Funding arb · Price arb /

XLM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0340%/8h= +37.2% APRpaid last 24h +0.096%

Price spread now: Coinbase International against MEXC+0.174%51s7-day average +0.073% · you sell dearer than you buy

Net, funding: paid 7d − costs−$12as 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−$320.316% of the position

Long on MEXC Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.200%+$20 on $10k

Price spread, last 3 days (all we have)−0.162%−$16 · spread now +0.174%, 7d avg +0.073%

Together, before fees+0.038%+$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Coinbase International is 0.100% dearer against MEXC than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.073%. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.200% in total (about 10.4% 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	MEXC XLM_USDT	0.2130	0.0100	pay 0.0100% / 8h	6h 21m	$23.9M	$27.0M	300x
Short	Coinbase International XLM-PERP-INTX	0.2134	0.0440	get 0.0055% / 1h	21m 27s	$233K	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against MEXC. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee MEXCbpFee Coinbase InternationalbpOrdersPrice spread, now +0.174%Rate

Funding earned: $71.4
Price spread: +0.174% → +0.073%: $10.02
Slippage, 4 orders: −$21.63
Fee MEXC: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $49.79
Costs to cover: 0.316%
Break-even: 2.1 days

Slippage from MEXC: live order book, 2 min ago; Coinbase International: live order book, 2 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 MEXC live order book, 2 min ago	0.23 bp	1.5 bp −$1	11.5 bp −$115	33.8 bp −$3,384	93.8 bp −$46.9K
Sell Coinbase International live order book, 2 min ago	4.45 bp	14.4 bp −$14	19.6 bp −$196	doesn't fit	doesn't fit

XLM on 30 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	0.2129	−0.069%	$4K	—	150x	as long as short
Injective XLM/USDC PERP	+0.0033%	1h	0.2125	−0.235%	$683	$241K	12x	as long as short
dYdX XLM-USD	+0.0095%	1h	0.2129	−0.030%	$23K	$2K	10x	as long as short
Lighter XLM	+0.0096%	1h	0.2132	+0.080%	$360K	$906K	5x	as long as short
Binance XLMUSDT	+0.0100%	8h	0.2130	0.000%	$54.0M	$155.0M	75x	as long as short
Bybit XLMUSDT	+0.0100%	8h	0.2128	−0.089%	$42.8M	$46.2M	75x	as long as short
OKX XLM-USDT-SWAP	+0.0100%	8h	0.2129	−0.066%	$12.7M	$41.9M	50x	as long as short
Gate XLM_USDT	+0.0100%	8h	0.2130	−0.023%	$4.1M	$6.7M	75x	as long as short
MEXC XLM_USDTlong	+0.0100%	8h	0.2130	long leg	$23.9M	$27.0M	300x
KuCoin XLMUSDTM	+0.0100%	8h	0.2130	−0.005%	$14.1M	$10.0M	75x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget XLMUSDT	+0.0100%	8h	0.2129	−0.056%	$25.4M	$20.7M	75x	as long as short
BingX XLM-USDT	+0.0100%	8h	0.2129	−0.033%	—	$7.1M	—	as long as short
Backpack XLM_USDC_PERP	+0.0100%	1h	0.2132	+0.094%	$89K	$262K	20x	as long as short
Variational Omni XLM	+0.0100%	8h	0.2132	+0.101%	$255K	$1.3M	—	as long as short
edgeX XLMUSDC	+0.0100%	4h	0.2132	+0.081%	$12K	$303K	10x	as long as short
GRVT XLM_USDT_Perp	+0.0100%	8h	0.2134	+0.202%	$597K	$611K	10x	as long as short
ApeX Omni XLMUSDT	+0.0100%	1h	0.2132	+0.075%	$171K	$257K	50x	as long as short
Orderly PERP_XLM_USDC_mythos	+0.0100%	4h	0.2129	−0.047%	$3K	$2K	10x	as long as short
SunX XLM-USDT	+0.0100%	8h	0.2132	+0.094%	$2K	$1.7M	20x	as long as short
SoDEX XLM-USD	+0.0100%	1h	0.2132	+0.085%	$2K	$6K	5x	as long as short
HTX XLM-USDT	+0.0100%	8h	0.2133	+0.136%	$197K	$262K	20x	as long as short
Phemex XLMUSDT	+0.0100%	8h	0.2132	+0.089%	$8.9M	$8.9M	50x	as long as short
Extended XLM-USD	+0.0104%	1h	0.2129	−0.057%	$192K	$1.8M	10x	as long as short
Aster XLMUSDT	+0.0130%	8h	0.2131	+0.034%	$570K	$622K	75x	as long as short
Phoenix XLM	+0.0187%	1h	0.2135	+0.221%	$5K	$46K	5x	as long as short
Hyperliquid XLM	+0.0265%	1h	0.2132	+0.099%	$12.3M	$6.3M	5x	as long as short
Kraken Futures PF_XLMUSD	+0.0380%	1h	0.2131	+0.060%	$2.6M	$2.7M	50x	as long as short
Coinbase International XLM-PERP-INTXshort	+0.0440%	1h	0.2134	+0.174%	$233K	$1.5M	50x
GMX XLM/USD [WBTC.b-USDC]	L +0.0517% / S −0.0193%	1h	0.2128	−0.091%	$44K	—	100x	as long as short
Deribit XLM_USDC-PERPETUAL	+0.0829%	1h	0.2134	+0.174%	$530K	$149K	25x	as long as short