Funding arb · Price arb /

XLM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0088%/8h= +9.6% APRpaid last 24h +0.013%

Price spread now: Orderly against dYdX−0.171%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on dYdX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Orderly is 0.171% cheaper against dYdX than usual: you would sell low and buy high (spread −0.171% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$17 on $10k: about 6.5 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX XLM-USD	0.2173	0.0012	pay 0.0001% / 1h	46m 42s	$24K	$3K	10x
Short	Orderly PERP_XLM_USDC_mythos	0.2169	0.0100	get 0.0050% / 4h	46m 42s	$3K	$2K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against dYdX. 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 dYdXbpFee OrderlybpOrdersPrice spread, now −0.171%Rate

Funding earned: $18.5
Price spread: −0.171% → 0.000%: −$17.11
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$14.61
Costs to cover: 0.160%
Break-even: 12.5 days

Slippage unknown: dYdX: no order-book sample; Orderly: no order-book sample. Net counts fees only.

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 dYdX no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

dYdX and Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.2040	−6.108%	$5K	$238K	12x	as long as short
gTrade (Gains Network) XLM/USD	L 0.0000% / S +0.0002%	1h	0.2167	−0.264%	$4K	—	150x	as long as short
dYdX XLM-USDlong	+0.0012%	1h	0.2173	long leg	$24K	$3K	10x
Aster XLMUSDT	+0.0100%	8h	0.2173	+0.032%	$583K	$752K	75x	as long as short
Binance XLMUSDT	+0.0100%	8h	0.2176	+0.156%	$56.2M	$150.9M	75x	as long as short
Bybit XLMUSDT	+0.0100%	8h	0.2174	+0.064%	$44.2M	$43.9M	75x	as long as short
OKX XLM-USDT-SWAP	+0.0100%	8h	0.2175	+0.082%	$13.2M	$42.0M	50x	as long as short
Gate XLM_USDT	+0.0100%	8h	0.2172	−0.024%	$4.1M	$6.2M	75x	as long as short
MEXC XLM_USDT	+0.0100%	8h	0.2175	+0.110%	$25.9M	$26.0M	300x	as long as short
KuCoin XLMUSDTM	+0.0100%	8h	0.2175	+0.082%	$14.6M	$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	0.2175	+0.091%	$25.9M	$19.2M	75x	as long as short
BingX XLM-USDC	+0.0100%	8h	0.2174	+0.064%	—	$6.7M	—	as long as short
Backpack XLM_USDC_PERP	+0.0100%	1h	0.2171	−0.093%	$98K	$265K	20x	as long as short
Variational Omni XLM	+0.0100%	8h	0.2175	+0.116%	$258K	$1.3M	—	as long as short
edgeX XLMUSDC	+0.0100%	4h	0.2170	−0.111%	$12K	$301K	10x	as long as short
GRVT XLM_USDT_Perp	+0.0100%	8h	0.2171	−0.097%	$601K	$633K	10x	as long as short
ApeX Omni XLMUSDT	+0.0100%	1h	0.2175	+0.105%	$174K	$256K	50x	as long as short
Orderly PERP_XLM_USDC_mythosshort	+0.0100%	4h	0.2169	−0.171%	$3K	$2K	10x
SunX XLM-USDT	+0.0100%	8h	0.2166	−0.328%	$2K	$1.7M	20x	as long as short
SoDEX XLM-USD	+0.0100%	1h	0.2169	−0.153%	$2K	$6K	5x	as long as short
HTX XLM-USDT	+0.0100%	8h	0.2169	−0.190%	$200K	$261K	20x	as long as short
Phemex XLMUSDT	+0.0100%	8h	0.2170	−0.111%	$9.1M	$9.0M	50x	as long as short
Extended XLM-USD	+0.0104%	1h	0.2173	+0.003%	$194K	$1.6M	10x	as long as short
BloFin XLM-USDT	+0.0220%	8h	0.2169	−0.153%	$2.3M	$5.6M	75x	as long as short
Phoenix XLM	+0.0222%	1h	0.2169	−0.157%	$5K	$42K	5x	as long as short
GMX XLM/USD [WBTC.b-USDC]	L +0.0316% / S −0.0167%	1h	0.2166	−0.292%	$45K	—	100x	as long as short
Kraken Futures PF_XLMUSD	+0.0411%	1h	0.2170	−0.137%	$2.6M	$2.6M	50x	as long as short
Coinbase International XLM-PERP-INTX	+0.0448%	1h	0.2169	−0.153%	$233K	$1.5M	50x	as long as short
Hyperliquid XLM	+0.0563%	1h	0.2177	+0.192%	$12.4M	$6.1M	5x	as long as short
Lighter XLM	+0.0616%	1h	0.2178	+0.257%	$421K	$809K	5x	as long as short
Deribit XLM_USDC-PERPETUAL	+0.0811%	1h	0.2170	−0.116%	$539K	$160K	25x	as long as short