Funding arb · Price arb /

XLM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0417%/8h= −45.7% APRpaid last 24h −0.066%

Price spread now: Orderly against GMX+0.058%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 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. Orderly is 0.058% dearer against GMX than usual: you sell high and buy low (spread +0.058% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 11 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX XLM/USD [WBTC.b-USDC]	0.2118	L +0.0517% / S −0.0247%	pay 0.0065% / 1h	41m 45s	$39K	—	100x
Short	Orderly PERP_XLM_USDC_mythos	0.2119	0.0100	get 0.0050% / 4h	1h 41m	$3K	$2K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against GMX. 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 GMXbpFee OrderlybpOrdersPrice spread, now +0.058%Rate

Funding earned: −$87.64
Price spread: +0.058% → 0.000%: $5.76
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$99.88
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Orderly: no order-book sample. 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 GMX no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

GMX and Orderly: 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	0.2118	−0.009%	$4K	—	150x	as long as short
Injective XLM/USDC PERP	+0.0033%	1h	0.2125	+0.341%	$683	$241K	12x	as long as short
Lighter XLM	+0.0096%	1h	0.2122	+0.185%	$355K	$931K	5x	as long as short
Aster XLMUSDT	+0.0100%	8h	0.2119	+0.077%	$562K	$634K	75x	as long as short
Binance XLMUSDT	+0.0100%	8h	0.2121	+0.155%	$54.5M	$163.4M	75x	as long as short
Bybit XLMUSDT	+0.0100%	8h	0.2119	+0.058%	$42.9M	$47.7M	75x	as long as short
OKX XLM-USDT-SWAP	+0.0100%	8h	0.2121	+0.138%	$12.2M	$44.6M	50x	as long as short
Gate XLM_USDT	+0.0100%	8h	0.2118	−0.008%	$4.0M	$7.8M	75x	as long as short
MEXC XLM_USDT	+0.0100%	8h	0.2120	+0.091%	$24.8M	$28.7M	300x	as long as short
KuCoin XLMUSDTM	+0.0100%	8h	0.2119	+0.048%	$14.0M	$9.5M	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	0.2120	+0.091%	$25.5M	$23.0M	75x	as long as short
BingX XLM-USDC	+0.0100%	8h	0.2119	+0.081%	—	$6.7M	—	as long as short
Variational Omni XLM	+0.0100%	8h	0.2112	−0.267%	$252K	$1.3M	—	as long as short
edgeX XLMUSDC	+0.0100%	4h	0.2117	−0.055%	$12K	$309K	10x	as long as short
GRVT XLM_USDT_Perp	+0.0100%	8h	0.2116	−0.093%	$593K	$615K	10x	as long as short
ApeX Omni XLMUSDT	+0.0100%	1h	0.2118	+0.025%	$170K	$265K	50x	as long as short
Orderly PERP_XLM_USDC_mythosshort	+0.0100%	4h	0.2119	+0.058%	$3K	$2K	10x
SunX XLM-USDT	+0.0100%	8h	0.2116	−0.065%	$2K	$1.7M	20x	as long as short
SoDEX XLM-USD	+0.0100%	1h	0.2118	−0.004%	$577	$6K	5x	as long as short
HTX XLM-USDT	+0.0100%	8h	0.2117	−0.037%	$195K	$252K	20x	as long as short
Phemex XLMUSDT	+0.0100%	8h	0.2119	+0.072%	$8.7M	$9.1M	50x	as long as short
Extended XLM-USD	+0.0104%	1h	0.2119	+0.038%	$188K	$1.7M	10x	as long as short
Backpack XLM_USDC_PERP	+0.0197%	1h	0.2119	+0.058%	$129K	$329K	20x	as long as short
dYdX XLM-USD	+0.0197%	1h	0.2118	−0.008%	$23K	$2K	10x	as long as short
Hyperliquid XLM	+0.0200%	1h	0.2122	+0.176%	$12.1M	$6.6M	5x	as long as short
BloFin XLM-USDT	+0.0220%	8h	0.2120	+0.091%	$2.3M	$5.6M	75x	as long as short
Phoenix XLM	+0.0263%	1h	0.2119	+0.053%	$4K	$50K	5x	as long as short
Kraken Futures PF_XLMUSD	+0.0333%	1h	0.2119	+0.074%	$2.6M	$2.7M	50x	as long as short
Coinbase International XLM-PERP-INTX	+0.0408%	1h	0.2118	+0.010%	$221K	$1.7M	50x	as long as short
GMX XLM/USD [WBTC.b-USDC]long	L +0.0517% / S −0.0247%	1h	0.2118	long leg	$39K	—	100x
Deribit XLM_USDC-PERPETUAL	+0.1072%	1h	0.2121	+0.138%	$526K	$168K	25x	as long as short