Funding you earn now, next payment 05:00 UTC+0.0430%/8h= +47.1% APRpaid last 24h +0.001%
Price spread now: Backpack against Bybit+0.112%55s7-day average +0.030% · you sell dearer than you buy
Net, funding: paid 7d − costs−$34as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$380.379% of the position
Funding, last 7 days+0.042%+$4 on $10k
+Price spread, last 4 days (all we have)−0.137%−$14 · spread now +0.112%, 7d avg +0.030%
=Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Backpack is 0.082% dearer against Bybit than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.030%. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.042% in total (about 2.2% 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 | Bybit XLMUSDT | 0.2137 | 0.0100 | pay 0.0100% / 8h | 3h 25m | $43.3M | $46.0M | 75x |
| Short | Backpack XLM_USDC_PERP | 0.2139 | 0.0530 | get 0.0066% / 1h | 25m 17s | $128K | $294K | 20x |
Bybit XLMUSDT
Backpack XLM_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Bybit. 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
- $90.29
- Price spread: +0.112% → +0.030%
- $8.22
- Slippage, 4 orders
- −$16.93
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $60.59
- Costs to cover
- 0.379%
- Break-even
- 2.3 days
Slippage from Bybit: live order book, 4 min ago; Backpack: live order book, 28 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 Bybit live order book, 4 min ago | 2.33 bp | 7.8 bp −$8 | 14.9 bp −$149 | 70.0 bp −$7,001 | doesn't fit |
| Sell Backpack live order book, 28 min ago | 0.23 bp | 8.6 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 | 0.2137 | +0.014% | $4K | — | 150x | as long as short |
| Injective XLM/USDC PERP | +0.0033% | 1h | 0.2125 | −0.562% | $683 | $241K | 12x | as long as short |
| Lighter XLM | +0.0096% | 1h | 0.2140 | +0.136% | $376K | $969K | 5x | as long as short |
| Aster XLMUSDT | +0.0100% | 8h | 0.2137 | +0.018% | $568K | $621K | 75x | as long as short |
| Binance XLMUSDT | +0.0100% | 8h | 0.2138 | +0.031% | $54.9M | $157.5M | 75x | as long as short |
| Bybit XLMUSDTlong | +0.0100% | 8h | 0.2137 | long leg | $43.3M | $46.0M | 75x | |
| OKX XLM-USDT-SWAP | +0.0100% | 8h | 0.2137 | 0.000% | $12.5M | $43.2M | 50x | as long as short |
| Gate XLM_USDT | +0.0100% | 8h | 0.2137 | +0.023% | $4.1M | $6.9M | 75x | as long as short |
| MEXC XLM_USDT | +0.0100% | 8h | 0.2138 | +0.051% | $25.4M | $27.4M | 300x | as long as short |
| KuCoin XLMUSDTM | +0.0100% | 8h | 0.2138 | +0.042% | $14.0M | $9.5M | 75x | as long as short |
gTrade (Gains Network) XLM/USD
Injective XLM/USDC PERP
Lighter XLM
Aster XLMUSDT
Binance 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 | 0.2136 | −0.028% | $25.8M | $21.9M | 75x | as long as short |
| BingX XLM-USDT | +0.0100% | 8h | 0.2138 | +0.033% | — | $7.3M | — | as long as short |
| Variational Omni XLM | +0.0100% | 8h | 0.2138 | +0.052% | $256K | $1.3M | — | as long as short |
| edgeX XLMUSDC | +0.0100% | 4h | 0.2140 | +0.154% | $12K | $305K | 10x | as long as short |
| GRVT XLM_USDT_Perp | +0.0100% | 8h | 0.2145 | +0.397% | $601K | $618K | 10x | as long as short |
| ApeX Omni XLMUSDT | +0.0100% | 1h | 0.2140 | +0.150% | $171K | $264K | 50x | as long as short |
| Orderly PERP_XLM_USDC_mythos | +0.0100% | 4h | 0.2137 | 0.000% | $3K | $2K | 10x | as long as short |
| SunX XLM-USDT | +0.0100% | 8h | 0.2136 | −0.056% | $2K | $1.6M | 20x | as long as short |
| SoDEX XLM-USD | +0.0100% | 1h | 0.2137 | −0.023% | $582 | $6K | 5x | as long as short |
| HTX XLM-USDT | +0.0100% | 8h | 0.2140 | +0.122% | $197K | $250K | 20x | as long as short |
| Phemex XLMUSDT | +0.0100% | 8h | 0.2138 | +0.028% | $9.0M | $9.0M | 50x | as long as short |
| Extended XLM-USD | +0.0104% | 1h | 0.2137 | −0.017% | $191K | $1.8M | 10x | as long as short |
| Hyperliquid XLM | +0.0177% | 1h | 0.2140 | +0.145% | $12.3M | $6.3M | 5x | as long as short |
| Kraken Futures PF_XLMUSD | +0.0185% | 1h | 0.2137 | +0.014% | $2.6M | $2.7M | 50x | as long as short |
| BloFin XLM-USDT | +0.0220% | 8h | 0.2140 | +0.126% | $2.3M | $5.5M | 75x | as long as short |
| Phoenix XLM | +0.0225% | 1h | 0.2141 | +0.168% | $5K | $46K | 5x | as long as short |
| dYdX XLM-USD | +0.0301% | 1h | 0.2138 | +0.045% | $23K | $2K | 10x | as long as short |
| Coinbase International XLM-PERP-INTX | +0.0464% | 1h | 0.2141 | +0.173% | $249K | $1.6M | 50x | as long as short |
| GMX XLM/USD [WBTC.b-USDC] | L +0.0520% / S −0.0247% | 1h | 0.2137 | −0.004% | $40K | — | 100x | as long as short |
| Backpack XLM_USDC_PERPshort | +0.0530% | 1h | 0.2139 | +0.112% | $128K | $294K | 20x | |
| Deribit XLM_USDC-PERPETUAL | +0.0780% | 1h | 0.2139 | +0.084% | $530K | $157K | 25x | as long as short |
Bitget XLMUSDT
BingX XLM-USDT
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
Phemex XLMUSDT
Extended XLM-USD
Hyperliquid XLM
Kraken Futures PF_XLMUSD
BloFin XLM-USDT
Phoenix XLM
dYdX XLM-USD
Coinbase International XLM-PERP-INTX
GMX XLM/USD [WBTC.b-USDC]
Deribit XLM_USDC-PERPETUAL