Funding you earn now, next payment 08:00 UTC−0.0120%/8h= −13.1% APRnext payment −$1.20 per $10,000 · paid last 24h −0.036%
Price spread now: Phemex against BloFin+0.132%59s7-day average −0.008% · you sell dearer than you buy
Net, funding: paid 7d − costs−$68as 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−$350.348% of the position
Funding, last 7 days−0.329%−$33 on $10k
+Price spread, last 4 days (all we have)−0.142%−$14 · spread now +0.132%, 7d avg −0.008%
=The price spread pays, funding is against you. Phemex is 0.140% dearer against BloFin than usual: you sell high and buy low (spread +0.132% now, against its 7-day average of −0.008%): +$14 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 3.9 days. The two prices were read 59 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 | 0.2120 | 0.0220 | pay 0.0220% / 8h | 51m 24s | $2.3M | $5.5M | 75x |
| Short | Phemex XLMUSDT | 0.2123 | 0.0100 | get 0.0100% / 8h | 51m 24s | $8.7M | $9.0M | 50x |
BloFin XLM-USDT
Phemex XLMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against BloFin. 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
- −$25.2
- Price spread: +0.132% → −0.008%
- $13.97
- Slippage, 4 orders
- −$10.79
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$46.02
- Costs to cover
- 0.348%
- Break-even
- never at this rate
Slippage from BloFin: live order book, 2 min ago; Phemex: live order book, 3 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, 2 min ago | 0.24 bp | 6.3 bp −$6 | 9.0 bp −$90 | 23.9 bp −$2,393 | doesn't fit |
| Sell Phemex live order book, 3 min ago | 4.71 bp | 11.1 bp −$11 | 19.2 bp −$192 | doesn't fit | 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 | 0.2122 | +0.058% | $4K | — | 150x | as long as short |
| Injective XLM/USDC PERP | +0.0033% | 1h | 0.2125 | +0.222% | $683 | $241K | 12x | as long as short |
| Lighter XLM | +0.0096% | 1h | 0.2128 | +0.349% | $367K | $941K | 5x | as long as short |
| Aster XLMUSDT | +0.0100% | 8h | 0.2124 | +0.179% | $564K | $615K | 75x | as long as short |
| Binance XLMUSDT | +0.0100% | 8h | 0.2123 | +0.133% | $54.5M | $162.1M | 75x | as long as short |
| Bybit XLMUSDT | +0.0100% | 8h | 0.2121 | +0.047% | $43.0M | $47.2M | 75x | as long as short |
| OKX XLM-USDT-SWAP | +0.0100% | 8h | 0.2121 | +0.042% | $12.2M | $44.2M | 50x | as long as short |
| Gate XLM_USDT | +0.0100% | 8h | 0.2123 | +0.108% | $4.0M | $7.7M | 75x | as long as short |
| MEXC XLM_USDT | +0.0100% | 8h | 0.2123 | +0.132% | $24.4M | $28.8M | 300x | as long as short |
| KuCoin XLMUSDTM | +0.0100% | 8h | 0.2122 | +0.104% | $14.0M | $9.4M | 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 | +0.061% | $25.5M | $22.7M | 75x | as long as short |
| BingX XLM-USDT | +0.0100% | 8h | 0.2123 | +0.113% | — | $7.3M | — | as long as short |
| Variational Omni XLM | +0.0100% | 8h | 0.2113 | −0.339% | $252K | $1.3M | — | as long as short |
| edgeX XLMUSDC | +0.0100% | 4h | 0.2120 | −0.004% | $12K | $308K | 10x | as long as short |
| GRVT XLM_USDT_Perp | +0.0100% | 8h | 0.2123 | +0.116% | $595K | $585K | 10x | as long as short |
| ApeX Omni XLMUSDT | +0.0100% | 1h | 0.2119 | −0.085% | $170K | $264K | 50x | as long as short |
| Orderly PERP_XLM_USDC_mythos | +0.0100% | 4h | 0.2122 | +0.080% | $3K | $2K | 10x | as long as short |
| SunX XLM-USDT | +0.0100% | 8h | 0.2123 | +0.108% | $2K | $1.6M | 20x | as long as short |
| SoDEX XLM-USD | +0.0100% | 1h | 0.2121 | +0.052% | $578 | $6K | 5x | as long as short |
| HTX XLM-USDT | +0.0100% | 8h | 0.2121 | +0.038% | $195K | $249K | 20x | as long as short |
| Phemex XLMUSDTshort | +0.0100% | 8h | 0.2123 | +0.132% | $8.7M | $9.0M | 50x | |
| Extended XLM-USD | +0.0104% | 1h | 0.2123 | +0.108% | $189K | $1.4M | 10x | as long as short |
| BloFin XLM-USDTlong | +0.0220% | 8h | 0.2120 | long leg | $2.3M | $5.5M | 75x | |
| Backpack XLM_USDC_PERP | +0.0238% | 1h | 0.2123 | +0.141% | $130K | $347K | 20x | as long as short |
| Phoenix XLM | +0.0264% | 1h | 0.2123 | +0.137% | $4K | $50K | 5x | as long as short |
| Coinbase International XLM-PERP-INTX | +0.0376% | 1h | 0.2115 | −0.241% | $220K | $1.6M | 50x | as long as short |
| dYdX XLM-USD | +0.0381% | 1h | 0.2123 | +0.108% | $23K | $2K | 10x | as long as short |
| GMX XLM/USD [WBTC.b-USDC] | L +0.0517% / S −0.0247% | 1h | 0.2120 | −0.033% | $39K | — | 100x | as long as short |
| Kraken Futures PF_XLMUSD | +0.0549% | 1h | 0.2123 | +0.121% | $2.6M | $2.7M | 50x | as long as short |
| Hyperliquid XLM | +0.0640% | 1h | 0.2126 | +0.255% | $12.1M | $6.5M | 5x | as long as short |
| Deribit XLM_USDC-PERPETUAL | +0.1024% | 1h | 0.2123 | +0.113% | $526K | $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
Extended XLM-USD
Backpack XLM_USDC_PERP
Phoenix XLM
Coinbase International XLM-PERP-INTX
dYdX XLM-USD
GMX XLM/USD [WBTC.b-USDC]
Kraken Futures PF_XLMUSD
Hyperliquid XLM
Deribit XLM_USDC-PERPETUAL