Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.2498%/8h= −273.5% APRpaid last 24h −0.339%

Price spread now: KuCoin against dYdX+0.137%47s7-day average +0.112% · you sell dearer than you buy

Net, funding: paid 7d − costs−$524as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$4224.225% of the position

Long on dYdX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−1.017%−$102 on $10k

Price spread, last 4 days (all we have)+0.062%+$6 · spread now +0.137%, 7d avg +0.112%

Together, before fees−0.955%−$95 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.025% dearer against dYdX than usual: you sell high and buy low (spread +0.137% now, against its 7-day average of +0.112%): +$3 on $10k if it goes back. Holding the pair costs −$75 a day in funding at the current rate, which eats that in about under an hour. At the pace of the last 7 days (−1.017% in total) that is about 4 hours. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -1.017% in total (about -53.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX XMR-USD	567.48	0.3325	pay 0.0416% / 1h	48m 00s	$103K	$24K	5x
Short	KuCoin XMRUSDTM	568.26	0.0827	get 0.0827% / 8h	4h 48m	$46.2M	$14.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against dYdX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 KuCoinbpOrdersPrice spread, now +0.137%Rate

Funding earned: −$524.56
Price spread: +0.137% → +0.112%: $2.53
Slippage, 4 orders: −$400.49
Fee dYdX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$944.53
Costs to cover: 4.225%
Break-even: never at this rate

Slippage from dYdX: live order book, 59 min ago; KuCoin: live order book, 4 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, 59 min ago	85.58 bp	91.1 bp −$91	91.1 bp −$911	131.4 bp −$13.1K	695.8 bp −$347.9K
Sell KuCoin live order book, 4 min ago	2.99 bp	16.4 bp −$16	37.0 bp −$370	doesn't fit	doesn't fit

XMR on 31 exchanges

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 −0.0004%	1h	567.45	−0.006%	$32K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	582.55	+2.655%	$3K	$3K	12x	as long as short
Lighter XMR	+0.0096%	1h	568.18	+0.122%	$3.0M	$4.5M	10x	as long as short
edgeX XMRUSDC	+0.0100%	4h	568.05	+0.100%	$1.1M	$481K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	568.16	+0.119%	$2K	$815K	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	568.55	+0.188%	$1.0M	$892K	20x	as long as short
Extended XMR-USD	+0.0104%	1h	568.19	+0.124%	$3.1M	$5.8M	25x	as long as short
Polymarket Perps XMR-USD	+0.0183%	1h	568.84	+0.239%	$23K	$1.5M	5x	as long as short
Aevo XMR-PERP	+0.0184%	1h	567.77	+0.051%	$11K	—	3x	as long as short
Hyperliquid XMR	+0.0198%	1h	568.24	+0.133%	$86.5M	$49.6M	5x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster XMRUSDT	+0.0410%	8h	568.50	+0.179%	$657K	$1.1M	75x	as long as short
Binance XMRUSDT	+0.0415%	8h	568.40	+0.162%	$52.5M	$76.6M	75x	as long as short
MEXC XMR_USDT	+0.0416%	8h	568.40	+0.162%	$19.3M	$6.9M	100x	as long as short
Backpack XMR_USDC_PERP	+0.0429%	1h	568.20	+0.126%	$160K	$416K	20x	as long as short
SoDEX XMR-USD	+0.0440%	1h	568.50	+0.179%	$432K	$4K	5x	as long as short
Bybit XMRUSDT	+0.0460%	8h	568.39	+0.160%	$46.6M	$40.3M	75x	as long as short
Pacifica XMR	+0.0527%	1h	569.25	+0.311%	$269K	$598K	10x	as long as short
GRVT XMR_USDT_Perp	+0.0601%	8h	568.13	+0.114%	$335K	$715K	10x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0617% / S −0.0355%	1h	567.31	−0.030%	$449K	—	100x	as long as short
Gate XMR_USDT	+0.0634%	8h	568.22	+0.130%	$1.5M	$2.1M	50x	as long as short
Nado XMR-PERP	+0.0641%	1h	569.32	+0.323%	$1.2M	$153K	10x	as long as short
Paradex XMR-USD-PERP	+0.0652%	8h	569.25	+0.312%	$8K	$1K	20x	as long as short
Kraken Futures PF_XMRUSD	+0.0718%	1h	567.43	−0.009%	$5.4M	$6.0M	50x	as long as short
BloFin XMR-USDT	+0.0723%	8h	568.00	+0.091%	$2.7M	$8.9M	75x	as long as short
BingX XMR-USDT	+0.0745%	8h	569.50	+0.356%	—	$4.4M	—	as long as short
Bitget XMRUSDT	+0.0778%	8h	568.67	+0.209%	$9.1M	$8.5M	50x	as long as short
Variational Omni XMR	+0.0793%	8h	567.67	+0.034%	$6.1M	$2.1M	—	as long as short
KuCoin XMRUSDTMshort	+0.0827%	8h	568.26	+0.137%	$46.2M	$14.6M	50x
Orderly PERP_XMR_USDC	+0.1047%	8h	568.25	+0.135%	$41K	$246K	10x	as long as short
Aftermath Perps XMRUSD	+0.1922%	1h	568.48	+0.175%	$1K	$36K	10x	as long as short
dYdX XMR-USDlong	+0.3325%	1h	567.48	long leg	$103K	$24K	5x