Funding arb · Price arb /

XLM

all XLM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h +0.049%

Price spread now: Kraken Futures against Bybit+0.005%7-day average +0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$520.523% of the position

Long on Bybit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.086%−$9 on $10k

Price spread, last 4 days (all we have)−0.015%−$2 · spread now +0.005%, 7d avg +0.045%

Together, before fees−0.101%−$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.039% cheaper against Bybit than usual: you would sell low and buy high (spread +0.005% now, against its 7-day average of +0.045%). If the spread goes back, that is −$4 on $10k: about 3.0 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.086%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XLMUSDT	0.2098	0.0100	pay 0.0100% / 8h	2h 26m	$42.3M	$47.2M	75x
Short	Kraken Futures PF_XLMUSD	0.2098	0.0144	get 0.0018% / 1h	26m 08s	$2.5M	$2.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.005%Rate

Funding earned: $9.26
Price spread: +0.005% → +0.045%: −$3.93
Slippage, 4 orders: −$31.3
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$46.97
Costs to cover: 0.523%
Break-even: 42.5 days

Slippage from Bybit: live order book, 3 min ago; Kraken Futures: 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 Bybit live order book, 3 min ago	2.39 bp	12.7 bp −$13	18.3 bp −$183	58.3 bp −$5,834	doesn't fit
Sell Kraken Futures live order book, 3 min ago	5.01 bp	15.8 bp −$16	27.3 bp −$273	118.1 bp −$11.8K	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	0.2097	−0.041%	$4K	—	150x	as long as short
Injective XLM/USDC PERP	+0.0033%	1h	0.2125	+1.287%	$683	$241K	12x	as long as short
Lighter XLM	+0.0096%	1h	0.2101	+0.129%	$351K	$991K	5x	as long as short
Aster XLMUSDT	+0.0100%	8h	0.2098	−0.016%	$555K	$630K	75x	as long as short
Binance XLMUSDT	+0.0100%	8h	0.2099	+0.057%	$53.6M	$161.4M	75x	as long as short
Bybit XLMUSDTlong	+0.0100%	8h	0.2098	long leg	$42.3M	$47.2M	75x
OKX XLM-USDT-SWAP	+0.0100%	8h	0.2099	+0.029%	$12.2M	$43.8M	50x	as long as short
Gate XLM_USDT	+0.0100%	8h	0.2098	−0.005%	$3.9M	$7.6M	75x	as long as short
MEXC XLM_USDT	+0.0100%	8h	0.2099	+0.052%	$24.1M	$28.3M	300x	as long as short
KuCoin XLMUSDTM	+0.0100%	8h	0.2098	+0.010%	$13.8M	$9.4M	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	0.2098	−0.010%	$25.2M	$22.8M	75x	as long as short
BingX XLM-USDC	+0.0100%	8h	0.2098	0.000%	—	$6.7M	—	as long as short
Backpack XLM_USDC_PERP	+0.0100%	1h	0.2099	+0.033%	$130K	$314K	20x	as long as short
Variational Omni XLM	+0.0100%	8h	0.2097	−0.040%	$250K	$1.3M	—	as long as short
edgeX XLMUSDC	+0.0100%	4h	0.2104	+0.268%	$12K	$305K	10x	as long as short
GRVT XLM_USDT_Perp	+0.0100%	8h	0.2101	+0.141%	$582K	$615K	10x	as long as short
ApeX Omni XLMUSDT	+0.0100%	1h	0.2104	+0.262%	$169K	$264K	50x	as long as short
Orderly PERP_XLM_USDC_mythos	+0.0100%	4h	0.2098	0.000%	$3K	$2K	10x	as long as short
SunX XLM-USDT	+0.0100%	8h	0.2096	−0.114%	$2K	$1.6M	20x	as long as short
SoDEX XLM-USD	+0.0100%	1h	0.2099	+0.033%	$572	$6K	5x	as long as short
HTX XLM-USDT	+0.0100%	8h	0.2099	+0.024%	$193K	$251K	20x	as long as short
Phemex XLMUSDT	+0.0100%	8h	0.2099	+0.052%	$8.7M	$9.0M	50x	as long as short
Extended XLM-USD	+0.0104%	1h	0.2098	−0.021%	$188K	$1.8M	10x	as long as short
Kraken Futures PF_XLMUSDshort	+0.0144%	1h	0.2098	+0.005%	$2.5M	$2.7M	50x
Hyperliquid XLM	+0.0160%	1h	0.2099	+0.059%	$11.9M	$6.5M	5x	as long as short
dYdX XLM-USD	+0.0198%	1h	0.2096	−0.111%	$23K	$2K	10x	as long as short
BloFin XLM-USDT	+0.0220%	8h	0.2095	−0.124%	$2.3M	$5.5M	75x	as long as short
Phoenix XLM	+0.0226%	1h	0.2101	+0.138%	$4K	$49K	5x	as long as short
Coinbase International XLM-PERP-INTX	+0.0456%	1h	0.2094	−0.181%	$223K	$1.6M	50x	as long as short
GMX XLM/USD [WBTC.b-USDC]	L +0.0515% / S −0.0228%	1h	0.2097	−0.052%	$40K	—	100x	as long as short
Deribit XLM_USDC-PERPETUAL	+0.1085%	1h	0.2100	+0.100%	$521K	$163K	25x	as long as short