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= +40.0% APRpaid last 24h +0.043%

Price spread now: Kraken Futures against KuCoin−0.153%7-day average +0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

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

Long on KuCoin Short on Kraken Futures

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)+0.160%+$16 · spread now −0.153%, 7d avg +0.016%

Together, before fees+0.032%+$3 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.168% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.153% now, against its 7-day average of +0.016%). If the spread goes back, that is −$17 on $10k: about 37 hours of funding at the current rate (+$11 a day). Mind the row above: over the last 7 days funding on this pair cost −0.128%, so the current rate has only just turned in your favour.

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	KuCoin XLMUSDTM	0.2118	0.0100	pay 0.0100% / 8h	5h 49m	$14.1M	$9.9M	75x
Short	Kraken Futures PF_XLMUSD	0.2114	0.0465	get 0.0058% / 1h	49m 58s	$2.6M	$2.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against KuCoin. 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 KuCoinbpFee Kraken FuturesbpOrdersPrice spread, now −0.153%Rate

Funding earned: $76.64
Price spread: −0.153% → +0.016%: −$16.82
Slippage, 4 orders: −$35.59
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $2.23
Costs to cover: 0.576%
Break-even: 6.8 days

Slippage from KuCoin: live order book, 4 min ago; Kraken Futures: 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 KuCoin live order book, 4 min ago	1.42 bp	16.1 bp −$16	25.8 bp −$258	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 4 min ago	4.25 bp	11.0 bp −$11	28.5 bp −$285	147.7 bp −$14.8K	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	0.2114	−0.149%	$4K	—	150x	as long as short
Lighter XLM	+0.0096%	1h	0.2117	−0.047%	$356K	$900K	5x	as long as short
Binance XLMUSDT	+0.0100%	8h	0.2117	−0.029%	$54.2M	$153.4M	75x	as long as short
Bybit XLMUSDT	+0.0100%	8h	0.2116	−0.066%	$42.8M	$45.6M	75x	as long as short
OKX XLM-USDT-SWAP	+0.0100%	8h	0.2117	−0.028%	$12.6M	$41.4M	50x	as long as short
Gate XLM_USDT	+0.0100%	8h	0.2115	−0.137%	$4.1M	$6.7M	75x	as long as short
MEXC XLM_USDT	+0.0100%	8h	0.2119	+0.061%	$23.4M	$26.6M	300x	as long as short
KuCoin XLMUSDTMlong	+0.0100%	8h	0.2118	long leg	$14.1M	$9.9M	75x
Bitget XLMUSDT	+0.0100%	8h	0.2117	−0.024%	$25.3M	$20.7M	75x	as long as short
BingX XLM-USDC	+0.0100%	8h	0.2116	−0.090%	—	$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	−0.132%	$87K	$262K	20x	as long as short
Variational Omni XLM	+0.0100%	8h	0.2120	+0.117%	$254K	$1.3M	—	as long as short
edgeX XLMUSDC	+0.0100%	4h	0.2117	−0.022%	$12K	$303K	10x	as long as short
GRVT XLM_USDT_Perp	+0.0100%	8h	0.2122	+0.191%	$587K	$598K	10x	as long as short
ApeX Omni XLMUSDT	+0.0100%	1h	0.2118	+0.038%	$170K	$256K	50x	as long as short
Orderly PERP_XLM_USDC_mythos	+0.0100%	4h	0.2116	−0.076%	$3K	$2K	10x	as long as short
SunX XLM-USDT	+0.0100%	8h	0.2112	−0.250%	$2K	$1.6M	20x	as long as short
SoDEX XLM-USD	+0.0100%	1h	0.2114	−0.146%	$2K	$6K	5x	as long as short
HTX XLM-USDT	+0.0100%	8h	0.2122	+0.194%	$196K	$251K	20x	as long as short
Phemex XLMUSDT	+0.0100%	8h	0.2116	−0.094%	$8.9M	$8.9M	50x	as long as short
Extended XLM-USD	+0.0104%	1h	0.2117	−0.015%	$189K	$1.8M	10x	as long as short
Aster XLMUSDT	+0.0110%	8h	0.2117	−0.050%	$563K	$624K	75x	as long as short
dYdX XLM-USD	+0.0213%	1h	0.2118	−0.001%	$23K	$2K	10x	as long as short
Phoenix XLM	+0.0264%	1h	0.2115	−0.113%	$5K	$46K	5x	as long as short
Deribit XLM_USDC-PERPETUAL	+0.0270%	1h	0.2115	−0.137%	$525K	$153K	25x	as long as short
Hyperliquid XLM	+0.0360%	1h	0.2118	+0.014%	$12.2M	$6.1M	5x	as long as short
Coinbase International XLM-PERP-INTX	+0.0464%	1h	0.2116	−0.071%	$232K	$1.5M	50x	as long as short
Kraken Futures PF_XLMUSDshort	+0.0465%	1h	0.2114	−0.153%	$2.6M	$2.7M	50x
GMX XLM/USD [WBTC.b-USDC]	L +0.0516% / S −0.0193%	1h	0.2114	−0.185%	$44K	—	100x	as long as short
Injective XLM/USDC PERP	+0.1081%	1h	0.2125	+0.349%	$683	$241K	12x	as long as short