Funding you earn now, next payment 08:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.181%
Price spread now: Phemex against Injective−0.136%65s7-day average +0.150% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.160%+$16 on $10k
+Price spread, last 4 days (all we have)+0.155%+$15 · spread now −0.136%, 7d avg +0.150%
=Funding pays, the price is against you. Phemex is 0.286% cheaper against Injective than usual: you would sell low and buy high (spread −0.136% now, against its 7-day average of +0.150%). If the spread goes back, that is −$29 on $10k: about 14 days of funding at the current rate (+$2 a day). The two prices were read 65 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 | 39m 40s | $683 | $241K | 12x |
| Short | Phemex XLMUSDT | 0.2122 | 0.0100 | get 0.0100% / 8h | 39m 40s | $8.7M | $9.0M | 50x |
Injective XLM/USDC PERP
Phemex XLMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- $14
- Price spread: −0.136% → +0.150%
- −$28.64
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$26.66
- Costs to cover
- 0.120%
- Break-even
- 20.3 days
Slippage unknown: Injective: no order-book sample; Phemex: live order book, 4 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 Phemex live order book, 4 min ago | 2.35 bp | 10.9 bp −$11 | 17.2 bp −$172 | 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 | 0.2121 | −0.168% | $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 | −0.132% | $366K | $941K | 5x | as long as short |
| Aster XLMUSDT | +0.0100% | 8h | 0.2121 | −0.182% | $563K | $595K | 75x | as long as short |
| Binance XLMUSDT | +0.0100% | 8h | 0.2120 | −0.229% | $54.4M | $161.8M | 75x | as long as short |
| Bybit XLMUSDT | +0.0100% | 8h | 0.2121 | −0.188% | $43.0M | $46.8M | 75x | as long as short |
| OKX XLM-USDT-SWAP | +0.0100% | 8h | 0.2120 | −0.231% | $12.1M | $44.6M | 50x | as long as short |
| Gate XLM_USDT | +0.0100% | 8h | 0.2119 | −0.268% | $3.9M | $7.7M | 75x | as long as short |
| MEXC XLM_USDT | +0.0100% | 8h | 0.2120 | −0.231% | $24.3M | $28.9M | 300x | as long as short |
| KuCoin XLMUSDTM | +0.0100% | 8h | 0.2120 | −0.254% | $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 | 0.2119 | −0.268% | $25.4M | $22.7M | 75x | as long as short |
| BingX XLM-USDT | +0.0100% | 8h | 0.2119 | −0.264% | — | $7.4M | — | as long as short |
| Variational Omni XLM | +0.0100% | 8h | 0.2127 | +0.098% | $254K | $1.3M | — | as long as short |
| edgeX XLMUSDC | +0.0100% | 4h | 0.2128 | +0.139% | $12K | $307K | 10x | as long as short |
| GRVT XLM_USDT_Perp | +0.0100% | 8h | 0.2127 | +0.113% | $588K | $577K | 10x | as long as short |
| ApeX Omni XLMUSDT | +0.0100% | 1h | 0.2127 | +0.108% | $170K | $264K | 50x | as long as short |
| Orderly PERP_XLM_USDC_mythos | +0.0100% | 4h | 0.2122 | −0.141% | $3K | $2K | 10x | as long as short |
| SunX XLM-USDT | +0.0100% | 8h | 0.2124 | −0.071% | $2K | $1.6M | 20x | as long as short |
| SoDEX XLM-USD | +0.0100% | 1h | 0.2122 | −0.160% | $578 | $6K | 5x | as long as short |
| HTX XLM-USDT | +0.0100% | 8h | 0.2126 | +0.052% | $196K | $249K | 20x | as long as short |
| Phemex XLMUSDTshort | +0.0100% | 8h | 0.2122 | −0.136% | $8.7M | $9.0M | 50x | |
| Extended XLM-USD | +0.0104% | 1h | 0.2119 | −0.288% | $190K | $1.4M | 10x | as long as short |
| BloFin XLM-USDT | +0.0220% | 8h | 0.2128 | +0.122% | $2.3M | $5.5M | 75x | as long as short |
| Phoenix XLM | +0.0264% | 1h | 0.2129 | +0.174% | $4K | $50K | 5x | as long as short |
| Backpack XLM_USDC_PERP | +0.0317% | 1h | 0.2122 | −0.151% | $130K | $347K | 20x | as long as short |
| dYdX XLM-USD | +0.0336% | 1h | 0.2120 | −0.232% | $23K | $2K | 10x | as long as short |
| Coinbase International XLM-PERP-INTX | +0.0376% | 1h | 0.2125 | 0.000% | $220K | $1.6M | 50x | as long as short |
| GMX XLM/USD [WBTC.b-USDC] | L +0.0518% / S −0.0247% | 1h | 0.2121 | −0.184% | $39K | — | 100x | as long as short |
| Kraken Futures PF_XLMUSD | +0.0549% | 1h | 0.2122 | −0.162% | $2.6M | $2.7M | 50x | as long as short |
| Deribit XLM_USDC-PERPETUAL | +0.0551% | 1h | 0.2123 | −0.094% | $526K | $172K | 25x | as long as short |
| Hyperliquid XLM | +0.0592% | 1h | 0.2123 | −0.089% | $12.1M | $6.4M | 5x | as long as short |
Bitget XLMUSDT
BingX XLM-USDT
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
Extended XLM-USD
BloFin XLM-USDT
Phoenix XLM
Backpack XLM_USDC_PERP
dYdX XLM-USD
Coinbase International XLM-PERP-INTX
GMX XLM/USD [WBTC.b-USDC]
Kraken Futures PF_XLMUSD
Deribit XLM_USDC-PERPETUAL
Hyperliquid XLM