Funding arb · Price arb /

XMR

all XMR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0351%/8h= +38.4% APRpaid last 24h +0.313%

Price spread now: Backpack against edgeX+0.016%85s7-day average −0.092% · you sell dearer than you buy

Net, funding: paid 7d − costs+$86as 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−$460.456% of the position

Long on edgeX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+1.314%+$131 on $10k

Price spread, last 3 days (all we have)−0.438%−$44 · spread now +0.016%, 7d avg −0.092%

Together, before fees+0.876%+ Points / potential airdropedgeX: Active · farm board+$88 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Backpack is 0.108% dearer against edgeX than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of −0.092%. The two prices were read 85 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX XMRUSDC	591.40	0.0100	pay 0.0050% / 4h	9m 50s	$1.0M	$663K	10x
Short	Backpack XMR_USDC_PERP	591.50	0.0451	get 0.0056% / 1h	9m 50s	$201K	$580K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against edgeX. 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 edgeXbpFee BackpackbpOrdersPrice spread, now +0.016%Rate

Funding earned: $73.63
Price spread: +0.016% → −0.092%: $10.8
Slippage, 4 orders: −$26.62
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Backpack: 5 bp × 2 orders: −$10
Net: $38.81
Costs to cover: 0.456%
Break-even: 3.3 days

Slippage from edgeX: live order book, 4 min ago; Backpack: 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 edgeX live order book, 4 min ago	11.50 bp	16.0 bp −$16	16.7 bp −$167	doesn't fit	doesn't fit
Sell Backpack live order book, 4 min ago	0.34 bp	5.4 bp −$5	29.2 bp −$292	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	590.79	−0.104%	$45K	—	150x	as long as short
edgeX XMRUSDClong	+0.0100%	4h	591.40	long leg	$1.0M	$663K	10x
SunX XMR-USDT	+0.0100%	8h	591.60	+0.033%	$2K	$2.0M	20x	as long as short
Bybit XMRUSDT	+0.0128%	8h	592.39	+0.167%	$48.1M	$64.1M	75x	as long as short
Aevo XMR-PERP	+0.0160%	1h	591.89	+0.082%	$12K	—	3x	as long as short
MEXC XMR_USDT	+0.0328%	8h	592.26	+0.145%	$21.8M	$15.1M	100x	as long as short
Binance XMRUSDT	+0.0328%	8h	592.27	+0.147%	$54.2M	$165.7M	75x	as long as short
Lighter XMR	+0.0344%	1h	591.71	+0.052%	$3.3M	$7.2M	10x	as long as short
BingX XMR-USDT	+0.0428%	8h	592.55	+0.194%	—	$5.8M	—	as long as short
Backpack XMR_USDC_PERPshort	+0.0451%	1h	591.50	+0.016%	$201K	$580K	20x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget XMRUSDT	+0.0458%	8h	591.72	+0.054%	$9.7M	$14.6M	50x	as long as short
Kraken Futures PF_XMRUSD	+0.0465%	1h	590.79	−0.104%	$5.6M	$20.5M	50x	as long as short
BloFin XMR-USDT	+0.0473%	8h	591.74	+0.057%	$2.8M	$11.6M	75x	as long as short
Gate XMR_USDT	+0.0481%	8h	591.13	−0.046%	$1.7M	$4.6M	50x	as long as short
Pacifica XMR	+0.0565%	1h	592.27	+0.147%	$277K	$1.1M	10x	as long as short
KuCoin XMRUSDTM	+0.0570%	8h	591.48	+0.013%	$48.3M	$26.1M	50x	as long as short
Variational Omni XMR	+0.0578%	8h	591.90	+0.084%	$6.8M	$2.6M	—	as long as short
Aster XMRUSDT	+0.0595%	8h	591.48	+0.013%	$637K	$2.4M	75x	as long as short
GRVT XMR_USDT_Perp	+0.0610%	8h	591.29	−0.019%	$347K	$785K	10x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0870% / S −0.2452%	1h	590.47	−0.158%	$549K	—	100x	as long as short
Polymarket Perps XMR-USD	+0.0879%	1h	592.19	+0.133%	$52K	$1.9M	5x	as long as short
Paradex XMR-USD-PERP	+0.0896%	8h	591.93	+0.089%	$8K	$4K	20x	as long as short
Orderly PERP_XMR_USDC	+0.0959%	8h	591.75	+0.059%	$42K	$733K	10x	as long as short
SoDEX XMR-USD	+0.1046%	1h	591.93	+0.089%	$450K	$3K	5x	as long as short
Nado XMR-PERP	+0.1188%	1h	592.47	+0.180%	$1.3M	$470K	10x	as long as short
Injective XMR/USDC PERP	+0.1312%	1h	596.76	+0.906%	$3K	$6K	12x	as long as short
dYdX XMR-USD	+0.1736%	1h	590.08	−0.223%	$107K	$50K	5x	as long as short
Hyperliquid XMR	+0.1746%	1h	592.43	+0.174%	$89.4M	$71.9M	5x	as long as short
HTX XMR-USDT	+0.1770%	8h	590.96	−0.075%	$1.1M	$1.5M	20x	as long as short
Extended XMR-USD	+0.1984%	1h	592.15	+0.127%	$3.2M	$7.0M	25x	as long as short
Aftermath Perps XMRUSD	+0.2392%	1h	592.33	+0.157%	$2K	$46K	10x	as long as short