Funding arb · Price arb /

XLM

all XLM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0163%/8h= +17.9% APRpaid last 24h +0.020%

Price spread now: Phoenix against KuCoin−0.428%93s7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 5 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

Funding pays, the price is against you. Phoenix is 0.428% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.428% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$43 on $10k: about 8.7 days of funding at the current rate (+$5 a day). The two prices were read 93 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	KuCoin XLMUSDTM	0.2127	0.0100	pay 0.0100% / 8h	1h 25m	$14.1M	$9.4M	75x
Short	Phoenix XLM	0.2117	0.0263	get 0.0033% / 1h	25m 59s	$4K	$50K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.428%Rate

Funding earned: $34.33
Price spread: −0.428% → 0.000%: −$42.79
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$27.46
Costs to cover: 0.190%
Break-even: 12.6 days

Slippage unknown: KuCoin: live order book, 3 min ago; Phoenix: no order-book sample. 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 KuCoin live order book, 3 min ago	2.13 bp	22.1 bp −$22	37.3 bp −$373	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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	0.2124	−0.145%	$4K	—	150x	as long as short
Injective XLM/USDC PERP	+0.0033%	1h	0.2125	−0.075%	$683	$241K	12x	as long as short
Lighter XLM	+0.0096%	1h	0.2129	+0.099%	$361K	$938K	5x	as long as short
Aster XLMUSDT	+0.0100%	8h	0.2125	−0.073%	$563K	$634K	75x	as long as short
Binance XLMUSDT	+0.0100%	8h	0.2127	+0.024%	$54.6M	$162.9M	75x	as long as short
Bybit XLMUSDT	+0.0100%	8h	0.2125	−0.052%	$43.1M	$47.5M	75x	as long as short
OKX XLM-USDT-SWAP	+0.0100%	8h	0.2125	−0.056%	$12.3M	$44.6M	50x	as long as short
Gate XLM_USDT	+0.0100%	8h	0.2126	−0.042%	$4.0M	$7.8M	75x	as long as short
MEXC XLM_USDT	+0.0100%	8h	0.2127	+0.038%	$25.0M	$29.0M	300x	as long as short
KuCoin XLMUSDTMlong	+0.0100%	8h	0.2127	long leg	$14.1M	$9.4M	75x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget XLMUSDT	+0.0100%	8h	0.2126	−0.009%	$25.5M	$23.0M	75x	as long as short
BingX XLM-USDT	+0.0100%	8h	0.2127	0.000%	—	$7.4M	—	as long as short
Variational Omni XLM	+0.0100%	8h	0.2113	−0.633%	$252K	$1.3M	—	as long as short
edgeX XLMUSDC	+0.0100%	4h	0.2114	−0.576%	$12K	$306K	10x	as long as short
GRVT XLM_USDT_Perp	+0.0100%	8h	0.2114	−0.602%	$593K	$593K	10x	as long as short
ApeX Omni XLMUSDT	+0.0100%	1h	0.2114	−0.592%	$169K	$264K	50x	as long as short
Orderly PERP_XLM_USDC_mythos	+0.0100%	4h	0.2124	−0.122%	$3K	$2K	10x	as long as short
SunX XLM-USDT	+0.0100%	8h	0.2124	−0.146%	$2K	$1.6M	20x	as long as short
SoDEX XLM-USD	+0.0100%	1h	0.2126	−0.042%	$579	$6K	5x	as long as short
HTX XLM-USDT	+0.0100%	8h	0.2122	−0.221%	$196K	$249K	20x	as long as short
Phemex XLMUSDT	+0.0100%	8h	0.2127	+0.005%	$8.8M	$9.1M	50x	as long as short
Extended XLM-USD	+0.0104%	1h	0.2127	+0.009%	$189K	$1.6M	10x	as long as short
Hyperliquid XLM	+0.0165%	1h	0.2128	+0.088%	$12.1M	$6.6M	5x	as long as short
Backpack XLM_USDC_PERP	+0.0177%	1h	0.2127	+0.028%	$110K	$339K	20x	as long as short
BloFin XLM-USDT	+0.0220%	8h	0.2119	−0.334%	$2.3M	$5.5M	75x	as long as short
dYdX XLM-USD	+0.0240%	1h	0.2122	−0.234%	$23K	$2K	10x	as long as short
Phoenix XLMshort	+0.0263%	1h	0.2117	−0.428%	$4K	$50K	5x
Kraken Futures PF_XLMUSD	+0.0332%	1h	0.2126	−0.019%	$2.6M	$2.7M	50x	as long as short
Coinbase International XLM-PERP-INTX	+0.0408%	1h	0.2126	−0.028%	$222K	$1.7M	50x	as long as short
GMX XLM/USD [WBTC.b-USDC]	L +0.0517% / S −0.0247%	1h	0.2119	−0.362%	$39K	—	100x	as long as short
Deribit XLM_USDC-PERPETUAL	+0.1163%	1h	0.2127	+0.014%	$527K	$168K	25x	as long as short