Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0585%/8h= −64.0% APRpaid last 24h +0.006%

Price spread now: Lighter against Aster+0.116%7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$300.305% of the position

Long on Aster Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.138%+$14 on $10k

Price spread, last 7 days−0.076%−$8 · spread now +0.116%, 7d avg +0.018%

Together, before fees+0.062%+ Points / potential airdropAster: Stage 5 · Lighter: Season 3 · farm board+$6 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.098% dearer against Aster than usual: you sell high and buy low (spread +0.116% now, against its 7-day average of +0.018%): +$10 on $10k if it goes back. Holding the pair costs −$18 a day in funding at the current rate, which eats that in about 13 hours. Mind the row above: over the last 5 days funding on this pair paid +0.138%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid 0.138% in total (about 9.1% 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	Aster XMRUSDT	576.80	0.0681	pay 0.0681% / 8h	4h 03m	$639K	$2.3M	75x
Short	Lighter XMR	577.47	0.0096	get 0.0012% / 1h	3m 14s	$3.2M	$7.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Aster. 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 AsterbpFee LighterbpOrdersPrice spread, now +0.116%Rate

Funding earned: −$122.79
Price spread: +0.116% → +0.018%: $9.83
Slippage, 4 orders: −$22.49
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$143.45
Costs to cover: 0.305%
Break-even: never at this rate

Slippage from Aster: live order book, 5 min ago; Lighter: live order book, 5 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 Aster live order book, 5 min ago	1.30 bp	9.8 bp −$10	35.2 bp −$352	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	4.11 bp	4.5 bp −$5	16.3 bp −$163	132.0 bp −$13.2K	doesn't fit

XMR 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
Injective XMR/USDC PERP	−0.0136%	1h	582.55	+0.997%	$3K	$3K	12x	as long as short
gTrade (Gains Network) XMR/USD	L +0.0010% / S −0.0008%	1h	576.62	−0.031%	$50K	—	150x	as long as short
Lighter XMRshort	+0.0096%	1h	577.47	+0.116%	$3.2M	$7.6M	10x
edgeX XMRUSDC	+0.0100%	4h	576.67	−0.023%	$1.0M	$653K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	577.33	+0.092%	$2K	$1.9M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	577.00	+0.035%	$1.1M	$1.6M	20x	as long as short
Kraken Futures PF_XMRUSD	+0.0149%	1h	576.25	−0.095%	$5.4M	$19.5M	50x	as long as short
Aevo XMR-PERP	+0.0208%	1h	577.50	+0.122%	$12K	—	3x	as long as short
dYdX XMR-USD	+0.0309%	1h	575.14	−0.288%	$104K	$44K	5x	as long as short
KuCoin XMRUSDTM	+0.0405%	8h	576.63	−0.029%	$45.1M	$26.5M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate XMR_USDT	+0.0415%	8h	576.61	−0.033%	$1.6M	$4.6M	50x	as long as short
Polymarket Perps XMR-USD	+0.0431%	1h	577.33	+0.092%	$25K	$2.2M	5x	as long as short
Bybit XMRUSDT	+0.0448%	8h	577.93	+0.196%	$47.0M	$64.4M	75x	as long as short
BingX XMR-USDT	+0.0490%	8h	577.94	+0.198%	—	$5.7M	—	as long as short
MEXC XMR_USDT	+0.0506%	8h	577.97	+0.203%	$20.3M	$15.0M	100x	as long as short
Binance XMRUSDT	+0.0509%	8h	577.93	+0.196%	$52.9M	$164.4M	75x	as long as short
Bitget XMRUSDT	+0.0517%	8h	577.94	+0.198%	$9.4M	$13.9M	50x	as long as short
Backpack XMR_USDC_PERP	+0.0572%	1h	576.21	−0.102%	$170K	$534K	20x	as long as short
Pacifica XMR	+0.0626%	1h	577.03	+0.040%	$266K	$1.0M	10x	as long as short
Aster XMRUSDTlong	+0.0681%	8h	576.80	long leg	$639K	$2.3M	75x
Extended XMR-USD	+0.0712%	1h	577.69	+0.154%	$3.1M	$8.4M	25x	as long as short
BloFin XMR-USDT	+0.0815%	8h	577.89	+0.189%	$2.7M	$11.2M	75x	as long as short
Nado XMR-PERP	+0.0832%	1h	577.72	+0.160%	$1.3M	$460K	10x	as long as short
GRVT XMR_USDT_Perp	+0.0886%	8h	576.65	−0.026%	$345K	$733K	10x	as long as short
Paradex XMR-USD-PERP	+0.0899%	8h	577.25	+0.077%	$8K	$4K	20x	as long as short
Hyperliquid XMR	+0.0953%	1h	577.57	+0.133%	$86.9M	$71.1M	5x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0991% / S −0.1254%	1h	576.26	−0.094%	$593K	—	100x	as long as short
Variational Omni XMR	+0.1038%	8h	576.57	−0.039%	$6.6M	$2.2M	—	as long as short
Orderly PERP_XMR_USDC	+0.1125%	8h	577.33	+0.092%	$41K	$735K	10x	as long as short
SoDEX XMR-USD	+0.1280%	1h	577.64	+0.146%	$439K	$3K	5x	as long as short
Aftermath Perps XMRUSD	+0.1933%	1h	576.13	−0.116%	$1K	$44K	10x	as long as short