Funding arb · Price arb /

XLM

all XLM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0126%/8h= +13.8% APRpaid last 24h +0.018%

Price spread now: Phoenix against MEXC−0.259%47s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on MEXC Short on Phoenix

What this pair did over the last

the charts below follow

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—needs both histories

Funding pays, the price is against you. Phoenix is 0.259% cheaper against MEXC than usual: you would sell low and buy high (spread −0.259% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$26 on $10k: about 6.9 days of funding at the current rate (+$4 a day). The two prices were read 47 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	MEXC XLM_USDT	0.2121	0.0100	pay 0.0100% / 8h	2h 12m	$24.3M	$28.5M	300x
Short	Phoenix XLM	0.2115	0.0226	get 0.0028% / 1h	12m 45s	$4K	$49K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.259%Rate

Funding earned: $26.46
Price spread: −0.259% → 0.000%: −$25.93
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$6.47
Costs to cover: 0.070%
Break-even: 8.7 days

Slippage unknown: MEXC: live order book, 1 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 MEXC live order book, 1 min ago	0.71 bp	2.6 bp −$3	7.1 bp −$71	32.8 bp −$3,282	91.3 bp −$45.6K
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
gTrade (Gains Network) XLM/USD	L 0.0000% / S +0.0002%	1h	0.2119	−0.112%	$4K	—	150x	as long as short
Injective XLM/USDC PERP	+0.0033%	1h	0.2125	+0.193%	$683	$241K	12x	as long as short
Lighter XLM	+0.0096%	1h	0.2122	+0.071%	$356K	$995K	5x	as long as short
Aster XLMUSDT	+0.0100%	8h	0.2120	−0.042%	$562K	$634K	75x	as long as short
Binance XLMUSDT	+0.0100%	8h	0.2121	+0.009%	$54.4M	$162.0M	75x	as long as short
Bybit XLMUSDT	+0.0100%	8h	0.2120	−0.042%	$42.9M	$47.5M	75x	as long as short
OKX XLM-USDT-SWAP	+0.0100%	8h	0.2120	−0.019%	$12.2M	$44.3M	50x	as long as short
Gate XLM_USDT	+0.0100%	8h	0.2119	−0.071%	$4.0M	$7.7M	75x	as long as short
MEXC XLM_USDTlong	+0.0100%	8h	0.2121	long leg	$24.3M	$28.5M	300x
KuCoin XLMUSDTM	+0.0100%	8h	0.2120	−0.042%	$13.9M	$9.4M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget XLMUSDT	+0.0100%	8h	0.2120	−0.061%	$25.5M	$22.8M	75x	as long as short
BingX XLM-USDC	+0.0100%	8h	0.2119	−0.066%	—	$6.7M	—	as long as short
Backpack XLM_USDC_PERP	+0.0100%	1h	0.2121	−0.014%	$131K	$315K	20x	as long as short
Variational Omni XLM	+0.0100%	8h	0.2111	−0.460%	$252K	$1.3M	—	as long as short
edgeX XLMUSDC	+0.0100%	4h	0.2114	−0.312%	$12K	$308K	10x	as long as short
GRVT XLM_USDT_Perp	+0.0100%	8h	0.2115	−0.259%	$586K	$603K	10x	as long as short
ApeX Omni XLMUSDT	+0.0100%	1h	0.2114	−0.325%	$169K	$265K	50x	as long as short
Orderly PERP_XLM_USDC_mythos	+0.0100%	4h	0.2119	−0.090%	$3K	$2K	10x	as long as short
SunX XLM-USDT	+0.0100%	8h	0.2118	−0.146%	$2K	$1.7M	20x	as long as short
SoDEX XLM-USD	+0.0100%	1h	0.2119	−0.085%	$577	$6K	5x	as long as short
HTX XLM-USDT	+0.0100%	8h	0.2119	−0.090%	$195K	$251K	20x	as long as short
Phemex XLMUSDT	+0.0100%	8h	0.2119	−0.094%	$8.8M	$9.0M	50x	as long as short
Extended XLM-USD	+0.0104%	1h	0.2119	−0.072%	$189K	$1.8M	10x	as long as short
Kraken Futures PF_XLMUSD	+0.0143%	1h	0.2119	−0.070%	$2.6M	$2.7M	50x	as long as short
Hyperliquid XLM	+0.0182%	1h	0.2122	+0.047%	$12.1M	$6.6M	5x	as long as short
dYdX XLM-USD	+0.0198%	1h	0.2119	−0.073%	$23K	$2K	10x	as long as short
BloFin XLM-USDT	+0.0220%	8h	0.2120	−0.042%	$2.3M	$5.6M	75x	as long as short
Phoenix XLMshort	+0.0226%	1h	0.2115	−0.259%	$4K	$49K	5x
Coinbase International XLM-PERP-INTX	+0.0456%	1h	0.2117	−0.165%	$226K	$1.6M	50x	as long as short
GMX XLM/USD [WBTC.b-USDC]	L +0.0517% / S −0.0228%	1h	0.2118	−0.123%	$41K	—	100x	as long as short
Deribit XLM_USDC-PERPETUAL	+0.0977%	1h	0.2121	+0.009%	$526K	$164K	25x	as long as short