Funding you earn now, next payment 08:00 UTC+0.0076%/8h= +8.4% APRnext payment +$0.10 per $10,000 · paid last 24h +0.188%
Price spread now: Backpack against Injective−0.659%72s7-day average +0.145% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.261%+$26 on $10k
+Price spread, last 4 days (all we have)+0.690%+$69 · spread now −0.659%, 7d avg +0.145%
=Funding pays, the price is against you. Backpack is 0.804% cheaper against Injective than usual: you would sell low and buy high (spread −0.659% now, against its 7-day average of +0.145%). If the spread goes back, that is −$80 on $10k: about 35 days of funding at the current rate (+$2 a day). The two prices were read 72 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 | Injective XLM/USDC PERP | 0.2125 | 0.0033 | pay 0.0004% / 1h | 23m 52s | $683 | $241K | 12x |
| Short | Backpack XLM_USDC_PERP | 0.2111 | 0.0110 | get 0.0014% / 1h | 23m 52s | $129K | $342K | 20x |
Injective XLM/USDC PERP
Backpack XLM_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Injective. 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
- $16.05
- Price spread: −0.659% → +0.145%
- −$80.4
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$74.37
- Costs to cover
- 0.100%
- Break-even
- 39.4 days
Slippage unknown: Injective: no order-book sample; Backpack: live order book, 15 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 Injective no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 15 min ago | 1.42 bp | 9.1 bp −$9 | doesn't fit | doesn't fit | doesn't fit |
Injective: 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 | 0.2110 | −0.727% | $4K | — | 150x | as long as short |
| Injective XLM/USDC PERPlong | +0.0033% | 1h | 0.2125 | long leg | $683 | $241K | 12x | |
| Lighter XLM | +0.0096% | 1h | 0.2114 | −0.541% | $364K | $942K | 5x | as long as short |
| Aster XLMUSDT | +0.0100% | 8h | 0.2111 | −0.636% | $559K | $596K | 75x | as long as short |
| Binance XLMUSDT | +0.0100% | 8h | 0.2111 | −0.653% | $54.1M | $159.6M | 75x | as long as short |
| Bybit XLMUSDT | +0.0100% | 8h | 0.2110 | −0.706% | $42.9M | $46.5M | 75x | as long as short |
| OKX XLM-USDT-SWAP | +0.0100% | 8h | 0.2110 | −0.701% | $12.1M | $44.5M | 50x | as long as short |
| Gate XLM_USDT | +0.0100% | 8h | 0.2110 | −0.696% | $3.9M | $7.7M | 75x | as long as short |
| MEXC XLM_USDT | +0.0100% | 8h | 0.2111 | −0.673% | $24.0M | $29.1M | 300x | as long as short |
| KuCoin XLMUSDTM | +0.0100% | 8h | 0.2110 | −0.696% | $14.0M | $9.3M | 75x | as long as short |
gTrade (Gains Network) XLM/USD
Lighter XLM
Aster XLMUSDT
Binance XLMUSDT
Bybit XLMUSDT
OKX XLM-USDT-SWAP
Gate XLM_USDT
MEXC XLM_USDT
KuCoin XLMUSDTMShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget XLMUSDT | +0.0100% | 8h | 0.2110 | −0.706% | $25.3M | $22.6M | 75x | as long as short |
| BingX XLM-USDC | +0.0100% | 8h | 0.2110 | −0.687% | — | $6.7M | — | as long as short |
| Variational Omni XLM | +0.0100% | 8h | 0.2110 | −0.701% | $251K | $1.3M | — | as long as short |
| edgeX XLMUSDC | +0.0100% | 4h | 0.2114 | −0.516% | $12K | $307K | 10x | as long as short |
| GRVT XLM_USDT_Perp | +0.0100% | 8h | 0.2112 | −0.607% | $584K | $562K | 10x | as long as short |
| ApeX Omni XLMUSDT | +0.0100% | 1h | 0.2114 | −0.541% | $169K | $264K | 50x | as long as short |
| Orderly PERP_XLM_USDC_mythos | +0.0100% | 4h | 0.2110 | −0.706% | $3K | $447 | 10x | as long as short |
| SunX XLM-USDT | +0.0100% | 8h | 0.2109 | −0.767% | $2K | $1.6M | 20x | as long as short |
| SoDEX XLM-USD | +0.0100% | 1h | 0.2111 | −0.668% | $575 | $6K | 5x | as long as short |
| HTX XLM-USDT | +0.0100% | 8h | 0.2116 | −0.424% | $195K | $221K | 20x | as long as short |
| Phemex XLMUSDT | +0.0100% | 8h | 0.2111 | −0.649% | $8.7M | $9.0M | 50x | as long as short |
| Extended XLM-USD | +0.0104% | 1h | 0.2110 | −0.716% | $189K | $1.3M | 10x | as long as short |
| Backpack XLM_USDC_PERPshort | +0.0110% | 1h | 0.2111 | −0.659% | $129K | $342K | 20x | |
| BloFin XLM-USDT | +0.0220% | 8h | 0.2111 | −0.659% | $2.3M | $5.4M | 75x | as long as short |
| dYdX XLM-USD | +0.0261% | 1h | 0.2111 | −0.657% | $23K | $2K | 10x | as long as short |
| Phoenix XLM | +0.0264% | 1h | 0.2115 | −0.471% | $4K | $50K | 5x | as long as short |
| Coinbase International XLM-PERP-INTX | +0.0376% | 1h | 0.2114 | −0.522% | $219K | $1.6M | 50x | as long as short |
| GMX XLM/USD [WBTC.b-USDC] | L +0.0517% / S −0.0247% | 1h | 0.2109 | −0.736% | $39K | — | 100x | as long as short |
| Kraken Futures PF_XLMUSD | +0.0552% | 1h | 0.2111 | −0.674% | $2.5M | $2.6M | 50x | as long as short |
| Hyperliquid XLM | +0.0576% | 1h | 0.2113 | −0.544% | $12.1M | $6.4M | 5x | as long as short |
| Deribit XLM_USDC-PERPETUAL | +0.0840% | 1h | 0.2112 | −0.588% | $524K | $172K | 25x | as long as short |
Bitget XLMUSDT
BingX XLM-USDC
Variational Omni XLM
edgeX XLMUSDC
GRVT XLM_USDT_Perp
ApeX Omni XLMUSDT
Orderly PERP_XLM_USDC_mythos
SunX XLM-USDT
SoDEX XLM-USD
HTX XLM-USDT
Phemex XLMUSDT
Extended XLM-USD
BloFin XLM-USDT
dYdX XLM-USD
Phoenix XLM
Coinbase International XLM-PERP-INTX
GMX XLM/USD [WBTC.b-USDC]
Kraken Futures PF_XLMUSD
Hyperliquid XLM
Deribit XLM_USDC-PERPETUAL