Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.1026%/8h= −112.4% APRpaid last 24h −0.031%

Price spread now: Orderly against dYdX+0.248%7-day average +0.164% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on dYdX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.046%+$5 on $10k

Price spread, last 4 days (all we have)+0.059%+$6 · spread now +0.248%, 7d avg +0.164%

Together, before fees+0.104%+$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Orderly is 0.084% dearer against dYdX than usual: you sell high and buy low (spread +0.248% now, against its 7-day average of +0.164%): +$8 on $10k if it goes back. Holding the pair costs −$31 a day in funding at the current rate, which eats that in about 7 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.046% in total (about 2.4% 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	569.05	0.2190	pay 0.0274% / 1h	55m 36s	$103K	$44K	5x
Short	Orderly PERP_XMR_USDC	570.46	0.1164	get 0.1164% / 8h	2h 55m	$40K	$723K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.248%Rate

Funding earned: −$215.49
Price spread: +0.248% → +0.164%: $8.41
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$223.07
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: dYdX: live order book, 58 min ago; Orderly: no order-book sample. Net counts fees only.

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, 58 min ago	75.75 bp	91.9 bp −$92	93.1 bp −$931	147.8 bp −$14.8K	963.7 bp −$481.8K
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 −0.0003%	1h	568.82	−0.041%	$37K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	582.55	+2.372%	$3K	$3K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	568.63	−0.074%	$1.0M	$645K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	569.87	+0.144%	$2K	$1.9M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	569.00	−0.009%	$1.0M	$1.6M	20x	as long as short
Aevo XMR-PERP	+0.0224%	1h	570.39	+0.235%	$12K	—	3x	as long as short
KuCoin XMRUSDTM	+0.0271%	8h	570.49	+0.253%	$44.9M	$26.5M	50x	as long as short
Bitget XMRUSDT	+0.0550%	8h	571.22	+0.381%	$9.4M	$13.5M	50x	as long as short
Gate XMR_USDT	+0.0574%	8h	570.44	+0.244%	$1.5M	$4.3M	50x	as long as short
MEXC XMR_USDT	+0.0587%	8h	571.25	+0.387%	$19.7M	$14.6M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance XMRUSDT	+0.0593%	8h	571.05	+0.351%	$52.3M	$163.5M	75x	as long as short
BingX XMR-USDT	+0.0638%	8h	570.92	+0.329%	—	$5.7M	—	as long as short
Bybit XMRUSDT	+0.0682%	8h	571.06	+0.353%	$46.3M	$64.8M	75x	as long as short
Extended XMR-USD	+0.0696%	1h	570.81	+0.309%	$3.0M	$8.4M	25x	as long as short
Paradex XMR-USD-PERP	+0.0713%	8h	570.64	+0.280%	$8K	$4K	20x	as long as short
Aster XMRUSDT	+0.0737%	8h	569.80	+0.132%	$638K	$2.3M	75x	as long as short
Kraken Futures PF_XMRUSD	+0.0752%	1h	569.56	+0.090%	$5.4M	$19.1M	50x	as long as short
Pacifica XMR	+0.0912%	1h	570.91	+0.326%	$264K	$1.0M	10x	as long as short
Lighter XMR	+0.0920%	1h	570.84	+0.314%	$3.1M	$7.5M	10x	as long as short
BloFin XMR-USDT	+0.0958%	8h	570.45	+0.246%	$2.7M	$11.1M	75x	as long as short
GRVT XMR_USDT_Perp	+0.0972%	8h	568.55	−0.088%	$336K	$720K	10x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.1012% / S −0.1311%	1h	568.64	−0.072%	$589K	—	100x	as long as short
Polymarket Perps XMR-USD	+0.1034%	1h	570.08	+0.181%	$28K	$2.2M	5x	as long as short
Orderly PERP_XMR_USDCshort	+0.1164%	8h	570.46	+0.248%	$40K	$723K	10x
Variational Omni XMR	+0.1177%	8h	570.56	+0.265%	$6.3M	$2.3M	—	as long as short
Nado XMR-PERP	+0.1314%	1h	570.07	+0.179%	$1.3M	$458K	10x	as long as short
Hyperliquid XMR	+0.1394%	1h	570.54	+0.262%	$86.0M	$71.4M	5x	as long as short
Backpack XMR_USDC_PERP	+0.1750%	1h	570.27	+0.214%	$168K	$533K	20x	as long as short
SoDEX XMR-USD	+0.1823%	1h	570.67	+0.285%	$434K	$3K	5x	as long as short
Aftermath Perps XMRUSD	+0.1987%	1h	569.90	+0.150%	$1K	$43K	10x	as long as short
dYdX XMR-USDlong	+0.2190%	1h	569.05	long leg	$103K	$44K	5x