Funding you earn now, next payment 07:00 UTC−0.0713%/8h= −78.1% APRnext payment −$0.89 per $10,000 · paid last 24h −0.144%
Price spread now: Backpack against Deribit−0.056%7-day average −0.059% · you buy dearer than you sell
Net, funding: paid 7d − costs−$49as in the Funding arb table
Net, price: spread back to 7d avg − costs−$31as in the Price arb table
costs, in and out, $10k−$310.310% of the position
Funding, last 7 days−0.179%−$18 on $10k
+Price spread, last 4 days (all we have)+0.010%+$1 · spread now −0.056%, 7d avg −0.059%
=The price spread sits at its 7-day average of −0.059%, so right now this pair is about funding alone: −$21 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.179% in total (about -9.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.89 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 | Deribit XLM_USDC-PERPETUAL | 0.2127 | 0.0927 | pay 0.0116% / 1h | 5m 34s | $527K | $168K | 25x |
| Short | Backpack XLM_USDC_PERP | 0.2125 | 0.0214 | get 0.0027% / 1h | 5m 34s | $130K | $348K | 20x |
Deribit XLM_USDC-PERPETUAL
Backpack XLM_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Deribit. 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
- −$149.77
- Price spread: −0.056% → −0.059%
- $0.24
- Slippage, 4 orders
- −$14.02
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$180.55
- Costs to cover
- 0.310%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 38 min ago; Backpack: live order book, 38 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 Deribit live order book, 38 min ago | 2.59 bp | 6.1 bp −$6 | doesn't fit | doesn't fit | doesn't fit |
| Sell Backpack live order book, 38 min ago | 1.42 bp | 9.1 bp −$9 | 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 | 0.2124 | −0.103% | $4K | — | 150x | as long as short |
| Injective XLM/USDC PERP | +0.0033% | 1h | 0.2125 | −0.075% | $683 | $241K | 12x | as long as short |
| Lighter XLM | +0.0096% | 1h | 0.2126 | −0.009% | $366K | $947K | 5x | as long as short |
| Aster XLMUSDT | +0.0100% | 8h | 0.2125 | −0.097% | $563K | $615K | 75x | as long as short |
| Binance XLMUSDT | +0.0100% | 8h | 0.2123 | −0.146% | $54.5M | $162.4M | 75x | as long as short |
| Bybit XLMUSDT | +0.0100% | 8h | 0.2122 | −0.202% | $43.0M | $47.4M | 75x | as long as short |
| OKX XLM-USDT-SWAP | +0.0100% | 8h | 0.2123 | −0.179% | $12.2M | $44.3M | 50x | as long as short |
| Gate XLM_USDT | +0.0100% | 8h | 0.2122 | −0.193% | $4.0M | $7.8M | 75x | as long as short |
| MEXC XLM_USDT | +0.0100% | 8h | 0.2124 | −0.127% | $24.8M | $29.3M | 300x | as long as short |
| KuCoin XLMUSDTM | +0.0100% | 8h | 0.2124 | −0.146% | $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 | 0.2123 | −0.174% | $25.5M | $22.8M | 75x | as long as short |
| BingX XLM-USDC | +0.0100% | 8h | 0.2123 | −0.179% | — | $6.7M | — | as long as short |
| Variational Omni XLM | +0.0100% | 8h | 0.2123 | −0.163% | $254K | $1.3M | — | as long as short |
| edgeX XLMUSDC | +0.0100% | 4h | 0.2124 | −0.125% | $12K | $307K | 10x | as long as short |
| GRVT XLM_USDT_Perp | +0.0100% | 8h | 0.2122 | −0.214% | $595K | $591K | 10x | as long as short |
| ApeX Omni XLMUSDT | +0.0100% | 1h | 0.2123 | −0.150% | $170K | $264K | 50x | as long as short |
| Orderly PERP_XLM_USDC_mythos | +0.0100% | 4h | 0.2125 | −0.075% | $3K | $2K | 10x | as long as short |
| SunX XLM-USDT | +0.0100% | 8h | 0.2126 | −0.028% | $2K | $1.6M | 20x | as long as short |
| SoDEX XLM-USD | +0.0100% | 1h | 0.2124 | −0.099% | $579 | $6K | 5x | as long as short |
| HTX XLM-USDT | +0.0100% | 8h | 0.2126 | −0.047% | $196K | $249K | 20x | as long as short |
| Phemex XLMUSDT | +0.0100% | 8h | 0.2125 | −0.071% | $8.7M | $9.1M | 50x | as long as short |
| Extended XLM-USD | +0.0104% | 1h | 0.2123 | −0.184% | $189K | $1.5M | 10x | as long as short |
| Backpack XLM_USDC_PERPshort | +0.0214% | 1h | 0.2125 | −0.056% | $130K | $348K | 20x | |
| BloFin XLM-USDT | +0.0220% | 8h | 0.2126 | −0.033% | $2.3M | $5.5M | 75x | as long as short |
| Phoenix XLM | +0.0263% | 1h | 0.2124 | −0.132% | $4K | $50K | 5x | as long as short |
| dYdX XLM-USD | +0.0301% | 1h | 0.2123 | −0.185% | $23K | $2K | 10x | as long as short |
| Hyperliquid XLM | +0.0308% | 1h | 0.2126 | −0.033% | $12.1M | $6.5M | 5x | as long as short |
| Kraken Futures PF_XLMUSD | +0.0332% | 1h | 0.2125 | −0.064% | $2.6M | $2.7M | 50x | as long as short |
| Coinbase International XLM-PERP-INTX | +0.0408% | 1h | 0.2127 | +0.028% | $222K | $1.7M | 50x | as long as short |
| GMX XLM/USD [WBTC.b-USDC] | L +0.0517% / S −0.0247% | 1h | 0.2125 | −0.079% | $39K | — | 100x | as long as short |
| Deribit XLM_USDC-PERPETUALlong | +0.0927% | 1h | 0.2127 | long leg | $527K | $168K | 25x |
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
BloFin XLM-USDT
Phoenix XLM
dYdX XLM-USD
Hyperliquid XLM
Kraken Futures PF_XLMUSD
Coinbase International XLM-PERP-INTX
GMX XLM/USD [WBTC.b-USDC]