Funding you earn now, next payment 01:00 UTC−0.0083%/8h= −9.0% APRnext payment −$0.10 per $10,000 · paid last 24h −0.041%
Price spread now: Backpack against Kraken Futures−0.038%7-day average −0.015% · you buy dearer than you sell
Net, funding: paid 7d − costs−$30as in the Funding arb table
Net, price: spread back to 7d avg − costs−$50as in the Price arb table
costs, in and out, $10k−$470.474% of the position
Funding, last 7 days+0.171%+$17 on $10k
+Price spread, last 3 days (all we have)+0.033%+$3 · spread now −0.038%, 7d avg −0.015%
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Backpack is 0.022% cheaper against Kraken Futures than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.015%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.171%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_XLMUSD | 0.2165 | 0.0183 | pay 0.0023% / 1h | 27m 03s | $2.6M | $2.6M | 50x |
| Short | Backpack XLM_USDC_PERP | 0.2164 | 0.0100 | get 0.0013% / 1h | 27m 03s | $88K | $269K | 20x |
Kraken Futures PF_XLMUSD
Backpack XLM_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Kraken Futures. 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
- −$17.34
- Price spread: −0.038% → −0.015%
- −$2.21
- Slippage, 4 orders
- −$27.4
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$66.95
- Costs to cover
- 0.474%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 2 min ago; Backpack: live order book, 46 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 Kraken Futures live order book, 2 min ago | 6.93 bp | 13.3 bp −$13 | 18.7 bp −$187 | 71.6 bp −$7,157 | doesn't fit |
| Sell Backpack live order book, 46 min ago | 0.23 bp | 10.5 bp −$11 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective XLM/USDC PERP | −0.5000% | 1h | 0.2157 | −0.356% | $736 | $241K | 12x | as long as short |
| gTrade (Gains Network) XLM/USD | L 0.0000% / S +0.0002% | 1h | 0.2164 | −0.016% | $4K | — | 150x | as long as short |
| dYdX XLM-USD | +0.0041% | 1h | 0.2163 | −0.098% | $23K | $2K | 10x | as long as short |
| Lighter XLM | +0.0096% | 1h | 0.2167 | +0.124% | $399K | $838K | 5x | as long as short |
| Binance XLMUSDT | +0.0100% | 8h | 0.2163 | −0.056% | $55.9M | $151.0M | 75x | as long as short |
| Bybit XLMUSDT | +0.0100% | 8h | 0.2164 | −0.038% | $44.1M | $44.0M | 75x | as long as short |
| OKX XLM-USDT-SWAP | +0.0100% | 8h | 0.2163 | −0.070% | $13.2M | $41.5M | 50x | as long as short |
| Gate XLM_USDT | +0.0100% | 8h | 0.2164 | −0.019% | $4.1M | $6.3M | 75x | as long as short |
| MEXC XLM_USDT | +0.0100% | 8h | 0.2165 | +0.009% | $25.1M | $26.4M | 300x | as long as short |
| KuCoin XLMUSDTM | +0.0100% | 8h | 0.2165 | −0.005% | $14.4M | $10.2M | 75x | as long as short |
Injective XLM/USDC PERP
gTrade (Gains Network) XLM/USD
dYdX XLM-USD
Lighter XLM
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 | 0.2164 | −0.033% | $25.8M | $19.6M | 75x | as long as short |
| BingX XLM-USDC | +0.0100% | 8h | 0.2164 | −0.033% | — | $6.7M | — | as long as short |
| Backpack XLM_USDC_PERPshort | +0.0100% | 1h | 0.2164 | −0.038% | $88K | $269K | 20x | |
| Variational Omni XLM | +0.0100% | 8h | 0.2163 | −0.072% | $285K | $1.3M | — | as long as short |
| edgeX XLMUSDC | +0.0100% | 4h | 0.2164 | −0.030% | $12K | $300K | 10x | as long as short |
| GRVT XLM_USDT_Perp | +0.0100% | 8h | 0.2165 | 0.000% | $610K | $600K | 10x | as long as short |
| ApeX Omni XLMUSDT | +0.0100% | 1h | 0.2164 | −0.033% | $173K | $258K | 50x | as long as short |
| Orderly PERP_XLM_USDC_mythos | +0.0100% | 4h | 0.2165 | +0.013% | $3K | $2K | 10x | as long as short |
| SunX XLM-USDT | +0.0100% | 8h | 0.2162 | −0.125% | $2K | $1.7M | 20x | as long as short |
| SoDEX XLM-USD | +0.0100% | 1h | 0.2165 | +0.013% | $2K | $6K | 5x | as long as short |
| HTX XLM-USDT | +0.0100% | 8h | 0.2165 | +0.004% | $200K | $256K | 20x | as long as short |
| Phemex XLMUSDT | +0.0100% | 8h | 0.2165 | +0.004% | $9.0M | $9.0M | 50x | as long as short |
| Extended XLM-USD | +0.0104% | 1h | 0.2164 | −0.013% | $194K | $1.7M | 10x | as long as short |
| Aster XLMUSDT | +0.0142% | 8h | 0.2166 | +0.078% | $581K | $660K | 75x | as long as short |
| Kraken Futures PF_XLMUSDlong | +0.0183% | 1h | 0.2165 | long leg | $2.6M | $2.6M | 50x | |
| BloFin XLM-USDT | +0.0220% | 8h | 0.2167 | +0.083% | $2.3M | $5.4M | 75x | as long as short |
| Phoenix XLM | +0.0223% | 1h | 0.2165 | +0.027% | $5K | $42K | 5x | as long as short |
| Coinbase International XLM-PERP-INTX | +0.0448% | 1h | 0.2165 | +0.009% | $229K | $1.5M | 50x | as long as short |
| Deribit XLM_USDC-PERPETUAL | +0.0489% | 1h | 0.2166 | +0.050% | $537K | $150K | 25x | as long as short |
| Hyperliquid XLM | +0.0536% | 1h | 0.2166 | +0.064% | $12.5M | $6.3M | 5x | as long as short |
| GMX XLM/USD [WBTC.b-USDC] | L +0.0595% / S −0.1102% | 1h | 0.2164 | −0.032% | $174K | — | 100x | as long as short |
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
Aster XLMUSDT
BloFin XLM-USDT
Phoenix XLM
Coinbase International XLM-PERP-INTX
Deribit XLM_USDC-PERPETUAL
Hyperliquid XLM
GMX XLM/USD [WBTC.b-USDC]