XMR

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.2348%/8h= −257.1% APRnext payment −$2.93 per $10,000 · paid last 24h −0.067%

Price spread now: Backpack against dYdX+0.097%7-day average +0.131% · you sell dearer than you buy

Net, funding: paid 7d − costs−$416as in the Funding arb table

Net, price: spread back to 7d avg − costs−$438as in the Price arb table

costs, in and out, $10k−$4354.351% of the position

Long on dYdX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.190%+$19 on $10k

Price spread, last 4 days (all we have)+0.313%+$31 · spread now +0.097%, 7d avg +0.131%

Together, before fees+0.503%+$50 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$70 a day on $10k at the current rate, and Backpack is 0.034% cheaper against dYdX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.131%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.190%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.190% in total (about 9.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.93 per $10,000. 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	dYdX XMR-USD	598.89	0.2595	pay 0.0324% / 1h	31m 31s	$109K	$50K	5x
Short	Backpack XMR_USDC_PERP	599.47	0.0247	get 0.0031% / 1h	31m 31s	$204K	$575K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against dYdX. 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 dYdXbpFee BackpackbpOrdersPrice spread, now +0.097%Rate

Funding earned: −$493.03
Price spread: +0.097% → +0.131%: −$3.39
Slippage, 4 orders: −$415.06
Fee dYdX: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$931.47
Costs to cover: 4.351%
Break-even: never at this rate

Slippage from dYdX: live order book, 47 min ago; Backpack: live order book, 47 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 dYdX live order book, 47 min ago	56.23 bp	127.5 bp −$127	165.3 bp −$1,653	397.2 bp −$39.7K	1441.2 bp −$720.6K
Sell Backpack live order book, 47 min ago	1.68 bp	6.7 bp −$7	29.6 bp −$296	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	599.04	+0.026%	$45K	—	150x	as long as short
Bybit XMRUSDT	+0.0100%	8h	598.94	+0.008%	$49.1M	$63.2M	75x	as long as short
edgeX XMRUSDC	+0.0100%	4h	599.52	+0.106%	$1.1M	$664K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	599.04	+0.025%	$2K	$2.0M	20x	as long as short
Aevo XMR-PERP	+0.0160%	1h	599.82	+0.155%	$12K	—	3x	as long as short
Lighter XMR	+0.0176%	1h	599.47	+0.097%	$3.4M	$6.9M	10x	as long as short
Backpack XMR_USDC_PERPshort	+0.0247%	1h	599.47	+0.097%	$204K	$575K	20x
MEXC XMR_USDT	+0.0318%	8h	599.96	+0.179%	$22.3M	$15.0M	100x	as long as short
Binance XMRUSDT	+0.0319%	8h	599.53	+0.107%	$54.8M	$164.4M	75x	as long as short
BingX XMR-USDT	+0.0410%	8h	599.66	+0.129%	—	$5.7M	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget XMRUSDT	+0.0439%	8h	599.23	+0.057%	$10.0M	$14.3M	50x	as long as short
Variational Omni XMR	+0.0439%	8h	599.98	+0.181%	$6.9M	$2.6M	—	as long as short
BloFin XMR-USDT	+0.0446%	8h	599.91	+0.170%	$2.8M	$11.7M	75x	as long as short
Kraken Futures PF_XMRUSD	+0.0459%	1h	598.78	−0.018%	$5.7M	$20.5M	50x	as long as short
Gate XMR_USDT	+0.0498%	8h	599.43	+0.090%	$1.7M	$4.6M	50x	as long as short
Pacifica XMR	+0.0565%	1h	600.01	+0.187%	$282K	$1.1M	10x	as long as short
KuCoin XMRUSDTM	+0.0568%	8h	599.39	+0.083%	$49.0M	$26.0M	50x	as long as short
Aster XMRUSDT	+0.0593%	8h	599.20	+0.052%	$684K	$2.4M	75x	as long as short
GRVT XMR_USDT_Perp	+0.0598%	8h	600.12	+0.205%	$352K	$794K	10x	as long as short
Polymarket Perps XMR-USD	+0.0711%	1h	599.01	+0.020%	$22K	$1.7M	5x	as long as short
SoDEX XMR-USD	+0.0769%	1h	599.97	+0.180%	$456K	$3K	5x	as long as short
Paradex XMR-USD-PERP	+0.0854%	8h	599.88	+0.166%	$8K	$4K	20x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0885% / S −0.2497%	1h	599.00	+0.018%	$566K	—	100x	as long as short
Orderly PERP_XMR_USDC	+0.0947%	8h	599.74	+0.142%	$44K	$729K	10x	as long as short
Nado XMR-PERP	+0.1200%	1h	598.98	+0.014%	$1.3M	$476K	10x	as long as short
Injective XMR/USDC PERP	+0.1312%	1h	596.76	−0.356%	$3K	$6K	12x	as long as short
Hyperliquid XMR	+0.1707%	1h	599.14	+0.042%	$90.6M	$70.7M	5x	as long as short
Extended XMR-USD	+0.1784%	1h	599.57	+0.114%	$3.2M	$6.9M	25x	as long as short
HTX XMR-USDT	+0.1980%	8h	599.53	+0.107%	$1.1M	$1.5M	20x	as long as short
Aftermath Perps XMRUSD	+0.2307%	1h	599.81	+0.154%	$2K	$47K	10x	as long as short
dYdX XMR-USDlong	+0.2595%	1h	598.89	long leg	$109K	$50K	5x