Funding arb · Price arb /

XLM

all XLM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0102%/8h= −11.2% APRpaid last 24h −0.031%

Price spread now: gTrade (Gains Network) against Phemex+0.032%7-day average — · you sell dearer than you buy

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

Long on Phemex Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 4 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

The price spread pays, funding is against you. gTrade (Gains Network) is 0.032% dearer against Phemex than usual: you sell high and buy low (spread +0.032% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 25 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XLMUSDT	0.2110	0.0100	pay 0.0100% / 8h	7h 32m	$8.6M	$8.8M	50x
Short	gTrade (Gains Network) XLM/USD	0.2111	L 0.0000% / S +0.0002%	pay 0.0000% / 1h	32m 39s	$4K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Phemex. 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 PhemexbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.032%Rate

Funding earned: −$21.41
Price spread: +0.032% → 0.000%: $3.18
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$40.23
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 6 min ago; gTrade (Gains Network): 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 Phemex live order book, 6 min ago	1.42 bp	8.1 bp −$8	19.3 bp −$193	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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/USDshort	L 0.0000% / S +0.0002%	1h	0.2111	+0.032%	$4K	—	150x
Injective XLM/USDC PERP	+0.0033%	1h	0.2125	+0.711%	$683	$241K	12x	as long as short
Lighter XLM	+0.0096%	1h	0.2112	+0.118%	$364K	$918K	5x	as long as short
Aster XLMUSDT	+0.0100%	8h	0.2109	−0.032%	$559K	$583K	75x	as long as short
Binance XLMUSDT	+0.0100%	8h	0.2108	−0.089%	$54.8M	$160.1M	75x	as long as short
Bybit XLMUSDT	+0.0100%	8h	0.2107	−0.142%	$43.5M	$46.4M	75x	as long as short
OKX XLM-USDT-SWAP	+0.0100%	8h	0.2107	−0.137%	$12.2M	$44.8M	50x	as long as short
Gate XLM_USDT	+0.0100%	8h	0.2109	−0.028%	$3.9M	$7.3M	75x	as long as short
MEXC XLM_USDT	+0.0100%	8h	0.2109	−0.028%	$24.4M	$29.0M	300x	as long as short
KuCoin XLMUSDTM	+0.0100%	8h	0.2110	+0.014%	$13.9M	$9.0M	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	0.2108	−0.095%	$25.5M	$22.9M	75x	as long as short
BingX XLM-USDT	+0.0100%	8h	0.2108	−0.076%	—	$7.3M	—	as long as short
Backpack XLM_USDC_PERP	+0.0100%	1h	0.2111	+0.047%	$129K	$344K	20x	as long as short
Variational Omni XLM	+0.0100%	8h	0.2113	+0.149%	$252K	$1.3M	—	as long as short
edgeX XLMUSDC	+0.0100%	4h	0.2114	+0.173%	$12K	$309K	10x	as long as short
GRVT XLM_USDT_Perp	+0.0100%	8h	0.2113	+0.161%	$589K	$551K	10x	as long as short
ApeX Omni XLMUSDT	+0.0100%	1h	0.2116	+0.294%	$170K	$265K	50x	as long as short
Orderly PERP_XLM_USDC_mythos	+0.0100%	4h	0.2109	−0.047%	$3K	$247	10x	as long as short
SunX XLM-USDT	+0.0100%	8h	0.2107	−0.123%	$2K	$1.6M	20x	as long as short
SoDEX XLM-USD	+0.0100%	1h	0.2110	−0.014%	$575	$6K	5x	as long as short
HTX XLM-USDT	+0.0100%	8h	0.2109	−0.038%	$194K	$213K	20x	as long as short
Phemex XLMUSDTlong	+0.0100%	8h	0.2110	long leg	$8.6M	$8.8M	50x
Extended XLM-USD	+0.0104%	1h	0.2108	−0.102%	$188K	$891K	10x	as long as short
BloFin XLM-USDT	+0.0220%	8h	0.2111	+0.028%	$2.3M	$5.4M	75x	as long as short
Phoenix XLM	+0.0226%	1h	0.2117	+0.318%	$4K	$56K	5x	as long as short
Coinbase International XLM-PERP-INTX	+0.0328%	1h	0.2110	+0.014%	$211K	$1.6M	50x	as long as short
Kraken Futures PF_XLMUSD	+0.0342%	1h	0.2109	−0.028%	$2.5M	$2.6M	50x	as long as short
Hyperliquid XLM	+0.0476%	1h	0.2113	+0.123%	$12.1M	$6.3M	5x	as long as short
GMX XLM/USD [WBTC.b-USDC]	L +0.0515% / S −0.0247%	1h	0.2108	−0.104%	$39K	—	100x	as long as short
Deribit XLM_USDC-PERPETUAL	+0.0746%	1h	0.2110	+0.014%	$523K	$148K	25x	as long as short
dYdX XLM-USD	+0.1108%	1h	0.2110	−0.015%	$26K	$5K	10x	as long as short