Funding you earn now, next payment 10:00 UTC+0.0224%/8h= +24.5% APRnext payment +$0.28 per $10,000 · paid last 24h +0.078%
Price spread now: Deribit against Coinbase International+0.009%7-day average −0.016% · you sell dearer than you buy
Net, funding: paid 7d − costs−$47as in the Funding arb table
Net, price: spread back to 7d avg − costs−$44as in the Price arb table
costs, in and out, $10k−$460.462% of the position
Funding, last 7 days−0.010%−$1 on $10k
+Price spread, last 4 days (all we have)+0.056%+$6 · spread now +0.009%, 7d avg −0.016%
=Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Deribit is 0.025% dearer against Coinbase International than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.016%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.010% in total (about -0.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.28 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International XLM-PERP-INTX | 0.2121 | 0.0328 | pay 0.0041% / 1h | 49m 09s | $211K | $1.3M | 50x |
| Short | Deribit XLM_USDC-PERPETUAL | 0.2121 | 0.0552 | get 0.0069% / 1h | 49m 09s | $526K | $103K | 25x |
Coinbase International XLM-PERP-INTX
Deribit XLM_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- $47.04
- Price spread: +0.009% → −0.016%
- $2.54
- Slippage, 4 orders
- −$29.19
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $3.38
- Costs to cover
- 0.462%
- Break-even
- 6.5 days
Slippage from Coinbase International: live order book, 2 min ago; Deribit: live order book, 62 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 | 5.66 bp | 14.5 bp −$14 | 20.5 bp −$205 | doesn't fit | doesn't fit |
| Sell Deribit live order book, 62 min ago | 4.49 bp | 8.0 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
XLM on 31 exchanges
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 | 0.2120 | −0.030% | $4K | — | 150x | as long as short |
| Injective XLM/USDC PERP | +0.0033% | 1h | 0.2125 | +0.193% | $683 | $241K | 12x | as long as short |
| Lighter XLM | +0.0096% | 1h | 0.2121 | +0.019% | $371K | $803K | 5x | as long as short |
| Aster XLMUSDT | +0.0100% | 8h | 0.2120 | −0.024% | $562K | $456K | 75x | as long as short |
| Binance XLMUSDT | +0.0100% | 8h | 0.2120 | −0.061% | $54.8M | $145.3M | 75x | as long as short |
| Bybit XLMUSDT | +0.0100% | 8h | 0.2119 | −0.090% | $44.1M | $41.5M | 75x | as long as short |
| OKX XLM-USDT-SWAP | +0.0100% | 8h | 0.2119 | −0.066% | $12.3M | $42.6M | 50x | as long as short |
| Gate XLM_USDT | +0.0100% | 8h | 0.2119 | −0.080% | $4.0M | $6.6M | 75x | as long as short |
| MEXC XLM_USDT | +0.0100% | 8h | 0.2120 | −0.038% | $24.6M | $27.2M | 300x | as long as short |
| KuCoin XLMUSDTM | +0.0100% | 8h | 0.2119 | −0.066% | $13.8M | $8.7M | 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 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget XLMUSDT | +0.0100% | 8h | 0.2119 | −0.099% | $26.1M | $21.3M | 75x | as long as short |
| BingX XLM-USDC | +0.0100% | 8h | 0.2119 | −0.075% | — | $6.7M | — | as long as short |
| Backpack XLM_USDC_PERP | +0.0100% | 1h | 0.2120 | −0.047% | $120K | $302K | 20x | as long as short |
| Variational Omni XLM | +0.0100% | 8h | 0.2118 | −0.139% | $253K | $1.2M | — | as long as short |
| edgeX XLMUSDC | +0.0100% | 4h | 0.2119 | −0.075% | $12K | $310K | 10x | as long as short |
| GRVT XLM_USDT_Perp | +0.0100% | 8h | 0.2120 | −0.025% | $592K | $530K | 10x | as long as short |
| ApeX Omni XLMUSDT | +0.0100% | 1h | 0.2119 | −0.080% | $170K | $252K | 50x | as long as short |
| Orderly PERP_XLM_USDC_mythos | +0.0100% | 4h | 0.2119 | −0.090% | $3K | $247 | 10x | as long as short |
| SunX XLM-USDT | +0.0100% | 8h | 0.2120 | −0.047% | $1K | $1.4M | 20x | as long as short |
| SoDEX XLM-USD | +0.0100% | 1h | 0.2120 | −0.057% | $577 | $6K | 5x | as long as short |
| HTX XLM-USDT | +0.0100% | 8h | 0.2120 | −0.052% | $191K | $244K | 20x | as long as short |
| Phemex XLMUSDT | +0.0100% | 8h | 0.2120 | −0.042% | $8.6M | $8.5M | 50x | as long as short |
| Extended XLM-USD | +0.0104% | 1h | 0.2119 | −0.085% | $190K | $609K | 10x | as long as short |
| Phoenix XLM | +0.0150% | 1h | 0.2120 | −0.019% | $4K | $46K | 5x | as long as short |
| BloFin XLM-USDT | +0.0220% | 8h | 0.2120 | −0.028% | $2.3M | $5.2M | 75x | as long as short |
| Kraken Futures PF_XLMUSD | +0.0256% | 1h | 0.2119 | −0.067% | $2.6M | $2.5M | 50x | as long as short |
| Coinbase International XLM-PERP-INTXlong | +0.0328% | 1h | 0.2121 | long leg | $211K | $1.3M | 50x | |
| Hyperliquid XLM | +0.0417% | 1h | 0.2122 | +0.057% | $12.5M | $5.6M | 5x | as long as short |
| dYdX XLM-USD | +0.0488% | 1h | 0.2119 | −0.072% | $27K | $5K | 10x | as long as short |
| GMX XLM/USD [WBTC.b-USDC] | L +0.0512% / S −0.0245% | 1h | 0.2119 | −0.082% | $39K | — | 100x | as long as short |
| Deribit XLM_USDC-PERPETUALshort | +0.0552% | 1h | 0.2121 | +0.009% | $526K | $103K | 25x |
Bitget XLMUSDT
BingX XLM-USDC
Backpack XLM_USDC_PERP
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
Phoenix XLM
BloFin XLM-USDT
Kraken Futures PF_XLMUSD
Hyperliquid XLM
dYdX XLM-USD
GMX XLM/USD [WBTC.b-USDC]