.0100% | 4h | 0.2121 | −0.066% | $3K | $2K | 10x | as long as short |
| SunX XLM-USDT | +0.0100% | 8h | 0.2120 | −0.123% | $2K | $1.6M | 20x | as long as short |
| SoDEX XLM-USD | +0.0100% | 1h | 0.2122 | −0.042% | $2K | $6K | 5x | as long as short |
| HTX XLM-USDT | +0.0100% | 8h | 0.2121 | −0.066% | $196K | $262K | 20x | as long as short |
| Phemex XLMUSDT | +0.0100% | 8h | 0.2122 | −0.038% | $8.9M | $8.9M | 50x | as long as short |
| Extended XLM-USD | +0.0104% | 1h | 0.2120 | −0.094% | $191K | $1.8M | 10x | as long as short |
| Aster XLMUSDT | +0.0116% | 8h | 0.2121 | −0.043% | $566K | $624K | 75x | as long as short |
| dYdX XLM-USD | +0.0136% | 1h | 0.2120 | −0.133% | $23K | $2K | 10x | as long as short |
| Phoenix XLM | +0.0187% | 1h | 0.2122 | +0.005% | $5K | $46K | 5x | as long as short |
| Hyperliquid XLM | +0.0308% | 1h | 0.2122 | +0.005% | $12.2M | $6.3M | 5x | as long as short |
| Kraken Futures PF_XLMUSD | +0.0381% | 1h | 0.2122 | −0.041% | $2.6M | $2.7M | 50x | as long as short |
| Coinbase International XLM-PERP-INTX | +0.0440% | 1h | 0.2124 | +0.061% | $234K | $1.5M | 50x | as long as short |
| GMX XLM/USD [WBTC.b-USDC] | L +0.0516% / S −0.0193% | 1h | 0.2120 | −0.109% | $44K | — | 100x | as long as short |
| Deribit XLM_USDC-PERPETUALlong | +0.0693% | 1h | 0.2122 | long leg | $527K | $151K | 25x |
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
Extended XLM-USD
Aster XLMUSDT
dYdX XLM-USD
Phoenix XLM
Hyperliquid XLM
Kraken Futures PF_XLMUSD
Coinbase International XLM-PERP-INTX
GMX XLM/USD [WBTC.b-USDC]