Funding you earn now, next payment 04:00 UTC+0.0850%/8h= +93.0% APRnext payment +$1.06 per $10,000 · paid last 24h +0.317%
Price spread now: Deribit against Injective−0.231%7-day average +0.215% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.405%+$40 on $10k
+Price spread, last 4 days (all we have)+0.408%+$41 · spread now −0.231%, 7d avg +0.215%
=Funding pays, the price is against you. Deribit is 0.446% cheaper against Injective than usual: you would sell low and buy high (spread −0.231% now, against its 7-day average of +0.215%). If the spread goes back, that is −$45 on $10k: about 42 hours of funding at the current rate (+$25 a day). At the pace of the last 7 days (+0.405% in total) that is about 7.7 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.405% in total (about 21.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.06 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| 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 | 46m 38s | $683 | $241K | 12x |
| Short | Deribit XLM_USDC-PERPETUAL | 0.2120 | 0.0883 | get 0.0110% / 1h | 46m 38s | $526K | $153K | 25x |
Injective XLM/USDC PERP
Deribit XLM_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- $178.43
- Price spread: −0.231% → +0.215%
- −$44.59
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $126.82
- Costs to cover
- 0.070%
- Break-even
- 2.0 days
Slippage unknown: Injective: no order-book sample; Deribit: live order book, 12 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 Deribit live order book, 12 min ago | 3.05 bp | 11.2 bp −$11 | 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 | 0.2118 | −0.310% | $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 | 0.2122 | −0.165% | $371K | $961K | 5x | as long as short |
| Hyperliquid XLM | +0.0100% | 1h | 0.2120 | −0.249% | $12.2M | $6.2M | 5x | as long as short |
| Aster XLMUSDT | +0.0100% | 8h | 0.2119 | −0.267% | $563K | $625K | 75x | as long as short |
| Binance XLMUSDT | +0.0100% | 8h | 0.2121 | −0.190% | $54.1M | $154.7M | 75x | as long as short |
| Bybit XLMUSDT | +0.0100% | 8h | 0.2120 | −0.216% | $42.8M | $45.6M | 75x | as long as short |
| OKX XLM-USDT-SWAP | +0.0100% | 8h | 0.2121 | −0.193% | $12.4M | $42.2M | 50x | as long as short |
| Gate XLM_USDT | +0.0100% | 8h | 0.2119 | −0.259% | $4.0M | $6.8M | 75x | as long as short |
| MEXC XLM_USDT | +0.0100% | 8h | 0.2121 | −0.188% | $23.7M | $26.7M | 300x | as long as short |
gTrade (Gains Network) XLM/USD
Lighter XLM
Hyperliquid XLM
Aster XLMUSDT
Binance XLMUSDT
Bybit XLMUSDT
OKX XLM-USDT-SWAP
Gate XLM_USDT
MEXC XLM_USDTShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin XLMUSDTM | +0.0100% | 8h | 0.2119 | −0.292% | $14.0M | $9.7M | 75x | as long as short |
| Bitget XLMUSDT | +0.0100% | 8h | 0.2120 | −0.235% | $25.5M | $21.2M | 75x | as long as short |
| BingX XLM-USDC | +0.0100% | 8h | 0.2121 | −0.198% | — | $6.7M | — | as long as short |
| Backpack XLM_USDC_PERP | +0.0100% | 1h | 0.2119 | −0.278% | $95K | $274K | 20x | as long as short |
| Variational Omni XLM | +0.0100% | 8h | 0.2120 | −0.229% | $254K | $1.3M | — | as long as short |
| edgeX XLMUSDC | +0.0100% | 4h | 0.2119 | −0.281% | $12K | $305K | 10x | as long as short |
| GRVT XLM_USDT_Perp | +0.0100% | 8h | 0.2120 | −0.246% | $591K | $595K | 10x | as long as short |
| ApeX Omni XLMUSDT | +0.0100% | 1h | 0.2118 | −0.329% | $170K | $258K | 50x | as long as short |
| Orderly PERP_XLM_USDC_mythos | +0.0100% | 4h | 0.2119 | −0.282% | $3K | $2K | 10x | as long as short |
| SunX XLM-USDT | +0.0100% | 8h | 0.2117 | −0.362% | $2K | $1.6M | 20x | as long as short |
| SoDEX XLM-USD | +0.0100% | 1h | 0.2118 | −0.339% | $577 | $6K | 5x | as long as short |
| HTX XLM-USDT | +0.0100% | 8h | 0.2118 | −0.320% | $196K | $252K | 20x | as long as short |
| Phemex XLMUSDT | +0.0100% | 8h | 0.2119 | −0.296% | $8.9M | $8.9M | 50x | as long as short |
| Extended XLM-USD | +0.0104% | 1h | 0.2120 | −0.219% | $189K | $1.8M | 10x | as long as short |
| BloFin XLM-USDT | +0.0220% | 8h | 0.2118 | −0.325% | $2.3M | $5.0M | 75x | as long as short |
| Phoenix XLM | +0.0225% | 1h | 0.2121 | −0.193% | $5K | $46K | 5x | as long as short |
| Kraken Futures PF_XLMUSD | +0.0266% | 1h | 0.2118 | −0.328% | $2.6M | $2.6M | 50x | as long as short |
| dYdX XLM-USD | +0.0295% | 1h | 0.2120 | −0.253% | $23K | $2K | 10x | as long as short |
| Coinbase International XLM-PERP-INTX | +0.0480% | 1h | 0.2120 | −0.249% | $233K | $1.5M | 50x | as long as short |
| GMX XLM/USD [WBTC.b-USDC] | L +0.0517% / S −0.0193% | 1h | 0.2119 | −0.295% | $44K | — | 100x | as long as short |
| Deribit XLM_USDC-PERPETUALshort | +0.0883% | 1h | 0.2120 | −0.231% | $526K | $153K | 25x |
KuCoin XLMUSDTM
Bitget XLMUSDT
BingX XLM-USDC
Backpack XLM_USDC_PERP
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
Phoenix XLM
Kraken Futures PF_XLMUSD
dYdX XLM-USD
Coinbase International XLM-PERP-INTX
GMX XLM/USD [WBTC.b-USDC]