Funding you earn now, next payment 23:00 UTC−0.0183%/8h= −20.1% APRnext payment −$0.23 per $10,000 · paid last 24h −0.105%
Price spread now: Backpack against Lighter−0.129%7-day average −0.099% · you buy dearer than you sell
Net, funding: paid 7d − costs−$64as in the Funding arb table
Net, price: spread back to 7d avg − costs−$55as in the Price arb table
costs, in and out, $10k−$520.516% of the position
Funding, last 7 days−0.125%−$13 on $10k
+Price spread, last 4 days (all we have)+0.019%+$2 · spread now −0.129%, 7d avg −0.099%
=Together, before fees−0.107%+ Points / potential airdropLighter: Season 3 · farm board−$11 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Backpack is 0.030% cheaper against Lighter than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.099%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.125% in total (about -6.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.23 per $10,000. 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 | Lighter XLM | 0.2168 | 0.0352 | pay 0.0044% / 1h | 14m 34s | $419K | $813K | 5x |
| Short | Backpack XLM_USDC_PERP | 0.2165 | 0.0169 | get 0.0021% / 1h | 14m 34s | $102K | $261K | 20x |
Lighter XLM
Backpack XLM_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Lighter. 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
- −$38.49
- Price spread: −0.129% → −0.099%
- −$3.05
- Slippage, 4 orders
- −$41.6
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$93.14
- Costs to cover
- 0.516%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 65 min ago; Backpack: 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 Lighter live order book, 65 min ago | 3.94 bp | 27.8 bp −$28 | 65.2 bp −$652 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 4 min ago | 0.92 bp | 8.5 bp −$8 | 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 | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) XLM/USD | L 0.0000% / S +0.0002% | 1h | 0.2163 | −0.212% | $4K | — | 150x | as long as short |
| dYdX XLM-USD | +0.0021% | 1h | 0.2164 | −0.170% | $23K | $3K | 10x | as long as short |
| Aster XLMUSDT | +0.0100% | 8h | 0.2166 | −0.083% | $587K | $805K | 75x | as long as short |
| Binance XLMUSDT | +0.0100% | 8h | 0.2165 | −0.148% | $56.2M | $150.5M | 75x | as long as short |
| Bybit XLMUSDT | +0.0100% | 8h | 0.2164 | −0.185% | $44.0M | $43.9M | 75x | as long as short |
| OKX XLM-USDT-SWAP | +0.0100% | 8h | 0.2163 | −0.208% | $13.1M | $42.4M | 50x | as long as short |
| Gate XLM_USDT | +0.0100% | 8h | 0.2164 | −0.180% | $4.1M | $6.2M | 75x | as long as short |
| MEXC XLM_USDT | +0.0100% | 8h | 0.2165 | −0.125% | $26.3M | $26.5M | 300x | as long as short |
| KuCoin XLMUSDTM | +0.0100% | 8h | 0.2164 | −0.175% | $14.6M | $10.5M | 75x | as long as short |
| Bitget XLMUSDT | +0.0100% | 8h | 0.2164 | −0.166% | $25.8M | $19.1M | 75x | as long as short |
gTrade (Gains Network) XLM/USD
dYdX XLM-USD
Aster XLMUSDT
Binance XLMUSDT
Bybit XLMUSDT
OKX XLM-USDT-SWAP
Gate XLM_USDT
MEXC XLM_USDT
KuCoin XLMUSDTM
Bitget XLMUSDTShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX XLM-USDT | +0.0100% | 8h | 0.2164 | −0.180% | — | $7.0M | — | as long as short |
| Variational Omni XLM | +0.0100% | 8h | 0.2166 | −0.072% | $297K | $1.2M | — | as long as short |
| edgeX XLMUSDC | +0.0100% | 4h | 0.2163 | −0.216% | $12K | $301K | 10x | as long as short |
| GRVT XLM_USDT_Perp | +0.0100% | 8h | 0.2166 | −0.102% | $600K | $617K | 10x | as long as short |
| ApeX Omni XLMUSDT | +0.0100% | 1h | 0.2163 | −0.240% | $173K | $257K | 50x | as long as short |
| Orderly PERP_XLM_USDC_mythos | +0.0100% | 4h | 0.2164 | −0.175% | $3K | $2K | 10x | as long as short |
| SunX XLM-USDT | +0.0100% | 8h | 0.2162 | −0.244% | $2K | $1.7M | 20x | as long as short |
| SoDEX XLM-USD | +0.0100% | 1h | 0.2164 | −0.175% | $2K | $6K | 5x | as long as short |
| HTX XLM-USDT | +0.0100% | 8h | 0.2165 | −0.111% | $200K | $263K | 20x | as long as short |
| Phemex XLMUSDT | +0.0100% | 8h | 0.2165 | −0.143% | $9.1M | $9.1M | 50x | as long as short |
| Extended XLM-USD | +0.0104% | 1h | 0.2164 | −0.162% | $194K | $1.6M | 10x | as long as short |
| Backpack XLM_USDC_PERPshort | +0.0169% | 1h | 0.2165 | −0.129% | $102K | $261K | 20x | |
| BloFin XLM-USDT | +0.0220% | 8h | 0.2165 | −0.120% | $2.3M | $5.7M | 75x | as long as short |
| Phoenix XLM | +0.0221% | 1h | 0.2168 | 0.000% | $5K | $41K | 5x | as long as short |
| GMX XLM/USD [WBTC.b-USDC] | L +0.0316% / S −0.0167% | 1h | 0.2163 | −0.217% | $45K | — | 100x | as long as short |
| Lighter XLMlong | +0.0352% | 1h | 0.2168 | long leg | $419K | $813K | 5x | |
| Hyperliquid XLM | +0.0395% | 1h | 0.2167 | −0.016% | $12.3M | $6.1M | 5x | as long as short |
| Coinbase International XLM-PERP-INTX | +0.0432% | 1h | 0.2167 | −0.055% | $234K | $1.5M | 50x | as long as short |
| Injective XLM/USDC PERP | +0.0475% | 1h | 0.2036 | −6.080% | $5K | $238K | 12x | as long as short |
| Kraken Futures PF_XLMUSD | +0.0505% | 1h | 0.2165 | −0.119% | $2.6M | $2.7M | 50x | as long as short |
| Deribit XLM_USDC-PERPETUAL | +0.0767% | 1h | 0.2165 | −0.148% | $537K | $175K | 25x | as long as short |
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
Phemex XLMUSDT
Extended XLM-USD
BloFin XLM-USDT
Phoenix XLM
GMX XLM/USD [WBTC.b-USDC]
Hyperliquid XLM
Coinbase International XLM-PERP-INTX
Injective XLM/USDC PERP
Kraken Futures PF_XLMUSD
Deribit XLM_USDC-PERPETUAL