Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.1466%/8h= −160.5% APRpaid last 24h −0.070%

Price spread now: Bitget against Hyperliquid−0.112%7-day average +0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$490.491% of the position

Long on Hyperliquid Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.220%−$22 on $10k

Price spread, last 7 days+0.107%+$11 · spread now −0.112%, 7d avg +0.035%

Together, before fees−0.113%+ Points / potential airdropHyperliquid: Season 2 · farm board−$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$44 a day on $10k at the current rate, and Bitget is 0.147% cheaper against Hyperliquid than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of +0.035%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.220% in total (about -11.5% 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	598.30	0.1861	pay 0.0233% / 1h	41m 45s	$88.6M	$67.5M	5x
Short	Bitget XMRUSDT	597.63	0.0395	get 0.0395% / 8h	1h 41m	$10.0M	$14.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.112%Rate

Funding earned: −$307.83
Price spread: −0.112% → +0.035%: −$14.72
Slippage, 4 orders: −$28.14
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$371.7
Costs to cover: 0.491%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 12 min ago; Bitget: 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, 12 min ago	1.60 bp	9.3 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	5.02 bp	16.6 bp −$17	29.7 bp −$297	74.5 bp −$7,448	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	596.33	−0.329%	$44K	—	150x	as long as short
Bybit XMRUSDT	+0.0100%	8h	597.72	−0.097%	$48.4M	$61.4M	75x	as long as short
edgeX XMRUSDC	+0.0100%	4h	596.23	−0.346%	$1.1M	$667K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	597.05	−0.209%	$2K	$1.9M	20x	as long as short
Aevo XMR-PERP	+0.0168%	1h	593.77	−0.758%	$12K	—	3x	as long as short
Variational Omni XMR	+0.0246%	8h	597.79	−0.086%	$6.9M	$2.7M	—	as long as short
MEXC XMR_USDT	+0.0327%	8h	597.66	−0.107%	$22.4M	$15.0M	100x	as long as short
Binance XMRUSDT	+0.0331%	8h	597.90	−0.067%	$54.9M	$162.8M	75x	as long as short
BingX XMR-USDT	+0.0374%	8h	597.48	−0.137%	—	$5.7M	—	as long as short
Kraken Futures PF_XMRUSD	+0.0382%	1h	596.09	−0.370%	$5.7M	$20.4M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica XMR	+0.0387%	1h	597.15	−0.192%	$271K	$1.0M	10x	as long as short
Bitget XMRUSDTshort	+0.0395%	8h	597.63	−0.112%	$10.0M	$14.2M	50x
BloFin XMR-USDT	+0.0469%	8h	597.73	−0.095%	$2.8M	$11.5M	75x	as long as short
Gate XMR_USDT	+0.0486%	8h	596.54	−0.294%	$1.6M	$4.5M	50x	as long as short
Aster XMRUSDT	+0.0533%	8h	597.82	−0.080%	$672K	$2.3M	75x	as long as short
KuCoin XMRUSDTM	+0.0554%	8h	596.60	−0.284%	$48.8M	$25.8M	50x	as long as short
GRVT XMR_USDT_Perp	+0.0593%	8h	595.66	−0.441%	$354K	$785K	10x	as long as short
Injective XMR/USDC PERP	+0.0695%	1h	591.89	−1.071%	$3K	$6K	12x	as long as short
Polymarket Perps XMR-USD	+0.0749%	1h	597.26	−0.174%	$23K	$1.8M	5x	as long as short
Lighter XMR	+0.0800%	1h	597.48	−0.137%	$3.5M	$6.7M	10x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0823% / S −0.1341%	1h	596.16	−0.358%	$341K	—	100x	as long as short
Paradex XMR-USD-PERP	+0.0860%	8h	597.23	−0.179%	$8K	$4K	20x	as long as short
SoDEX XMR-USD	+0.0874%	1h	597.15	−0.192%	$454K	$3K	5x	as long as short
Orderly PERP_XMR_USDC	+0.0914%	8h	596.86	−0.241%	$48K	$720K	10x	as long as short
Backpack XMR_USDC_PERP	+0.0984%	1h	596.63	−0.279%	$203K	$575K	20x	as long as short
dYdX XMR-USD	+0.1368%	1h	595.30	−0.501%	$108K	$50K	5x	as long as short
Nado XMR-PERP	+0.1555%	1h	597.14	−0.193%	$1.3M	$480K	10x	as long as short
Extended XMR-USD	+0.1768%	1h	597.63	−0.111%	$3.1M	$6.8M	25x	as long as short
Hyperliquid XMRlong	+0.1861%	1h	598.30	long leg	$88.6M	$67.5M	5x
HTX XMR-USDT	+0.2118%	8h	594.96	−0.558%	$1.1M	$1.5M	20x	as long as short
Aftermath Perps XMRUSD	+0.2434%	1h	596.57	−0.289%	$2K	$47K	10x	as long as short