Funding you earn now, next payment 23:00 UTC−0.0404%/8h= −44.2% APRpaid last 24h −0.027%
Price spread now: Phemex against Kraken Futures+0.091%7-day average −0.013% · you sell dearer than you buy
Net, funding: paid 7d − costs−$40as in the Funding arb table
Net, price: spread back to 7d avg − costs−$40as in the Price arb table
costs, in and out, $10k−$510.507% of the position
Funding, last 7 days+0.109%+$11 on $10k
+Price spread, last 3 days (all we have)−0.074%−$7 · spread now +0.091%, 7d avg −0.013%
=The price spread pays, funding is against you. Phemex is 0.105% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.091% now, against its 7-day average of −0.013%): +$10 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 21 hours. Mind the row above: over the last 7 days funding on this pair paid +0.109%, 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 0.109% in total (about 5.7% a year). A funding rate is set anew for every payment. 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 | 0.2170 | 0.0504 | pay 0.0063% / 1h | 58m 59s | $2.6M | $2.6M | 50x |
| Short | Phemex XLMUSDT | 0.2172 | 0.0100 | get 0.0100% / 8h | 1h 58m | $9.2M | $9.1M | 50x |
Kraken Futures PF_XLMUSD
Phemex XLMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- −$84.75
- Price spread: +0.091% → −0.013%
- $10.49
- Slippage, 4 orders
- −$28.68
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$124.94
- Costs to cover
- 0.507%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 5 min ago; Phemex: live order book, 5 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, 5 min ago | 3.93 bp | 13.9 bp −$14 | 21.4 bp −$214 | 107.6 bp −$10.8K | doesn't fit |
| Sell Phemex live order book, 5 min ago | 5.32 bp | 11.6 bp −$12 | 20.6 bp −$206 | 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 | 0.2171 | +0.028% | $4K | — | 150x | as long as short |
| dYdX XLM-USD | +0.0012% | 1h | 0.2166 | −0.211% | $24K | $3K | 10x | as long as short |
| Aster XLMUSDT | +0.0100% | 8h | 0.2173 | +0.124% | $592K | $800K | 75x | as long as short |
| Binance XLMUSDT | +0.0100% | 8h | 0.2170 | +0.004% | $56.4M | $147.4M | 75x | as long as short |
| Bybit XLMUSDT | +0.0100% | 8h | 0.2170 | −0.010% | $44.0M | $42.2M | 75x | as long as short |
| OKX XLM-USDT-SWAP | +0.0100% | 8h | 0.2170 | −0.028% | $13.2M | $41.5M | 50x | as long as short |
| Gate XLM_USDT | +0.0100% | 8h | 0.2170 | −0.014% | $4.0M | $5.8M | 75x | as long as short |
| MEXC XLM_USDT | +0.0100% | 8h | 0.2172 | +0.078% | $25.8M | $25.3M | 300x | as long as short |
| KuCoin XLMUSDTM | +0.0100% | 8h | 0.2171 | +0.045% | $14.7M | $10.5M | 75x | as long as short |
| Bitget XLMUSDT | +0.0100% | 8h | 0.2171 | +0.036% | $26.0M | $18.4M | 75x | as long as short |
gTrade (Gains Network) XLM/USD
dYdX XLM-USD
Aster XLMUSDT
Binance XLMUSDT
Bybit XLMUSDT
OKX XLM-USDT-SWAP
Gate XLM_USDT
MEXC XLM_USDT
KuCoin XLMUSDTM
Bitget XLMUSDTShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX XLM-USDT | +0.0100% | 8h | 0.2171 | +0.036% | — | $7.0M | — | as long as short |
| Variational Omni XLM | +0.0100% | 8h | 0.2162 | −0.369% | $240K | $1.1M | — | as long as short |
| edgeX XLMUSDC | +0.0100% | 4h | 0.2165 | −0.242% | $12K | $300K | 10x | as long as short |
| GRVT XLM_USDT_Perp | +0.0100% | 8h | 0.2165 | −0.241% | $602K | $610K | 10x | as long as short |
| ApeX Omni XLMUSDT | +0.0100% | 1h | 0.2165 | −0.240% | $173K | $255K | 50x | as long as short |
| Orderly PERP_XLM_USDC_mythos | +0.0100% | 4h | 0.2171 | +0.027% | $3K | $2K | 10x | as long as short |
| SunX XLM-USDT | +0.0100% | 8h | 0.2170 | −0.038% | $2K | $1.7M | 20x | as long as short |
| SoDEX XLM-USD | +0.0100% | 1h | 0.2171 | +0.041% | $2K | $6K | 5x | as long as short |
| HTX XLM-USDT | +0.0100% | 8h | 0.2170 | −0.019% | $200K | $272K | 20x | as long as short |
| Phemex XLMUSDTshort | +0.0100% | 8h | 0.2172 | +0.091% | $9.2M | $9.1M | 50x | |
| Extended XLM-USD | +0.0104% | 1h | 0.2171 | +0.044% | $194K | $1.6M | 10x | as long as short |
| Backpack XLM_USDC_PERP | +0.0122% | 1h | 0.2172 | +0.064% | $105K | $237K | 20x | as long as short |
| Phoenix XLM | +0.0187% | 1h | 0.2163 | −0.319% | $5K | $40K | 5x | as long as short |
| BloFin XLM-USDT | +0.0220% | 8h | 0.2172 | +0.064% | $2.3M | $6.3M | 75x | as long as short |
| GMX XLM/USD [WBTC.b-USDC] | L +0.0315% / S −0.0166% | 1h | 0.2171 | +0.029% | $45K | — | 100x | as long as short |
| Coinbase International XLM-PERP-INTX | +0.0432% | 1h | 0.2170 | −0.001% | $231K | $1.5M | 50x | as long as short |
| Injective XLM/USDC PERP | +0.0475% | 1h | 0.2156 | −0.664% | $116 | $185K | 12x | as long as short |
| Deribit XLM_USDC-PERPETUAL | +0.0487% | 1h | 0.2173 | +0.105% | $539K | $170K | 25x | as long as short |
| Kraken Futures PF_XLMUSDlong | +0.0504% | 1h | 0.2170 | long leg | $2.6M | $2.6M | 50x | |
| Hyperliquid XLM | +0.0710% | 1h | 0.2174 | +0.156% | $12.3M | $6.0M | 5x | as long as short |
| Lighter XLM | +0.0856% | 1h | 0.2176 | +0.262% | $428K | $803K | 5x | as long as short |
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
Backpack XLM_USDC_PERP
Phoenix XLM
BloFin XLM-USDT
GMX XLM/USD [WBTC.b-USDC]
Coinbase International XLM-PERP-INTX
Injective XLM/USDC PERP
Deribit XLM_USDC-PERPETUAL
Hyperliquid XLM
Lighter XLM