Funding you earn now, next payment 07:00 UTC+0.0779%/8h= +85.3% APRpaid last 24h +0.149%
Price spread now: Deribit against Phemex+0.089%7-day average +0.055% · you sell dearer than you buy
Net, funding: paid 7d − costs−$9as in the Funding arb table
Net, price: spread back to 7d avg − costs−$34as in the Price arb table
costs, in and out, $10k−$370.370% of the position
Funding, last 7 days+0.278%+$28 on $10k
+Price spread, last 4 days (all we have)−0.027%−$3 · spread now +0.089%, 7d avg +0.055%
=Both sides work for this trade now. Funding pays +$23 a day on $10k at the current rate, and Deribit is 0.035% dearer against Phemex than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.055%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.278% in total (about 14.5% 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 | Phemex XLMUSDT | 0.2127 | 0.0100 | pay 0.0100% / 8h | 1h 18m | $8.7M | $9.0M | 50x |
| Short | Deribit XLM_USDC-PERPETUAL | 0.2129 | 0.0879 | get 0.0110% / 1h | 18m 33s | $528K | $168K | 25x |
Phemex XLMUSDT
Deribit XLM_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Phemex. 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
- $163.59
- Price spread: +0.089% → +0.055%
- $3.46
- Slippage, 4 orders
- −$18.02
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $130.03
- Costs to cover
- 0.370%
- Break-even
- 1.4 days
Slippage from Phemex: live order book, 5 min ago; Deribit: live order book, 25 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 Phemex live order book, 5 min ago | 4.47 bp | 11.4 bp −$11 | 19.3 bp −$193 | doesn't fit | doesn't fit |
| Sell Deribit live order book, 25 min ago | 2.59 bp | 6.1 bp −$6 | 14.4 bp −$144 | 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 | 0.2126 | −0.056% | $4K | — | 150x | as long as short |
| Injective XLM/USDC PERP | +0.0033% | 1h | 0.2125 | −0.085% | $683 | $241K | 12x | as long as short |
| Lighter XLM | +0.0096% | 1h | 0.2131 | +0.202% | $368K | $946K | 5x | as long as short |
| Aster XLMUSDT | +0.0100% | 8h | 0.2130 | +0.129% | $564K | $634K | 75x | as long as short |
| Binance XLMUSDT | +0.0100% | 8h | 0.2129 | +0.086% | $54.7M | $162.9M | 75x | as long as short |
| Bybit XLMUSDT | +0.0100% | 8h | 0.2127 | +0.033% | $43.1M | $47.5M | 75x | as long as short |
| OKX XLM-USDT-SWAP | +0.0100% | 8h | 0.2128 | +0.047% | $12.3M | $44.6M | 50x | as long as short |
| Gate XLM_USDT | +0.0100% | 8h | 0.2128 | +0.047% | $4.0M | $7.8M | 75x | as long as short |
| MEXC XLM_USDT | +0.0100% | 8h | 0.2129 | +0.094% | $25.0M | $29.2M | 300x | as long as short |
| KuCoin XLMUSDTM | +0.0100% | 8h | 0.2129 | +0.080% | $14.1M | $9.4M | 75x | as long as short |
gTrade (Gains Network) XLM/USD
Injective XLM/USDC PERP
Lighter XLM
Aster XLMUSDT
Binance XLMUSDT
Bybit XLMUSDT
OKX XLM-USDT-SWAP
Gate XLM_USDT
MEXC XLM_USDT
KuCoin XLMUSDTMShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget XLMUSDT | +0.0100% | 8h | 0.2128 | +0.042% | $25.5M | $23.0M | 75x | as long as short |
| BingX XLM-USDC | +0.0100% | 8h | 0.2128 | +0.052% | — | $6.7M | — | as long as short |
| Variational Omni XLM | +0.0100% | 8h | 0.2125 | −0.079% | $253K | $1.3M | — | as long as short |
| edgeX XLMUSDC | +0.0100% | 4h | 0.2125 | −0.104% | $12K | $307K | 10x | as long as short |
| GRVT XLM_USDT_Perp | +0.0100% | 8h | 0.2124 | −0.117% | $596K | $593K | 10x | as long as short |
| ApeX Omni XLMUSDT | +0.0100% | 1h | 0.2127 | −0.014% | $170K | $264K | 50x | as long as short |
| Orderly PERP_XLM_USDC_mythos | +0.0100% | 4h | 0.2127 | +0.009% | $3K | $2K | 10x | as long as short |
| SunX XLM-USDT | +0.0100% | 8h | 0.2128 | +0.047% | $2K | $1.6M | 20x | as long as short |
| SoDEX XLM-USD | +0.0100% | 1h | 0.2127 | +0.033% | $580 | $6K | 5x | as long as short |
| HTX XLM-USDT | +0.0100% | 8h | 0.2129 | +0.099% | $196K | $249K | 20x | as long as short |
| Phemex XLMUSDTlong | +0.0100% | 8h | 0.2127 | long leg | $8.7M | $9.0M | 50x | |
| Extended XLM-USD | +0.0104% | 1h | 0.2128 | +0.040% | $189K | $1.6M | 10x | as long as short |
| Hyperliquid XLM | +0.0208% | 1h | 0.2130 | +0.174% | $12.1M | $6.5M | 5x | as long as short |
| dYdX XLM-USD | +0.0210% | 1h | 0.2127 | +0.011% | $23K | $2K | 10x | as long as short |
| BloFin XLM-USDT | +0.0220% | 8h | 0.2128 | +0.066% | $2.3M | $5.6M | 75x | as long as short |
| Backpack XLM_USDC_PERP | +0.0223% | 1h | 0.2128 | +0.075% | $130K | $349K | 20x | as long as short |
| Phoenix XLM | +0.0263% | 1h | 0.2128 | +0.042% | $4K | $50K | 5x | as long as short |
| Kraken Futures PF_XLMUSD | +0.0331% | 1h | 0.2128 | +0.044% | $2.6M | $2.7M | 50x | as long as short |
| Coinbase International XLM-PERP-INTX | +0.0408% | 1h | 0.2125 | −0.071% | $222K | $1.7M | 50x | as long as short |
| GMX XLM/USD [WBTC.b-USDC] | L +0.0518% / S −0.0247% | 1h | 0.2126 | −0.041% | $39K | — | 100x | as long as short |
| Deribit XLM_USDC-PERPETUALshort | +0.0879% | 1h | 0.2129 | +0.089% | $528K | $168K | 25x |
Bitget XLMUSDT
BingX XLM-USDC
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
Extended XLM-USD
Hyperliquid XLM
dYdX XLM-USD
BloFin XLM-USDT
Backpack XLM_USDC_PERP
Phoenix XLM
Kraken Futures PF_XLMUSD
Coinbase International XLM-PERP-INTX
GMX XLM/USD [WBTC.b-USDC]