Funding arb · Price arb /

XLM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bybit against SoDEX−0.150%46s7-day average — · you buy dearer than you sell

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

Long on SoDEX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 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 between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.150% cheaper against SoDEX than usual: you would sell low and buy high, −$15 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX XLM-USD	0.2132	0.0100	pay 0.0013% / 1h	5m 25s	$581	$6K	5x
Short	Bybit XLMUSDT	0.2129	0.0100	get 0.0100% / 8h	2h 05m	$43.1M	$47.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against SoDEX. 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 SoDEXbpFee BybitbpOrdersPrice spread, now −0.150%Rate

Funding earned: $0
Price spread: −0.150% → 0.000%: −$15.01
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$34.01
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; Bybit: live order book, 3 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 SoDEX no order-book sample	—	—	—	—	—
Sell Bybit live order book, 3 min ago	2.35 bp	12.0 bp −$12	17.5 bp −$175	79.8 bp −$7,982	doesn't fit

SoDEX: 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	0.2128	−0.159%	$4K	—	150x	as long as short
Injective XLM/USDC PERP	+0.0033%	1h	0.2125	−0.319%	$683	$241K	12x	as long as short
Lighter XLM	+0.0096%	1h	0.2133	+0.056%	$357K	$997K	5x	as long as short
Aster XLMUSDT	+0.0100%	8h	0.2130	−0.092%	$564K	$634K	75x	as long as short
Binance XLMUSDT	+0.0100%	8h	0.2130	−0.089%	$54.7M	$162.3M	75x	as long as short
Bybit XLMUSDTshort	+0.0100%	8h	0.2129	−0.150%	$43.1M	$47.6M	75x
OKX XLM-USDT-SWAP	+0.0100%	8h	0.2129	−0.136%	$12.3M	$44.6M	50x	as long as short
Gate XLM_USDT	+0.0100%	8h	0.2130	−0.080%	$4.0M	$7.7M	75x	as long as short
MEXC XLM_USDT	+0.0100%	8h	0.2130	−0.103%	$24.7M	$28.6M	300x	as long as short
KuCoin XLMUSDTM	+0.0100%	8h	0.2129	−0.117%	$13.9M	$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	0.2129	−0.150%	$25.6M	$23.0M	75x	as long as short
BingX XLM-USDT	+0.0100%	8h	0.2129	−0.113%	—	$7.4M	—	as long as short
Variational Omni XLM	+0.0100%	8h	0.2130	−0.078%	$254K	$1.3M	—	as long as short
edgeX XLMUSDC	+0.0100%	4h	0.2131	−0.031%	$12K	$307K	10x	as long as short
GRVT XLM_USDT_Perp	+0.0100%	8h	0.2130	−0.099%	$590K	$602K	10x	as long as short
ApeX Omni XLMUSDT	+0.0100%	1h	0.2130	−0.061%	$171K	$264K	50x	as long as short
Orderly PERP_XLM_USDC_mythos	+0.0100%	4h	0.2131	−0.038%	$3K	$2K	10x	as long as short
SunX XLM-USDT	+0.0100%	8h	0.2129	−0.150%	$2K	$1.7M	20x	as long as short
SoDEX XLM-USDlong	+0.0100%	1h	0.2132	long leg	$581	$6K	5x
HTX XLM-USDT	+0.0100%	8h	0.2132	+0.033%	$196K	$252K	20x	as long as short
Phemex XLMUSDT	+0.0100%	8h	0.2132	+0.005%	$8.8M	$9.0M	50x	as long as short
Extended XLM-USD	+0.0104%	1h	0.2130	−0.075%	$190K	$1.8M	10x	as long as short
Kraken Futures PF_XLMUSD	+0.0142%	1h	0.2132	+0.023%	$2.6M	$2.7M	50x	as long as short
Backpack XLM_USDC_PERP	+0.0157%	1h	0.2132	+0.028%	$132K	$315K	20x	as long as short
Hyperliquid XLM	+0.0201%	1h	0.2131	−0.048%	$12.1M	$6.6M	5x	as long as short
BloFin XLM-USDT	+0.0220%	8h	0.2132	−0.014%	$2.3M	$5.6M	75x	as long as short
Phoenix XLM	+0.0226%	1h	0.2130	−0.061%	$4K	$49K	5x	as long as short
dYdX XLM-USD	+0.0237%	1h	0.2130	−0.087%	$23K	$2K	10x	as long as short
Coinbase International XLM-PERP-INTX	+0.0456%	1h	0.2131	−0.052%	$223K	$1.7M	50x	as long as short
GMX XLM/USD [WBTC.b-USDC]	L +0.0518% / S −0.0247%	1h	0.2128	−0.174%	$39K	—	100x	as long as short
Deribit XLM_USDC-PERPETUAL	+0.0970%	1h	0.2133	+0.070%	$529K	$167K	25x	as long as short