Funding you earn now, next payment 08:00 UTC+0.0430%/8h= +47.1% APRnext payment +$0.54 per $10,000 · paid last 24h +0.043%
Price spread now: Kraken Futures against Backpack−0.061%7-day average +0.014% · you buy dearer than you sell
Net, funding: paid 7d − costs−$56as in the Funding arb table
Net, price: spread back to 7d avg − costs−$51as in the Price arb table
costs, in and out, $10k−$440.440% of the position
Funding, last 7 days−0.119%−$12 on $10k
+Price spread, last 4 days (all we have)+0.069%+$7 · spread now −0.061%, 7d avg +0.014%
=Funding pays, the price is against you. Kraken Futures is 0.075% cheaper against Backpack than usual: you would sell low and buy high (spread −0.061% now, against its 7-day average of +0.014%). If the spread goes back, that is −$8 on $10k: about 14 hours of funding at the current rate (+$13 a day). Mind the row above: over the last 7 days funding on this pair cost −0.119%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.119% in total (about -6.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.54 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 | Backpack XLM_USDC_PERP | 0.2123 | 0.0119 | pay 0.0015% / 1h | 14m 04s | $130K | $342K | 20x |
| Short | Kraken Futures PF_XLMUSD | 0.2122 | 0.0549 | get 0.0069% / 1h | 14m 04s | $2.6M | $2.6M | 50x |
Backpack XLM_USDC_PERP
Kraken Futures PF_XLMUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Backpack. 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
- $90.35
- Price spread: −0.061% → +0.014%
- −$7.51
- Slippage, 4 orders
- −$23.96
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $38.89
- Costs to cover
- 0.440%
- Break-even
- 4.0 days
Slippage from Backpack: live order book, 25 min ago; Kraken Futures: live order book, 5 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 Backpack live order book, 25 min ago | 1.42 bp | 8.4 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 5 min ago | 4.72 bp | 11.8 bp −$12 | 21.1 bp −$211 | 75.4 bp −$7,544 | 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 | 0.2121 | −0.128% | $4K | — | 150x | as long as short |
| Injective XLM/USDC PERP | +0.0033% | 1h | 0.2125 | +0.080% | $683 | $241K | 12x | as long as short |
| Lighter XLM | +0.0096% | 1h | 0.2125 | +0.075% | $366K | $943K | 5x | as long as short |
| Aster XLMUSDT | +0.0100% | 8h | 0.2121 | −0.099% | $562K | $596K | 75x | as long as short |
| Binance XLMUSDT | +0.0100% | 8h | 0.2123 | −0.035% | $54.3M | $158.6M | 75x | as long as short |
| Bybit XLMUSDT | +0.0100% | 8h | 0.2121 | −0.094% | $43.1M | $46.3M | 75x | as long as short |
| OKX XLM-USDT-SWAP | +0.0100% | 8h | 0.2123 | 0.000% | $12.1M | $44.8M | 50x | as long as short |
| Gate XLM_USDT | +0.0100% | 8h | 0.2121 | −0.104% | $3.9M | $7.7M | 75x | as long as short |
| MEXC XLM_USDT | +0.0100% | 8h | 0.2123 | −0.019% | $24.7M | $29.3M | 300x | as long as short |
| KuCoin XLMUSDTM | +0.0100% | 8h | 0.2122 | −0.057% | $14.0M | $9.2M | 75x | as long as short |
gTrade (Gains Network) XLM/USD
Injective XLM/USDC PERP
Lighter XLM
Aster XLMUSDT
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 | 0.2122 | −0.052% | $25.6M | $22.6M | 75x | as long as short |
| BingX XLM-USDT | +0.0100% | 8h | 0.2122 | −0.047% | — | $7.4M | — | as long as short |
| Variational Omni XLM | +0.0100% | 8h | 0.2119 | −0.194% | $252K | $1.3M | — | as long as short |
| edgeX XLMUSDC | +0.0100% | 4h | 0.2120 | −0.176% | $12K | $309K | 10x | as long as short |
| GRVT XLM_USDT_Perp | +0.0100% | 8h | 0.2120 | −0.137% | $586K | $562K | 10x | as long as short |
| ApeX Omni XLMUSDT | +0.0100% | 1h | 0.2120 | −0.141% | $170K | $264K | 50x | as long as short |
| Orderly PERP_XLM_USDC_mythos | +0.0100% | 4h | 0.2122 | −0.061% | $3K | $247 | 10x | as long as short |
| SunX XLM-USDT | +0.0100% | 8h | 0.2118 | −0.231% | $2K | $1.6M | 20x | as long as short |
| SoDEX XLM-USD | +0.0100% | 1h | 0.2122 | −0.042% | $578 | $6K | 5x | as long as short |
| HTX XLM-USDT | +0.0100% | 8h | 0.2121 | −0.108% | $195K | $220K | 20x | as long as short |
| Phemex XLMUSDT | +0.0100% | 8h | 0.2122 | −0.071% | $8.7M | $8.9M | 50x | as long as short |
| Extended XLM-USD | +0.0104% | 1h | 0.2122 | −0.042% | $189K | $1.2M | 10x | as long as short |
| Backpack XLM_USDC_PERPlong | +0.0119% | 1h | 0.2123 | long leg | $130K | $342K | 20x | |
| BloFin XLM-USDT | +0.0220% | 8h | 0.2120 | −0.141% | $2.3M | $5.5M | 75x | as long as short |
| dYdX XLM-USD | +0.0262% | 1h | 0.2121 | −0.122% | $23K | $2K | 10x | as long as short |
| Phoenix XLM | +0.0264% | 1h | 0.2121 | −0.122% | $4K | $50K | 5x | as long as short |
| Coinbase International XLM-PERP-INTX | +0.0376% | 1h | 0.2114 | −0.443% | $219K | $1.6M | 50x | as long as short |
| GMX XLM/USD [WBTC.b-USDC] | L +0.0518% / S −0.0247% | 1h | 0.2119 | −0.215% | $39K | — | 100x | as long as short |
| Kraken Futures PF_XLMUSDshort | +0.0549% | 1h | 0.2122 | −0.061% | $2.6M | $2.6M | 50x | |
| Hyperliquid XLM | +0.0597% | 1h | 0.2126 | +0.108% | $12.1M | $6.4M | 5x | as long as short |
| Deribit XLM_USDC-PERPETUAL | +0.0928% | 1h | 0.2124 | +0.047% | $527K | $172K | 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
BloFin XLM-USDT
dYdX XLM-USD
Phoenix XLM
Coinbase International XLM-PERP-INTX
GMX XLM/USD [WBTC.b-USDC]
Hyperliquid XLM
Deribit XLM_USDC-PERPETUAL