Funding arb · Price arb /

XLM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0126%/8h= −13.8% APRpaid last 24h −0.018%

Price spread now: KuCoin against Phoenix+0.091%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 KuCoin

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. KuCoin is 0.091% dearer against Phoenix than usual: you sell high and buy low (spread +0.091% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix XLM	0.2097	0.0226	pay 0.0028% / 1h	23m 31s	$4K	$49K	5x
Short	KuCoin XLMUSDTM	0.2099	0.0100	get 0.0100% / 8h	2h 23m	$13.7M	$9.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.091%Rate

Funding earned: −$26.46
Price spread: +0.091% → 0.000%: $9.06
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$36.4
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; KuCoin: live order book, 5 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 KuCoin live order book, 5 min ago	2.14 bp	18.4 bp −$18	41.9 bp −$419	doesn't fit	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	0.2098	+0.050%	$4K	—	150x	as long as short
Injective XLM/USDC PERP	+0.0033%	1h	0.2125	+1.345%	$683	$241K	12x	as long as short
Lighter XLM	+0.0096%	1h	0.2104	+0.343%	$353K	$992K	5x	as long as short
Aster XLMUSDT	+0.0100%	8h	0.2100	+0.142%	$556K	$630K	75x	as long as short
Binance XLMUSDT	+0.0100%	8h	0.2101	+0.204%	$53.7M	$161.4M	75x	as long as short
Bybit XLMUSDT	+0.0100%	8h	0.2097	+0.033%	$42.3M	$47.3M	75x	as long as short
OKX XLM-USDT-SWAP	+0.0100%	8h	0.2099	+0.091%	$12.2M	$43.8M	50x	as long as short
Gate XLM_USDT	+0.0100%	8h	0.2100	+0.176%	$3.9M	$7.6M	75x	as long as short
MEXC XLM_USDT	+0.0100%	8h	0.2099	+0.105%	$24.0M	$28.3M	300x	as long as short
KuCoin XLMUSDTMshort	+0.0100%	8h	0.2099	+0.091%	$13.7M	$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	0.2098	+0.038%	$25.2M	$22.8M	75x	as long as short
BingX XLM-USDC	+0.0100%	8h	0.2100	+0.157%	—	$6.7M	—	as long as short
Backpack XLM_USDC_PERP	+0.0100%	1h	0.2103	+0.277%	$130K	$314K	20x	as long as short
Variational Omni XLM	+0.0100%	8h	0.2097	+0.017%	$250K	$1.3M	—	as long as short
edgeX XLMUSDC	+0.0100%	4h	0.2096	−0.039%	$12K	$306K	10x	as long as short
GRVT XLM_USDT_Perp	+0.0100%	8h	0.2101	+0.219%	$582K	$615K	10x	as long as short
ApeX Omni XLMUSDT	+0.0100%	1h	0.2094	−0.124%	$168K	$264K	50x	as long as short
Orderly PERP_XLM_USDC_mythos	+0.0100%	4h	0.2103	+0.296%	$3K	$2K	10x	as long as short
SunX XLM-USDT	+0.0100%	8h	0.2100	+0.167%	$2K	$1.7M	20x	as long as short
SoDEX XLM-USD	+0.0100%	1h	0.2104	+0.348%	$573	$6K	5x	as long as short
HTX XLM-USDT	+0.0100%	8h	0.2103	+0.286%	$194K	$251K	20x	as long as short
Phemex XLMUSDT	+0.0100%	8h	0.2103	+0.281%	$8.7M	$9.0M	50x	as long as short
Extended XLM-USD	+0.0104%	1h	0.2100	+0.137%	$188K	$1.8M	10x	as long as short
Kraken Futures PF_XLMUSD	+0.0144%	1h	0.2103	+0.316%	$2.5M	$2.7M	50x	as long as short
Hyperliquid XLM	+0.0153%	1h	0.2100	+0.138%	$11.9M	$6.5M	5x	as long as short
dYdX XLM-USD	+0.0196%	1h	0.2101	+0.224%	$23K	$2K	10x	as long as short
BloFin XLM-USDT	+0.0220%	8h	0.2102	+0.234%	$2.3M	$5.5M	75x	as long as short
Phoenix XLMlong	+0.0226%	1h	0.2097	long leg	$4K	$49K	5x
Coinbase International XLM-PERP-INTX	+0.0456%	1h	0.2094	−0.124%	$223K	$1.6M	50x	as long as short
GMX XLM/USD [WBTC.b-USDC]	L +0.0515% / S −0.0228%	1h	0.2102	+0.226%	$40K	—	100x	as long as short
Deribit XLM_USDC-PERPETUAL	+0.1130%	1h	0.2105	+0.396%	$522K	$163K	25x	as long as short