Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.1122%/8h= −122.9% APRpaid last 24h −0.016%

Price spread now: Binance against Hyperliquid−0.165%7-day average +0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$310.313% of the position

Long on Hyperliquid Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.106%−$11 on $10k

Price spread, last 7 days+0.170%+$17 · spread now −0.165%, 7d avg +0.041%

Together, before fees+0.064%+ Points / potential airdropHyperliquid: Season 2 · farm board+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$34 a day on $10k at the current rate, and Binance is 0.206% cheaper against Hyperliquid than usual: you would sell low and buy high (−$21 if the spread goes back to its 7-day average of +0.041%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.106% in total (about -5.5% 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	Hyperliquid XMR	594.04	0.1492	pay 0.0186% / 1h	41m 06s	$86.4M	$65.6M	5x
Short	Binance XMRUSDT	593.06	0.0369	get 0.0369% / 8h	2h 41m	$54.3M	$161.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Hyperliquid. 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 HyperliquidbpFee BinancebpOrdersPrice spread, now −0.165%Rate

Funding earned: −$235.72
Price spread: −0.165% → +0.041%: −$20.58
Slippage, 4 orders: −$12.34
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$287.64
Costs to cover: 0.313%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 13 min ago; Binance: live order book, 2 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 Hyperliquid live order book, 13 min ago	0.09 bp	4.6 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 2 min ago	0.08 bp	11.8 bp −$12	29.0 bp −$290	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	592.75	−0.217%	$45K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	591.89	−0.362%	$3K	$6K	12x	as long as short
Bybit XMRUSDT	+0.0100%	8h	592.68	−0.229%	$47.4M	$60.7M	75x	as long as short
Backpack XMR_USDC_PERP	+0.0100%	1h	592.60	−0.242%	$202K	$559K	20x	as long as short
edgeX XMRUSDC	+0.0100%	4h	591.02	−0.508%	$1.0M	$674K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	593.13	−0.153%	$2K	$1.9M	20x	as long as short
dYdX XMR-USD	+0.0102%	1h	592.66	−0.232%	$108K	$50K	5x	as long as short
SoDEX XMR-USD	+0.0127%	1h	593.24	−0.135%	$451K	$4K	5x	as long as short
Lighter XMR	+0.0128%	1h	593.14	−0.152%	$3.5M	$6.6M	10x	as long as short
Polymarket Perps XMR-USD	+0.0140%	1h	593.61	−0.072%	$24K	$1.8M	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo XMR-PERP	+0.0176%	1h	593.69	−0.059%	$12K	—	3x	as long as short
Variational Omni XMR	+0.0310%	8h	591.13	−0.489%	$6.9M	$2.8M	—	as long as short
Gate XMR_USDT	+0.0339%	8h	592.62	−0.239%	$1.6M	$4.5M	50x	as long as short
Binance XMRUSDTshort	+0.0369%	8h	593.06	−0.165%	$54.3M	$161.7M	75x
MEXC XMR_USDT	+0.0371%	8h	593.29	−0.126%	$22.6M	$15.2M	100x	as long as short
BingX XMR-USDT	+0.0376%	8h	592.95	−0.183%	—	$5.8M	—	as long as short
Bitget XMRUSDT	+0.0392%	8h	592.92	−0.189%	$9.8M	$14.0M	50x	as long as short
BloFin XMR-USDT	+0.0521%	8h	593.54	−0.084%	$2.8M	$11.3M	75x	as long as short
Aster XMRUSDT	+0.0554%	8h	593.33	−0.120%	$669K	$2.3M	75x	as long as short
Kraken Futures PF_XMRUSD	+0.0614%	1h	592.33	−0.288%	$5.6M	$20.3M	50x	as long as short
GRVT XMR_USDT_Perp	+0.0617%	8h	590.89	−0.531%	$344K	$796K	10x	as long as short
Pacifica XMR	+0.0619%	1h	593.02	−0.172%	$269K	$1.0M	10x	as long as short
KuCoin XMRUSDTM	+0.0621%	8h	593.12	−0.155%	$49.3M	$25.4M	50x	as long as short
Paradex XMR-USD-PERP	+0.0729%	8h	592.71	−0.223%	$8K	$4K	20x	as long as short
Nado XMR-PERP	+0.0787%	1h	593.55	−0.083%	$1.3M	$477K	10x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0841% / S −0.1411%	1h	592.73	−0.220%	$352K	—	100x	as long as short
Orderly PERP_XMR_USDC	+0.0867%	8h	593.13	−0.153%	$48K	$729K	10x	as long as short
Extended XMR-USD	+0.1056%	1h	593.13	−0.154%	$3.1M	$6.8M	25x	as long as short
Hyperliquid XMRlong	+0.1492%	1h	594.04	long leg	$86.4M	$65.6M	5x
Aftermath Perps XMRUSD	+0.2284%	1h	592.68	−0.230%	$2K	$47K	10x	as long as short
HTX XMR-USDT	+0.2389%	8h	591.25	−0.470%	$1.1M	$1.4M	20x	as long as short