Funding arb · Price arb /

XMR

all XMR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0205%/8h= −22.4% APRpaid last 24h −0.162%

Price spread now: KuCoin against Backpack+0.149%7-day average −0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$154as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$520.519% of the position

Long on Backpack Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−1.020%−$102 on $10k

Price spread, last 4 days (all we have)−0.316%−$32 · spread now +0.149%, 7d avg −0.020%

Together, before fees−1.336%−$134 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.169% dearer against Backpack than usual: you sell high and buy low (spread +0.149% now, against its 7-day average of −0.020%): +$17 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 2.7 days. At the pace of the last 7 days (−1.020% in total) that is about 28 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack XMR_USDC_PERP	591.15	0.0869	pay 0.0109% / 1h	39m 19s	$200K	$549K	20x
Short	KuCoin XMRUSDTM	592.03	0.0664	get 0.0664% / 8h	7h 39m	$48.6M	$26.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.149%Rate

Funding earned: −$43.04
Price spread: +0.149% → −0.020%: $16.86
Slippage, 4 orders: −$29.86
Fee Backpack: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$78.03
Costs to cover: 0.519%
Break-even: never at this rate

Slippage from Backpack: live order book, 34 min ago; KuCoin: live order book, 10 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, 34 min ago	0.34 bp	8.1 bp −$8	27.6 bp −$276	doesn't fit	doesn't fit
Sell KuCoin live order book, 10 min ago	2.81 bp	22.1 bp −$22	42.6 bp −$426	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	591.22	+0.012%	$45K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	596.76	+0.949%	$3K	$4K	12x	as long as short
dYdX XMR-USD	+0.0091%	1h	590.17	−0.167%	$107K	$50K	5x	as long as short
edgeX XMRUSDC	+0.0100%	4h	591.17	+0.003%	$1.0M	$659K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	591.64	+0.083%	$2K	$2.0M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	589.59	−0.264%	$1.1M	$1.5M	20x	as long as short
Aevo XMR-PERP	+0.0184%	1h	592.33	+0.199%	$12K	—	3x	as long as short
MEXC XMR_USDT	+0.0411%	8h	592.33	+0.200%	$21.5M	$15.2M	100x	as long as short
Binance XMRUSDT	+0.0417%	8h	592.82	+0.283%	$54.2M	$166.9M	75x	as long as short
Bitget XMRUSDT	+0.0515%	8h	592.85	+0.288%	$9.8M	$14.6M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin XMR-USDT	+0.0601%	8h	592.61	+0.247%	$2.8M	$11.7M	75x	as long as short
Aster XMRUSDT	+0.0631%	8h	591.68	+0.090%	$655K	$2.5M	75x	as long as short
Kraken Futures PF_XMRUSD	+0.0644%	1h	590.93	−0.038%	$5.6M	$20.5M	50x	as long as short
Pacifica XMR	+0.0659%	1h	591.74	+0.100%	$278K	$1.1M	10x	as long as short
KuCoin XMRUSDTMshort	+0.0664%	8h	592.03	+0.149%	$48.6M	$26.2M	50x
Variational Omni XMR	+0.0778%	8h	592.85	+0.288%	$6.7M	$2.6M	—	as long as short
Backpack XMR_USDC_PERPlong	+0.0869%	1h	591.15	long leg	$200K	$549K	20x
GMX XMR/USD [WBTC.b-USDC]	L +0.0871% / S −0.2452%	1h	590.92	−0.040%	$550K	—	100x	as long as short
Orderly PERP_XMR_USDC	+0.1020%	8h	592.44	+0.218%	$42K	$738K	10x	as long as short
Gate XMR_USDT	+0.1085%	8h	591.88	+0.123%	$1.6M	$4.6M	50x	as long as short
Paradex XMR-USD-PERP	+0.1122%	8h	591.56	+0.069%	$8K	$4K	20x	as long as short
Lighter XMR	+0.1224%	1h	592.38	+0.208%	$3.3M	$7.1M	10x	as long as short
GRVT XMR_USDT_Perp	+0.1240%	8h	589.84	−0.222%	$345K	$805K	10x	as long as short
Polymarket Perps XMR-USD	+0.1338%	1h	592.42	+0.215%	$48K	$1.9M	5x	as long as short
Nado XMR-PERP	+0.1346%	1h	592.41	+0.214%	$1.3M	$467K	10x	as long as short
BingX XMR-USDT	+0.1375%	8h	592.64	+0.252%	—	$5.8M	—	as long as short
SoDEX XMR-USD	+0.1482%	1h	592.57	+0.240%	$450K	$3K	5x	as long as short
Bybit XMRUSDT	+0.1523%	8h	592.99	+0.311%	$47.7M	$64.6M	75x	as long as short
Hyperliquid XMR	+0.2032%	1h	593.07	+0.325%	$89.7M	$72.2M	5x	as long as short
Extended XMR-USD	+0.2400%	1h	592.38	+0.208%	$3.2M	$7.5M	25x	as long as short
Aftermath Perps XMRUSD	+0.2523%	1h	591.07	−0.013%	$1K	$46K	10x	as long as short