Funding you earn now, next payment 00:00 UTC−0.0233%/8h= −25.5% APRnext payment −$0.29 per $10,000 · paid last 24h −0.051%
Price spread now: Coinbase International against Deribit+0.060%7-day average +0.010% · you sell dearer than you buy
Net, funding: paid 7d − costs−$40as in the Funding arb table
Net, price: spread back to 7d avg − costs−$39as in the Price arb table
costs, in and out, $10k−$440.440% of the position
Funding, last 7 days+0.035%+$4 on $10k
+Price spread, last 3 days (all we have)−0.127%−$13 · spread now +0.060%, 7d avg +0.010%
=The price spread pays, funding is against you. Coinbase International is 0.050% dearer against Deribit than usual: you sell high and buy low (spread +0.060% now, against its 7-day average of +0.010%): +$5 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 17 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.035% in total (about 1.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.29 per $10,000. 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 | Deribit XLM_USDC-PERPETUAL | 0.2150 | 0.0681 | pay 0.0085% / 1h | 1m 48s | $534K | $150K | 25x |
| Short | Coinbase International XLM-PERP-INTX | 0.2152 | 0.0448 | get 0.0056% / 1h | 1m 48s | $232K | $1.5M | 50x |
Deribit XLM_USDC-PERPETUAL
Coinbase International XLM-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Deribit. 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
- −$48.93
- Price spread: +0.060% → +0.010%
- $5.03
- Slippage, 4 orders
- −$26.98
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$87.89
- Costs to cover
- 0.440%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 7 min ago; Coinbase International: 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 Deribit live order book, 7 min ago | 3.70 bp | 7.2 bp −$7 | 15.1 bp −$151 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 2 min ago | 5.81 bp | 14.0 bp −$14 | 18.7 bp −$187 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective XLM/USDC PERP | −0.5000% | 1h | 0.2157 | +0.307% | $736 | $241K | 12x | as long as short |
| gTrade (Gains Network) XLM/USD | L 0.0000% / S +0.0002% | 1h | 0.2149 | −0.088% | $4K | — | 150x | as long as short |
| dYdX XLM-USD | +0.0064% | 1h | 0.2150 | −0.014% | $23K | $2K | 10x | as long as short |
| Lighter XLM | +0.0096% | 1h | 0.2148 | −0.102% | $395K | $839K | 5x | as long as short |
| Binance XLMUSDT | +0.0100% | 8h | 0.2146 | −0.210% | $55.2M | $150.5M | 75x | as long as short |
| Bybit XLMUSDT | +0.0100% | 8h | 0.2146 | −0.219% | $44.1M | $44.1M | 75x | as long as short |
| OKX XLM-USDT-SWAP | +0.0100% | 8h | 0.2145 | −0.256% | $13.0M | $40.9M | 50x | as long as short |
| Gate XLM_USDT | +0.0100% | 8h | 0.2147 | −0.135% | $4.1M | $6.4M | 75x | as long as short |
| MEXC XLM_USDT | +0.0100% | 8h | 0.2148 | −0.102% | $24.9M | $26.8M | 300x | as long as short |
| KuCoin XLMUSDTM | +0.0100% | 8h | 0.2147 | −0.158% | $14.3M | $10.0M | 75x | as long as short |
Injective XLM/USDC PERP
gTrade (Gains Network) XLM/USD
dYdX XLM-USD
Lighter XLM
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 | 0.2146 | −0.205% | $25.6M | $19.7M | 75x | as long as short |
| BingX XLM-USDC | +0.0100% | 8h | 0.2147 | −0.135% | — | $6.7M | — | as long as short |
| Backpack XLM_USDC_PERP | +0.0100% | 1h | 0.2148 | −0.121% | $88K | $259K | 20x | as long as short |
| Variational Omni XLM | +0.0100% | 8h | 0.2159 | +0.405% | $283K | $1.3M | — | as long as short |
| edgeX XLMUSDC | +0.0100% | 4h | 0.2166 | +0.705% | $12K | $302K | 10x | as long as short |
| GRVT XLM_USDT_Perp | +0.0100% | 8h | 0.2161 | +0.509% | $609K | $578K | 10x | as long as short |
| ApeX Omni XLMUSDT | +0.0100% | 1h | 0.2160 | +0.446% | $173K | $258K | 50x | as long as short |
| Orderly PERP_XLM_USDC_mythos | +0.0100% | 4h | 0.2150 | −0.019% | $3K | $2K | 10x | as long as short |
| SunX XLM-USDT | +0.0100% | 8h | 0.2142 | −0.414% | $2K | $1.6M | 20x | as long as short |
| SoDEX XLM-USD | +0.0100% | 1h | 0.2148 | −0.116% | $2K | $6K | 5x | as long as short |
| HTX XLM-USDT | +0.0100% | 8h | 0.2150 | +0.005% | $198K | $257K | 20x | as long as short |
| Phemex XLMUSDT | +0.0100% | 8h | 0.2149 | −0.074% | $9.0M | $9.0M | 50x | as long as short |
| Extended XLM-USD | +0.0104% | 1h | 0.2147 | −0.154% | $193K | $1.7M | 10x | as long as short |
| Aster XLMUSDT | +0.0148% | 8h | 0.2148 | −0.095% | $576K | $619K | 75x | as long as short |
| Kraken Futures PF_XLMUSD | +0.0184% | 1h | 0.2149 | −0.059% | $2.6M | $2.6M | 50x | as long as short |
| BloFin XLM-USDT | +0.0220% | 8h | 0.2152 | +0.070% | $2.3M | $5.3M | 75x | as long as short |
| Phoenix XLM | +0.0223% | 1h | 0.2163 | +0.567% | $5K | $42K | 5x | as long as short |
| Coinbase International XLM-PERP-INTXshort | +0.0448% | 1h | 0.2152 | +0.060% | $232K | $1.5M | 50x | |
| Hyperliquid XLM | +0.0529% | 1h | 0.2150 | −0.042% | $12.5M | $6.3M | 5x | as long as short |
| GMX XLM/USD [WBTC.b-USDC] | L +0.0620% / S −0.1281% | 1h | 0.2148 | −0.090% | $173K | — | 100x | as long as short |
| Deribit XLM_USDC-PERPETUALlong | +0.0681% | 1h | 0.2150 | long leg | $534K | $150K | 25x |
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
Phemex XLMUSDT
Extended XLM-USD
Aster XLMUSDT
Kraken Futures PF_XLMUSD
BloFin XLM-USDT
Phoenix XLM
Hyperliquid XLM
GMX XLM/USD [WBTC.b-USDC]