Funding arb · Price arb /

XLM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0043%/8h= −4.8% APRpaid last 24h +0.016%

Price spread now: BloFin against Phoenix+0.179%7-day average — · you sell dearer than you buy

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

Long on Phoenix Short on BloFin

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

The price spread pays, funding is against you. BloFin is 0.179% dearer against Phoenix than usual: you sell high and buy low (spread +0.179% now, against zero (this spread has no 7-day history yet)): +$18 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 14 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix XLM	0.2121	0.0263	pay 0.0033% / 1h	22m 25s	$4K	$50K	5x
Short	BloFin XLM-USDT	0.2125	0.0220	get 0.0220% / 8h	1h 22m	$2.3M	$5.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Phoenix. 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 PhoenixbpFee BloFinbpOrdersPrice spread, now +0.179%Rate

Funding earned: −$9.13
Price spread: +0.179% → 0.000%: $17.92
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$10.22
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; BloFin: live order book, 6 min ago. 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 Phoenix no order-book sample	—	—	—	—	—
Sell BloFin live order book, 6 min ago	0.47 bp	15.6 bp −$16	19.2 bp −$192	32.2 bp −$3,219	doesn't fit

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	0.2123	+0.066%	$4K	—	150x	as long as short
Injective XLM/USDC PERP	+0.0033%	1h	0.2125	+0.184%	$683	$241K	12x	as long as short
Lighter XLM	+0.0096%	1h	0.2127	+0.278%	$367K	$946K	5x	as long as short
Aster XLMUSDT	+0.0100%	8h	0.2123	+0.098%	$563K	$634K	75x	as long as short
Binance XLMUSDT	+0.0100%	8h	0.2125	+0.179%	$54.6M	$162.9M	75x	as long as short
Bybit XLMUSDT	+0.0100%	8h	0.2123	+0.099%	$43.0M	$47.5M	75x	as long as short
OKX XLM-USDT-SWAP	+0.0100%	8h	0.2124	+0.127%	$12.2M	$44.5M	50x	as long as short
Gate XLM_USDT	+0.0100%	8h	0.2123	+0.080%	$4.0M	$7.8M	75x	as long as short
MEXC XLM_USDT	+0.0100%	8h	0.2125	+0.170%	$25.1M	$29.1M	300x	as long as short
KuCoin XLMUSDTM	+0.0100%	8h	0.2124	+0.141%	$14.1M	$9.4M	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	0.2124	+0.127%	$25.5M	$23.0M	75x	as long as short
BingX XLM-USDC	+0.0100%	8h	0.2124	+0.118%	—	$6.7M	—	as long as short
Variational Omni XLM	+0.0100%	8h	0.2123	+0.096%	$253K	$1.3M	—	as long as short
edgeX XLMUSDC	+0.0100%	4h	0.2120	−0.068%	$12K	$307K	10x	as long as short
GRVT XLM_USDT_Perp	+0.0100%	8h	0.2121	−0.024%	$595K	$593K	10x	as long as short
ApeX Omni XLMUSDT	+0.0100%	1h	0.2119	−0.075%	$170K	$264K	50x	as long as short
Orderly PERP_XLM_USDC_mythos	+0.0100%	4h	0.2124	+0.137%	$3K	$2K	10x	as long as short
SunX XLM-USDT	+0.0100%	8h	0.2122	+0.038%	$2K	$1.6M	20x	as long as short
SoDEX XLM-USD	+0.0100%	1h	0.2124	+0.146%	$579	$6K	5x	as long as short
HTX XLM-USDT	+0.0100%	8h	0.2125	+0.189%	$196K	$249K	20x	as long as short
Phemex XLMUSDT	+0.0100%	8h	0.2124	+0.113%	$8.7M	$9.1M	50x	as long as short
Extended XLM-USD	+0.0104%	1h	0.2124	+0.132%	$189K	$1.6M	10x	as long as short
Hyperliquid XLM	+0.0175%	1h	0.2126	+0.217%	$12.1M	$6.5M	5x	as long as short
Backpack XLM_USDC_PERP	+0.0199%	1h	0.2123	+0.108%	$130K	$349K	20x	as long as short
BloFin XLM-USDTshort	+0.0220%	8h	0.2125	+0.179%	$2.3M	$5.6M	75x
dYdX XLM-USD	+0.0222%	1h	0.2123	+0.067%	$23K	$2K	10x	as long as short
Phoenix XLMlong	+0.0263%	1h	0.2121	long leg	$4K	$50K	5x
Kraken Futures PF_XLMUSD	+0.0332%	1h	0.2124	+0.132%	$2.6M	$2.7M	50x	as long as short
Coinbase International XLM-PERP-INTX	+0.0408%	1h	0.2125	+0.198%	$222K	$1.7M	50x	as long as short
GMX XLM/USD [WBTC.b-USDC]	L +0.0517% / S −0.0247%	1h	0.2123	+0.089%	$39K	—	100x	as long as short
Deribit XLM_USDC-PERPETUAL	+0.0928%	1h	0.2125	+0.207%	$527K	$168K	25x	as long as short