Funding arb · Price arb /

XLM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0212%/8h= −23.2% APRpaid last 24h −0.050%

Price spread now: Bitget against GMX+0.048%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 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

The price spread pays, funding is against you. Bitget is 0.048% dearer against GMX than usual: you sell high and buy low (spread +0.048% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 18 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX XLM/USD [WBTC.b-USDC]	0.2130	L +0.0312% / S −0.0166%	pay 0.0039% / 1h	31m 11s	$44K	—	100x
Short	Bitget XLMUSDT	0.2131	0.0100	get 0.0100% / 8h	2h 31m	$25.5M	$17.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against GMX. 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 GMXbpFee BitgetbpOrdersPrice spread, now +0.048%Rate

Funding earned: −$44.48
Price spread: +0.048% → 0.000%: $4.79
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$63.69
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Bitget: live order book, 3 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell Bitget live order book, 3 min ago	1.41 bp	9.4 bp −$9	18.4 bp −$184	47.3 bp −$4,731	doesn't fit

GMX: 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
dYdX XLM-USD	0.0000%	1h	0.2130	+0.026%	$23K	$3K	10x	as long as short
gTrade (Gains Network) XLM/USD	L 0.0000% / S +0.0002%	1h	0.2130	+0.004%	$4K	—	150x	as long as short
Aster XLMUSDT	+0.0100%	8h	0.2130	+0.019%	$585K	$790K	75x	as long as short
Binance XLMUSDT	+0.0100%	8h	0.2131	+0.062%	$55.0M	$145.0M	75x	as long as short
Bybit XLMUSDT	+0.0100%	8h	0.2130	+0.015%	$43.3M	$40.9M	75x	as long as short
OKX XLM-USDT-SWAP	+0.0100%	8h	0.2130	+0.034%	$12.9M	$40.3M	50x	as long as short
Gate XLM_USDT	+0.0100%	8h	0.2130	+0.020%	$3.9M	$5.9M	75x	as long as short
MEXC XLM_USDT	+0.0100%	8h	0.2131	+0.043%	$25.0M	$25.1M	300x	as long as short
KuCoin XLMUSDTM	+0.0100%	8h	0.2130	+0.020%	$14.3M	$10.3M	75x	as long as short
Bitget XLMUSDTshort	+0.0100%	8h	0.2131	+0.048%	$25.5M	$17.9M	75x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX XLM-USDC	+0.0100%	8h	0.2130	+0.034%	—	$6.7M	—	as long as short
Backpack XLM_USDC_PERP	+0.0100%	1h	0.2131	+0.076%	$102K	$222K	20x	as long as short
Variational Omni XLM	+0.0100%	8h	0.2131	+0.082%	$206K	$1.1M	—	as long as short
edgeX XLMUSDC	+0.0100%	4h	0.2129	−0.035%	$11K	$299K	10x	as long as short
GRVT XLM_USDT_Perp	+0.0100%	8h	0.2131	+0.085%	$597K	$620K	10x	as long as short
ApeX Omni XLMUSDT	+0.0100%	1h	0.2128	−0.088%	$170K	$255K	50x	as long as short
Orderly PERP_XLM_USDC_mythos	+0.0100%	4h	0.2130	+0.015%	$3K	$2K	10x	as long as short
SunX XLM-USDT	+0.0100%	8h	0.2129	−0.051%	$2K	$1.7M	20x	as long as short
SoDEX XLM-USD	+0.0100%	1h	0.2130	+0.039%	$2K	$6K	5x	as long as short
HTX XLM-USDT	+0.0100%	8h	0.2131	+0.081%	$199K	$267K	20x	as long as short
Phemex XLMUSDT	+0.0100%	8h	0.2130	+0.034%	$8.9M	$9.0M	50x	as long as short
Extended XLM-USD	+0.0104%	1h	0.2131	+0.042%	$191K	$1.6M	10x	as long as short
Phoenix XLM	+0.0187%	1h	0.2131	+0.043%	$5K	$43K	5x	as long as short
BloFin XLM-USDT	+0.0220%	8h	0.2131	+0.053%	$2.3M	$6.2M	75x	as long as short
Hyperliquid XLM	+0.0226%	1h	0.2133	+0.137%	$11.9M	$5.8M	5x	as long as short
Injective XLM/USDC PERP	+0.0249%	1h	0.2127	−0.126%	$476	$154K	12x	as long as short
GMX XLM/USD [WBTC.b-USDC]long	L +0.0312% / S −0.0166%	1h	0.2130	long leg	$44K	—	100x
Coinbase International XLM-PERP-INTX	+0.0408%	1h	0.2127	−0.102%	$228K	$1.5M	50x	as long as short
Kraken Futures PF_XLMUSD	+0.0554%	1h	0.2132	+0.094%	$2.6M	$2.6M	50x	as long as short
Deribit XLM_USDC-PERPETUAL	+0.0642%	1h	0.2132	+0.123%	$529K	$168K	25x	as long as short
Lighter XLM	+0.0728%	1h	0.2135	+0.273%	$426K	$788K	5x	as long as short