Funding arb · Price arb /

XMR

all XMR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0909%/8h= −99.5% APRpaid last 24h −0.277%

Price spread now: SunX against Backpack−0.254%49s7-day average −0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs−$200as 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−$700.700% of the position

Long on Backpack Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−1.302%−$130 on $10k

Price spread, last 3 days (all we have)+0.208%+$21 · spread now −0.254%, 7d avg −0.010%

Together, before fees−1.093%−$109 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$27 a day on $10k at the current rate, and SunX is 0.243% cheaper against Backpack than usual: you would sell low and buy high (−$24 if the spread goes back to its 7-day average of −0.010%). Swap the legs. The two prices were read 49 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	587.73	0.1009	pay 0.0126% / 1h	18m 21s	$199K	$527K	20x
Short	SunX XMR-USDT	586.24	0.0100	get 0.0100% / 8h	7h 18m	$2K	$2.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.254%Rate

Funding earned: −$190.92
Price spread: −0.254% → −0.010%: −$24.31
Slippage, 4 orders: −$52.04
Fee Backpack: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$285.27
Costs to cover: 0.700%
Break-even: never at this rate

Slippage from Backpack: live order book, 55 min ago; SunX: live order book, 8 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, 55 min ago	0.34 bp	8.1 bp −$8	27.6 bp −$276	doesn't fit	doesn't fit
Sell SunX live order book, 8 min ago	13.42 bp	22.0 bp −$22	doesn't fit	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	586.14	−0.271%	$45K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	596.76	+1.536%	$3K	$4K	12x	as long as short
dYdX XMR-USD	+0.0057%	1h	586.36	−0.233%	$106K	$50K	5x	as long as short
edgeX XMRUSDC	+0.0100%	4h	590.84	+0.528%	$1.0M	$661K	10x	as long as short
SunX XMR-USDTshort	+0.0100%	8h	586.24	−0.254%	$2K	$2.0M	20x
HTX XMR-USDT	+0.0100%	8h	588.00	+0.046%	$1.1M	$1.6M	20x	as long as short
Aevo XMR-PERP	+0.0192%	1h	587.41	−0.054%	$12K	—	3x	as long as short
Binance XMRUSDT	+0.0428%	8h	586.91	−0.139%	$53.5M	$167.0M	75x	as long as short
MEXC XMR_USDT	+0.0430%	8h	587.10	−0.107%	$21.2M	$15.3M	100x	as long as short
Bitget XMRUSDT	+0.0546%	8h	586.94	−0.134%	$9.6M	$14.4M	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	+0.0620%	8h	588.63	+0.153%	$2.7M	$11.6M	75x	as long as short
Aster XMRUSDT	+0.0625%	8h	587.12	−0.104%	$652K	$2.5M	75x	as long as short
Kraken Futures PF_XMRUSD	+0.0648%	1h	586.54	−0.202%	$5.6M	$20.5M	50x	as long as short
Pacifica XMR	+0.0659%	1h	587.36	−0.063%	$278K	$1.1M	10x	as long as short
KuCoin XMRUSDTM	+0.0689%	8h	587.17	−0.095%	$48.2M	$26.0M	50x	as long as short
Gate XMR_USDT	+0.0732%	8h	586.43	−0.221%	$1.6M	$4.6M	50x	as long as short
Variational Omni XMR	+0.0867%	8h	591.04	+0.563%	$6.8M	$2.6M	—	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0869% / S −0.2458%	1h	586.10	−0.277%	$546K	—	100x	as long as short
GRVT XMR_USDT_Perp	+0.0967%	8h	591.60	+0.658%	$350K	$792K	10x	as long as short
Backpack XMR_USDC_PERPlong	+0.1009%	1h	587.73	long leg	$199K	$527K	20x
Orderly PERP_XMR_USDC	+0.1040%	8h	587.28	−0.077%	$42K	$739K	10x	as long as short
Bybit XMRUSDT	+0.1109%	8h	587.46	−0.046%	$47.4M	$64.6M	75x	as long as short
Polymarket Perps XMR-USD	+0.1120%	1h	587.00	−0.124%	$47K	$1.9M	5x	as long as short
BingX XMR-USDT	+0.1174%	8h	587.62	−0.019%	—	$5.8M	—	as long as short
SoDEX XMR-USD	+0.1188%	1h	587.28	−0.077%	$446K	$3K	5x	as long as short
Lighter XMR	+0.1216%	1h	587.28	−0.076%	$3.3M	$7.1M	10x	as long as short
Paradex XMR-USD-PERP	+0.1261%	8h	587.09	−0.110%	$8K	$4K	20x	as long as short
Nado XMR-PERP	+0.1432%	1h	587.55	−0.031%	$1.3M	$466K	10x	as long as short
Hyperliquid XMR	+0.1988%	1h	587.36	−0.063%	$89.2M	$73.0M	5x	as long as short
Extended XMR-USD	+0.2472%	1h	587.62	−0.018%	$3.2M	$7.9M	25x	as long as short
Aftermath Perps XMRUSD	+0.2652%	1h	589.38	+0.281%	$1K	$46K	10x	as long as short