Funding arb · Price arb /

XLM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0405%/8h= +44.4% APRpaid last 24h +0.034%

Price spread now: Kraken Futures against Gate−0.051%51s7-day average +0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$670.674% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.139%−$14 on $10k

Price spread, last 3 days (all we have)+0.011%+$1 · spread now −0.051%, 7d avg +0.023%

Together, before fees−0.128%−$13 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.074% cheaper against Gate than usual: you would sell low and buy high (spread −0.051% now, against its 7-day average of +0.023%). If the spread goes back, that is −$7 on $10k: about 15 hours of funding at the current rate (+$12 a day). Mind the row above: over the last 7 days funding on this pair cost −0.139%, so the current rate has only just turned in your favour. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.139% in total (about -7.3% 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	Gate XLM_USDT	0.2165	0.0100	pay 0.0100% / 8h	1h 28m	$4.1M	$6.2M	75x
Short	Kraken Futures PF_XLMUSD	0.2163	0.0505	get 0.0063% / 1h	28m 21s	$2.6M	$2.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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 GatebpFee Kraken FuturesbpOrdersPrice spread, now −0.051%Rate

Funding earned: $85.09
Price spread: −0.051% → +0.023%: −$7.4
Slippage, 4 orders: −$42.44
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $10.25
Costs to cover: 0.674%
Break-even: 6.2 days

Slippage from Gate: live order book, 5 min ago; Kraken Futures: 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 Gate live order book, 5 min ago	2.08 bp	15.3 bp −$15	39.4 bp −$394	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 5 min ago	8.53 bp	20.0 bp −$20	33.8 bp −$338	133.0 bp −$13.3K	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	0.2162	−0.138%	$4K	—	150x	as long as short
dYdX XLM-USD	+0.0013%	1h	0.2164	−0.045%	$23K	$3K	10x	as long as short
Aster XLMUSDT	+0.0100%	8h	0.2165	+0.036%	$587K	$804K	75x	as long as short
Binance XLMUSDT	+0.0100%	8h	0.2163	−0.083%	$56.2M	$150.9M	75x	as long as short
Bybit XLMUSDT	+0.0100%	8h	0.2162	−0.120%	$43.9M	$43.7M	75x	as long as short
OKX XLM-USDT-SWAP	+0.0100%	8h	0.2161	−0.157%	$13.1M	$42.3M	50x	as long as short
Gate XLM_USDTlong	+0.0100%	8h	0.2165	long leg	$4.1M	$6.2M	75x
MEXC XLM_USDT	+0.0100%	8h	0.2162	−0.120%	$26.1M	$26.3M	300x	as long as short
KuCoin XLMUSDTM	+0.0100%	8h	0.2163	−0.092%	$14.5M	$10.6M	75x	as long as short
Bitget XLMUSDT	+0.0100%	8h	0.2163	−0.074%	$25.8M	$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	0.2162	−0.115%	—	$7.0M	—	as long as short
Variational Omni XLM	+0.0100%	8h	0.2160	−0.202%	$297K	$1.2M	—	as long as short
edgeX XLMUSDC	+0.0100%	4h	0.2169	+0.181%	$12K	$300K	10x	as long as short
GRVT XLM_USDT_Perp	+0.0100%	8h	0.2158	−0.318%	$598K	$617K	10x	as long as short
ApeX Omni XLMUSDT	+0.0100%	1h	0.2166	+0.051%	$174K	$256K	50x	as long as short
Orderly PERP_XLM_USDC_mythos	+0.0100%	4h	0.2162	−0.120%	$3K	$2K	10x	as long as short
SunX XLM-USDT	+0.0100%	8h	0.2161	−0.185%	$2K	$1.7M	20x	as long as short
SoDEX XLM-USD	+0.0100%	1h	0.2162	−0.097%	$2K	$6K	5x	as long as short
HTX XLM-USDT	+0.0100%	8h	0.2161	−0.148%	$200K	$273K	20x	as long as short
Phemex XLMUSDT	+0.0100%	8h	0.2162	−0.102%	$9.1M	$9.1M	50x	as long as short
Extended XLM-USD	+0.0104%	1h	0.2161	−0.170%	$193K	$1.6M	10x	as long as short
Backpack XLM_USDC_PERP	+0.0188%	1h	0.2163	−0.065%	$102K	$261K	20x	as long as short
BloFin XLM-USDT	+0.0220%	8h	0.2161	−0.152%	$2.4M	$6.0M	75x	as long as short
Phoenix XLM	+0.0221%	1h	0.2162	−0.139%	$5K	$41K	5x	as long as short
Hyperliquid XLM	+0.0306%	1h	0.2166	+0.079%	$12.3M	$6.1M	5x	as long as short
GMX XLM/USD [WBTC.b-USDC]	L +0.0316% / S −0.0167%	1h	0.2161	−0.163%	$45K	—	100x	as long as short
Coinbase International XLM-PERP-INTX	+0.0432%	1h	0.2159	−0.273%	$232K	$1.5M	50x	as long as short
Lighter XLM	+0.0464%	1h	0.2169	+0.222%	$419K	$812K	5x	as long as short
Injective XLM/USDC PERP	+0.0475%	1h	0.2033	−6.080%	$5K	$238K	12x	as long as short
Kraken Futures PF_XLMUSDshort	+0.0505%	1h	0.2163	−0.051%	$2.6M	$2.7M	50x
Deribit XLM_USDC-PERPETUAL	+0.0814%	1h	0.2165	+0.005%	$537K	$176K	25x	as long as short