Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.2183%/8h= +239.1% APRpaid last 24h +0.558%

Price spread now: HTX against Backpack−0.353%7-day average −0.237% · you buy dearer than you sell

Net, funding: paid 7d − costs−$3as in the Funding arb table

Net, price: spread back to 7d avg − costs−$127as in the Price arb table

costs, in and out, $10k−$1151.150% of the position

Long on Backpack Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+1.122%+$112 on $10k

Price spread, last 3 days (all we have)−0.404%−$40 · spread now −0.353%, 7d avg −0.237%

Together, before fees+0.719%+$72 on $10k · with fees, hour by hour

Funding pays, the price is against you. HTX is 0.116% cheaper against Backpack than usual: you would sell low and buy high (spread −0.353% now, against its 7-day average of −0.237%). If the spread goes back, that is −$12 on $10k: about 4 hours of funding at the current rate (+$65 a day). At the pace of the last 7 days (+1.122% in total) that is about 17 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 1.122% in total (about 58.5% 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	Backpack XMR_USDC_PERP	595.10	0.0195	pay 0.0024% / 1h	32m 46s	$203K	$573K	20x
Short	HTX XMR-USDT	593.00	0.2379	get 0.2379% / 8h	2h 32m	$1.1M	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.353%Rate

Funding earned: $458.49
Price spread: −0.353% → −0.237%: −$11.62
Slippage, 4 orders: −$93.01
Fee Backpack: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: $331.86
Costs to cover: 1.150%
Break-even: 1.9 days

Slippage from Backpack: live order book, 56 min ago; HTX: live order book, 1 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, 56 min ago	1.87 bp	7.0 bp −$7	33.0 bp −$330	doesn't fit	doesn't fit
Sell HTX live order book, 1 min ago	12.32 bp	41.4 bp −$41	305.4 bp −$3,054	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 −0.0009%	1h	594.83	−0.046%	$45K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	591.89	−0.539%	$3K	$6K	12x	as long as short
Bybit XMRUSDT	+0.0100%	8h	595.29	+0.032%	$47.7M	$60.8M	75x	as long as short
edgeX XMRUSDC	+0.0100%	4h	595.49	+0.066%	$1.1M	$673K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	594.91	−0.032%	$2K	$1.9M	20x	as long as short
Aevo XMR-PERP	+0.0176%	1h	596.25	+0.192%	$12K	—	3x	as long as short
Backpack XMR_USDC_PERPlong	+0.0195%	1h	595.10	long leg	$203K	$573K	20x
Polymarket Perps XMR-USD	+0.0256%	1h	595.45	+0.059%	$27K	$1.8M	5x	as long as short
Lighter XMR	+0.0280%	1h	595.40	+0.051%	$3.5M	$6.7M	10x	as long as short
Variational Omni XMR	+0.0295%	8h	595.15	+0.008%	$6.9M	$2.8M	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX XMR-USD	+0.0336%	1h	595.67	+0.096%	$453K	$4K	5x	as long as short
MEXC XMR_USDT	+0.0367%	8h	595.82	+0.121%	$22.7M	$15.2M	100x	as long as short
Binance XMRUSDT	+0.0367%	8h	595.47	+0.063%	$54.5M	$161.9M	75x	as long as short
BingX XMR-USDT	+0.0372%	8h	595.76	+0.111%	—	$5.8M	—	as long as short
dYdX XMR-USD	+0.0384%	1h	594.91	−0.032%	$108K	$50K	5x	as long as short
Bitget XMRUSDT	+0.0395%	8h	596.03	+0.156%	$9.9M	$14.0M	50x	as long as short
Gate XMR_USDT	+0.0397%	8h	594.85	−0.042%	$1.6M	$4.5M	50x	as long as short
BloFin XMR-USDT	+0.0515%	8h	595.60	+0.084%	$2.8M	$11.3M	75x	as long as short
Aster XMRUSDT	+0.0554%	8h	595.80	+0.118%	$674K	$2.3M	75x	as long as short
Kraken Futures PF_XMRUSD	+0.0612%	1h	594.76	−0.056%	$5.7M	$20.4M	50x	as long as short
Pacifica XMR	+0.0619%	1h	595.90	+0.134%	$269K	$1.0M	10x	as long as short
GRVT XMR_USDT_Perp	+0.0626%	8h	595.36	+0.043%	$349K	$782K	10x	as long as short
KuCoin XMRUSDTM	+0.0630%	8h	595.57	+0.079%	$49.6M	$25.4M	50x	as long as short
Paradex XMR-USD-PERP	+0.0771%	8h	595.71	+0.103%	$8K	$4K	20x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0842% / S −0.1411%	1h	594.73	−0.063%	$354K	—	100x	as long as short
Orderly PERP_XMR_USDC	+0.0881%	8h	595.46	+0.060%	$48K	$729K	10x	as long as short
Nado XMR-PERP	+0.0884%	1h	595.13	+0.006%	$1.3M	$477K	10x	as long as short
Extended XMR-USD	+0.1168%	1h	595.60	+0.083%	$3.1M	$6.8M	25x	as long as short
Hyperliquid XMR	+0.1655%	1h	596.67	+0.264%	$86.9M	$65.6M	5x	as long as short
Aftermath Perps XMRUSD	+0.2353%	1h	594.87	−0.039%	$2K	$47K	10x	as long as short
HTX XMR-USDTshort	+0.2379%	8h	593.00	−0.353%	$1.1M	$1.4M	20x