Funding you earn now, next payment 06:00 UTC−0.1069%/8h= −117.1% APRpaid last 24h −0.145%
Price spread now: Bybit against Deribit−0.132%7-day average −0.090% · you buy dearer than you sell
Net, funding: paid 7d − costs−$56as in the Funding arb table
Net, price: spread back to 7d avg − costs−$39as in the Price arb table
costs, in and out, $10k−$350.347% of the position
Funding, last 7 days−0.213%−$21 on $10k
+Price spread, last 4 days (all we have)+0.105%+$11 · spread now −0.132%, 7d avg −0.090%
=Both sides work against this trade now: funding costs −$32 a day on $10k at the current rate, and Bybit is 0.043% cheaper against Deribit than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.090%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.213% in total (about -11.1% 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 | Deribit XLM_USDC-PERPETUAL | 0.2117 | 0.1169 | pay 0.0146% / 1h | 19m 12s | $525K | $163K | 25x |
| Short | Bybit XLMUSDT | 0.2114 | 0.0100 | get 0.0100% / 8h | 2h 19m | $42.7M | $47.4M | 75x |
Deribit XLM_USDC-PERPETUAL
Bybit XLMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$224.49
- Price spread: −0.132% → −0.090%
- −$4.27
- Slippage, 4 orders
- −$16.65
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$263.41
- Costs to cover
- 0.347%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 30 min ago; Bybit: live order book, 5 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, 30 min ago | 3.77 bp | 7.3 bp −$7 | 14.7 bp −$147 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 5 min ago | 2.38 bp | 7.9 bp −$8 | 17.8 bp −$178 | 58.7 bp −$5,874 | 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 | 0.2113 | −0.157% | $4K | — | 150x | as long as short |
| Injective XLM/USDC PERP | +0.0033% | 1h | 0.2125 | +0.387% | $683 | $241K | 12x | as long as short |
| Lighter XLM | +0.0096% | 1h | 0.2118 | +0.038% | $355K | $993K | 5x | as long as short |
| Aster XLMUSDT | +0.0100% | 8h | 0.2113 | −0.184% | $560K | $630K | 75x | as long as short |
| Binance XLMUSDT | +0.0100% | 8h | 0.2115 | −0.080% | $54.1M | $161.8M | 75x | as long as short |
| Bybit XLMUSDTshort | +0.0100% | 8h | 0.2114 | −0.132% | $42.7M | $47.4M | 75x | |
| OKX XLM-USDT-SWAP | +0.0100% | 8h | 0.2115 | −0.066% | $12.2M | $44.2M | 50x | as long as short |
| Gate XLM_USDT | +0.0100% | 8h | 0.2114 | −0.146% | $3.9M | $7.6M | 75x | as long as short |
| MEXC XLM_USDT | +0.0100% | 8h | 0.2114 | −0.109% | $24.4M | $28.4M | 300x | as long as short |
| KuCoin XLMUSDTM | +0.0100% | 8h | 0.2114 | −0.123% | $13.8M | $9.4M | 75x | as long as short |
gTrade (Gains Network) XLM/USD
Injective XLM/USDC PERP
Lighter XLM
Aster XLMUSDT
Binance 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 | 0.2114 | −0.132% | $25.4M | $22.8M | 75x | as long as short |
| BingX XLM-USDC | +0.0100% | 8h | 0.2115 | −0.099% | — | $6.7M | — | as long as short |
| Backpack XLM_USDC_PERP | +0.0100% | 1h | 0.2116 | −0.057% | $131K | $314K | 20x | as long as short |
| Variational Omni XLM | +0.0100% | 8h | 0.2105 | −0.551% | $251K | $1.3M | — | as long as short |
| edgeX XLMUSDC | +0.0100% | 4h | 0.2108 | −0.409% | $12K | $307K | 10x | as long as short |
| GRVT XLM_USDT_Perp | +0.0100% | 8h | 0.2103 | −0.663% | $583K | $615K | 10x | as long as short |
| ApeX Omni XLMUSDT | +0.0100% | 1h | 0.2099 | −0.860% | $168K | $265K | 50x | as long as short |
| Orderly PERP_XLM_USDC_mythos | +0.0100% | 4h | 0.2115 | −0.085% | $3K | $2K | 10x | as long as short |
| SunX XLM-USDT | +0.0100% | 8h | 0.2114 | −0.156% | $2K | $1.7M | 20x | as long as short |
| SoDEX XLM-USD | +0.0100% | 1h | 0.2115 | −0.080% | $576 | $6K | 5x | as long as short |
| HTX XLM-USDT | +0.0100% | 8h | 0.2112 | −0.227% | $195K | $251K | 20x | as long as short |
| Phemex XLMUSDT | +0.0100% | 8h | 0.2113 | −0.165% | $8.8M | $9.0M | 50x | as long as short |
| Extended XLM-USD | +0.0104% | 1h | 0.2115 | −0.095% | $189K | $1.8M | 10x | as long as short |
| Kraken Futures PF_XLMUSD | +0.0143% | 1h | 0.2115 | −0.088% | $2.5M | $2.7M | 50x | as long as short |
| Hyperliquid XLM | +0.0159% | 1h | 0.2116 | −0.019% | $12.0M | $6.6M | 5x | as long as short |
| dYdX XLM-USD | +0.0187% | 1h | 0.2111 | −0.273% | $23K | $2K | 10x | as long as short |
| BloFin XLM-USDT | +0.0220% | 8h | 0.2114 | −0.128% | $2.3M | $5.6M | 75x | as long as short |
| Phoenix XLM | +0.0226% | 1h | 0.2109 | −0.354% | $4K | $49K | 5x | as long as short |
| Coinbase International XLM-PERP-INTX | +0.0456% | 1h | 0.2114 | −0.132% | $226K | $1.6M | 50x | as long as short |
| GMX XLM/USD [WBTC.b-USDC] | L +0.0517% / S −0.0228% | 1h | 0.2114 | −0.138% | $40K | — | 100x | as long as short |
| Deribit XLM_USDC-PERPETUALlong | +0.1169% | 1h | 0.2117 | long leg | $525K | $163K | 25x |
Bitget XLMUSDT
BingX XLM-USDC
Backpack XLM_USDC_PERP
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
Kraken Futures PF_XLMUSD
Hyperliquid XLM
dYdX XLM-USD
BloFin XLM-USDT
Phoenix XLM
Coinbase International XLM-PERP-INTX
GMX XLM/USD [WBTC.b-USDC]