Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.1909%/8h= +209.0% APRpaid last 24h +0.254%

Price spread now: Hyperliquid against edgeX−0.292%106s7-day average −0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs+$8as 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−$450.450% of the position

Long on edgeX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.531%+$53 on $10k

Price spread, last 3 days (all we have)−0.007%−$1 · spread now −0.292%, 7d avg −0.033%

Together, before fees+0.525%+ Points / potential airdropedgeX: Active · Hyperliquid: Season 2 · farm board+$52 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.259% cheaper against edgeX than usual: you would sell low and buy high (spread −0.292% now, against its 7-day average of −0.033%). If the spread goes back, that is −$26 on $10k: about 11 hours of funding at the current rate (+$57 a day). At the pace of the last 7 days (+0.531% in total) that is about 3.4 days. The two prices were read 106 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 0.531% in total (about 27.7% 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	edgeX XMRUSDC	591.62	0.0100	pay 0.0050% / 4h	3h 19m	$1.1M	$660K	10x
Short	Hyperliquid XMR	589.89	0.2009	get 0.0251% / 1h	19m 43s	$89.5M	$72.9M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against edgeX. 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 edgeXbpFee HyperliquidbpOrdersPrice spread, now −0.292%Rate

Funding earned: $400.8
Price spread: −0.292% → −0.033%: −$25.92
Slippage, 4 orders: −$26.97
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $329.9
Costs to cover: 0.450%
Break-even: 1.2 days

Slippage from edgeX: live order book, 4 min ago; Hyperliquid: 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	10.15 bp	14.7 bp −$15	15.4 bp −$154	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 4 min ago	0.09 bp	8.0 bp −$8	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	590.02	−0.271%	$45K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	596.76	+0.869%	$3K	$4K	12x	as long as short
dYdX XMR-USD	+0.0058%	1h	588.44	−0.537%	$107K	$50K	5x	as long as short
edgeX XMRUSDClong	+0.0100%	4h	591.62	long leg	$1.1M	$660K	10x
SunX XMR-USDT	+0.0100%	8h	590.78	−0.142%	$2K	$2.0M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	590.54	−0.182%	$1.1M	$1.6M	20x	as long as short
Aevo XMR-PERP	+0.0192%	1h	591.24	−0.065%	$12K	—	3x	as long as short
MEXC XMR_USDT	+0.0429%	8h	590.31	−0.221%	$21.4M	$15.3M	100x	as long as short
Binance XMRUSDT	+0.0430%	8h	589.75	−0.317%	$53.8M	$166.9M	75x	as long as short
Bitget XMRUSDT	+0.0546%	8h	589.86	−0.297%	$9.7M	$14.5M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin XMR-USDT	+0.0619%	8h	590.67	−0.161%	$2.7M	$11.6M	75x	as long as short
Aster XMRUSDT	+0.0628%	8h	590.59	−0.174%	$657K	$2.5M	75x	as long as short
Kraken Futures PF_XMRUSD	+0.0645%	1h	589.96	−0.281%	$5.6M	$20.5M	50x	as long as short
Pacifica XMR	+0.0659%	1h	591.42	−0.034%	$278K	$1.1M	10x	as long as short
KuCoin XMRUSDTM	+0.0696%	8h	590.82	−0.135%	$48.5M	$26.0M	50x	as long as short
Gate XMR_USDT	+0.0829%	8h	589.81	−0.306%	$1.6M	$4.6M	50x	as long as short
Variational Omni XMR	+0.0867%	8h	591.04	−0.098%	$6.8M	$2.6M	—	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0872% / S −0.2458%	1h	589.90	−0.290%	$550K	—	100x	as long as short
Backpack XMR_USDC_PERP	+0.1027%	1h	590.46	−0.196%	$200K	$527K	20x	as long as short
Orderly PERP_XMR_USDC	+0.1042%	8h	590.87	−0.127%	$42K	$739K	10x	as long as short
GRVT XMR_USDT_Perp	+0.1084%	8h	592.83	+0.204%	$350K	$792K	10x	as long as short
Polymarket Perps XMR-USD	+0.1153%	1h	591.38	−0.041%	$48K	$1.9M	5x	as long as short
Bybit XMRUSDT	+0.1169%	8h	589.82	−0.304%	$47.6M	$64.6M	75x	as long as short
BingX XMR-USDT	+0.1174%	8h	589.72	−0.321%	—	$5.8M	—	as long as short
SoDEX XMR-USD	+0.1219%	1h	591.01	−0.103%	$449K	$3K	5x	as long as short
Lighter XMR	+0.1232%	1h	589.50	−0.359%	$3.3M	$7.1M	10x	as long as short
Paradex XMR-USD-PERP	+0.1267%	8h	591.15	−0.079%	$8K	$4K	20x	as long as short
Nado XMR-PERP	+0.1419%	1h	591.49	−0.022%	$1.3M	$466K	10x	as long as short
Hyperliquid XMRshort	+0.2009%	1h	589.89	−0.292%	$89.5M	$72.9M	5x
Extended XMR-USD	+0.2496%	1h	591.09	−0.090%	$3.2M	$7.9M	25x	as long as short
Aftermath Perps XMRUSD	+0.2629%	1h	591.70	+0.013%	$1K	$46K	10x	as long as short