XLM

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0010%/8h= −1.1% APRnext payment −$0.01 per $10,000 · paid last 24h −0.042%

Price spread now: Phoenix against Hyperliquid+0.498%7-day average — · you sell dearer than you buy

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

Long on Hyperliquid 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—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

The price spread pays, funding is against you. Phoenix is 0.498% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.498% now, against zero (this spread has no 7-day history yet)): +$50 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 6 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid XLM	0.2127	0.0197	pay 0.0025% / 1h	53m 21s	$12.2M	$6.4M	5x
Short	Phoenix XLM	0.2137	0.0187	get 0.0023% / 1h	53m 21s	$5K	$46K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Hyperliquid. 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 HyperliquidbpFee PhoenixbpOrdersPrice spread, now +0.498%Rate

Funding earned: −$2.08
Price spread: +0.498% → 0.000%: $49.84
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $31.76
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Hyperliquid: live order book, 9 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 Hyperliquid live order book, 9 min ago	0.93 bp	10.0 bp −$10	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
dYdX XLM-USD	0.0000%	1h	0.2122	−0.239%	$23K	$2K	10x	as long as short
gTrade (Gains Network) XLM/USD	L 0.0000% / S +0.0002%	1h	0.2126	−0.058%	$4K	—	150x	as long as short
Injective XLM/USDC PERP	+0.0033%	1h	0.2125	−0.089%	$683	$241K	12x	as long as short
Lighter XLM	+0.0096%	1h	0.2123	−0.202%	$372K	$872K	5x	as long as short
Binance XLMUSDT	+0.0100%	8h	0.2127	−0.005%	$54.2M	$153.7M	75x	as long as short
Bybit XLMUSDT	+0.0100%	8h	0.2127	−0.019%	$42.9M	$45.7M	75x	as long as short
OKX XLM-USDT-SWAP	+0.0100%	8h	0.2127	−0.014%	$12.8M	$41.4M	50x	as long as short
Gate XLM_USDT	+0.0100%	8h	0.2125	−0.075%	$4.0M	$6.4M	75x	as long as short
MEXC XLM_USDT	+0.0100%	8h	0.2127	+0.014%	$24.1M	$26.2M	300x	as long as short
KuCoin XLMUSDTM	+0.0100%	8h	0.2125	−0.080%	$14.1M	$10.1M	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	0.2127	+0.005%	$25.3M	$20.3M	75x	as long as short
BingX XLM-USDC	+0.0100%	8h	0.2126	−0.028%	—	$6.7M	—	as long as short
Backpack XLM_USDC_PERP	+0.0100%	1h	0.2124	−0.160%	$88K	$263K	20x	as long as short
Variational Omni XLM	+0.0100%	8h	0.2119	−0.363%	$253K	$1.3M	—	as long as short
edgeX XLMUSDC	+0.0100%	4h	0.2133	+0.275%	$12K	$301K	10x	as long as short
GRVT XLM_USDT_Perp	+0.0100%	8h	0.2121	−0.296%	$590K	$597K	10x	as long as short
ApeX Omni XLMUSDT	+0.0100%	1h	0.2129	+0.108%	$171K	$258K	50x	as long as short
Orderly PERP_XLM_USDC_mythos	+0.0100%	4h	0.2127	+0.005%	$3K	$2K	10x	as long as short
SunX XLM-USDT	+0.0100%	8h	0.2115	−0.536%	$2K	$1.7M	20x	as long as short
SoDEX XLM-USD	+0.0100%	1h	0.2122	−0.207%	$2K	$6K	5x	as long as short
HTX XLM-USDT	+0.0100%	8h	0.2119	−0.357%	$196K	$268K	20x	as long as short
Extended XLM-USD	+0.0104%	1h	0.2123	−0.206%	$190K	$1.7M	10x	as long as short
Aster XLMUSDT	+0.0132%	8h	0.2123	−0.175%	$569K	$625K	75x	as long as short
Phoenix XLMshort	+0.0187%	1h	0.2137	+0.498%	$5K	$46K	5x
Hyperliquid XLMlong	+0.0197%	1h	0.2127	long leg	$12.2M	$6.4M	5x
BloFin XLM-USDT	+0.0220%	8h	0.2120	−0.310%	$2.3M	$5.2M	75x	as long as short
Phemex XLMUSDT	+0.0223%	8h	0.2123	−0.193%	$8.9M	$9.0M	50x	as long as short
GMX XLM/USD [WBTC.b-USDC]	L +0.0250% / S −0.0198%	1h	0.2125	−0.070%	$45K	—	100x	as long as short
Kraken Futures PF_XLMUSD	+0.0381%	1h	0.2123	−0.181%	$2.6M	$2.6M	50x	as long as short
Coinbase International XLM-PERP-INTX	+0.0440%	1h	0.2120	−0.315%	$234K	$1.5M	50x	as long as short
Deribit XLM_USDC-PERPETUAL	+0.0600%	1h	0.2120	−0.320%	$526K	$150K	25x	as long as short