Funding arb · Price arb /

XLM

all XLM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: Phemex against gTrade (Gains Network)−0.116%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on Phemex

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. Phemex is 0.116% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.116% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 3.9 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) XLM/USD	0.2123	L 0.0000% / S +0.0002%	pay 0.0000% / 1h	8m 40s	$4K	—	150x
Short	Phemex XLMUSDT	0.2120	0.0100	get 0.0100% / 8h	8m 40s	$8.7M	$8.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee PhemexbpOrdersPrice spread, now −0.116%Rate

Funding earned: $20.92
Price spread: −0.116% → 0.000%: −$11.64
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$12.71
Costs to cover: 0.220%
Break-even: 11.3 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Phemex: live order book, 5 min ago. 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Phemex live order book, 5 min ago	1.88 bp	8.2 bp −$8	17.4 bp −$174	doesn't fit	doesn't fit

gTrade (Gains Network): 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
gTrade (Gains Network) XLM/USDlong	L 0.0000% / S +0.0002%	1h	0.2123	long leg	$4K	—	150x
Injective XLM/USDC PERP	+0.0033%	1h	0.2125	+0.114%	$683	$241K	12x	as long as short
Lighter XLM	+0.0096%	1h	0.2124	+0.044%	$366K	$944K	5x	as long as short
Aster XLMUSDT	+0.0100%	8h	0.2122	−0.005%	$562K	$585K	75x	as long as short
Binance XLMUSDT	+0.0100%	8h	0.2122	−0.017%	$54.4M	$159.7M	75x	as long as short
Bybit XLMUSDT	+0.0100%	8h	0.2121	−0.083%	$43.4M	$46.4M	75x	as long as short
OKX XLM-USDT-SWAP	+0.0100%	8h	0.2122	−0.036%	$12.1M	$44.8M	50x	as long as short
Gate XLM_USDT	+0.0100%	8h	0.2120	−0.107%	$3.9M	$7.7M	75x	as long as short
MEXC XLM_USDT	+0.0100%	8h	0.2122	−0.041%	$24.5M	$29.3M	300x	as long as short
KuCoin XLMUSDTM	+0.0100%	8h	0.2121	−0.074%	$14.0M	$9.2M	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	0.2122	−0.050%	$25.6M	$22.8M	75x	as long as short
BingX XLM-USDC	+0.0100%	8h	0.2120	−0.107%	—	$6.7M	—	as long as short
Variational Omni XLM	+0.0100%	8h	0.2119	−0.157%	$253K	$1.3M	—	as long as short
edgeX XLMUSDC	+0.0100%	4h	0.2122	−0.042%	$12K	$308K	10x	as long as short
GRVT XLM_USDT_Perp	+0.0100%	8h	0.2122	−0.031%	$586K	$562K	10x	as long as short
ApeX Omni XLMUSDT	+0.0100%	1h	0.2122	−0.041%	$170K	$264K	50x	as long as short
Orderly PERP_XLM_USDC_mythos	+0.0100%	4h	0.2124	+0.067%	$3K	$247	10x	as long as short
SunX XLM-USDT	+0.0100%	8h	0.2117	−0.286%	$2K	$1.6M	20x	as long as short
SoDEX XLM-USD	+0.0100%	1h	0.2119	−0.154%	$577	$6K	5x	as long as short
HTX XLM-USDT	+0.0100%	8h	0.2124	+0.091%	$196K	$220K	20x	as long as short
Phemex XLMUSDTshort	+0.0100%	8h	0.2120	−0.116%	$8.7M	$8.9M	50x
Extended XLM-USD	+0.0104%	1h	0.2121	−0.069%	$189K	$1.2M	10x	as long as short
Backpack XLM_USDC_PERP	+0.0127%	1h	0.2121	−0.069%	$130K	$342K	20x	as long as short
BloFin XLM-USDT	+0.0220%	8h	0.2121	−0.083%	$2.3M	$5.5M	75x	as long as short
Phoenix XLM	+0.0264%	1h	0.2123	+0.016%	$4K	$50K	5x	as long as short
dYdX XLM-USD	+0.0274%	1h	0.2120	−0.113%	$23K	$2K	10x	as long as short
Coinbase International XLM-PERP-INTX	+0.0376%	1h	0.2119	−0.187%	$215K	$1.6M	50x	as long as short
GMX XLM/USD [WBTC.b-USDC]	L +0.0518% / S −0.0247%	1h	0.2123	+0.009%	$39K	—	100x	as long as short
Kraken Futures PF_XLMUSD	+0.0550%	1h	0.2119	−0.160%	$2.6M	$2.6M	50x	as long as short
Hyperliquid XLM	+0.0601%	1h	0.2123	+0.020%	$12.2M	$6.4M	5x	as long as short
Deribit XLM_USDC-PERPETUAL	+0.0881%	1h	0.2125	+0.119%	$527K	$172K	25x	as long as short