Funding you earn now, next payment 07:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.181%
Price spread now: Phemex against Injective−0.024%65s7-day average +0.155% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.160%+$16 on $10k
+Price spread, last 4 days (all we have)−0.014%−$1 · spread now −0.024%, 7d avg +0.155%
=Funding pays, the price is against you. Phemex is 0.179% cheaper against Injective than usual: you would sell low and buy high (spread −0.024% now, against its 7-day average of +0.155%). If the spread goes back, that is −$18 on $10k: about 8.9 days of funding at the current rate (+$2 a day). The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective XLM/USDC PERP | 0.2125 | 0.0033 | pay 0.0004% / 1h | 22m 21s | $683 | $241K | 12x |
| Short | Phemex XLMUSDT | 0.2124 | 0.0100 | get 0.0100% / 8h | 1h 22m | $8.7M | $9.1M | 50x |
Injective XLM/USDC PERP
Phemex XLMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Injective. 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
- $14
- Price spread: −0.024% → +0.155%
- −$17.87
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$15.89
- Costs to cover
- 0.120%
- Break-even
- 14.9 days
Slippage unknown: Injective: no order-book sample; Phemex: live order book, 2 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 Injective no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 2 min ago | 4.47 bp | 13.4 bp −$13 | 22.4 bp −$224 | doesn't fit | doesn't fit |
Injective: 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/USD | L 0.0000% / S +0.0002% | 1h | 0.2123 | −0.117% | $4K | — | 150x | as long as short |
| Injective XLM/USDC PERPlong | +0.0033% | 1h | 0.2125 | long leg | $683 | $241K | 12x | |
| Lighter XLM | +0.0096% | 1h | 0.2127 | +0.085% | $367K | $946K | 5x | as long as short |
| Aster XLMUSDT | +0.0100% | 8h | 0.2124 | −0.064% | $563K | $634K | 75x | as long as short |
| Binance XLMUSDT | +0.0100% | 8h | 0.2126 | +0.027% | $54.6M | $162.9M | 75x | as long as short |
| Bybit XLMUSDT | +0.0100% | 8h | 0.2124 | −0.047% | $43.0M | $47.5M | 75x | as long as short |
| OKX XLM-USDT-SWAP | +0.0100% | 8h | 0.2125 | 0.000% | $12.2M | $44.6M | 50x | as long as short |
| Gate XLM_USDT | +0.0100% | 8h | 0.2123 | −0.099% | $4.0M | $7.8M | 75x | as long as short |
| MEXC XLM_USDT | +0.0100% | 8h | 0.2125 | −0.014% | $25.1M | $29.1M | 300x | as long as short |
| KuCoin XLMUSDTM | +0.0100% | 8h | 0.2124 | −0.042% | $14.1M | $9.4M | 75x | as long as short |
gTrade (Gains Network) XLM/USD
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 | 0.2124 | −0.056% | $25.5M | $23.0M | 75x | as long as short |
| BingX XLM-USDT | +0.0100% | 8h | 0.2124 | −0.024% | — | $7.4M | — | as long as short |
| Variational Omni XLM | +0.0100% | 8h | 0.2123 | −0.088% | $253K | $1.3M | — | as long as short |
| edgeX XLMUSDC | +0.0100% | 4h | 0.2120 | −0.251% | $12K | $307K | 10x | as long as short |
| GRVT XLM_USDT_Perp | +0.0100% | 8h | 0.2121 | −0.207% | $595K | $593K | 10x | as long as short |
| ApeX Omni XLMUSDT | +0.0100% | 1h | 0.2119 | −0.259% | $170K | $264K | 50x | as long as short |
| Orderly PERP_XLM_USDC_mythos | +0.0100% | 4h | 0.2125 | 0.000% | $3K | $2K | 10x | as long as short |
| SunX XLM-USDT | +0.0100% | 8h | 0.2124 | −0.052% | $2K | $1.6M | 20x | as long as short |
| SoDEX XLM-USD | +0.0100% | 1h | 0.2124 | −0.038% | $579 | $6K | 5x | as long as short |
| HTX XLM-USDT | +0.0100% | 8h | 0.2125 | +0.019% | $196K | $249K | 20x | as long as short |
| Phemex XLMUSDTshort | +0.0100% | 8h | 0.2124 | −0.024% | $8.7M | $9.1M | 50x | |
| Extended XLM-USD | +0.0104% | 1h | 0.2124 | −0.052% | $189K | $1.6M | 10x | as long as short |
| Hyperliquid XLM | +0.0175% | 1h | 0.2126 | +0.033% | $12.1M | $6.5M | 5x | as long as short |
| Backpack XLM_USDC_PERP | +0.0199% | 1h | 0.2123 | −0.075% | $130K | $349K | 20x | as long as short |
| BloFin XLM-USDT | +0.0220% | 8h | 0.2125 | −0.005% | $2.3M | $5.6M | 75x | as long as short |
| dYdX XLM-USD | +0.0222% | 1h | 0.2123 | −0.117% | $23K | $2K | 10x | as long as short |
| Phoenix XLM | +0.0263% | 1h | 0.2121 | −0.184% | $4K | $50K | 5x | as long as short |
| Kraken Futures PF_XLMUSD | +0.0332% | 1h | 0.2124 | −0.044% | $2.6M | $2.7M | 50x | as long as short |
| Coinbase International XLM-PERP-INTX | +0.0408% | 1h | 0.2125 | +0.014% | $222K | $1.7M | 50x | as long as short |
| GMX XLM/USD [WBTC.b-USDC] | L +0.0517% / S −0.0247% | 1h | 0.2123 | −0.095% | $39K | — | 100x | as long as short |
| Deribit XLM_USDC-PERPETUAL | +0.0833% | 1h | 0.2126 | +0.066% | $527K | $168K | 25x | as long as short |
Bitget XLMUSDT
BingX XLM-USDT
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
Extended XLM-USD
Hyperliquid XLM
Backpack XLM_USDC_PERP
BloFin XLM-USDT
dYdX XLM-USD
Phoenix XLM
Kraken Futures PF_XLMUSD
Coinbase International XLM-PERP-INTX
GMX XLM/USD [WBTC.b-USDC]
Deribit XLM_USDC-PERPETUAL