Funding you earn now, next payment 03:00 UTC+0.0014%/8h= +1.5% APRpaid last 24h +0.001%
Price spread now: Backpack against GRVT+0.191%85s7-day average +0.012% · you sell dearer than you buy
Net, funding: paid 7d − costs−$38as 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−$400.396% of the position
Funding, last 7 days+0.011%+$1 on $10k
+Price spread, last 4 days (all we have)−0.371%−$37 · spread now +0.191%, 7d avg +0.012%
=Together, before fees−0.359%+ Points / potential airdropGRVT: Active · farm board−$36 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Backpack is 0.179% dearer against GRVT than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of +0.012%. The two prices were read 85 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GRVT XLM_USDT_Perp | 0.2144 | 0.0100 | pay 0.0100% / 8h | 5h 15m | $593K | $585K | 10x |
| Short | Backpack XLM_USDC_PERP | 0.2148 | 0.0114 | get 0.0014% / 1h | 15m 44s | $96K | $274K | 20x |
GRVT XLM_USDT_Perp
Backpack XLM_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against GRVT. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $2.92
- Price spread: +0.191% → +0.012%
- $17.88
- Slippage, 4 orders
- −$20.58
- Fee GRVT: 4.5 bp × 2 orders
- −$9
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$18.78
- Costs to cover
- 0.396%
- Break-even
- 52.0 days
Slippage from GRVT: live order book, 47 min ago; Backpack: live order book, 48 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 GRVT live order book, 47 min ago | 1.65 bp | 9.8 bp −$10 | 18.1 bp −$181 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 48 min ago | 0.24 bp | 8.5 bp −$8 | doesn't fit | 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 | 0.2149 | +0.247% | $4K | — | 150x | as long as short |
| Lighter XLM | +0.0096% | 1h | 0.2146 | +0.084% | $376K | $923K | 5x | as long as short |
| Binance XLMUSDT | +0.0100% | 8h | 0.2145 | +0.024% | $55.0M | $154.4M | 75x | as long as short |
| Bybit XLMUSDT | +0.0100% | 8h | 0.2144 | −0.014% | $43.3M | $45.7M | 75x | as long as short |
| OKX XLM-USDT-SWAP | +0.0100% | 8h | 0.2143 | −0.047% | $12.6M | $42.3M | 50x | as long as short |
| Gate XLM_USDT | +0.0100% | 8h | 0.2148 | +0.201% | $4.1M | $6.8M | 75x | as long as short |
| MEXC XLM_USDT | +0.0100% | 8h | 0.2144 | +0.014% | $24.2M | $27.0M | 300x | as long as short |
| KuCoin XLMUSDTM | +0.0100% | 8h | 0.2145 | +0.033% | $14.2M | $9.9M | 75x | as long as short |
| Bitget XLMUSDT | +0.0100% | 8h | 0.2143 | −0.042% | $25.7M | $21.1M | 75x | as long as short |
| BingX XLM-USDC | +0.0100% | 8h | 0.2144 | −0.019% | — | $6.7M | — | as long as short |
gTrade (Gains Network) XLM/USD
Lighter XLM
Binance XLMUSDT
Bybit XLMUSDT
OKX XLM-USDT-SWAP
Gate XLM_USDT
MEXC XLM_USDT
KuCoin XLMUSDTM
Bitget XLMUSDT
BingX XLM-USDCShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni XLM | +0.0100% | 8h | 0.2149 | +0.232% | $257K | $1.3M | — | as long as short |
| edgeX XLMUSDC | +0.0100% | 4h | 0.2144 | −0.026% | $12K | $304K | 10x | as long as short |
| GRVT XLM_USDT_Perplong | +0.0100% | 8h | 0.2144 | long leg | $593K | $585K | 10x | |
| ApeX Omni XLMUSDT | +0.0100% | 1h | 0.2146 | +0.107% | $172K | $257K | 50x | as long as short |
| Orderly PERP_XLM_USDC_mythos | +0.0100% | 4h | 0.2149 | +0.229% | $3K | $2K | 10x | as long as short |
| SunX XLM-USDT | +0.0100% | 8h | 0.2149 | +0.219% | $2K | $1.6M | 20x | as long as short |
| SoDEX XLM-USD | +0.0100% | 1h | 0.2149 | +0.215% | $2K | $6K | 5x | as long as short |
| HTX XLM-USDT | +0.0100% | 8h | 0.2146 | +0.079% | $198K | $252K | 20x | as long as short |
| Phemex XLMUSDT | +0.0100% | 8h | 0.2149 | +0.243% | $9.0M | $8.9M | 50x | as long as short |
| Aster XLMUSDT | +0.0101% | 8h | 0.2149 | +0.209% | $572K | $623K | 75x | as long as short |
| Extended XLM-USD | +0.0104% | 1h | 0.2143 | −0.042% | $191K | $1.8M | 10x | as long as short |
| Backpack XLM_USDC_PERPshort | +0.0114% | 1h | 0.2148 | +0.191% | $96K | $274K | 20x | |
| dYdX XLM-USD | +0.0216% | 1h | 0.2145 | +0.022% | $23K | $2K | 10x | as long as short |
| BloFin XLM-USDT | +0.0220% | 8h | 0.2146 | +0.107% | $2.3M | $5.0M | 75x | as long as short |
| Phoenix XLM | +0.0264% | 1h | 0.2145 | +0.051% | $5K | $46K | 5x | as long as short |
| Hyperliquid XLM | +0.0367% | 1h | 0.2147 | +0.131% | $12.4M | $6.2M | 5x | as long as short |
| Kraken Futures PF_XLMUSD | +0.0457% | 1h | 0.2149 | +0.243% | $2.6M | $2.7M | 50x | as long as short |
| Coinbase International XLM-PERP-INTX | +0.0464% | 1h | 0.2152 | +0.350% | $235K | $1.5M | 50x | as long as short |
| GMX XLM/USD [WBTC.b-USDC] | L +0.0520% / S −0.0193% | 1h | 0.2149 | +0.212% | $45K | — | 100x | as long as short |
| Deribit XLM_USDC-PERPETUAL | +0.0867% | 1h | 0.2151 | +0.317% | $534K | $153K | 25x | as long as short |
| Injective XLM/USDC PERP | +0.1081% | 1h | 0.2125 | −0.891% | $683 | $241K | 12x | as long as short |
Variational Omni XLM
edgeX XLMUSDC
ApeX Omni XLMUSDT
Orderly PERP_XLM_USDC_mythos
SunX XLM-USDT
SoDEX XLM-USD
HTX XLM-USDT
Phemex XLMUSDT
Aster XLMUSDT
Extended XLM-USD
dYdX XLM-USD
BloFin XLM-USDT
Phoenix XLM
Hyperliquid XLM
Kraken Futures PF_XLMUSD
Coinbase International XLM-PERP-INTX
GMX XLM/USD [WBTC.b-USDC]
Deribit XLM_USDC-PERPETUAL
Injective XLM/USDC PERP