Funding you earn now, next payment 08:00 UTC+0.0491%/8h= +53.8% APRpaid last 24h +0.064%
Price spread now: Hyperliquid against Phemex+0.090%7-day average +0.068% · you sell dearer than you buy
Net, funding: paid 7d − costs−$30as in the Funding arb table
Net, price: spread back to 7d avg − costs−$38as in the Price arb table
costs, in and out, $10k−$400.399% of the position
Funding, last 7 days+0.096%+$10 on $10k
+Price spread, last 4 days (all we have)+0.068%+$7 · spread now +0.090%, 7d avg +0.068%
=Together, before fees+0.164%+ Points / potential airdropHyperliquid: Season 2 · farm board+$16 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Hyperliquid is 0.021% dearer against Phemex than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.068%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.096% in total (about 5.0% 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 | Phemex XLMUSDT | 0.2122 | 0.0100 | pay 0.0100% / 8h | 0m 52s | $8.7M | $8.9M | 50x |
| Short | Hyperliquid XLM | 0.2124 | 0.0591 | get 0.0074% / 1h | 0m 52s | $12.2M | $6.4M | 5x |
Phemex XLMUSDT
Hyperliquid XLMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Phemex. 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
- $103.09
- Price spread: +0.090% → +0.068%
- $2.14
- Slippage, 4 orders
- −$18.92
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $65.31
- Costs to cover
- 0.399%
- Break-even
- 2.6 days
Slippage from Phemex: live order book, 3 min ago; Hyperliquid: 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 Phemex live order book, 3 min ago | 4.01 bp | 11.8 bp −$12 | 20.5 bp −$205 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 2 min ago | 0.47 bp | 8.5 bp −$9 | 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 | 0.2121 | −0.056% | $4K | — | 150x | as long as short |
| Injective XLM/USDC PERP | +0.0033% | 1h | 0.2125 | +0.151% | $683 | $241K | 12x | as long as short |
| Lighter XLM | +0.0096% | 1h | 0.2123 | +0.052% | $366K | $945K | 5x | as long as short |
| Aster XLMUSDT | +0.0100% | 8h | 0.2121 | −0.033% | $562K | $585K | 75x | as long as short |
| Binance XLMUSDT | +0.0100% | 8h | 0.2121 | −0.038% | $54.9M | $159.8M | 75x | as long as short |
| Bybit XLMUSDT | +0.0100% | 8h | 0.2120 | −0.104% | $43.3M | $46.4M | 75x | as long as short |
| OKX XLM-USDT-SWAP | +0.0100% | 8h | 0.2120 | −0.061% | $12.1M | $44.9M | 50x | as long as short |
| Gate XLM_USDT | +0.0100% | 8h | 0.2120 | −0.071% | $3.9M | $7.8M | 75x | as long as short |
| MEXC XLM_USDT | +0.0100% | 8h | 0.2121 | −0.038% | $24.5M | $29.4M | 300x | as long as short |
| KuCoin XLMUSDTM | +0.0100% | 8h | 0.2122 | −0.009% | $14.0M | $9.2M | 75x | as long as short |
gTrade (Gains Network) XLM/USD
Injective XLM/USDC PERP
Lighter XLM
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 | 0.2120 | −0.061% | $25.6M | $22.8M | 75x | as long as short |
| BingX XLM-USDC | +0.0100% | 8h | 0.2120 | −0.085% | — | $6.7M | — | as long as short |
| Backpack XLM_USDC_PERP | +0.0100% | 1h | 0.2121 | −0.028% | $130K | $344K | 20x | as long as short |
| Variational Omni XLM | +0.0100% | 8h | 0.2116 | −0.263% | $252K | $1.3M | — | as long as short |
| edgeX XLMUSDC | +0.0100% | 4h | 0.2118 | −0.170% | $12K | $309K | 10x | as long as short |
| GRVT XLM_USDT_Perp | +0.0100% | 8h | 0.2120 | −0.077% | $591K | $570K | 10x | as long as short |
| ApeX Omni XLMUSDT | +0.0100% | 1h | 0.2118 | −0.179% | $170K | $264K | 50x | as long as short |
| Orderly PERP_XLM_USDC_mythos | +0.0100% | 4h | 0.2120 | −0.085% | $3K | $247 | 10x | as long as short |
| SunX XLM-USDT | +0.0100% | 8h | 0.2118 | −0.184% | $2K | $1.6M | 20x | as long as short |
| SoDEX XLM-USD | +0.0100% | 1h | 0.2120 | −0.061% | $578 | $6K | 5x | as long as short |
| HTX XLM-USDT | +0.0100% | 8h | 0.2117 | −0.250% | $195K | $220K | 20x | as long as short |
| Phemex XLMUSDTlong | +0.0100% | 8h | 0.2122 | long leg | $8.7M | $8.9M | 50x | |
| Extended XLM-USD | +0.0104% | 1h | 0.2120 | −0.083% | $189K | $1.1M | 10x | as long as short |
| BloFin XLM-USDT | +0.0220% | 8h | 0.2123 | +0.047% | $2.3M | $5.5M | 75x | as long as short |
| Phoenix XLM | +0.0264% | 1h | 0.2119 | −0.146% | $4K | $50K | 5x | as long as short |
| dYdX XLM-USD | +0.0270% | 1h | 0.2117 | −0.211% | $23K | $2K | 10x | as long as short |
| Coinbase International XLM-PERP-INTX | +0.0376% | 1h | 0.2118 | −0.170% | $219K | $1.6M | 50x | as long as short |
| GMX XLM/USD [WBTC.b-USDC] | L +0.0518% / S −0.0247% | 1h | 0.2120 | −0.074% | $39K | — | 100x | as long as short |
| Kraken Futures PF_XLMUSD | +0.0549% | 1h | 0.2121 | −0.039% | $2.6M | $2.6M | 50x | as long as short |
| Hyperliquid XLMshort | +0.0591% | 1h | 0.2124 | +0.090% | $12.2M | $6.4M | 5x | |
| Deribit XLM_USDC-PERPETUAL | +0.0977% | 1h | 0.2122 | +0.019% | $526K | $172K | 25x | as long as short |
Bitget XLMUSDT
BingX XLM-USDC
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
Extended XLM-USD
BloFin XLM-USDT
Phoenix XLM
dYdX XLM-USD
Coinbase International XLM-PERP-INTX
GMX XLM/USD [WBTC.b-USDC]
Kraken Futures PF_XLMUSD
Deribit XLM_USDC-PERPETUAL