Funding arb · Price arb /

XLM

all XLM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0147%/8h= +16.1% APRpaid last 24h +0.023%

Price spread now: GMX against Phemex−0.035%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on GMX

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

Funding pays, the price is against you. GMX is 0.035% cheaper against Phemex than usual: you would sell low and buy high (spread −0.035% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 19 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XLMUSDT	0.2147	0.0100	pay 0.0100% / 8h	3h 43m	$9.1M	$8.9M	50x
Short	GMX XLM/USD [WBTC.b-USDC]	0.2147	L +0.0521% / S −0.0247%	get 0.0031% / 1h	43m 58s	$40K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Phemex. 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 PhemexbpFee GMXbpOrdersPrice spread, now −0.035%Rate

Funding earned: $30.79
Price spread: −0.035% → 0.000%: −$3.49
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $3.3
Costs to cover: 0.240%
Break-even: 6.3 days

Slippage unknown: Phemex: live order book, 5 min ago; GMX: 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 Phemex live order book, 5 min ago	8.62 bp	17.9 bp −$18	31.5 bp −$315	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	0.2146	−0.044%	$4K	—	150x	as long as short
Injective XLM/USDC PERP	+0.0033%	1h	0.2125	−1.043%	$683	$241K	12x	as long as short
Lighter XLM	+0.0096%	1h	0.2150	+0.144%	$378K	$969K	5x	as long as short
Aster XLMUSDT	+0.0100%	8h	0.2148	+0.007%	$571K	$622K	75x	as long as short
Binance XLMUSDT	+0.0100%	8h	0.2148	+0.009%	$55.1M	$156.9M	75x	as long as short
Bybit XLMUSDT	+0.0100%	8h	0.2147	−0.019%	$43.5M	$46.0M	75x	as long as short
OKX XLM-USDT-SWAP	+0.0100%	8h	0.2147	−0.019%	$12.6M	$43.3M	50x	as long as short
Gate XLM_USDT	+0.0100%	8h	0.2147	−0.014%	$4.0M	$6.9M	75x	as long as short
MEXC XLM_USDT	+0.0100%	8h	0.2147	−0.005%	$24.1M	$26.9M	300x	as long as short
KuCoin XLMUSDTM	+0.0100%	8h	0.2147	−0.005%	$14.1M	$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	0.2147	−0.019%	$26.0M	$21.9M	75x	as long as short
BingX XLM-USDT	+0.0100%	8h	0.2147	−0.019%	—	$7.4M	—	as long as short
Variational Omni XLM	+0.0100%	8h	0.2142	−0.246%	$256K	$1.3M	—	as long as short
edgeX XLMUSDC	+0.0100%	4h	0.2144	−0.169%	$12K	$307K	10x	as long as short
GRVT XLM_USDT_Perp	+0.0100%	8h	0.2144	−0.139%	$601K	$618K	10x	as long as short
ApeX Omni XLMUSDT	+0.0100%	1h	0.2143	−0.224%	$172K	$258K	50x	as long as short
Orderly PERP_XLM_USDC_mythos	+0.0100%	4h	0.2148	+0.028%	$3K	$2K	10x	as long as short
SunX XLM-USDT	+0.0100%	8h	0.2145	−0.116%	$2K	$1.6M	20x	as long as short
SoDEX XLM-USD	+0.0100%	1h	0.2147	0.000%	$585	$6K	5x	as long as short
HTX XLM-USDT	+0.0100%	8h	0.2148	+0.028%	$198K	$254K	20x	as long as short
Phemex XLMUSDTlong	+0.0100%	8h	0.2147	long leg	$9.1M	$8.9M	50x
Extended XLM-USD	+0.0104%	1h	0.2146	−0.046%	$191K	$1.8M	10x	as long as short
Kraken Futures PF_XLMUSD	+0.0184%	1h	0.2147	−0.001%	$2.6M	$2.7M	50x	as long as short
dYdX XLM-USD	+0.0191%	1h	0.2146	−0.083%	$23K	$2K	10x	as long as short
Hyperliquid XLM	+0.0219%	1h	0.2149	+0.079%	$12.4M	$6.3M	5x	as long as short
BloFin XLM-USDT	+0.0220%	8h	0.2147	−0.033%	$2.3M	$5.3M	75x	as long as short
Phoenix XLM	+0.0225%	1h	0.2145	−0.093%	$5K	$46K	5x	as long as short
Coinbase International XLM-PERP-INTX	+0.0464%	1h	0.2148	+0.037%	$249K	$1.6M	50x	as long as short
GMX XLM/USD [WBTC.b-USDC]short	L +0.0521% / S −0.0247%	1h	0.2147	−0.035%	$40K	—	100x
Backpack XLM_USDC_PERP	+0.0686%	1h	0.2148	+0.033%	$128K	$293K	20x	as long as short
Deribit XLM_USDC-PERPETUAL	+0.1101%	1h	0.2150	+0.102%	$533K	$154K	25x	as long as short