Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0936%/8h= +102.5% APRpaid last 24h −0.402%

Price spread now: Backpack against HTX−0.051%7-day average +0.233% · you buy dearer than you sell

Net, funding: paid 7d − costs−$226as in the Funding arb table

Net, price: spread back to 7d avg − costs−$127as in the Price arb table

costs, in and out, $10k−$990.989% of the position

Long on HTX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−1.268%−$127 on $10k

Price spread, last 3 days (all we have)+0.601%+$60 · spread now −0.051%, 7d avg +0.233%

Together, before fees−0.666%−$67 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.284% cheaper against HTX than usual: you would sell low and buy high (spread −0.051% now, against its 7-day average of +0.233%). If the spread goes back, that is −$28 on $10k: about 24 hours of funding at the current rate (+$28 a day). Mind the row above: over the last 7 days funding on this pair cost −1.268%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XMR-USDT	590.54	0.0100	pay 0.0100% / 8h	7h 20m	$1.1M	$1.6M	20x
Short	Backpack XMR_USDC_PERP	590.24	0.1036	get 0.0130% / 1h	20m 31s	$200K	$527K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against HTX. 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 HTXbpFee BackpackbpOrdersPrice spread, now −0.051%Rate

Funding earned: $196.61
Price spread: −0.051% → +0.233%: −$28.36
Slippage, 4 orders: −$76.89
Fee HTX: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: $69.37
Costs to cover: 0.989%
Break-even: 4.5 days

Slippage from HTX: live order book, 3 min ago; Backpack: live order book, 53 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 HTX live order book, 3 min ago	13.82 bp	35.6 bp −$36	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 53 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	589.72	−0.140%	$45K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	596.76	+1.053%	$3K	$4K	12x	as long as short
dYdX XMR-USD	+0.0060%	1h	590.31	−0.040%	$107K	$50K	5x	as long as short
edgeX XMRUSDC	+0.0100%	4h	591.62	+0.183%	$1.1M	$660K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	590.29	−0.042%	$2K	$2.0M	20x	as long as short
HTX XMR-USDTlong	+0.0100%	8h	590.54	long leg	$1.1M	$1.6M	20x
Aevo XMR-PERP	+0.0192%	1h	590.82	+0.047%	$12K	—	3x	as long as short
MEXC XMR_USDT	+0.0429%	8h	591.55	+0.171%	$21.4M	$15.3M	100x	as long as short
Binance XMRUSDT	+0.0430%	8h	591.41	+0.148%	$54.0M	$166.9M	75x	as long as short
Bitget XMRUSDT	+0.0546%	8h	591.54	+0.169%	$9.7M	$14.4M	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	+0.022%	$2.7M	$11.6M	75x	as long as short
Aster XMRUSDT	+0.0628%	8h	590.83	+0.048%	$658K	$2.5M	75x	as long as short
Kraken Futures PF_XMRUSD	+0.0645%	1h	589.75	−0.134%	$5.6M	$20.5M	50x	as long as short
Pacifica XMR	+0.0659%	1h	591.42	+0.149%	$278K	$1.1M	10x	as long as short
KuCoin XMRUSDTM	+0.0696%	8h	591.03	+0.083%	$48.5M	$26.0M	50x	as long as short
Gate XMR_USDT	+0.0829%	8h	590.99	+0.076%	$1.6M	$4.6M	50x	as long as short
Variational Omni XMR	+0.0867%	8h	591.04	+0.084%	$6.8M	$2.6M	—	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0871% / S −0.2458%	1h	589.75	−0.134%	$550K	—	100x	as long as short
Backpack XMR_USDC_PERPshort	+0.1036%	1h	590.24	−0.051%	$200K	$527K	20x
Orderly PERP_XMR_USDC	+0.1041%	8h	590.73	+0.032%	$42K	$739K	10x	as long as short
GRVT XMR_USDT_Perp	+0.1084%	8h	592.83	+0.387%	$350K	$792K	10x	as long as short
Polymarket Perps XMR-USD	+0.1153%	1h	591.38	+0.142%	$48K	$1.9M	5x	as long as short
BingX XMR-USDT	+0.1174%	8h	591.58	+0.176%	—	$5.8M	—	as long as short
Bybit XMRUSDT	+0.1201%	8h	591.71	+0.198%	$47.7M	$64.6M	75x	as long as short
SoDEX XMR-USD	+0.1235%	1h	590.85	+0.052%	$449K	$3K	5x	as long as short
Paradex XMR-USD-PERP	+0.1267%	8h	591.15	+0.104%	$8K	$4K	20x	as long as short
Lighter XMR	+0.1272%	1h	591.38	+0.142%	$3.3M	$7.1M	10x	as long as short
Nado XMR-PERP	+0.1419%	1h	591.49	+0.161%	$1.3M	$466K	10x	as long as short
Hyperliquid XMR	+0.2017%	1h	591.95	+0.239%	$90.0M	$72.8M	5x	as long as short
Extended XMR-USD	+0.2512%	1h	591.33	+0.134%	$3.2M	$7.9M	25x	as long as short
Aftermath Perps XMRUSD	+0.2629%	1h	591.70	+0.196%	$1K	$46K	10x	as long as short