Funding arb · Price arb /

XLM

all XLM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0067%/8h= +7.4% APRpaid last 24h +0.008%

Price spread now: GMX against Bybit−0.180%7-day average — · you buy dearer than you sell

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

Long on Bybit 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 0.180% cheaper against Bybit than usual: you would sell low and buy high (spread −0.180% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$18 on $10k: about 8.9 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XLMUSDT	0.2164	0.0100	pay 0.0100% / 8h	7h 52m	$44.1M	$44.3M	75x
Short	GMX XLM/USD [WBTC.b-USDC]	0.2161	L +0.0316% / S −0.0167%	get 0.0021% / 1h	52m 45s	$45K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bybit. 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 BybitbpFee GMXbpOrdersPrice spread, now −0.180%Rate

Funding earned: $14.16
Price spread: −0.180% → 0.000%: −$17.97
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GMX: 6 bp × 2 orders: −$12
Net: −$26.81
Costs to cover: 0.230%
Break-even: 20.3 days

Slippage unknown: Bybit: live order book, 1 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 Bybit live order book, 1 min ago	2.32 bp	7.8 bp −$8	14.9 bp −$149	55.0 bp −$5,501	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
Injective XLM/USDC PERP	−0.5000%	1h	0.2157	−0.342%	$736	$241K	12x	as long as short
gTrade (Gains Network) XLM/USD	L 0.0000% / S +0.0002%	1h	0.2161	−0.176%	$4K	—	150x	as long as short
dYdX XLM-USD	+0.0078%	1h	0.2158	−0.312%	$23K	$3K	10x	as long as short
Aster XLMUSDT	+0.0100%	8h	0.2166	+0.079%	$581K	$752K	75x	as long as short
Binance XLMUSDT	+0.0100%	8h	0.2164	−0.024%	$55.8M	$151.1M	75x	as long as short
Bybit XLMUSDTlong	+0.0100%	8h	0.2164	long leg	$44.1M	$44.3M	75x
OKX XLM-USDT-SWAP	+0.0100%	8h	0.2163	−0.074%	$13.1M	$41.8M	50x	as long as short
Gate XLM_USDT	+0.0100%	8h	0.2162	−0.088%	$4.1M	$6.2M	75x	as long as short
MEXC XLM_USDT	+0.0100%	8h	0.2163	−0.060%	$24.9M	$26.1M	300x	as long as short
KuCoin XLMUSDTM	+0.0100%	8h	0.2162	−0.106%	$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 XLMUSDT	+0.0100%	8h	0.2164	−0.028%	$25.7M	$19.4M	75x	as long as short
BingX XLM-USDC	+0.0100%	8h	0.2163	−0.060%	—	$6.7M	—	as long as short
Variational Omni XLM	+0.0100%	8h	0.2163	−0.055%	$284K	$1.3M	—	as long as short
edgeX XLMUSDC	+0.0100%	4h	0.2161	−0.176%	$12K	$300K	10x	as long as short
GRVT XLM_USDT_Perp	+0.0100%	8h	0.2163	−0.077%	$598K	$604K	10x	as long as short
ApeX Omni XLMUSDT	+0.0100%	1h	0.2160	−0.208%	$173K	$258K	50x	as long as short
Orderly PERP_XLM_USDC_mythos	+0.0100%	4h	0.2162	−0.111%	$3K	$2K	10x	as long as short
SunX XLM-USDT	+0.0100%	8h	0.2161	−0.143%	$2K	$1.7M	20x	as long as short
SoDEX XLM-USD	+0.0100%	1h	0.2162	−0.102%	$2K	$6K	5x	as long as short
HTX XLM-USDT	+0.0100%	8h	0.2158	−0.314%	$199K	$256K	20x	as long as short
Phemex XLMUSDT	+0.0100%	8h	0.2162	−0.092%	$9.0M	$9.1M	50x	as long as short
Lighter XLM	+0.0104%	1h	0.2165	+0.018%	$400K	$836K	5x	as long as short
Extended XLM-USD	+0.0104%	1h	0.2162	−0.133%	$199K	$1.6M	10x	as long as short
Kraken Futures PF_XLMUSD	+0.0183%	1h	0.2163	−0.068%	$2.6M	$2.6M	50x	as long as short
Backpack XLM_USDC_PERP	+0.0205%	1h	0.2162	−0.088%	$89K	$269K	20x	as long as short
BloFin XLM-USDT	+0.0220%	8h	0.2160	−0.226%	$2.3M	$5.5M	75x	as long as short
Phoenix XLM	+0.0223%	1h	0.2162	−0.088%	$5K	$42K	5x	as long as short
Hyperliquid XLM	+0.0293%	1h	0.2166	+0.074%	$12.5M	$6.2M	5x	as long as short
GMX XLM/USD [WBTC.b-USDC]short	L +0.0316% / S −0.0167%	1h	0.2161	−0.180%	$45K	—	100x
Deribit XLM_USDC-PERPETUAL	+0.0444%	1h	0.2163	−0.046%	$537K	$162K	25x	as long as short
Coinbase International XLM-PERP-INTX	+0.0448%	1h	0.2161	−0.157%	$229K	$1.5M	50x	as long as short