Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.2325%/8h= −254.6% APRpaid last 24h −0.131%

Price spread now: BloFin against dYdX+0.015%7-day average +0.218% · you sell dearer than you buy

Net, funding: paid 7d − costs−$489as in the Funding arb table

Net, price: spread back to 7d avg − costs−$468as in the Price arb table

costs, in and out, $10k−$4484.475% of the position

Long on dYdX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.419%−$42 on $10k

Price spread, last 3 days (all we have)+0.317%+$32 · spread now +0.015%, 7d avg +0.218%

Together, before fees−0.103%−$10 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 BloFin is 0.203% cheaper against dYdX than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of +0.218%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.419% in total (about -21.9% 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	dYdX XMR-USD	600.57	0.2786	pay 0.0348% / 1h	48m 01s	$109K	$50K	5x
Short	BloFin XMR-USDT	600.66	0.0461	get 0.0461% / 8h	48m 01s	$2.8M	$11.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.015%Rate

Funding earned: −$488.28
Price spread: +0.015% → +0.218%: −$20.34
Slippage, 4 orders: −$425.51
Fee dYdX: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$956.13
Costs to cover: 4.475%
Break-even: never at this rate

Slippage from dYdX: live order book, 31 min ago; BloFin: live order book, 6 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, 31 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 BloFin live order book, 6 min ago	0.25 bp	16.5 bp −$17	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	600.58	+0.002%	$45K	—	150x	as long as short
Bybit XMRUSDT	+0.0100%	8h	601.57	+0.166%	$49.1M	$62.8M	75x	as long as short
edgeX XMRUSDC	+0.0100%	4h	600.64	+0.012%	$1.1M	$666K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	600.95	+0.063%	$2K	$2.0M	20x	as long as short
Lighter XMR	+0.0144%	1h	601.38	+0.135%	$3.4M	$6.9M	10x	as long as short
Aevo XMR-PERP	+0.0160%	1h	601.83	+0.209%	$12K	—	3x	as long as short
MEXC XMR_USDT	+0.0327%	8h	601.68	+0.185%	$22.4M	$14.9M	100x	as long as short
Binance XMRUSDT	+0.0328%	8h	601.33	+0.126%	$55.1M	$164.0M	75x	as long as short
Variational Omni XMR	+0.0386%	8h	600.48	−0.014%	$7.0M	$2.5M	—	as long as short
BingX XMR-USDT	+0.0404%	8h	601.76	+0.198%	—	$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	+0.0424%	8h	601.71	+0.189%	$10.1M	$14.3M	50x	as long as short
Backpack XMR_USDC_PERP	+0.0454%	1h	601.06	+0.081%	$205K	$575K	20x	as long as short
Kraken Futures PF_XMRUSD	+0.0457%	1h	600.80	+0.037%	$5.7M	$20.5M	50x	as long as short
BloFin XMR-USDTshort	+0.0461%	8h	600.66	+0.015%	$2.8M	$11.7M	75x
Gate XMR_USDT	+0.0525%	8h	601.05	+0.080%	$1.7M	$4.6M	50x	as long as short
Pacifica XMR	+0.0565%	1h	602.01	+0.239%	$283K	$1.1M	10x	as long as short
KuCoin XMRUSDTM	+0.0580%	8h	601.35	+0.130%	$49.1M	$25.9M	50x	as long as short
Aster XMRUSDT	+0.0587%	8h	601.31	+0.123%	$694K	$2.4M	75x	as long as short
GRVT XMR_USDT_Perp	+0.0606%	8h	600.86	+0.048%	$350K	$786K	10x	as long as short
Polymarket Perps XMR-USD	+0.0689%	1h	602.06	+0.248%	$23K	$1.8M	5x	as long as short
SoDEX XMR-USD	+0.0725%	1h	601.79	+0.203%	$457K	$3K	5x	as long as short
Paradex XMR-USD-PERP	+0.0860%	8h	601.76	+0.197%	$8K	$4K	20x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0887% / S −0.2436%	1h	600.59	+0.003%	$556K	—	100x	as long as short
Orderly PERP_XMR_USDC	+0.0949%	8h	601.48	+0.151%	$44K	$729K	10x	as long as short
Nado XMR-PERP	+0.1035%	1h	601.96	+0.232%	$1.3M	$475K	10x	as long as short
Injective XMR/USDC PERP	+0.1312%	1h	596.76	−0.635%	$3K	$6K	12x	as long as short
Hyperliquid XMR	+0.1576%	1h	602.07	+0.249%	$90.7M	$70.1M	5x	as long as short
Extended XMR-USD	+0.1776%	1h	601.25	+0.112%	$3.2M	$6.9M	25x	as long as short
HTX XMR-USDT	+0.1991%	8h	601.04	+0.078%	$1.1M	$1.5M	20x	as long as short
Aftermath Perps XMRUSD	+0.2324%	1h	601.48	+0.152%	$2K	$46K	10x	as long as short
dYdX XMR-USDlong	+0.2786%	1h	600.57	long leg	$109K	$50K	5x