Funding arb · Price arb /

XMR

all XMR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0282%/8h= +30.8% APRpaid last 24h +0.152%

Price spread now: Kraken Futures against Bybit−0.181%7-day average −0.142% · you buy dearer than you sell

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$630.626% of the position

Long on Bybit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.512%+$51 on $10k

Price spread, last 3 days (all we have)+0.039%+$4 · spread now −0.181%, 7d avg −0.142%

Together, before fees+0.550%+$55 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.039% cheaper against Bybit than usual: you would sell low and buy high (spread −0.181% now, against its 7-day average of −0.142%). If the spread goes back, that is −$4 on $10k: about 11 hours of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XMRUSDT	597.81	0.0100	pay 0.0100% / 8h	1h 28m	$48.4M	$61.6M	75x
Short	Kraken Futures PF_XMRUSD	596.73	0.0382	get 0.0048% / 1h	28m 35s	$5.7M	$20.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bybit. 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 BybitbpFee Kraken FuturesbpOrdersPrice spread, now −0.181%Rate

Funding earned: $59.12
Price spread: −0.181% → −0.142%: −$3.85
Slippage, 4 orders: −$41.64
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$7.37
Costs to cover: 0.626%
Break-even: 7.9 days

Slippage from Bybit: live order book, 5 min ago; Kraken Futures: live order book, 5 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 Bybit live order book, 5 min ago	2.44 bp	12.5 bp −$13	28.3 bp −$283	90.4 bp −$9,040	doesn't fit
Sell Kraken Futures live order book, 5 min ago	11.47 bp	18.3 bp −$18	37.2 bp −$372	133.0 bp −$13.3K	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	596.79	−0.170%	$44K	—	150x	as long as short
Bybit XMRUSDTlong	+0.0100%	8h	597.81	long leg	$48.4M	$61.6M	75x
edgeX XMRUSDC	+0.0100%	4h	594.36	−0.578%	$1.1M	$665K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	596.72	−0.182%	$2K	$1.9M	20x	as long as short
Aevo XMR-PERP	+0.0160%	1h	595.00	−0.470%	$12K	—	3x	as long as short
Variational Omni XMR	+0.0269%	8h	595.77	−0.341%	$6.9M	$2.6M	—	as long as short
MEXC XMR_USDT	+0.0327%	8h	597.83	+0.003%	$22.4M	$15.0M	100x	as long as short
Binance XMRUSDT	+0.0328%	8h	597.71	−0.017%	$54.9M	$163.0M	75x	as long as short
BingX XMR-USDT	+0.0378%	8h	597.64	−0.028%	—	$5.7M	—	as long as short
Kraken Futures PF_XMRUSDshort	+0.0382%	1h	596.73	−0.181%	$5.7M	$20.4M	50x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica XMR	+0.0387%	1h	597.70	−0.018%	$271K	$1.0M	10x	as long as short
Bitget XMRUSDT	+0.0410%	8h	597.88	+0.012%	$10.0M	$14.2M	50x	as long as short
BloFin XMR-USDT	+0.0457%	8h	597.65	−0.027%	$2.8M	$11.5M	75x	as long as short
Gate XMR_USDT	+0.0528%	8h	597.15	−0.110%	$1.7M	$4.6M	50x	as long as short
KuCoin XMRUSDTM	+0.0531%	8h	596.99	−0.137%	$48.7M	$25.9M	50x	as long as short
Aster XMRUSDT	+0.0542%	8h	597.80	−0.002%	$679K	$2.3M	75x	as long as short
GRVT XMR_USDT_Perp	+0.0596%	8h	595.72	−0.350%	$354K	$785K	10x	as long as short
Lighter XMR	+0.0656%	1h	597.59	−0.036%	$3.4M	$6.9M	10x	as long as short
Injective XMR/USDC PERP	+0.0695%	1h	596.76	−0.176%	$3K	$6K	12x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0809% / S −0.1288%	1h	596.72	−0.183%	$331K	—	100x	as long as short
Paradex XMR-USD-PERP	+0.0873%	8h	597.81	0.000%	$8K	$4K	20x	as long as short
Polymarket Perps XMR-USD	+0.0879%	1h	597.58	−0.038%	$23K	$1.8M	5x	as long as short
Orderly PERP_XMR_USDC	+0.0932%	8h	597.29	−0.087%	$50K	$722K	10x	as long as short
Backpack XMR_USDC_PERP	+0.0934%	1h	597.37	−0.074%	$204K	$575K	20x	as long as short
SoDEX XMR-USD	+0.0949%	1h	597.57	−0.040%	$454K	$3K	5x	as long as short
Nado XMR-PERP	+0.1436%	1h	597.81	0.000%	$1.3M	$482K	10x	as long as short
dYdX XMR-USD	+0.1553%	1h	595.73	−0.348%	$108K	$50K	5x	as long as short
Extended XMR-USD	+0.1872%	1h	597.56	−0.041%	$3.1M	$6.8M	25x	as long as short
HTX XMR-USDT	+0.2031%	8h	594.96	−0.477%	$1.1M	$1.5M	20x	as long as short
Hyperliquid XMR	+0.2039%	1h	598.20	+0.065%	$89.0M	$68.6M	5x	as long as short
Aftermath Perps XMRUSD	+0.2487%	1h	596.11	−0.284%	$2K	$47K	10x	as long as short