Funding arb · Price arb /

XMR

all XMR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0538%/8h= +58.9% APRpaid last 24h +0.105%

Price spread now: Hyperliquid against BingX+0.151%7-day average −0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$850.850% of the position

Long on BingX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.157%+$16 on $10k

Price spread, last 7 days−0.162%−$16 · spread now +0.151%, 7d avg −0.034%

Together, before fees−0.005%+ Points / potential airdropHyperliquid: Season 2 · farm board$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and Hyperliquid is 0.185% dearer against BingX than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of −0.034%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.157% in total (about 8.2% 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	BingX XMR-USDT	587.59	0.0582	pay 0.0582% / 8h	5h 20m	—	$5.7M	—
Short	Hyperliquid XMR	588.48	0.1120	get 0.0140% / 1h	20m 27s	$88.6M	$71.2M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BingX. 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 BingXbpFee HyperliquidbpOrdersPrice spread, now +0.151%Rate

Funding earned: $112.89
Price spread: +0.151% → −0.034%: $18.46
Slippage, 4 orders: −$66.03
Fee BingX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $46.32
Costs to cover: 0.850%
Break-even: 4.1 days

Slippage from BingX: live order book, 5 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 BingX live order book, 5 min ago	0.09 bp	51.4 bp −$51	63.4 bp −$634	150.6 bp −$15.1K	doesn't fit
Sell Hyperliquid live order book, 3 min ago	1.27 bp	11.3 bp −$11	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 −0.0010%	1h	587.28	−0.053%	$47K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	582.55	−0.858%	$3K	$6K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	587.12	−0.081%	$1.0M	$656K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	587.87	+0.048%	$2K	$1.9M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	586.96	−0.107%	$1.1M	$1.6M	20x	as long as short
Aevo XMR-PERP	+0.0216%	1h	588.90	+0.224%	$12K	—	3x	as long as short
dYdX XMR-USD	+0.0274%	1h	586.87	−0.122%	$106K	$50K	5x	as long as short
Polymarket Perps XMR-USD	+0.0393%	1h	587.80	+0.036%	$23K	$2.1M	5x	as long as short
Binance XMRUSDT	+0.0524%	8h	588.09	+0.085%	$53.5M	$166.0M	75x	as long as short
MEXC XMR_USDT	+0.0524%	8h	588.16	+0.097%	$20.8M	$15.2M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XMR	+0.0544%	1h	587.83	+0.041%	$3.3M	$7.2M	10x	as long as short
Bybit XMRUSDT	+0.0566%	8h	588.47	+0.150%	$47.8M	$64.2M	75x	as long as short
Gate XMR_USDT	+0.0581%	8h	587.15	−0.075%	$1.6M	$4.5M	50x	as long as short
BingX XMR-USDTlong	+0.0582%	8h	587.59	long leg	—	$5.7M	—
Bitget XMRUSDT	+0.0613%	8h	588.45	+0.146%	$9.6M	$14.2M	50x	as long as short
Aster XMRUSDT	+0.0735%	8h	588.20	+0.103%	$655K	$2.4M	75x	as long as short
KuCoin XMRUSDTM	+0.0752%	8h	588.09	+0.085%	$48.3M	$26.0M	50x	as long as short
Backpack XMR_USDC_PERP	+0.0754%	1h	588.41	+0.140%	$172K	$537K	20x	as long as short
BloFin XMR-USDT	+0.0804%	8h	588.67	+0.184%	$2.7M	$11.5M	75x	as long as short
Kraken Futures PF_XMRUSD	+0.0950%	1h	587.17	−0.072%	$5.5M	$19.6M	50x	as long as short
Paradex XMR-USD-PERP	+0.0951%	8h	587.83	+0.040%	$8K	$4K	20x	as long as short
GRVT XMR_USDT_Perp	+0.0993%	8h	589.21	+0.277%	$349K	$766K	10x	as long as short
Pacifica XMR	+0.0996%	1h	588.02	+0.074%	$273K	$1.1M	10x	as long as short
Nado XMR-PERP	+0.1001%	1h	587.92	+0.057%	$1.3M	$464K	10x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.1044% / S −0.1407%	1h	587.28	−0.052%	$655K	—	100x	as long as short
Variational Omni XMR	+0.1080%	8h	588.99	+0.238%	$6.7M	$2.4M	—	as long as short
Orderly PERP_XMR_USDC	+0.1114%	8h	588.71	+0.191%	$41K	$721K	10x	as long as short
Hyperliquid XMRshort	+0.1120%	1h	588.48	+0.151%	$88.6M	$71.2M	5x
Extended XMR-USD	+0.1232%	1h	587.59	0.000%	$3.2M	$8.0M	25x	as long as short
SoDEX XMR-USD	+0.1255%	1h	588.70	+0.189%	$447K	$3K	5x	as long as short
Aftermath Perps XMRUSD	+0.2520%	1h	587.08	−0.087%	$1K	$45K	10x	as long as short