Funding arb · Price arb /

XLM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0126%/8h= +13.8% APRpaid last 24h +0.018%

Price spread now: Phoenix against HTX−0.076%48s7-day average — · you buy dearer than you sell

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

Long on HTX Short on Phoenix

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. Phoenix is 0.076% cheaper against HTX than usual: you would sell low and buy high (spread −0.076% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 2.0 days of funding at the current rate (+$4 a day). The two prices were read 48 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	HTX XLM-USDT	0.2111	0.0100	pay 0.0100% / 8h	2h 19m	$195K	$251K	20x
Short	Phoenix XLM	0.2109	0.0226	get 0.0028% / 1h	19m 21s	$4K	$49K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against HTX. 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 HTXbpFee PhoenixbpOrdersPrice spread, now −0.076%Rate

Funding earned: $26.46
Price spread: −0.076% → 0.000%: −$7.58
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$0.12
Costs to cover: 0.190%
Break-even: 7.0 days

Slippage unknown: HTX: live order book, 27 min ago; Phoenix: 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 HTX live order book, 27 min ago	10.41 bp	18.2 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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	0.2113	+0.122%	$4K	—	150x	as long as short
Injective XLM/USDC PERP	+0.0033%	1h	0.2125	+0.668%	$683	$241K	12x	as long as short
Lighter XLM	+0.0096%	1h	0.2116	+0.227%	$354K	$993K	5x	as long as short
Aster XLMUSDT	+0.0100%	8h	0.2113	+0.106%	$560K	$630K	75x	as long as short
Binance XLMUSDT	+0.0100%	8h	0.2116	+0.253%	$54.1M	$161.7M	75x	as long as short
Bybit XLMUSDT	+0.0100%	8h	0.2114	+0.128%	$42.7M	$47.4M	75x	as long as short
OKX XLM-USDT-SWAP	+0.0100%	8h	0.2116	+0.223%	$12.2M	$44.2M	50x	as long as short
Gate XLM_USDT	+0.0100%	8h	0.2114	+0.137%	$3.9M	$7.6M	75x	as long as short
MEXC XLM_USDT	+0.0100%	8h	0.2116	+0.242%	$24.4M	$28.4M	300x	as long as short
KuCoin XLMUSDTM	+0.0100%	8h	0.2114	+0.166%	$13.8M	$9.4M	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	0.2114	+0.171%	$25.4M	$22.8M	75x	as long as short
BingX XLM-USDC	+0.0100%	8h	0.2115	+0.194%	—	$6.7M	—	as long as short
Backpack XLM_USDC_PERP	+0.0100%	1h	0.2113	+0.095%	$131K	$314K	20x	as long as short
Variational Omni XLM	+0.0100%	8h	0.2105	−0.273%	$251K	$1.3M	—	as long as short
edgeX XLMUSDC	+0.0100%	4h	0.2108	−0.131%	$12K	$307K	10x	as long as short
GRVT XLM_USDT_Perp	+0.0100%	8h	0.2103	−0.385%	$583K	$615K	10x	as long as short
ApeX Omni XLMUSDT	+0.0100%	1h	0.2099	−0.583%	$168K	$265K	50x	as long as short
Orderly PERP_XLM_USDC_mythos	+0.0100%	4h	0.2115	+0.194%	$3K	$2K	10x	as long as short
SunX XLM-USDT	+0.0100%	8h	0.2114	+0.123%	$2K	$1.7M	20x	as long as short
SoDEX XLM-USD	+0.0100%	1h	0.2115	+0.199%	$576	$6K	5x	as long as short
HTX XLM-USDTlong	+0.0100%	8h	0.2111	long leg	$195K	$251K	20x
Phemex XLMUSDT	+0.0100%	8h	0.2111	0.000%	$8.8M	$9.0M	50x	as long as short
Extended XLM-USD	+0.0104%	1h	0.2115	+0.184%	$189K	$1.8M	10x	as long as short
Kraken Futures PF_XLMUSD	+0.0143%	1h	0.2115	+0.191%	$2.5M	$2.7M	50x	as long as short
Hyperliquid XLM	+0.0159%	1h	0.2116	+0.251%	$12.0M	$6.6M	5x	as long as short
dYdX XLM-USD	+0.0187%	1h	0.2111	+0.006%	$23K	$2K	10x	as long as short
BloFin XLM-USDT	+0.0220%	8h	0.2107	−0.185%	$2.3M	$5.5M	75x	as long as short
Phoenix XLMshort	+0.0226%	1h	0.2109	−0.076%	$4K	$49K	5x
Coinbase International XLM-PERP-INTX	+0.0456%	1h	0.2114	+0.147%	$226K	$1.6M	50x	as long as short
GMX XLM/USD [WBTC.b-USDC]	L +0.0517% / S −0.0228%	1h	0.2114	+0.141%	$40K	—	100x	as long as short
Deribit XLM_USDC-PERPETUAL	+0.1169%	1h	0.2117	+0.280%	$525K	$163K	25x	as long as short