Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.1134%/8h= +124.2% APRpaid last 24h +0.016%

Price spread now: Hyperliquid against Binance+0.128%7-day average −0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

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

costs, in and out, $10k−$380.378% of the position

Long on Binance Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.106%+$11 on $10k

Price spread, last 7 days−0.133%−$13 · spread now +0.128%, 7d avg −0.041%

Together, before fees−0.027%+ Points / potential airdropHyperliquid: Season 2 · farm board−$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$34 a day on $10k at the current rate, and Hyperliquid is 0.169% dearer against Binance than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of −0.041%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.106% in total (about 5.5% 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	Binance XMRUSDT	593.87	0.0369	pay 0.0369% / 8h	2h 40m	$54.4M	$161.7M	75x
Short	Hyperliquid XMR	594.63	0.1503	get 0.0188% / 1h	40m 28s	$86.5M	$65.6M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Binance. 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 BinancebpFee HyperliquidbpOrdersPrice spread, now +0.128%Rate

Funding earned: $238.15
Price spread: +0.128% → −0.041%: $16.88
Slippage, 4 orders: −$18.82
Fee Binance: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $217.21
Costs to cover: 0.378%
Break-even: 0.6 days

Slippage from Binance: live order book, 3 min ago; Hyperliquid: live order book, 3 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 Binance live order book, 3 min ago	0.08 bp	9.6 bp −$10	18.7 bp −$187	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 3 min ago	2.10 bp	7.1 bp −$7	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	592.75	−0.189%	$45K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	591.89	−0.333%	$3K	$6K	12x	as long as short
Bybit XMRUSDT	+0.0100%	8h	593.30	−0.096%	$47.5M	$60.7M	75x	as long as short
Backpack XMR_USDC_PERP	+0.0100%	1h	592.60	−0.214%	$202K	$559K	20x	as long as short
edgeX XMRUSDC	+0.0100%	4h	591.02	−0.480%	$1.0M	$674K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	593.13	−0.125%	$2K	$1.9M	20x	as long as short
SoDEX XMR-USD	+0.0127%	1h	593.24	−0.106%	$451K	$4K	5x	as long as short
Lighter XMR	+0.0128%	1h	593.33	−0.092%	$3.5M	$6.6M	10x	as long as short
dYdX XMR-USD	+0.0142%	1h	592.66	−0.204%	$108K	$50K	5x	as long as short
Polymarket Perps XMR-USD	+0.0143%	1h	593.96	+0.015%	$24K	$1.8M	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo XMR-PERP	+0.0176%	1h	593.69	−0.030%	$12K	—	3x	as long as short
Variational Omni XMR	+0.0300%	8h	593.60	−0.045%	$6.9M	$2.8M	—	as long as short
Gate XMR_USDT	+0.0349%	8h	593.07	−0.135%	$1.6M	$4.5M	50x	as long as short
MEXC XMR_USDT	+0.0369%	8h	593.77	−0.017%	$22.6M	$15.2M	100x	as long as short
Binance XMRUSDTlong	+0.0369%	8h	593.87	long leg	$54.4M	$161.7M	75x
BingX XMR-USDT	+0.0376%	8h	593.29	−0.098%	—	$5.8M	—	as long as short
Bitget XMRUSDT	+0.0392%	8h	593.69	−0.030%	$9.9M	$14.0M	50x	as long as short
BloFin XMR-USDT	+0.0521%	8h	593.54	−0.056%	$2.8M	$11.3M	75x	as long as short
Aster XMRUSDT	+0.0554%	8h	593.30	−0.097%	$669K	$2.3M	75x	as long as short
Kraken Futures PF_XMRUSD	+0.0614%	1h	592.33	−0.259%	$5.6M	$20.3M	50x	as long as short
GRVT XMR_USDT_Perp	+0.0617%	8h	590.89	−0.503%	$344K	$796K	10x	as long as short
Pacifica XMR	+0.0619%	1h	593.73	−0.024%	$269K	$1.0M	10x	as long as short
KuCoin XMRUSDTM	+0.0625%	8h	593.36	−0.086%	$49.3M	$25.4M	50x	as long as short
Paradex XMR-USD-PERP	+0.0733%	8h	593.73	−0.023%	$8K	$4K	20x	as long as short
Nado XMR-PERP	+0.0792%	1h	593.55	−0.054%	$1.3M	$477K	10x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0841% / S −0.1411%	1h	592.73	−0.191%	$352K	—	100x	as long as short
Orderly PERP_XMR_USDC	+0.0867%	8h	593.13	−0.125%	$48K	$729K	10x	as long as short
Extended XMR-USD	+0.1056%	1h	593.32	−0.092%	$3.1M	$6.8M	25x	as long as short
Hyperliquid XMRshort	+0.1503%	1h	594.63	+0.128%	$86.5M	$65.6M	5x
Aftermath Perps XMRUSD	+0.2284%	1h	592.68	−0.201%	$2K	$47K	10x	as long as short
HTX XMR-USDT	+0.2389%	8h	591.25	−0.441%	$1.1M	$1.4M	20x	as long as short