Funding you earn now, next payment 10:00 UTC−0.3184%/8h= −348.7% APRnext payment −$3.98 per $10,000 · paid last 24h +0.106%
Price spread now: Deribit against Kraken Futures−0.295%7-day average +0.046% · you buy dearer than you sell
Net, funding: paid 7d − costs−$15as in the Funding arb table
Net, price: spread back to 7d avg − costs−$80as in the Price arb table
costs, in and out, $10k−$460.458% of the position
Funding, last 7 days+0.306%+$31 on $10k
+Price spread, last 4 days (all we have)+0.376%+$38 · spread now −0.295%, 7d avg +0.046%
=Both sides work against this trade now: funding costs −$96 a day on $10k at the current rate, and Deribit is 0.340% cheaper against Kraken Futures than usual: you would sell low and buy high (−$34 if the spread goes back to its 7-day average of +0.046%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.306%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.306% in total (about 16.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.98 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 | Kraken Futures PF_XLMUSD | 0.2134 | 0.0482 | pay 0.0060% / 1h | 57m 54s | $2.6M | $2.5M | 50x |
| Short | Deribit XLM_USDC-PERPETUAL | 0.2128 | −0.2702 | pay 0.0338% / 1h | 57m 54s | $528K | $105K | 25x |
Kraken Futures PF_XLMUSD
Deribit XLM_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- −$668.72
- Price spread: −0.295% → +0.046%
- −$34.02
- Slippage, 4 orders
- −$28.79
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$748.53
- Costs to cover
- 0.458%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 1 min ago; Deribit: live order book, 36 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, 1 min ago | 4.21 bp | 13.3 bp −$13 | 34.1 bp −$341 | 415.2 bp −$41.5K | doesn't fit |
| Sell Deribit live order book, 36 min ago | 4.26 bp | 7.8 bp −$8 | 14.5 bp −$145 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit XLM_USDC-PERPETUALshort | −0.2702% | 1h | 0.2128 | −0.295% | $528K | $105K | 25x | |
| gTrade (Gains Network) XLM/USD | L 0.0000% / S +0.0002% | 1h | 0.2139 | +0.202% | $4K | — | 150x | as long as short |
| Injective XLM/USDC PERP | +0.0033% | 1h | 0.2125 | −0.440% | $683 | $241K | 12x | as long as short |
| Lighter XLM | +0.0096% | 1h | 0.2137 | +0.122% | $367K | $849K | 5x | as long as short |
| Aster XLMUSDT | +0.0100% | 8h | 0.2136 | +0.067% | $566K | $545K | 75x | as long as short |
| Binance XLMUSDT | +0.0100% | 8h | 0.2135 | +0.019% | $55.4M | $153.1M | 75x | as long as short |
| Bybit XLMUSDT | +0.0100% | 8h | 0.2134 | −0.018% | $44.2M | $43.7M | 75x | as long as short |
| OKX XLM-USDT-SWAP | +0.0100% | 8h | 0.2134 | −0.009% | $12.4M | $44.8M | 50x | as long as short |
| Gate XLM_USDT | +0.0100% | 8h | 0.2134 | −0.037% | $4.0M | $6.9M | 75x | as long as short |
| MEXC XLM_USDT | +0.0100% | 8h | 0.2134 | −0.014% | $24.3M | $27.7M | 300x | 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_USDTShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin XLMUSDTM | +0.0100% | 8h | 0.2134 | 0.000% | $13.9M | $8.9M | 75x | as long as short |
| Bitget XLMUSDT | +0.0100% | 8h | 0.2135 | +0.005% | $26.0M | $22.3M | 75x | as long as short |
| BingX XLM-USDC | +0.0100% | 8h | 0.2134 | −0.014% | — | $6.7M | — | as long as short |
| Backpack XLM_USDC_PERP | +0.0100% | 1h | 0.2134 | 0.000% | $121K | $323K | 20x | as long as short |
| Variational Omni XLM | +0.0100% | 8h | 0.2137 | +0.127% | $256K | $1.2M | — | as long as short |
| edgeX XLMUSDC | +0.0100% | 4h | 0.2141 | +0.306% | $12K | $310K | 10x | as long as short |
| GRVT XLM_USDT_Perp | +0.0100% | 8h | 0.2141 | +0.301% | $590K | $547K | 10x | as long as short |
| ApeX Omni XLMUSDT | +0.0100% | 1h | 0.2141 | +0.291% | $172K | $252K | 50x | as long as short |
| Orderly PERP_XLM_USDC_mythos | +0.0100% | 4h | 0.2135 | +0.029% | $3K | $247 | 10x | as long as short |
| SunX XLM-USDT | +0.0100% | 8h | 0.2135 | +0.043% | $2K | $1.5M | 20x | as long as short |
| SoDEX XLM-USD | +0.0100% | 1h | 0.2134 | 0.000% | $581 | $6K | 5x | as long as short |
| HTX XLM-USDT | +0.0100% | 8h | 0.2136 | +0.089% | $197K | $187K | 20x | as long as short |
| Phemex XLMUSDT | +0.0100% | 8h | 0.2135 | +0.019% | $8.7M | $8.7M | 50x | as long as short |
| Extended XLM-USD | +0.0104% | 1h | 0.2134 | −0.038% | $190K | $664K | 10x | as long as short |
| BloFin XLM-USDT | +0.0220% | 8h | 0.2137 | +0.122% | $2.3M | $5.4M | 75x | as long as short |
| Phoenix XLM | +0.0226% | 1h | 0.2141 | +0.314% | $4K | $38K | 5x | as long as short |
| Coinbase International XLM-PERP-INTX | +0.0328% | 1h | 0.2136 | +0.085% | $214K | $1.5M | 50x | as long as short |
| Kraken Futures PF_XLMUSDlong | +0.0482% | 1h | 0.2134 | long leg | $2.6M | $2.5M | 50x | |
| GMX XLM/USD [WBTC.b-USDC] | L +0.0496% / S −0.0231% | 1h | 0.2139 | +0.216% | $38K | — | 100x | as long as short |
| Hyperliquid XLM | +0.0600% | 1h | 0.2137 | +0.104% | $12.3M | $6.0M | 5x | as long as short |
| dYdX XLM-USD | +0.0704% | 1h | 0.2135 | +0.009% | $27K | $5K | 10x | as long as short |
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
Coinbase International XLM-PERP-INTX
GMX XLM/USD [WBTC.b-USDC]
Hyperliquid XLM
dYdX XLM-USD