Funding you earn now, next payment 23:00 UTC+0.0404%/8h= +44.2% APRpaid last 24h +0.027%
Price spread now: Kraken Futures against Phemex−0.091%7-day average +0.013% · you buy dearer than you sell
Net, funding: paid 7d − costs−$62as in the Funding arb table
Net, price: spread back to 7d avg − costs−$61as in the Price arb table
costs, in and out, $10k−$510.507% of the position
Funding, last 7 days−0.109%−$11 on $10k
+Price spread, last 3 days (all we have)+0.074%+$7 · spread now −0.091%, 7d avg +0.013%
=Funding pays, the price is against you. Kraken Futures is 0.105% cheaper against Phemex than usual: you would sell low and buy high (spread −0.091% now, against its 7-day average of +0.013%). If the spread goes back, that is −$10 on $10k: about 21 hours of funding at the current rate (+$12 a day). Mind the row above: over the last 7 days funding on this pair cost −0.109%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.109% in total (about -5.7% 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 | 0.2172 | 0.0100 | pay 0.0100% / 8h | 1h 59m | $9.2M | $9.1M | 50x |
| Short | Kraken Futures PF_XLMUSD | 0.2170 | 0.0504 | get 0.0063% / 1h | 59m 15s | $2.6M | $2.6M | 50x |
Phemex XLMUSDT
Kraken Futures PF_XLMUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- $84.75
- Price spread: −0.091% → +0.013%
- −$10.48
- Slippage, 4 orders
- −$28.68
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $23.59
- Costs to cover
- 0.507%
- Break-even
- 5.1 days
Slippage from Phemex: live order book, 5 min ago; Kraken Futures: live order book, 4 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, 5 min ago | 5.32 bp | 11.3 bp −$11 | 18.6 bp −$186 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 4 min ago | 3.93 bp | 13.8 bp −$14 | 26.4 bp −$264 | 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 | 0.2171 | −0.063% | $4K | — | 150x | as long as short |
| dYdX XLM-USD | +0.0012% | 1h | 0.2166 | −0.302% | $24K | $3K | 10x | as long as short |
| Aster XLMUSDT | +0.0100% | 8h | 0.2173 | +0.032% | $592K | $800K | 75x | as long as short |
| Binance XLMUSDT | +0.0100% | 8h | 0.2172 | −0.005% | $56.4M | $147.3M | 75x | as long as short |
| Bybit XLMUSDT | +0.0100% | 8h | 0.2172 | −0.018% | $44.0M | $42.2M | 75x | as long as short |
| OKX XLM-USDT-SWAP | +0.0100% | 8h | 0.2171 | −0.074% | $13.2M | $41.5M | 50x | as long as short |
| Gate XLM_USDT | +0.0100% | 8h | 0.2171 | −0.069% | $4.0M | $5.8M | 75x | as long as short |
| MEXC XLM_USDT | +0.0100% | 8h | 0.2172 | −0.014% | $25.8M | $25.3M | 300x | as long as short |
| KuCoin XLMUSDTM | +0.0100% | 8h | 0.2172 | −0.032% | $14.7M | $10.5M | 75x | as long as short |
| Bitget XLMUSDT | +0.0100% | 8h | 0.2171 | −0.064% | $26.0M | $18.4M | 75x | as long as short |
gTrade (Gains Network) XLM/USD
dYdX 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 | 0.2172 | −0.041% | — | $7.0M | — | as long as short |
| Backpack XLM_USDC_PERP | +0.0100% | 1h | 0.2172 | −0.037% | $105K | $237K | 20x | as long as short |
| Variational Omni XLM | +0.0100% | 8h | 0.2162 | −0.460% | $240K | $1.1M | — | as long as short |
| edgeX XLMUSDC | +0.0100% | 4h | 0.2165 | −0.334% | $12K | $300K | 10x | as long as short |
| GRVT XLM_USDT_Perp | +0.0100% | 8h | 0.2165 | −0.332% | $602K | $610K | 10x | as long as short |
| ApeX Omni XLMUSDT | +0.0100% | 1h | 0.2165 | −0.331% | $173K | $255K | 50x | as long as short |
| Orderly PERP_XLM_USDC_mythos | +0.0100% | 4h | 0.2171 | −0.064% | $3K | $2K | 10x | as long as short |
| SunX XLM-USDT | +0.0100% | 8h | 0.2170 | −0.129% | $2K | $1.7M | 20x | as long as short |
| SoDEX XLM-USD | +0.0100% | 1h | 0.2171 | −0.051% | $2K | $6K | 5x | as long as short |
| HTX XLM-USDT | +0.0100% | 8h | 0.2170 | −0.110% | $200K | $272K | 20x | as long as short |
| Phemex XLMUSDTlong | +0.0100% | 8h | 0.2172 | long leg | $9.2M | $9.1M | 50x | |
| Extended XLM-USD | +0.0104% | 1h | 0.2171 | −0.047% | $194K | $1.6M | 10x | as long as short |
| Phoenix XLM | +0.0187% | 1h | 0.2163 | −0.410% | $5K | $40K | 5x | as long as short |
| BloFin XLM-USDT | +0.0220% | 8h | 0.2172 | −0.028% | $2.3M | $6.3M | 75x | as long as short |
| GMX XLM/USD [WBTC.b-USDC] | L +0.0315% / S −0.0166% | 1h | 0.2171 | −0.063% | $45K | — | 100x | as long as short |
| Coinbase International XLM-PERP-INTX | +0.0432% | 1h | 0.2170 | −0.092% | $231K | $1.5M | 50x | as long as short |
| Injective XLM/USDC PERP | +0.0475% | 1h | 0.2156 | −0.755% | $116 | $185K | 12x | as long as short |
| Deribit XLM_USDC-PERPETUAL | +0.0487% | 1h | 0.2173 | +0.014% | $539K | $170K | 25x | as long as short |
| Kraken Futures PF_XLMUSDshort | +0.0504% | 1h | 0.2170 | −0.091% | $2.6M | $2.6M | 50x | |
| Lighter XLM | +0.0856% | 1h | 0.2176 | +0.170% | $428K | $803K | 5x | as long as short |
| Hyperliquid XLM | +0.1072% | 1h | 0.2174 | +0.069% | $12.3M | $6.0M | 5x | as long as short |
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
Extended XLM-USD
Phoenix XLM
BloFin XLM-USDT
GMX XLM/USD [WBTC.b-USDC]
Coinbase International XLM-PERP-INTX
Injective XLM/USDC PERP
Deribit XLM_USDC-PERPETUAL
Lighter XLM
Hyperliquid XLM