Funding arb · Price arb /

XLM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0482%/8h= −52.8% APRpaid last 24h −0.137%

Price spread now: OKX against Deribit−0.074%7-day average −0.085% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$370.375% of the position

Long on Deribit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.226%−$23 on $10k

Price spread, last 3 days (all we have)+0.015%+$2 · spread now −0.074%, 7d avg −0.085%

Together, before fees−0.211%−$21 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.085%, so right now this pair is about funding alone: −$14 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 -0.226% in total (about -11.8% 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	0.2165	0.0582	pay 0.0073% / 1h	25m 18s	$537K	$176K	25x
Short	OKX XLM-USDT-SWAP	0.2164	0.0100	get 0.0100% / 8h	1h 25m	$13.1M	$42.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Deribit. 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 DeribitbpFee OKXbpOrdersPrice spread, now −0.074%Rate

Funding earned: −$101.22
Price spread: −0.074% → −0.085%: $1.1
Slippage, 4 orders: −$20.46
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$137.58
Costs to cover: 0.375%
Break-even: never at this rate

Slippage from Deribit: live order book, 58 min ago; OKX: live order book, 3 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, 58 min ago	4.89 bp	8.4 bp −$8	13.1 bp −$131	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	0.23 bp	11.5 bp −$11	20.0 bp −$200	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	0.2164	−0.081%	$4K	—	150x	as long as short
dYdX XLM-USD	+0.0016%	1h	0.2161	−0.188%	$23K	$3K	10x	as long as short
Aster XLMUSDT	+0.0100%	8h	0.2163	−0.092%	$586K	$804K	75x	as long as short
Binance XLMUSDT	+0.0100%	8h	0.2165	−0.037%	$56.2M	$151.0M	75x	as long as short
Bybit XLMUSDT	+0.0100%	8h	0.2164	−0.074%	$44.0M	$43.8M	75x	as long as short
OKX XLM-USDT-SWAPshort	+0.0100%	8h	0.2164	−0.074%	$13.1M	$42.4M	50x
Gate XLM_USDT	+0.0100%	8h	0.2163	−0.115%	$4.1M	$6.2M	75x	as long as short
MEXC XLM_USDT	+0.0100%	8h	0.2165	−0.037%	$26.4M	$26.3M	300x	as long as short
KuCoin XLMUSDTM	+0.0100%	8h	0.2164	−0.074%	$14.6M	$10.6M	75x	as long as short
Bitget XLMUSDT	+0.0100%	8h	0.2164	−0.051%	$25.9M	$19.1M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX XLM-USDT	+0.0100%	8h	0.2165	−0.032%	—	$7.0M	—	as long as short
Variational Omni XLM	+0.0100%	8h	0.2163	−0.100%	$297K	$1.2M	—	as long as short
edgeX XLMUSDC	+0.0100%	4h	0.2161	−0.211%	$12K	$298K	10x	as long as short
GRVT XLM_USDT_Perp	+0.0100%	8h	0.2165	−0.032%	$600K	$617K	10x	as long as short
ApeX Omni XLMUSDT	+0.0100%	1h	0.2164	−0.065%	$173K	$256K	50x	as long as short
Orderly PERP_XLM_USDC_mythos	+0.0100%	4h	0.2164	−0.065%	$3K	$2K	10x	as long as short
SunX XLM-USDT	+0.0100%	8h	0.2162	−0.143%	$2K	$1.7M	20x	as long as short
SoDEX XLM-USD	+0.0100%	1h	0.2165	−0.042%	$2K	$6K	5x	as long as short
HTX XLM-USDT	+0.0100%	8h	0.2163	−0.102%	$200K	$272K	20x	as long as short
Phemex XLMUSDT	+0.0100%	8h	0.2165	−0.005%	$9.1M	$9.2M	50x	as long as short
Extended XLM-USD	+0.0104%	1h	0.2164	−0.058%	$193K	$1.6M	10x	as long as short
Backpack XLM_USDC_PERP	+0.0190%	1h	0.2162	−0.139%	$102K	$261K	20x	as long as short
BloFin XLM-USDT	+0.0220%	8h	0.2165	−0.042%	$2.4M	$6.0M	75x	as long as short
Phoenix XLM	+0.0221%	1h	0.2162	−0.175%	$5K	$41K	5x	as long as short
GMX XLM/USD [WBTC.b-USDC]	L +0.0316% / S −0.0167%	1h	0.2164	−0.061%	$45K	—	100x	as long as short
Hyperliquid XLM	+0.0328%	1h	0.2167	+0.081%	$12.3M	$6.1M	5x	as long as short
Lighter XLM	+0.0424%	1h	0.2169	+0.152%	$419K	$812K	5x	as long as short
Coinbase International XLM-PERP-INTX	+0.0432%	1h	0.2165	−0.009%	$233K	$1.5M	50x	as long as short
Injective XLM/USDC PERP	+0.0475%	1h	0.2035	−6.022%	$5K	$238K	12x	as long as short
Kraken Futures PF_XLMUSD	+0.0505%	1h	0.2165	−0.003%	$2.6M	$2.7M	50x	as long as short
Deribit XLM_USDC-PERPETUALlong	+0.0582%	1h	0.2165	long leg	$537K	$176K	25x