Funding arb · Price arb /

XLM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0418%/8h= −45.8% APRpaid last 24h −0.059%

Price spread now: Bybit against GMX+0.069%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 Bybit

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. Bybit is 0.069% dearer against GMX than usual: you sell high and buy low (spread +0.069% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 13 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX XLM/USD [WBTC.b-USDC]	0.2135	L +0.0518% / S −0.0247%	pay 0.0065% / 1h	55m 58s	$39K	—	100x
Short	Bybit XLMUSDT	0.2136	0.0100	get 0.0100% / 8h	3h 55m	$43.1M	$45.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.069%Rate

Funding earned: −$87.87
Price spread: +0.069% → 0.000%: $6.93
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$103.94
Costs to cover: 0.230%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Bybit: 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 Bybit live order book, 3 min ago	2.34 bp	8.8 bp −$9	16.0 bp −$160	58.7 bp −$5,874	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
gTrade (Gains Network) XLM/USD	L 0.0000% / S +0.0002%	1h	0.2134	−0.011%	$4K	—	150x	as long as short
Injective XLM/USDC PERP	+0.0033%	1h	0.2125	−0.455%	$683	$241K	12x	as long as short
dYdX XLM-USD	+0.0060%	1h	0.2133	−0.099%	$23K	$2K	10x	as long as short
Lighter XLM	+0.0096%	1h	0.2140	+0.247%	$370K	$960K	5x	as long as short
Aster XLMUSDT	+0.0100%	8h	0.2136	+0.062%	$568K	$622K	75x	as long as short
Binance XLMUSDT	+0.0100%	8h	0.2137	+0.100%	$54.6M	$155.6M	75x	as long as short
Bybit XLMUSDTshort	+0.0100%	8h	0.2136	+0.069%	$43.1M	$45.7M	75x
OKX XLM-USDT-SWAP	+0.0100%	8h	0.2137	+0.126%	$12.5M	$42.7M	50x	as long as short
Gate XLM_USDT	+0.0100%	8h	0.2135	+0.022%	$4.0M	$6.8M	75x	as long as short
MEXC XLM_USDT	+0.0100%	8h	0.2136	+0.051%	$23.8M	$26.8M	300x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin XLMUSDTM	+0.0100%	8h	0.2136	+0.041%	$14.1M	$9.5M	75x	as long as short
Bitget XLMUSDT	+0.0100%	8h	0.2135	+0.027%	$25.8M	$21.5M	75x	as long as short
BingX XLM-USDC	+0.0100%	8h	0.2136	+0.074%	—	$6.7M	—	as long as short
Variational Omni XLM	+0.0100%	8h	0.2137	+0.113%	$255K	$1.3M	—	as long as short
edgeX XLMUSDC	+0.0100%	4h	0.2136	+0.041%	$12K	$304K	10x	as long as short
GRVT XLM_USDT_Perp	+0.0100%	8h	0.2134	−0.033%	$590K	$600K	10x	as long as short
ApeX Omni XLMUSDT	+0.0100%	1h	0.2136	+0.041%	$171K	$258K	50x	as long as short
Orderly PERP_XLM_USDC_mythos	+0.0100%	4h	0.2138	+0.154%	$3K	$2K	10x	as long as short
SunX XLM-USDT	+0.0100%	8h	0.2133	−0.076%	$2K	$1.6M	20x	as long as short
SoDEX XLM-USD	+0.0100%	1h	0.2138	+0.154%	$582	$6K	5x	as long as short
HTX XLM-USDT	+0.0100%	8h	0.2134	−0.038%	$197K	$253K	20x	as long as short
Phemex XLMUSDT	+0.0100%	8h	0.2138	+0.149%	$9.0M	$8.9M	50x	as long as short
Extended XLM-USD	+0.0104%	1h	0.2135	+0.014%	$190K	$1.8M	10x	as long as short
Hyperliquid XLM	+0.0179%	1h	0.2139	+0.191%	$12.3M	$6.3M	5x	as long as short
Kraken Futures PF_XLMUSD	+0.0185%	1h	0.2138	+0.146%	$2.6M	$2.7M	50x	as long as short
BloFin XLM-USDT	+0.0220%	8h	0.2137	+0.088%	$2.3M	$5.1M	75x	as long as short
Phoenix XLM	+0.0225%	1h	0.2137	+0.116%	$5K	$46K	5x	as long as short
Backpack XLM_USDC_PERP	+0.0437%	1h	0.2138	+0.135%	$126K	$290K	20x	as long as short
Coinbase International XLM-PERP-INTX	+0.0464%	1h	0.2137	+0.116%	$239K	$1.5M	50x	as long as short
GMX XLM/USD [WBTC.b-USDC]long	L +0.0518% / S −0.0247%	1h	0.2135	long leg	$39K	—	100x
Deribit XLM_USDC-PERPETUAL	+0.1107%	1h	0.2139	+0.210%	$531K	$153K	25x	as long as short