Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.01 per $10,000 · paid last 24h −0.106%
Price spread now: Backpack against Lighter−0.067%7-day average −0.103% · you buy dearer than you sell
Net, funding: paid 7d − costs−$68as in the Funding arb table
Net, price: spread back to 7d avg − costs−$52as in the Price arb table
costs, in and out, $10k−$560.558% of the position
Funding, last 7 days−0.125%−$13 on $10k
+Price spread, last 4 days (all we have)−0.053%−$5 · spread now −0.067%, 7d avg −0.103%
=Together, before fees−0.178%+ Points / potential airdropLighter: Season 3 · farm board−$18 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.036% dearer against Lighter than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.103%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter XLM | 0.2104 | 0.0096 | pay 0.0012% / 1h | 23m 41s | $353K | $992K | 5x |
| Short | Backpack XLM_USDC_PERP | 0.2103 | 0.0100 | get 0.0013% / 1h | 23m 41s | $130K | $314K | 20x |
Lighter XLM
Backpack XLM_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Lighter. 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
- $0.84
- Price spread: −0.067% → −0.103%
- $3.62
- Slippage, 4 orders
- −$45.83
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$51.37
- Costs to cover
- 0.558%
- Break-even
- 435.1 days
Slippage from Lighter: live order book, 22 min ago; Backpack: live order book, 25 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 Lighter live order book, 22 min ago | 7.33 bp | 19.3 bp −$19 | 52.7 bp −$527 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 25 min ago | 0.24 bp | 8.1 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 | 0.2101 | −0.122% | $4K | — | 150x | as long as short |
| Injective XLM/USDC PERP | +0.0033% | 1h | 0.2125 | +0.998% | $683 | $241K | 12x | as long as short |
| Lighter XLMlong | +0.0096% | 1h | 0.2104 | long leg | $353K | $992K | 5x | |
| Aster XLMUSDT | +0.0100% | 8h | 0.2101 | −0.151% | $556K | $630K | 75x | as long as short |
| Binance XLMUSDT | +0.0100% | 8h | 0.2102 | −0.090% | $53.8M | $161.5M | 75x | as long as short |
| Bybit XLMUSDT | +0.0100% | 8h | 0.2099 | −0.219% | $42.3M | $47.2M | 75x | as long as short |
| OKX XLM-USDT-SWAP | +0.0100% | 8h | 0.2100 | −0.190% | $12.2M | $43.8M | 50x | as long as short |
| Gate XLM_USDT | +0.0100% | 8h | 0.2100 | −0.166% | $3.9M | $7.6M | 75x | as long as short |
| MEXC XLM_USDT | +0.0100% | 8h | 0.2101 | −0.133% | $24.1M | $28.3M | 300x | as long as short |
| KuCoin XLMUSDTM | +0.0100% | 8h | 0.2100 | −0.171% | $13.7M | $9.4M | 75x | as long as short |
gTrade (Gains Network) XLM/USD
Injective XLM/USDC PERP
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 | 0.2100 | −0.200% | $25.2M | $22.8M | 75x | as long as short |
| BingX XLM-USDC | +0.0100% | 8h | 0.2100 | −0.185% | — | $6.7M | — | as long as short |
| Backpack XLM_USDC_PERPshort | +0.0100% | 1h | 0.2103 | −0.067% | $130K | $314K | 20x | |
| Variational Omni XLM | +0.0100% | 8h | 0.2097 | −0.325% | $250K | $1.3M | — | as long as short |
| edgeX XLMUSDC | +0.0100% | 4h | 0.2096 | −0.381% | $12K | $306K | 10x | as long as short |
| GRVT XLM_USDT_Perp | +0.0100% | 8h | 0.2101 | −0.145% | $582K | $615K | 10x | as long as short |
| ApeX Omni XLMUSDT | +0.0100% | 1h | 0.2094 | −0.466% | $168K | $264K | 50x | as long as short |
| Orderly PERP_XLM_USDC_mythos | +0.0100% | 4h | 0.2103 | −0.048% | $3K | $2K | 10x | as long as short |
| SunX XLM-USDT | +0.0100% | 8h | 0.2100 | −0.176% | $2K | $1.7M | 20x | as long as short |
| SoDEX XLM-USD | +0.0100% | 1h | 0.2104 | +0.005% | $573 | $6K | 5x | as long as short |
| HTX XLM-USDT | +0.0100% | 8h | 0.2103 | −0.057% | $194K | $251K | 20x | as long as short |
| Phemex XLMUSDT | +0.0100% | 8h | 0.2103 | −0.062% | $8.7M | $9.0M | 50x | as long as short |
| Extended XLM-USD | +0.0104% | 1h | 0.2100 | −0.206% | $188K | $1.8M | 10x | as long as short |
| Kraken Futures PF_XLMUSD | +0.0144% | 1h | 0.2103 | −0.027% | $2.5M | $2.7M | 50x | as long as short |
| Hyperliquid XLM | +0.0155% | 1h | 0.2102 | −0.081% | $12.0M | $6.5M | 5x | as long as short |
| dYdX XLM-USD | +0.0196% | 1h | 0.2101 | −0.119% | $23K | $2K | 10x | as long as short |
| BloFin XLM-USDT | +0.0220% | 8h | 0.2102 | −0.109% | $2.3M | $5.5M | 75x | as long as short |
| Phoenix XLM | +0.0226% | 1h | 0.2097 | −0.342% | $4K | $49K | 5x | as long as short |
| Coinbase International XLM-PERP-INTX | +0.0456% | 1h | 0.2094 | −0.466% | $223K | $1.6M | 50x | as long as short |
| GMX XLM/USD [WBTC.b-USDC] | L +0.0515% / S −0.0228% | 1h | 0.2102 | −0.117% | $40K | — | 100x | as long as short |
| Deribit XLM_USDC-PERPETUAL | +0.1130% | 1h | 0.2105 | +0.052% | $522K | $163K | 25x | as long as short |
Bitget XLMUSDT
BingX XLM-USDC
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
Kraken Futures PF_XLMUSD
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