Funding arb · Price arb /

XLM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0122%/8h= +13.4% APRpaid last 24h +0.007%

Price spread now: Phoenix against Bitget−0.130%7-day average — · you buy dearer than you sell

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

Long on Bitget Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 5 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. Phoenix is 0.130% cheaper against Bitget than usual: you would sell low and buy high (spread −0.130% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 3.5 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget XLMUSDT	0.2159	0.0100	pay 0.0100% / 8h	7h 55m	$25.6M	$19.4M	75x
Short	Phoenix XLM	0.2157	0.0222	get 0.0028% / 1h	55m 35s	$5K	$42K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Bitget. 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 BitgetbpFee PhoenixbpOrdersPrice spread, now −0.130%Rate

Funding earned: $25.66
Price spread: −0.130% → 0.000%: −$12.97
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$6.31
Costs to cover: 0.190%
Break-even: 8.7 days

Slippage unknown: Bitget: live order book, 3 min ago; Phoenix: 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 Bitget live order book, 3 min ago	0.23 bp	8.3 bp −$8	16.2 bp −$162	38.9 bp −$3,890	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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
Injective XLM/USDC PERP	−0.5000%	1h	0.2157	−0.111%	$736	$241K	12x	as long as short
gTrade (Gains Network) XLM/USD	L 0.0000% / S +0.0002%	1h	0.2163	+0.150%	$4K	—	150x	as long as short
dYdX XLM-USD	+0.0029%	1h	0.2160	+0.013%	$23K	$3K	10x	as long as short
Aster XLMUSDT	+0.0100%	8h	0.2164	+0.233%	$580K	$752K	75x	as long as short
Binance XLMUSDT	+0.0100%	8h	0.2160	+0.043%	$55.7M	$151.1M	75x	as long as short
Bybit XLMUSDT	+0.0100%	8h	0.2160	+0.019%	$43.9M	$44.2M	75x	as long as short
OKX XLM-USDT-SWAP	+0.0100%	8h	0.2159	0.000%	$13.1M	$41.7M	50x	as long as short
Gate XLM_USDT	+0.0100%	8h	0.2162	+0.111%	$4.1M	$6.1M	75x	as long as short
MEXC XLM_USDT	+0.0100%	8h	0.2161	+0.079%	$24.9M	$26.0M	300x	as long as short
KuCoin XLMUSDTM	+0.0100%	8h	0.2160	+0.046%	$14.4M	$10.4M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget XLMUSDTlong	+0.0100%	8h	0.2159	long leg	$25.6M	$19.4M	75x
BingX XLM-USDT	+0.0100%	8h	0.2160	+0.046%	—	$7.1M	—	as long as short
Variational Omni XLM	+0.0100%	8h	0.2163	+0.176%	$284K	$1.3M	—	as long as short
edgeX XLMUSDC	+0.0100%	4h	0.2161	+0.055%	$12K	$300K	10x	as long as short
GRVT XLM_USDT_Perp	+0.0100%	8h	0.2163	+0.155%	$598K	$604K	10x	as long as short
ApeX Omni XLMUSDT	+0.0100%	1h	0.2160	+0.023%	$173K	$258K	50x	as long as short
Orderly PERP_XLM_USDC_mythos	+0.0100%	4h	0.2163	+0.167%	$3K	$2K	10x	as long as short
SunX XLM-USDT	+0.0100%	8h	0.2165	+0.273%	$2K	$1.7M	20x	as long as short
SoDEX XLM-USD	+0.0100%	1h	0.2165	+0.236%	$2K	$6K	5x	as long as short
HTX XLM-USDT	+0.0100%	8h	0.2164	+0.208%	$199K	$256K	20x	as long as short
Phemex XLMUSDT	+0.0100%	8h	0.2164	+0.222%	$9.0M	$9.1M	50x	as long as short
Lighter XLM	+0.0104%	1h	0.2163	+0.162%	$400K	$836K	5x	as long as short
Extended XLM-USD	+0.0104%	1h	0.2160	+0.047%	$193K	$1.6M	10x	as long as short
Kraken Futures PF_XLMUSD	+0.0183%	1h	0.2165	+0.257%	$2.6M	$2.6M	50x	as long as short
BloFin XLM-USDT	+0.0220%	8h	0.2161	+0.088%	$2.3M	$5.5M	75x	as long as short
Phoenix XLMshort	+0.0222%	1h	0.2157	−0.130%	$5K	$42K	5x
Hyperliquid XLM	+0.0267%	1h	0.2164	+0.194%	$12.3M	$6.2M	5x	as long as short
GMX XLM/USD [WBTC.b-USDC]	L +0.0316% / S −0.0167%	1h	0.2162	+0.144%	$45K	—	100x	as long as short
Backpack XLM_USDC_PERP	+0.0319%	1h	0.2165	+0.264%	$89K	$269K	20x	as long as short
Coinbase International XLM-PERP-INTX	+0.0448%	1h	0.2161	+0.079%	$230K	$1.5M	50x	as long as short
Deribit XLM_USDC-PERPETUAL	+0.0860%	1h	0.2165	+0.273%	$537K	$161K	25x	as long as short