Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0209%/8h= −22.9% APRpaid last 24h −0.080%

Price spread now: BloFin against Hyperliquid+0.072%7-day average +0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$390.388% of the position

Long on Hyperliquid Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.125%+$12 on $10k

Price spread, last 4 days (all we have)+0.041%+$4 · spread now +0.072%, 7d avg +0.034%

Together, before fees+0.166%+ Points / potential airdropHyperliquid: Season 2 · farm board+$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.038% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.072% now, against its 7-day average of +0.034%): +$4 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 14 hours. Mind the row above: over the last 7 days funding on this pair paid +0.125%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.125% in total (about 6.5% 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	570.37	0.1206	pay 0.0151% / 1h	41m 19s	$86.0M	$71.4M	5x
Short	BloFin XMR-USDT	570.78	0.0997	get 0.0997% / 8h	2h 41m	$2.7M	$11.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.072%Rate

Funding earned: −$43.9
Price spread: +0.072% → +0.034%: $3.76
Slippage, 4 orders: −$17.81
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$78.96
Costs to cover: 0.388%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 12 min ago; BloFin: 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	0.35 bp	9.6 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 2 min ago	0.35 bp	12.2 bp −$12	20.7 bp −$207	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 −0.0003%	1h	569.31	−0.186%	$37K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	582.55	+2.135%	$3K	$3K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	571.22	+0.150%	$1.0M	$642K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	569.73	−0.112%	$2K	$1.9M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	570.65	+0.049%	$1.1M	$1.6M	20x	as long as short
Aevo XMR-PERP	+0.0232%	1h	570.70	+0.058%	$12K	—	3x	as long as short
KuCoin XMRUSDTM	+0.0295%	8h	569.77	−0.105%	$44.7M	$26.5M	50x	as long as short
Bitget XMRUSDT	+0.0563%	8h	570.48	+0.019%	$9.4M	$13.3M	50x	as long as short
MEXC XMR_USDT	+0.0606%	8h	570.41	+0.007%	$19.7M	$14.6M	100x	as long as short
Binance XMRUSDT	+0.0606%	8h	570.40	+0.006%	$52.2M	$161.7M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate XMR_USDT	+0.0609%	8h	570.33	−0.007%	$1.5M	$4.3M	50x	as long as short
dYdX XMR-USD	+0.0642%	1h	569.32	−0.185%	$103K	$44K	5x	as long as short
BingX XMR-USDT	+0.0673%	8h	570.42	+0.009%	—	$5.7M	—	as long as short
Bybit XMRUSDT	+0.0711%	8h	570.30	−0.012%	$46.2M	$64.3M	75x	as long as short
Kraken Futures PF_XMRUSD	+0.0752%	1h	569.18	−0.209%	$5.4M	$19.1M	50x	as long as short
Aster XMRUSDT	+0.0753%	8h	570.33	−0.008%	$639K	$2.3M	75x	as long as short
Extended XMR-USD	+0.0768%	1h	570.25	−0.021%	$3.0M	$8.2M	25x	as long as short
Polymarket Perps XMR-USD	+0.0779%	1h	570.23	−0.025%	$28K	$2.2M	5x	as long as short
Paradex XMR-USD-PERP	+0.0884%	8h	570.49	+0.021%	$8K	$4K	20x	as long as short
Pacifica XMR	+0.0912%	1h	570.45	+0.014%	$264K	$1.0M	10x	as long as short
BloFin XMR-USDTshort	+0.0997%	8h	570.78	+0.072%	$2.7M	$11.1M	75x
GRVT XMR_USDT_Perp	+0.1005%	8h	571.24	+0.153%	$330K	$728K	10x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.1036% / S −0.1358%	1h	569.21	−0.203%	$589K	—	100x	as long as short
Lighter XMR	+0.1088%	1h	570.40	+0.005%	$3.1M	$7.5M	10x	as long as short
Orderly PERP_XMR_USDC	+0.1186%	8h	570.28	−0.016%	$40K	$714K	10x	as long as short
Variational Omni XMR	+0.1188%	8h	571.45	+0.190%	$6.3M	$2.3M	—	as long as short
Hyperliquid XMRlong	+0.1206%	1h	570.37	long leg	$86.0M	$71.4M	5x
SoDEX XMR-USD	+0.1357%	1h	570.48	+0.019%	$434K	$3K	5x	as long as short
Backpack XMR_USDC_PERP	+0.1407%	1h	570.67	+0.053%	$168K	$534K	20x	as long as short
Nado XMR-PERP	+0.1488%	1h	570.34	−0.005%	$1.3M	$455K	10x	as long as short
Aftermath Perps XMRUSD	+0.2101%	1h	570.33	−0.007%	$1K	$43K	10x	as long as short