Funding arb · Price arb /

XLM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0122%/8h= −13.4% APRpaid last 24h −0.007%

Price spread now: HTX against Phoenix+0.264%7-day average — · you sell dearer than you buy

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

Long on Phoenix Short on HTX

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

The price spread pays, funding is against you. HTX is 0.264% dearer against Phoenix than usual: you sell high and buy low (spread +0.264% now, against zero (this spread has no 7-day history yet)): +$26 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 7.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix XLM	0.2157	0.0222	pay 0.0028% / 1h	54m 36s	$5K	$42K	5x
Short	HTX XLM-USDT	0.2162	0.0100	get 0.0100% / 8h	7h 54m	$199K	$256K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Phoenix. 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 PhoenixbpFee HTXbpOrdersPrice spread, now +0.264%Rate

Funding earned: −$25.66
Price spread: +0.264% → 0.000%: $26.43
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$18.23
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: Phoenix: no order-book sample; HTX: live order book, 17 min ago. 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 Phoenix no order-book sample	—	—	—	—	—
Sell HTX live order book, 17 min ago	24.84 bp	45.8 bp −$46	doesn't fit	doesn't fit	doesn't fit

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
Injective XLM/USDC PERP	−0.5000%	1h	0.2157	+0.019%	$736	$241K	12x	as long as short
gTrade (Gains Network) XLM/USD	L 0.0000% / S +0.0002%	1h	0.2159	+0.105%	$4K	—	150x	as long as short
dYdX XLM-USD	+0.0075%	1h	0.2160	+0.146%	$23K	$3K	10x	as long as short
Aster XLMUSDT	+0.0100%	8h	0.2165	+0.389%	$580K	$752K	75x	as long as short
Binance XLMUSDT	+0.0100%	8h	0.2161	+0.209%	$55.7M	$151.2M	75x	as long as short
Bybit XLMUSDT	+0.0100%	8h	0.2161	+0.199%	$44.0M	$44.2M	75x	as long as short
OKX XLM-USDT-SWAP	+0.0100%	8h	0.2161	+0.213%	$13.1M	$41.7M	50x	as long as short
Gate XLM_USDT	+0.0100%	8h	0.2161	+0.195%	$4.1M	$6.2M	75x	as long as short
MEXC XLM_USDT	+0.0100%	8h	0.2161	+0.209%	$24.9M	$26.1M	300x	as long as short
KuCoin XLMUSDTM	+0.0100%	8h	0.2160	+0.181%	$14.4M	$10.4M	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	0.2161	+0.213%	$25.6M	$19.4M	75x	as long as short
BingX XLM-USDT	+0.0100%	8h	0.2161	+0.223%	—	$7.1M	—	as long as short
Variational Omni XLM	+0.0100%	8h	0.2163	+0.306%	$284K	$1.3M	—	as long as short
edgeX XLMUSDC	+0.0100%	4h	0.2161	+0.185%	$12K	$300K	10x	as long as short
GRVT XLM_USDT_Perp	+0.0100%	8h	0.2163	+0.285%	$598K	$604K	10x	as long as short
ApeX Omni XLMUSDT	+0.0100%	1h	0.2160	+0.153%	$173K	$258K	50x	as long as short
Orderly PERP_XLM_USDC_mythos	+0.0100%	4h	0.2160	+0.158%	$3K	$2K	10x	as long as short
SunX XLM-USDT	+0.0100%	8h	0.2162	+0.246%	$2K	$1.7M	20x	as long as short
SoDEX XLM-USD	+0.0100%	1h	0.2160	+0.139%	$2K	$6K	5x	as long as short
HTX XLM-USDTshort	+0.0100%	8h	0.2162	+0.264%	$199K	$256K	20x
Phemex XLMUSDT	+0.0100%	8h	0.2160	+0.153%	$9.0M	$9.1M	50x	as long as short
Lighter XLM	+0.0104%	1h	0.2162	+0.250%	$400K	$836K	5x	as long as short
Extended XLM-USD	+0.0104%	1h	0.2161	+0.206%	$193K	$1.6M	10x	as long as short
Kraken Futures PF_XLMUSD	+0.0183%	1h	0.2160	+0.137%	$2.6M	$2.6M	50x	as long as short
BloFin XLM-USDT	+0.0220%	8h	0.2160	+0.153%	$2.3M	$5.5M	75x	as long as short
Phoenix XLMlong	+0.0222%	1h	0.2157	long leg	$5K	$42K	5x
Hyperliquid XLM	+0.0261%	1h	0.2163	+0.277%	$12.3M	$6.1M	5x	as long as short
Backpack XLM_USDC_PERP	+0.0290%	1h	0.2160	+0.153%	$89K	$269K	20x	as long as short
GMX XLM/USD [WBTC.b-USDC]	L +0.0316% / S −0.0167%	1h	0.2159	+0.101%	$45K	—	100x	as long as short
Coinbase International XLM-PERP-INTX	+0.0448%	1h	0.2161	+0.204%	$230K	$1.5M	50x	as long as short
Deribit XLM_USDC-PERPETUAL	+0.0723%	1h	0.2161	+0.209%	$536K	$161K	25x	as long as short