Funding you earn now, next payment 02:00 UTC−0.0164%/8h= −18.0% APRpaid last 24h −0.012%
Price spread now: Phemex against Phoenix+0.273%73s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
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. Phemex is 0.273% dearer against Phoenix than usual: you sell high and buy low (spread +0.273% now, against zero (this spread has no 7-day history yet)): +$27 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 5.5 days. The two prices were read 73 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 | Phoenix XLM | 0.2122 | 0.0264 | pay 0.0033% / 1h | 33m 31s | $5K | $46K | 5x |
| Short | Phemex XLMUSDT | 0.2127 | 0.0100 | get 0.0100% / 8h | 5h 33m | $8.9M | $8.9M | 50x |
Phoenix XLM
Phemex XLMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Phoenix. 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
- −$34.49
- Price spread: +0.273% → 0.000%
- $27.34
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$26.15
- Costs to cover
- 0.190%
- Break-even
- from the start
Slippage unknown: Phoenix: no order-book sample; Phemex: live order book, 5 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 Phemex live order book, 5 min ago | 2.12 bp | 10.6 bp −$11 | 16.0 bp −$160 | 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 | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) XLM/USD | L 0.0000% / S +0.0002% | 1h | 0.2125 | +0.146% | $4K | — | 150x | as long as short |
| Lighter XLM | +0.0096% | 1h | 0.2131 | +0.448% | $358K | $901K | 5x | as long as short |
| Binance XLMUSDT | +0.0100% | 8h | 0.2132 | +0.476% | $54.6M | $153.3M | 75x | as long as short |
| Bybit XLMUSDT | +0.0100% | 8h | 0.2131 | +0.419% | $43.1M | $45.6M | 75x | as long as short |
| OKX XLM-USDT-SWAP | +0.0100% | 8h | 0.2132 | +0.467% | $12.6M | $41.8M | 50x | as long as short |
| Gate XLM_USDT | +0.0100% | 8h | 0.2129 | +0.363% | $4.1M | $6.7M | 75x | as long as short |
| MEXC XLM_USDT | +0.0100% | 8h | 0.2130 | +0.401% | $23.9M | $26.8M | 300x | as long as short |
| KuCoin XLMUSDTM | +0.0100% | 8h | 0.2130 | +0.368% | $14.1M | $9.9M | 75x | as long as short |
| Bitget XLMUSDT | +0.0100% | 8h | 0.2131 | +0.424% | $25.6M | $20.8M | 75x | as long as short |
| BingX XLM-USDT | +0.0100% | 8h | 0.2130 | +0.405% | — | $7.0M | — | as long as short |
gTrade (Gains Network) XLM/USD
Lighter XLM
Binance XLMUSDT
Bybit XLMUSDT
OKX XLM-USDT-SWAP
Gate XLM_USDT
MEXC XLM_USDT
KuCoin XLMUSDTM
Bitget XLMUSDT
BingX XLM-USDTShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Backpack XLM_USDC_PERP | +0.0100% | 1h | 0.2127 | +0.245% | $93K | $263K | 20x | as long as short |
| Variational Omni XLM | +0.0100% | 8h | 0.2125 | +0.160% | $254K | $1.3M | — | as long as short |
| edgeX XLMUSDC | +0.0100% | 4h | 0.2127 | +0.228% | $12K | $304K | 10x | as long as short |
| GRVT XLM_USDT_Perp | +0.0100% | 8h | 0.2127 | +0.259% | $589K | $598K | 10x | as long as short |
| ApeX Omni XLMUSDT | +0.0100% | 1h | 0.2127 | +0.259% | $170K | $257K | 50x | as long as short |
| Orderly PERP_XLM_USDC_mythos | +0.0100% | 4h | 0.2126 | +0.203% | $3K | $2K | 10x | as long as short |
| SunX XLM-USDT | +0.0100% | 8h | 0.2125 | +0.141% | $2K | $1.6M | 20x | as long as short |
| SoDEX XLM-USD | +0.0100% | 1h | 0.2127 | +0.226% | $2K | $6K | 5x | as long as short |
| HTX XLM-USDT | +0.0100% | 8h | 0.2125 | +0.151% | $196K | $252K | 20x | as long as short |
| Phemex XLMUSDTshort | +0.0100% | 8h | 0.2127 | +0.273% | $8.9M | $8.9M | 50x | |
| Extended XLM-USD | +0.0104% | 1h | 0.2130 | +0.408% | $189K | $1.8M | 10x | as long as short |
| Aster XLMUSDT | +0.0104% | 8h | 0.2128 | +0.292% | $566K | $624K | 75x | as long as short |
| dYdX XLM-USD | +0.0219% | 1h | 0.2129 | +0.324% | $23K | $2K | 10x | as long as short |
| BloFin XLM-USDT | +0.0220% | 8h | 0.2127 | +0.245% | $2.3M | $4.9M | 75x | as long as short |
| Phoenix XLMlong | +0.0264% | 1h | 0.2122 | long leg | $5K | $46K | 5x | |
| Hyperliquid XLM | +0.0450% | 1h | 0.2131 | +0.429% | $12.3M | $6.1M | 5x | as long as short |
| Kraken Futures PF_XLMUSD | +0.0462% | 1h | 0.2127 | +0.265% | $2.6M | $2.6M | 50x | as long as short |
| Coinbase International XLM-PERP-INTX | +0.0464% | 1h | 0.2130 | +0.377% | $233K | $1.5M | 50x | as long as short |
| GMX XLM/USD [WBTC.b-USDC] | L +0.0517% / S −0.0193% | 1h | 0.2125 | +0.143% | $44K | — | 100x | as long as short |
| Deribit XLM_USDC-PERPETUAL | +0.0550% | 1h | 0.2127 | +0.250% | $528K | $153K | 25x | as long as short |
| Injective XLM/USDC PERP | +0.1081% | 1h | 0.2125 | +0.156% | $683 | $241K | 12x | as long as short |
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
Aster XLMUSDT
dYdX XLM-USD
BloFin XLM-USDT
Hyperliquid XLM
Kraken Futures PF_XLMUSD
Coinbase International XLM-PERP-INTX
GMX XLM/USD [WBTC.b-USDC]
Deribit XLM_USDC-PERPETUAL
Injective XLM/USDC PERP