Funding arb · Price arb /

XMR

all XMR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0344%/8h= −37.7% APRpaid last 24h −0.051%

Price spread now: BloFin against Backpack+0.146%66s7-day average +0.099% · you sell dearer than you buy

Net, funding: paid 7d − costs−$99as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$380.376% of the position

Long on Backpack Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.616%−$62 on $10k

Price spread, last 4 days (all we have)−0.043%−$4 · spread now +0.146%, 7d avg +0.099%

Together, before fees−0.659%−$66 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.047% dearer against Backpack than usual: you sell high and buy low (spread +0.146% now, against its 7-day average of +0.099%): +$5 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 11 hours. The two prices were read 66 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	Backpack XMR_USDC_PERP	569.95	0.1341	pay 0.0168% / 1h	39m 59s	$167K	$533K	20x
Short	BloFin XMR-USDT	570.78	0.0997	get 0.0997% / 8h	2h 39m	$2.7M	$11.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Backpack. 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 BackpackbpFee BloFinbpOrdersPrice spread, now +0.146%Rate

Funding earned: −$72.22
Price spread: +0.146% → +0.099%: $4.69
Slippage, 4 orders: −$15.56
Fee Backpack: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$105.09
Costs to cover: 0.376%
Break-even: never at this rate

Slippage from Backpack: live order book, 9 min ago; BloFin: live order book, 4 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 Backpack live order book, 9 min ago	1.66 bp	6.9 bp −$7	33.1 bp −$331	doesn't fit	doesn't fit
Sell BloFin live order book, 4 min ago	0.35 bp	12.2 bp −$12	20.7 bp −$207	doesn't fit	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
gTrade (Gains Network) XMR/USD	L +0.0010% / S −0.0003%	1h	569.04	−0.159%	$37K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	582.55	+2.211%	$3K	$3K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	571.22	+0.224%	$1.0M	$642K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	569.66	−0.051%	$2K	$1.9M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	570.65	+0.123%	$1.1M	$1.6M	20x	as long as short
Aevo XMR-PERP	+0.0232%	1h	570.71	+0.133%	$12K	—	3x	as long as short
KuCoin XMRUSDTM	+0.0295%	8h	569.81	−0.025%	$44.7M	$26.5M	50x	as long as short
Bitget XMRUSDT	+0.0563%	8h	570.41	+0.081%	$9.4M	$13.3M	50x	as long as short
MEXC XMR_USDT	+0.0606%	8h	570.32	+0.065%	$19.7M	$14.6M	100x	as long as short
Binance XMRUSDT	+0.0606%	8h	570.33	+0.067%	$52.2M	$161.6M	75x	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	+0.0607%	8h	570.10	+0.026%	$1.5M	$4.3M	50x	as long as short
dYdX XMR-USD	+0.0625%	1h	569.32	−0.111%	$103K	$44K	5x	as long as short
BingX XMR-USDT	+0.0673%	8h	570.35	+0.070%	—	$5.7M	—	as long as short
Bybit XMRUSDT	+0.0709%	8h	570.03	+0.014%	$46.2M	$64.3M	75x	as long as short
Aster XMRUSDT	+0.0752%	8h	570.26	+0.055%	$639K	$2.3M	75x	as long as short
Kraken Futures PF_XMRUSD	+0.0752%	1h	569.20	−0.131%	$5.4M	$19.1M	50x	as long as short
Extended XMR-USD	+0.0760%	1h	570.20	+0.044%	$3.0M	$8.2M	25x	as long as short
Polymarket Perps XMR-USD	+0.0760%	1h	569.98	+0.005%	$28K	$2.2M	5x	as long as short
Paradex XMR-USD-PERP	+0.0886%	8h	570.32	+0.065%	$8K	$4K	20x	as long as short
Pacifica XMR	+0.0912%	1h	570.21	+0.046%	$264K	$1.0M	10x	as long as short
Lighter XMR	+0.0992%	1h	570.17	+0.039%	$3.1M	$7.5M	10x	as long as short
BloFin XMR-USDTshort	+0.0997%	8h	570.78	+0.146%	$2.7M	$11.1M	75x
GRVT XMR_USDT_Perp	+0.1005%	8h	571.24	+0.226%	$330K	$728K	10x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.1036% / S −0.1358%	1h	569.05	−0.158%	$589K	—	100x	as long as short
Orderly PERP_XMR_USDC	+0.1185%	8h	570.19	+0.042%	$40K	$714K	10x	as long as short
Variational Omni XMR	+0.1192%	8h	570.33	+0.066%	$6.3M	$2.3M	—	as long as short
Hyperliquid XMR	+0.1194%	1h	570.34	+0.068%	$86.0M	$71.4M	5x	as long as short
SoDEX XMR-USD	+0.1324%	1h	570.35	+0.070%	$433K	$3K	5x	as long as short
Backpack XMR_USDC_PERPlong	+0.1341%	1h	569.95	long leg	$167K	$533K	20x
Nado XMR-PERP	+0.1461%	1h	570.26	+0.055%	$1.3M	$455K	10x	as long as short
Aftermath Perps XMRUSD	+0.2102%	1h	570.22	+0.048%	$1K	$43K	10x	as long as short