Funding arb · Price arb /

XLM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0126%/8h= +13.8% APRpaid last 24h +0.024%

Price spread now: Phoenix against MEXC−0.089%7-day average — · you buy dearer than you sell

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

Long on MEXC 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 0.089% cheaper against MEXC than usual: you would sell low and buy high (spread −0.089% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 2.4 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XLM_USDT	0.2127	0.0100	pay 0.0100% / 8h	7h 19m	$24.1M	$29.3M	300x
Short	Phoenix XLM	0.2125	0.0226	get 0.0028% / 1h	19m 02s	$4K	$56K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against MEXC. 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 MEXCbpFee PhoenixbpOrdersPrice spread, now −0.089%Rate

Funding earned: $26.52
Price spread: −0.089% → 0.000%: −$8.93
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $10.59
Costs to cover: 0.070%
Break-even: 4.2 days

Slippage unknown: MEXC: live order book, 5 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 MEXC live order book, 5 min ago	0.24 bp	1.8 bp −$2	3.2 bp −$32	21.2 bp −$2,119	88.3 bp −$44.2K
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	0.2126	−0.040%	$4K	—	150x	as long as short
Injective XLM/USDC PERP	+0.0033%	1h	0.2125	−0.108%	$683	$241K	12x	as long as short
Lighter XLM	+0.0096%	1h	0.2130	+0.103%	$367K	$929K	5x	as long as short
Aster XLMUSDT	+0.0100%	8h	0.2127	−0.024%	$564K	$583K	75x	as long as short
Binance XLMUSDT	+0.0100%	8h	0.2128	+0.026%	$55.2M	$159.2M	75x	as long as short
Bybit XLMUSDT	+0.0100%	8h	0.2126	−0.042%	$44.0M	$46.0M	75x	as long as short
OKX XLM-USDT-SWAP	+0.0100%	8h	0.2127	+0.005%	$12.2M	$45.6M	50x	as long as short
Gate XLM_USDT	+0.0100%	8h	0.2127	−0.024%	$4.0M	$7.4M	75x	as long as short
MEXC XLM_USDTlong	+0.0100%	8h	0.2127	long leg	$24.1M	$29.3M	300x
KuCoin XLMUSDTM	+0.0100%	8h	0.2127	−0.019%	$14.0M	$9.0M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget XLMUSDT	+0.0100%	8h	0.2127	0.000%	$25.7M	$23.0M	75x	as long as short
BingX XLM-USDT	+0.0100%	8h	0.2127	−0.024%	—	$7.3M	—	as long as short
Backpack XLM_USDC_PERP	+0.0100%	1h	0.2127	0.000%	$130K	$342K	20x	as long as short
Variational Omni XLM	+0.0100%	8h	0.2126	−0.052%	$253K	$1.3M	—	as long as short
edgeX XLMUSDC	+0.0100%	4h	0.2126	−0.069%	$12K	$309K	10x	as long as short
GRVT XLM_USDT_Perp	+0.0100%	8h	0.2126	−0.065%	$591K	$558K	10x	as long as short
ApeX Omni XLMUSDT	+0.0100%	1h	0.2126	−0.047%	$170K	$254K	50x	as long as short
Orderly PERP_XLM_USDC_mythos	+0.0100%	4h	0.2127	−0.014%	$3K	$247	10x	as long as short
SunX XLM-USDT	+0.0100%	8h	0.2125	−0.118%	$2K	$1.6M	20x	as long as short
SoDEX XLM-USD	+0.0100%	1h	0.2127	−0.038%	$579	$6K	5x	as long as short
HTX XLM-USDT	+0.0100%	8h	0.2127	−0.019%	$196K	$202K	20x	as long as short
Phemex XLMUSDT	+0.0100%	8h	0.2127	−0.014%	$8.7M	$8.7M	50x	as long as short
Extended XLM-USD	+0.0104%	1h	0.2126	−0.047%	$189K	$791K	10x	as long as short
BloFin XLM-USDT	+0.0220%	8h	0.2127	−0.005%	$2.3M	$5.4M	75x	as long as short
Phoenix XLMshort	+0.0226%	1h	0.2125	−0.089%	$4K	$56K	5x
Coinbase International XLM-PERP-INTX	+0.0328%	1h	0.2127	−0.009%	$213K	$1.6M	50x	as long as short
Kraken Futures PF_XLMUSD	+0.0339%	1h	0.2127	−0.030%	$2.6M	$2.6M	50x	as long as short
GMX XLM/USD [WBTC.b-USDC]	L +0.0493% / S −0.0229%	1h	0.2125	−0.119%	$38K	—	100x	as long as short
Hyperliquid XLM	+0.0505%	1h	0.2129	+0.094%	$12.2M	$6.3M	5x	as long as short
Deribit XLM_USDC-PERPETUAL	+0.0879%	1h	0.2129	+0.066%	$528K	$134K	25x	as long as short
dYdX XLM-USD	+0.0924%	1h	0.2126	−0.076%	$27K	$5K	10x	as long as short