Funding arb · Price arb /

XLM

all XLM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0416%/8h= −45.5% APRpaid last 24h −0.054%

Price spread now: Phemex against GMX+0.038%7-day average — · you sell dearer than you buy

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

Long on GMX 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

The price spread pays, funding is against you. Phemex is 0.038% dearer against GMX than usual: you sell high and buy low (spread +0.038% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 7 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX XLM/USD [WBTC.b-USDC]	0.2115	L +0.0516% / S −0.0193%	pay 0.0064% / 1h	38m 51s	$44K	—	100x
Short	Phemex XLMUSDT	0.2116	0.0100	get 0.0100% / 8h	6h 38m	$8.9M	$9.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against GMX. 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 GMXbpFee PhemexbpOrdersPrice spread, now +0.038%Rate

Funding earned: −$87.26
Price spread: +0.038% → 0.000%: $3.83
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$107.43
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: 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 GMX no order-book sample	—	—	—	—	—
Sell Phemex live order book, 5 min ago	1.41 bp	10.4 bp −$10	17.4 bp −$174	doesn't fit	doesn't fit

GMX: 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
dYdX XLM-USD	0.0000%	1h	0.2113	−0.095%	$23K	$2K	10x	as long as short
gTrade (Gains Network) XLM/USD	L 0.0000% / S +0.0002%	1h	0.2116	+0.016%	$4K	—	150x	as long as short
Injective XLM/USDC PERP	+0.0033%	1h	0.2125	+0.464%	$683	$241K	12x	as long as short
Lighter XLM	+0.0096%	1h	0.2115	0.000%	$360K	$892K	5x	as long as short
Binance XLMUSDT	+0.0100%	8h	0.2115	−0.004%	$53.7M	$155.0M	75x	as long as short
Bybit XLMUSDT	+0.0100%	8h	0.2114	−0.052%	$42.5M	$46.3M	75x	as long as short
OKX XLM-USDT-SWAP	+0.0100%	8h	0.2114	−0.037%	$12.6M	$41.6M	50x	as long as short
Gate XLM_USDT	+0.0100%	8h	0.2116	+0.048%	$4.0M	$6.6M	75x	as long as short
MEXC XLM_USDT	+0.0100%	8h	0.2117	+0.062%	$23.8M	$26.7M	300x	as long as short
KuCoin XLMUSDTM	+0.0100%	8h	0.2117	+0.086%	$14.0M	$10.0M	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	0.2114	−0.042%	$25.1M	$20.6M	75x	as long as short
BingX XLM-USDT	+0.0100%	8h	0.2114	−0.037%	—	$7.2M	—	as long as short
Backpack XLM_USDC_PERP	+0.0100%	1h	0.2117	+0.071%	$88K	$263K	20x	as long as short
Variational Omni XLM	+0.0100%	8h	0.2115	−0.001%	$253K	$1.3M	—	as long as short
edgeX XLMUSDC	+0.0100%	4h	0.2125	+0.487%	$12K	$301K	10x	as long as short
GRVT XLM_USDT_Perp	+0.0100%	8h	0.2115	−0.018%	$592K	$612K	10x	as long as short
ApeX Omni XLMUSDT	+0.0100%	1h	0.2124	+0.412%	$170K	$258K	50x	as long as short
Orderly PERP_XLM_USDC_mythos	+0.0100%	4h	0.2116	+0.038%	$3K	$2K	10x	as long as short
SunX XLM-USDT	+0.0100%	8h	0.2107	−0.397%	$2K	$1.7M	20x	as long as short
SoDEX XLM-USD	+0.0100%	1h	0.2117	+0.062%	$2K	$6K	5x	as long as short
HTX XLM-USDT	+0.0100%	8h	0.2116	+0.038%	$195K	$269K	20x	as long as short
Phemex XLMUSDTshort	+0.0100%	8h	0.2116	+0.038%	$8.9M	$9.0M	50x
Extended XLM-USD	+0.0104%	1h	0.2116	+0.033%	$190K	$1.8M	10x	as long as short
Aster XLMUSDT	+0.0117%	8h	0.2116	+0.030%	$566K	$631K	75x	as long as short
Hyperliquid XLM	+0.0134%	1h	0.2116	+0.043%	$12.2M	$6.4M	5x	as long as short
Phoenix XLM	+0.0187%	1h	0.2116	+0.038%	$5K	$46K	5x	as long as short
BloFin XLM-USDT	+0.0220%	8h	0.2134	+0.899%	$2.3M	$5.2M	75x	as long as short
Kraken Futures PF_XLMUSD	+0.0382%	1h	0.2117	+0.070%	$2.6M	$2.6M	50x	as long as short
Coinbase International XLM-PERP-INTX	+0.0440%	1h	0.2116	+0.019%	$232K	$1.5M	50x	as long as short
GMX XLM/USD [WBTC.b-USDC]long	L +0.0516% / S −0.0193%	1h	0.2115	long leg	$44K	—	100x
Deribit XLM_USDC-PERPETUAL	+0.0601%	1h	0.2117	+0.076%	$525K	$150K	25x	as long as short