Funding arb · Price arb /

XLM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0365%/8h= −39.9% APRpaid last 24h −0.043%

Price spread now: KuCoin against Kraken Futures+0.021%7-day average −0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$580.576% of the position

Long on Kraken Futures Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.128%+$13 on $10k

Price spread, last 3 days (all we have)−0.029%−$3 · spread now +0.021%, 7d avg −0.016%

Together, before fees+0.099%+$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.037% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.021% now, against its 7-day average of −0.016%): +$4 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 8 hours. Mind the row above: over the last 7 days funding on this pair paid +0.128%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.128% in total (about 6.7% a year). A funding rate is set anew for every payment. 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	Kraken Futures PF_XLMUSD	0.2116	0.0465	pay 0.0058% / 1h	49m 12s	$2.6M	$2.7M	50x
Short	KuCoin XLMUSDTM	0.2116	0.0100	get 0.0100% / 8h	5h 49m	$14.0M	$9.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 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 Kraken FuturesbpFee KuCoinbpOrdersPrice spread, now +0.021%Rate

Funding earned: −$76.57
Price spread: +0.021% → −0.016%: $3.69
Slippage, 4 orders: −$35.59
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$130.47
Costs to cover: 0.576%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 5 min ago; KuCoin: live order book, 4 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, 5 min ago	4.25 bp	12.7 bp −$13	18.7 bp −$187	113.8 bp −$11.4K	doesn't fit
Sell KuCoin live order book, 4 min ago	1.42 bp	17.8 bp −$18	46.1 bp −$461	doesn't fit	doesn't fit

XLM on 30 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	0.2115	−0.019%	$4K	—	150x	as long as short
Lighter XLM	+0.0096%	1h	0.2117	+0.068%	$356K	$900K	5x	as long as short
Binance XLMUSDT	+0.0100%	8h	0.2116	+0.030%	$54.1M	$153.4M	75x	as long as short
Bybit XLMUSDT	+0.0100%	8h	0.2115	−0.017%	$42.7M	$45.6M	75x	as long as short
OKX XLM-USDT-SWAP	+0.0100%	8h	0.2116	−0.002%	$12.6M	$41.4M	50x	as long as short
Gate XLM_USDT	+0.0100%	8h	0.2116	+0.012%	$4.1M	$6.7M	75x	as long as short
MEXC XLM_USDT	+0.0100%	8h	0.2117	+0.045%	$23.4M	$26.6M	300x	as long as short
KuCoin XLMUSDTMshort	+0.0100%	8h	0.2116	+0.021%	$14.0M	$9.9M	75x
Bitget XLMUSDT	+0.0100%	8h	0.2115	−0.026%	$25.3M	$20.7M	75x	as long as short
BingX XLM-USDC	+0.0100%	8h	0.2116	−0.002%	—	$6.7M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Backpack XLM_USDC_PERP	+0.0100%	1h	0.2115	−0.050%	$87K	$262K	20x	as long as short
Variational Omni XLM	+0.0100%	8h	0.2120	+0.200%	$254K	$1.3M	—	as long as short
edgeX XLMUSDC	+0.0100%	4h	0.2117	+0.060%	$12K	$303K	10x	as long as short
GRVT XLM_USDT_Perp	+0.0100%	8h	0.2121	+0.249%	$587K	$598K	10x	as long as short
ApeX Omni XLMUSDT	+0.0100%	1h	0.2118	+0.120%	$170K	$256K	50x	as long as short
Orderly PERP_XLM_USDC_mythos	+0.0100%	4h	0.2116	+0.007%	$3K	$2K	10x	as long as short
SunX XLM-USDT	+0.0100%	8h	0.2113	−0.125%	$2K	$1.6M	20x	as long as short
HTX XLM-USDT	+0.0100%	8h	0.2117	+0.045%	$195K	$251K	20x	as long as short
Phemex XLMUSDT	+0.0100%	8h	0.2116	+0.007%	$8.9M	$8.9M	50x	as long as short
SoDEX XLM-USD	+0.0104%	1h	0.2115	−0.017%	$2K	$6K	5x	as long as short
Extended XLM-USD	+0.0104%	1h	0.2115	−0.049%	$189K	$1.8M	10x	as long as short
Aster XLMUSDT	+0.0110%	8h	0.2118	+0.099%	$563K	$624K	75x	as long as short
dYdX XLM-USD	+0.0211%	1h	0.2117	+0.035%	$23K	$2K	10x	as long as short
Phoenix XLM	+0.0264%	1h	0.2122	+0.314%	$5K	$46K	5x	as long as short
Hyperliquid XLM	+0.0363%	1h	0.2118	+0.111%	$12.2M	$6.2M	5x	as long as short
Coinbase International XLM-PERP-INTX	+0.0464%	1h	0.2119	+0.172%	$233K	$1.5M	50x	as long as short
Kraken Futures PF_XLMUSDlong	+0.0465%	1h	0.2116	long leg	$2.6M	$2.7M	50x
GMX XLM/USD [WBTC.b-USDC]	L +0.0516% / S −0.0193%	1h	0.2115	−0.051%	$44K	—	100x	as long as short
Deribit XLM_USDC-PERPETUAL	+0.0601%	1h	0.2116	+0.007%	$525K	$153K	25x	as long as short
Injective XLM/USDC PERP	+0.1081%	1h	0.2125	+0.432%	$683	$241K	12x	as long as short