Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.1282%/8h= +140.4% APRpaid last 24h +0.091%

Price spread now: Hyperliquid against Bitget+0.173%7-day average −0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$530.528% of the position

Long on Bitget Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.242%+$24 on $10k

Price spread, last 7 days−0.195%−$19 · spread now +0.173%, 7d avg −0.034%

Together, before fees+0.048%+ Points / potential airdropHyperliquid: Season 2 · farm board+$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$38 a day on $10k at the current rate, and Hyperliquid is 0.208% dearer against Bitget than usual: you sell high and buy low: +$21 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 0.242% in total (about 12.6% 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	Bitget XMRUSDT	599.62	0.0429	pay 0.0429% / 8h	36m 44s	$10.0M	$14.3M	50x
Short	Hyperliquid XMR	600.66	0.1711	get 0.0214% / 1h	36m 44s	$90.6M	$70.4M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Bitget. 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 BitgetbpFee HyperliquidbpOrdersPrice spread, now +0.173%Rate

Funding earned: $269.25
Price spread: +0.173% → −0.034%: $20.78
Slippage, 4 orders: −$31.83
Fee Bitget: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $237.21
Costs to cover: 0.528%
Break-even: 0.8 days

Slippage from Bitget: live order book, 2 min ago; Hyperliquid: live order book, 7 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 Bitget live order book, 2 min ago	4.67 bp	19.0 bp −$19	35.5 bp −$355	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 7 min ago	0.08 bp	8.1 bp −$8	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	597.90	−0.286%	$45K	—	150x	as long as short
Bybit XMRUSDT	+0.0100%	8h	600.19	+0.095%	$49.1M	$63.1M	75x	as long as short
edgeX XMRUSDC	+0.0100%	4h	599.89	+0.046%	$1.1M	$663K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	598.18	−0.240%	$2K	$2.0M	20x	as long as short
Lighter XMR	+0.0104%	1h	599.69	+0.012%	$3.4M	$6.9M	10x	as long as short
Aevo XMR-PERP	+0.0160%	1h	599.04	−0.096%	$12K	—	3x	as long as short
Backpack XMR_USDC_PERP	+0.0247%	1h	598.60	−0.170%	$204K	$575K	20x	as long as short
Binance XMRUSDT	+0.0317%	8h	599.88	+0.043%	$54.9M	$164.3M	75x	as long as short
MEXC XMR_USDT	+0.0319%	8h	599.88	+0.043%	$22.3M	$14.9M	100x	as long as short
BingX XMR-USDT	+0.0409%	8h	600.23	+0.102%	—	$5.7M	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni XMR	+0.0413%	8h	600.72	+0.183%	$6.9M	$2.6M	—	as long as short
Bitget XMRUSDTlong	+0.0429%	8h	599.62	long leg	$10.0M	$14.3M	50x
BloFin XMR-USDT	+0.0449%	8h	599.32	−0.050%	$2.8M	$11.7M	75x	as long as short
Kraken Futures PF_XMRUSD	+0.0460%	1h	598.05	−0.262%	$5.7M	$20.5M	50x	as long as short
Gate XMR_USDT	+0.0503%	8h	599.18	−0.073%	$1.7M	$4.6M	50x	as long as short
Pacifica XMR	+0.0565%	1h	600.04	+0.070%	$282K	$1.1M	10x	as long as short
KuCoin XMRUSDTM	+0.0577%	8h	599.38	−0.040%	$49.0M	$26.0M	50x	as long as short
Aster XMRUSDT	+0.0585%	8h	599.18	−0.073%	$684K	$2.4M	75x	as long as short
GRVT XMR_USDT_Perp	+0.0599%	8h	600.70	+0.180%	$352K	$794K	10x	as long as short
SoDEX XMR-USD	+0.0660%	1h	599.17	−0.075%	$455K	$3K	5x	as long as short
Polymarket Perps XMR-USD	+0.0675%	1h	598.92	−0.117%	$22K	$1.8M	5x	as long as short
Paradex XMR-USD-PERP	+0.0853%	8h	599.81	+0.031%	$8K	$4K	20x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0887% / S −0.2522%	1h	597.75	−0.311%	$569K	—	100x	as long as short
Orderly PERP_XMR_USDC	+0.0945%	8h	598.81	−0.135%	$44K	$729K	10x	as long as short
Nado XMR-PERP	+0.1134%	1h	599.07	−0.091%	$1.3M	$476K	10x	as long as short
Injective XMR/USDC PERP	+0.1312%	1h	596.76	−0.477%	$3K	$6K	12x	as long as short
Hyperliquid XMRshort	+0.1711%	1h	600.66	+0.173%	$90.6M	$70.4M	5x
Extended XMR-USD	+0.1752%	1h	599.49	−0.022%	$3.2M	$6.9M	25x	as long as short
HTX XMR-USDT	+0.1989%	8h	598.27	−0.225%	$1.1M	$1.5M	20x	as long as short
Aftermath Perps XMRUSD	+0.2315%	1h	599.10	−0.087%	$2K	$47K	10x	as long as short
dYdX XMR-USD	+0.2591%	1h	599.39	−0.038%	$109K	$50K	5x	as long as short