Funding you earn now, next payment 04:00 UTC−0.0164%/8h= −17.9% APRnext payment −$0.20 per $10,000 · paid last 24h −0.046%
Price spread now: Backpack against Kraken Futures+0.049%51s7-day average −0.016% · you sell dearer than you buy
Net, funding: paid 7d − costs−$37as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$520.515% of the position
Funding, last 7 days+0.144%+$14 on $10k
+Price spread, last 4 days (all we have)+0.001%$0 · spread now +0.049%, 7d avg −0.016%
=The price spread pays, funding is against you. Backpack is 0.065% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.049% now, against its 7-day average of −0.016%): +$6 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 32 hours. Mind the row above: over the last 7 days funding on this pair paid +0.144%, so the current rate has only just turned against you. The two prices were read 51 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 | Kraken Futures PF_XLMUSD | 0.2140 | 0.0264 | pay 0.0033% / 1h | 26m 18s | $2.6M | $2.6M | 50x |
| Short | Backpack XLM_USDC_PERP | 0.2141 | 0.0100 | get 0.0013% / 1h | 26m 18s | $96K | $271K | 20x |
Kraken Futures PF_XLMUSD
Backpack XLM_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Kraken Futures. 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
- −$34.34
- Price spread: +0.049% → −0.016%
- $6.48
- Slippage, 4 orders
- −$31.53
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$79.4
- Costs to cover
- 0.515%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 2 min ago; Backpack: live order book, 32 min ago.
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 Kraken Futures live order book, 2 min ago | 6.76 bp | 15.3 bp −$15 | 23.3 bp −$233 | 79.2 bp −$7,920 | doesn't fit |
| Sell Backpack live order book, 32 min ago | 0.23 bp | 8.4 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
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 | 0.2137 | −0.134% | $4K | — | 150x | as long as short |
| Injective XLM/USDC PERP | +0.0033% | 1h | 0.2125 | −0.717% | $683 | $241K | 12x | as long as short |
| Lighter XLM | +0.0096% | 1h | 0.2142 | +0.077% | $370K | $967K | 5x | as long as short |
| Aster XLMUSDT | +0.0100% | 8h | 0.2139 | −0.052% | $569K | $625K | 75x | as long as short |
| Binance XLMUSDT | +0.0100% | 8h | 0.2141 | +0.018% | $54.8M | $155.0M | 75x | as long as short |
| Bybit XLMUSDT | +0.0100% | 8h | 0.2140 | −0.016% | $43.2M | $45.6M | 75x | as long as short |
| OKX XLM-USDT-SWAP | +0.0100% | 8h | 0.2141 | +0.035% | $12.5M | $42.6M | 50x | as long as short |
| Gate XLM_USDT | +0.0100% | 8h | 0.2138 | −0.119% | $4.1M | $6.8M | 75x | as long as short |
| MEXC XLM_USDT | +0.0100% | 8h | 0.2140 | −0.011% | $23.7M | $26.9M | 300x | as long as short |
| KuCoin XLMUSDTM | +0.0100% | 8h | 0.2140 | +0.007% | $14.1M | $9.6M | 75x | as long as short |
gTrade (Gains Network) XLM/USD
Injective XLM/USDC PERP
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 | 0.2140 | −0.002% | $25.8M | $21.3M | 75x | as long as short |
| BingX XLM-USDT | +0.0100% | 8h | 0.2138 | −0.110% | — | $7.3M | — | as long as short |
| Backpack XLM_USDC_PERPshort | +0.0100% | 1h | 0.2141 | +0.049% | $96K | $271K | 20x | |
| Variational Omni XLM | +0.0100% | 8h | 0.2143 | +0.130% | $257K | $1.3M | — | as long as short |
| edgeX XLMUSDC | +0.0100% | 4h | 0.2143 | +0.119% | $12K | $306K | 10x | as long as short |
| GRVT XLM_USDT_Perp | +0.0100% | 8h | 0.2148 | +0.364% | $597K | $592K | 10x | as long as short |
| ApeX Omni XLMUSDT | +0.0100% | 1h | 0.2145 | +0.241% | $172K | $258K | 50x | as long as short |
| Orderly PERP_XLM_USDC_mythos | +0.0100% | 4h | 0.2138 | −0.110% | $3K | $2K | 10x | as long as short |
| SunX XLM-USDT | +0.0100% | 8h | 0.2136 | −0.217% | $2K | $1.6M | 20x | as long as short |
| SoDEX XLM-USD | +0.0100% | 1h | 0.2140 | −0.002% | $583 | $6K | 5x | as long as short |
| HTX XLM-USDT | +0.0100% | 8h | 0.2141 | +0.031% | $198K | $253K | 20x | as long as short |
| Phemex XLMUSDT | +0.0100% | 8h | 0.2140 | −0.011% | $9.0M | $8.9M | 50x | as long as short |
| Extended XLM-USD | +0.0104% | 1h | 0.2139 | −0.074% | $191K | $1.8M | 10x | as long as short |
| Hyperliquid XLM | +0.0119% | 1h | 0.2141 | +0.040% | $12.3M | $6.2M | 5x | as long as short |
| dYdX XLM-USD | +0.0200% | 1h | 0.2139 | −0.082% | $23K | $2K | 10x | as long as short |
| BloFin XLM-USDT | +0.0220% | 8h | 0.2143 | +0.110% | $2.3M | $5.1M | 75x | as long as short |
| Phoenix XLM | +0.0225% | 1h | 0.2145 | +0.231% | $5K | $46K | 5x | as long as short |
| Kraken Futures PF_XLMUSDlong | +0.0264% | 1h | 0.2140 | long leg | $2.6M | $2.6M | 50x | |
| Coinbase International XLM-PERP-INTX | +0.0480% | 1h | 0.2143 | +0.110% | $238K | $1.5M | 50x | as long as short |
| GMX XLM/USD [WBTC.b-USDC] | L +0.0520% / S −0.0247% | 1h | 0.2137 | −0.154% | $40K | — | 100x | as long as short |
| Deribit XLM_USDC-PERPETUAL | +0.1013% | 1h | 0.2141 | +0.031% | $531K | $153K | 25x | 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
Phemex XLMUSDT
Extended XLM-USD
Hyperliquid XLM
dYdX XLM-USD
BloFin XLM-USDT
Phoenix XLM
Coinbase International XLM-PERP-INTX
GMX XLM/USD [WBTC.b-USDC]
Deribit XLM_USDC-PERPETUAL