Funding arb · Price arb /

XLM

all XLM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0034%/8h= −3.8% APRpaid last 24h +0.014%

Price spread now: Kraken Futures against BloFin−0.096%57s7-day average +0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$440.442% of the position

Long on BloFin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.368%−$37 on $10k

Price spread, last 4 days (all we have)+0.128%+$13 · spread now −0.096%, 7d avg +0.003%

Together, before fees−0.240%−$24 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Kraken Futures is 0.099% cheaper against BloFin than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.003%). Swap the legs. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin XLM-USDT	0.2133	0.0220	pay 0.0220% / 8h	3h 14m	$2.3M	$5.5M	75x
Short	Kraken Futures PF_XLMUSD	0.2131	0.0186	get 0.0023% / 1h	14m 16s	$2.6M	$2.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BloFin. 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 BloFinbpFee Kraken FuturesbpOrdersPrice spread, now −0.096%Rate

Funding earned: −$7.2
Price spread: −0.096% → +0.003%: −$9.94
Slippage, 4 orders: −$22.15
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$61.3
Costs to cover: 0.442%
Break-even: never at this rate

Slippage from BloFin: live order book, 9 min ago; Kraken Futures: live order book, 4 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 BloFin live order book, 9 min ago	0.23 bp	6.5 bp −$6	9.7 bp −$97	22.4 bp −$2,242	doesn't fit
Sell Kraken Futures live order book, 4 min ago	2.11 bp	19.5 bp −$19	31.8 bp −$318	82.3 bp −$8,230	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	0.2129	−0.154%	$4K	—	150x	as long as short
Injective XLM/USDC PERP	+0.0033%	1h	0.2125	−0.361%	$683	$241K	12x	as long as short
Lighter XLM	+0.0096%	1h	0.2134	+0.042%	$375K	$969K	5x	as long as short
Aster XLMUSDT	+0.0100%	8h	0.2131	−0.074%	$567K	$621K	75x	as long as short
Binance XLMUSDT	+0.0100%	8h	0.2131	−0.070%	$54.7M	$158.0M	75x	as long as short
Bybit XLMUSDT	+0.0100%	8h	0.2130	−0.127%	$43.1M	$46.2M	75x	as long as short
OKX XLM-USDT-SWAP	+0.0100%	8h	0.2131	−0.098%	$12.5M	$43.3M	50x	as long as short
Gate XLM_USDT	+0.0100%	8h	0.2130	−0.117%	$4.1M	$7.1M	75x	as long as short
MEXC XLM_USDT	+0.0100%	8h	0.2131	−0.089%	$25.7M	$27.7M	300x	as long as short
KuCoin XLMUSDTM	+0.0100%	8h	0.2130	−0.103%	$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	0.2131	−0.075%	$25.7M	$22.0M	75x	as long as short
BingX XLM-USDC	+0.0100%	8h	0.2130	−0.113%	—	$6.7M	—	as long as short
Variational Omni XLM	+0.0100%	8h	0.2131	−0.074%	$254K	$1.3M	—	as long as short
edgeX XLMUSDC	+0.0100%	4h	0.2135	+0.119%	$12K	$307K	10x	as long as short
GRVT XLM_USDT_Perp	+0.0100%	8h	0.2134	+0.051%	$598K	$618K	10x	as long as short
ApeX Omni XLMUSDT	+0.0100%	1h	0.2135	+0.127%	$171K	$264K	50x	as long as short
Orderly PERP_XLM_USDC_mythos	+0.0100%	4h	0.2131	−0.080%	$3K	$2K	10x	as long as short
SunX XLM-USDT	+0.0100%	8h	0.2128	−0.206%	$2K	$1.6M	20x	as long as short
SoDEX XLM-USD	+0.0100%	1h	0.2130	−0.122%	$580	$6K	5x	as long as short
HTX XLM-USDT	+0.0100%	8h	0.2131	−0.070%	$196K	$250K	20x	as long as short
Phemex XLMUSDT	+0.0100%	8h	0.2131	−0.089%	$8.9M	$9.0M	50x	as long as short
Extended XLM-USD	+0.0104%	1h	0.2130	−0.143%	$192K	$1.8M	10x	as long as short
Kraken Futures PF_XLMUSDshort	+0.0186%	1h	0.2131	−0.096%	$2.6M	$2.7M	50x
Hyperliquid XLM	+0.0191%	1h	0.2132	−0.038%	$12.2M	$6.3M	5x	as long as short
BloFin XLM-USDTlong	+0.0220%	8h	0.2133	long leg	$2.3M	$5.5M	75x
Phoenix XLM	+0.0225%	1h	0.2132	−0.014%	$5K	$46K	5x	as long as short
dYdX XLM-USD	+0.0313%	1h	0.2130	−0.147%	$23K	$2K	10x	as long as short
Backpack XLM_USDC_PERP	+0.0427%	1h	0.2131	−0.080%	$129K	$293K	20x	as long as short
Coinbase International XLM-PERP-INTX	+0.0464%	1h	0.2135	+0.117%	$245K	$1.6M	50x	as long as short
GMX XLM/USD [WBTC.b-USDC]	L +0.0519% / S −0.0247%	1h	0.2129	−0.155%	$39K	—	100x	as long as short
Deribit XLM_USDC-PERPETUAL	+0.0877%	1h	0.2132	−0.038%	$529K	$159K	25x	as long as short