Funding you earn now, next payment 03:00 UTC−0.0380%/8h= −41.6% APRnext payment −$0.48 per $10,000 · paid last 24h −0.094%
Price spread now: Backpack against Coinbase International−0.117%7-day average −0.068% · you buy dearer than you sell
Net, funding: paid 7d − costs−$66as in the Funding arb table
Net, price: spread back to 7d avg − costs−$51as in the Price arb table
costs, in and out, $10k−$470.466% of the position
Funding, last 7 days−0.198%−$20 on $10k
+Price spread, last 4 days (all we have)+0.161%+$16 · spread now −0.117%, 7d avg −0.068%
=Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Backpack is 0.049% cheaper against Coinbase International than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.068%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.198% in total (about -10.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.48 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International XLM-PERP-INTX | 0.2137 | 0.0480 | pay 0.0060% / 1h | 22m 02s | $237K | $1.5M | 50x |
| Short | Backpack XLM_USDC_PERP | 0.2135 | 0.0100 | get 0.0013% / 1h | 22m 02s | $128K | $291K | 20x |
Coinbase International XLM-PERP-INTX
Backpack XLM_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Coinbase International. 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
- −$79.8
- Price spread: −0.117% → −0.068%
- −$4.86
- Slippage, 4 orders
- −$26.58
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$131.24
- Costs to cover
- 0.466%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 2 min ago; Backpack: live order book, 36 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 Coinbase International live order book, 2 min ago | 3.28 bp | 14.3 bp −$14 | 19.7 bp −$197 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 36 min ago | 0.23 bp | 8.4 bp −$8 | doesn't fit | 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 | 0.2135 | −0.091% | $4K | — | 150x | as long as short |
| Injective XLM/USDC PERP | +0.0033% | 1h | 0.2125 | −0.580% | $683 | $241K | 12x | as long as short |
| Lighter XLM | +0.0096% | 1h | 0.2138 | +0.009% | $369K | $967K | 5x | as long as short |
| Aster XLMUSDT | +0.0100% | 8h | 0.2136 | −0.081% | $568K | $625K | 75x | as long as short |
| Binance XLMUSDT | +0.0100% | 8h | 0.2136 | −0.069% | $54.7M | $155.0M | 75x | as long as short |
| Bybit XLMUSDT | +0.0100% | 8h | 0.2135 | −0.112% | $43.1M | $45.6M | 75x | as long as short |
| OKX XLM-USDT-SWAP | +0.0100% | 8h | 0.2136 | −0.066% | $12.5M | $42.5M | 50x | as long as short |
| Gate XLM_USDT | +0.0100% | 8h | 0.2136 | −0.066% | $4.1M | $6.8M | 75x | as long as short |
| MEXC XLM_USDT | +0.0100% | 8h | 0.2135 | −0.126% | $23.7M | $27.0M | 300x | as long as short |
| KuCoin XLMUSDTM | +0.0100% | 8h | 0.2135 | −0.126% | $14.1M | $9.6M | 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 | 0.2134 | −0.159% | $25.8M | $21.3M | 75x | as long as short |
| BingX XLM-USDC | +0.0100% | 8h | 0.2134 | −0.150% | — | $6.7M | — | as long as short |
| Backpack XLM_USDC_PERPshort | +0.0100% | 1h | 0.2135 | −0.117% | $128K | $291K | 20x | |
| Variational Omni XLM | +0.0100% | 8h | 0.2138 | +0.033% | $256K | $1.3M | — | as long as short |
| edgeX XLMUSDC | +0.0100% | 4h | 0.2141 | +0.170% | $12K | $305K | 10x | as long as short |
| GRVT XLM_USDT_Perp | +0.0100% | 8h | 0.2142 | +0.210% | $592K | $600K | 10x | as long as short |
| ApeX Omni XLMUSDT | +0.0100% | 1h | 0.2141 | +0.173% | $172K | $258K | 50x | as long as short |
| Orderly PERP_XLM_USDC_mythos | +0.0100% | 4h | 0.2136 | −0.066% | $3K | $2K | 10x | as long as short |
| SunX XLM-USDT | +0.0100% | 8h | 0.2134 | −0.140% | $2K | $1.6M | 20x | as long as short |
| SoDEX XLM-USD | +0.0100% | 1h | 0.2135 | −0.089% | $582 | $6K | 5x | as long as short |
| HTX XLM-USDT | +0.0100% | 8h | 0.2137 | −0.033% | $197K | $252K | 20x | as long as short |
| Phemex XLMUSDT | +0.0100% | 8h | 0.2135 | −0.089% | $9.0M | $8.9M | 50x | as long as short |
| Extended XLM-USD | +0.0104% | 1h | 0.2136 | −0.086% | $191K | $1.8M | 10x | as long as short |
| Hyperliquid XLM | +0.0154% | 1h | 0.2137 | −0.037% | $12.3M | $6.2M | 5x | as long as short |
| dYdX XLM-USD | +0.0211% | 1h | 0.2135 | −0.092% | $23K | $2K | 10x | as long as short |
| BloFin XLM-USDT | +0.0220% | 8h | 0.2137 | −0.019% | $2.3M | $5.1M | 75x | as long as short |
| Phoenix XLM | +0.0225% | 1h | 0.2141 | +0.159% | $5K | $46K | 5x | as long as short |
| Kraken Futures PF_XLMUSD | +0.0264% | 1h | 0.2136 | −0.057% | $2.6M | $2.6M | 50x | as long as short |
| Coinbase International XLM-PERP-INTXlong | +0.0480% | 1h | 0.2137 | long leg | $237K | $1.5M | 50x | |
| GMX XLM/USD [WBTC.b-USDC] | L +0.0519% / S −0.0247% | 1h | 0.2135 | −0.119% | $40K | — | 100x | as long as short |
| Deribit XLM_USDC-PERPETUAL | +0.0921% | 1h | 0.2138 | +0.014% | $530K | $153K | 25x | as long as short |
Bitget XLMUSDT
BingX XLM-USDC
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
Phemex XLMUSDT
Extended XLM-USD
Hyperliquid XLM
dYdX XLM-USD
BloFin XLM-USDT
Phoenix XLM
Kraken Futures PF_XLMUSD
GMX XLM/USD [WBTC.b-USDC]
Deribit XLM_USDC-PERPETUAL