Funding arb · Price arb /

XMR

all XMR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h +0.135%

Price spread now: Lighter against Bybit−0.058%7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs+$9as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$350.348% of the position

Long on Bybit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.435%+$44 on $10k

Price spread, last 7 days+0.041%+$4 · spread now −0.058%, 7d avg −0.018%

Together, before fees+0.477%+ Points / potential airdropLighter: Season 3 · farm board+$48 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Lighter is 0.040% cheaper against Bybit than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.018%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.435%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XMRUSDT	586.81	0.0524	pay 0.0524% / 8h	5h 13m	$47.6M	$64.2M	75x
Short	Lighter XMR	586.47	0.0504	get 0.0063% / 1h	13m 42s	$3.3M	$7.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.058%Rate

Funding earned: −$4.19
Price spread: −0.058% → −0.018%: −$4.04
Slippage, 4 orders: −$23.84
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: −$43.06
Costs to cover: 0.348%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; Lighter: 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	1.28 bp	14.6 bp −$15	30.1 bp −$301	96.2 bp −$9,622	doesn't fit
Sell Lighter live order book, 5 min ago	1.54 bp	3.6 bp −$4	13.1 bp −$131	124.1 bp −$12.4K	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	585.43	−0.235%	$46K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	582.55	−0.726%	$3K	$6K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	587.27	+0.078%	$1.0M	$658K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	585.88	−0.158%	$2K	$1.9M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	586.25	−0.095%	$1.1M	$1.6M	20x	as long as short
Aevo XMR-PERP	+0.0208%	1h	583.53	−0.559%	$12K	—	3x	as long as short
dYdX XMR-USD	+0.0274%	1h	585.45	−0.232%	$106K	$50K	5x	as long as short
Polymarket Perps XMR-USD	+0.0307%	1h	585.92	−0.152%	$23K	$2.1M	5x	as long as short
Lighter XMRshort	+0.0504%	1h	586.47	−0.058%	$3.3M	$7.2M	10x
Binance XMRUSDT	+0.0512%	8h	586.68	−0.023%	$53.4M	$165.9M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC XMR_USDT	+0.0512%	8h	586.90	+0.015%	$20.9M	$15.2M	100x	as long as short
Bybit XMRUSDTlong	+0.0524%	8h	586.81	long leg	$47.6M	$64.2M	75x
Gate XMR_USDT	+0.0561%	8h	585.83	−0.167%	$1.6M	$4.5M	50x	as long as short
BingX XMR-USDT	+0.0581%	8h	586.50	−0.053%	—	$5.7M	—	as long as short
Bitget XMRUSDT	+0.0603%	8h	586.57	−0.041%	$9.6M	$14.1M	50x	as long as short
KuCoin XMRUSDTM	+0.0715%	8h	586.10	−0.121%	$48.1M	$26.0M	50x	as long as short
Aster XMRUSDT	+0.0720%	8h	586.09	−0.122%	$660K	$2.4M	75x	as long as short
Backpack XMR_USDC_PERP	+0.0729%	1h	585.64	−0.199%	$172K	$536K	20x	as long as short
BloFin XMR-USDT	+0.0785%	8h	586.86	+0.009%	$2.7M	$11.4M	75x	as long as short
Paradex XMR-USD-PERP	+0.0918%	8h	587.20	+0.067%	$8K	$4K	20x	as long as short
GRVT XMR_USDT_Perp	+0.0953%	8h	587.31	+0.085%	$341K	$764K	10x	as long as short
Kraken Futures PF_XMRUSD	+0.0953%	1h	584.92	−0.322%	$5.5M	$19.6M	50x	as long as short
Nado XMR-PERP	+0.0974%	1h	586.33	−0.083%	$1.3M	$463K	10x	as long as short
Pacifica XMR	+0.0996%	1h	586.74	−0.012%	$272K	$1.1M	10x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.1042% / S −0.1407%	1h	585.34	−0.250%	$653K	—	100x	as long as short
Hyperliquid XMR	+0.1069%	1h	586.57	−0.041%	$88.3M	$71.2M	5x	as long as short
Variational Omni XMR	+0.1072%	8h	587.04	+0.039%	$6.7M	$2.4M	—	as long as short
SoDEX XMR-USD	+0.1097%	1h	586.36	−0.077%	$446K	$3K	5x	as long as short
Orderly PERP_XMR_USDC	+0.1112%	8h	586.35	−0.078%	$41K	$721K	10x	as long as short
Extended XMR-USD	+0.1144%	1h	585.99	−0.140%	$3.2M	$8.0M	25x	as long as short
Aftermath Perps XMRUSD	+0.2489%	1h	586.52	−0.049%	$1K	$45K	10x	as long as short