Funding you earn now, next payment 21:00 UTC−0.0637%/8h= −69.8% APRnext payment −$0.80 per $10,000 · paid last 24h −0.095%
Price spread now: Phoenix against Lighter−0.423%104s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories
Both sides work against this trade now: funding costs −$19 a day on $10k at the current rate, and Phoenix is 0.423% cheaper against Lighter than usual: you would sell low and buy high (−$42 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 104 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 | Lighter XLM | 0.2152 | 0.0824 | pay 0.0103% / 1h | 21m 38s | $427K | $793K | 5x |
| Short | Phoenix XLM | 0.2143 | 0.0187 | get 0.0023% / 1h | 21m 38s | $5K | $43K | 5x |
Lighter XLM
Phoenix XLMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- −$133.86
- Price spread: −0.423% → 0.000%
- −$42.28
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$183.14
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Lighter: live order book, 63 min ago; Phoenix: no order-book sample. 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 Lighter live order book, 63 min ago | 4.93 bp | 23.2 bp −$23 | 62.2 bp −$622 | doesn't fit | doesn't fit |
| Sell Phoenix no order-book sample | — | — | — | — | — |
Phoenix: 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX XLM-USD | 0.0000% | 1h | 0.2151 | −0.083% | $23K | $3K | 10x | as long as short |
| gTrade (Gains Network) XLM/USD | L 0.0000% / S +0.0002% | 1h | 0.2150 | −0.119% | $4K | — | 150x | as long as short |
| Aster XLMUSDT | +0.0100% | 8h | 0.2151 | −0.079% | $587K | $793K | 75x | as long as short |
| Binance XLMUSDT | +0.0100% | 8h | 0.2152 | −0.042% | $55.5M | $145.1M | 75x | as long as short |
| Bybit XLMUSDT | +0.0100% | 8h | 0.2151 | −0.056% | $43.8M | $41.2M | 75x | as long as short |
| OKX XLM-USDT-SWAP | +0.0100% | 8h | 0.2150 | −0.098% | $13.0M | $40.7M | 50x | as long as short |
| Gate XLM_USDT | +0.0100% | 8h | 0.2151 | −0.079% | $3.9M | $5.9M | 75x | as long as short |
| MEXC XLM_USDT | +0.0100% | 8h | 0.2151 | −0.051% | $25.3M | $25.2M | 300x | as long as short |
| KuCoin XLMUSDTM | +0.0100% | 8h | 0.2151 | −0.079% | $14.5M | $10.4M | 75x | as long as short |
| Bitget XLMUSDT | +0.0100% | 8h | 0.2151 | −0.060% | $25.8M | $17.9M | 75x | as long as short |
dYdX XLM-USD
gTrade (Gains Network) 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 | 0.2151 | −0.056% | — | $6.8M | — | as long as short |
| Backpack XLM_USDC_PERP | +0.0100% | 1h | 0.2151 | −0.056% | $102K | $221K | 20x | as long as short |
| Variational Omni XLM | +0.0100% | 8h | 0.2142 | −0.468% | $207K | $1.1M | — | as long as short |
| edgeX XLMUSDC | +0.0100% | 4h | 0.2140 | −0.559% | $12K | $297K | 10x | as long as short |
| GRVT XLM_USDT_Perp | +0.0100% | 8h | 0.2141 | −0.531% | $600K | $611K | 10x | as long as short |
| ApeX Omni XLMUSDT | +0.0100% | 1h | 0.2140 | −0.595% | $171K | $255K | 50x | as long as short |
| Orderly PERP_XLM_USDC_mythos | +0.0100% | 4h | 0.2151 | −0.070% | $3K | $2K | 10x | as long as short |
| SunX XLM-USDT | +0.0100% | 8h | 0.2147 | −0.246% | $2K | $1.7M | 20x | as long as short |
| SoDEX XLM-USD | +0.0100% | 1h | 0.2150 | −0.093% | $2K | $6K | 5x | as long as short |
| HTX XLM-USDT | +0.0100% | 8h | 0.2148 | −0.214% | $200K | $267K | 20x | as long as short |
| Phemex XLMUSDT | +0.0100% | 8h | 0.2150 | −0.098% | $9.0M | $9.0M | 50x | as long as short |
| Extended XLM-USD | +0.0104% | 1h | 0.2151 | −0.052% | $193K | $1.6M | 10x | as long as short |
| Phoenix XLMshort | +0.0187% | 1h | 0.2143 | −0.423% | $5K | $43K | 5x | |
| BloFin XLM-USDT | +0.0220% | 8h | 0.2146 | −0.283% | $2.3M | $6.3M | 75x | as long as short |
| Injective XLM/USDC PERP | +0.0249% | 1h | 0.2127 | −1.185% | $476 | $154K | 12x | as long as short |
| Hyperliquid XLM | +0.0261% | 1h | 0.2153 | +0.023% | $12.0M | $5.8M | 5x | as long as short |
| GMX XLM/USD [WBTC.b-USDC] | L +0.0313% / S −0.0166% | 1h | 0.2150 | −0.123% | $45K | — | 100x | as long as short |
| Coinbase International XLM-PERP-INTX | +0.0408% | 1h | 0.2145 | −0.344% | $228K | $1.5M | 50x | as long as short |
| Kraken Futures PF_XLMUSD | +0.0549% | 1h | 0.2152 | −0.040% | $2.6M | $2.6M | 50x | as long as short |
| Deribit XLM_USDC-PERPETUAL | +0.0727% | 1h | 0.2152 | −0.009% | $534K | $170K | 25x | as long as short |
| Lighter XLMlong | +0.0824% | 1h | 0.2152 | long leg | $427K | $793K | 5x |
BingX XLM-USDT
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
Injective XLM/USDC PERP
Hyperliquid XLM
GMX XLM/USD [WBTC.b-USDC]
Coinbase International XLM-PERP-INTX
Kraken Futures PF_XLMUSD
Deribit XLM_USDC-PERPETUAL