Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.1597%/8h= −174.9% APRpaid last 24h −0.199%

Price spread now: edgeX against Hyperliquid+0.351%66s7-day average +0.046% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Hyperliquid Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.469%−$47 on $10k

Price spread, last 3 days (all we have)+0.195%+$20 · spread now +0.351%, 7d avg +0.046%

Together, before fees−0.274%+ Points / potential airdropHyperliquid: Season 2 · edgeX: Active · farm board−$27 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.305% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.351% now, against its 7-day average of +0.046%): +$30 on $10k if it goes back. Holding the pair costs −$48 a day in funding at the current rate, which eats that in about 15 hours. At the pace of the last 7 days (−0.469% in total) that is about 4.5 days. The two prices were read 66 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 -0.469% in total (about -24.5% 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	595.17	0.1697	pay 0.0212% / 1h	54m 24s	$87.7M	$67.0M	5x
Short	edgeX XMRUSDC	597.26	0.0100	get 0.0050% / 4h	1h 54m	$1.1M	$664K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.351%Rate

Funding earned: −$335.42
Price spread: +0.351% → +0.046%: $30.46
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$322.96
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: Hyperliquid: live order book, 9 min ago; edgeX: live order book, 4 min ago. Net counts fees only.

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, 9 min ago	0.84 bp	7.3 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 4 min ago	10.79 bp	15.3 bp −$15	16.0 bp −$160	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	593.41	−0.295%	$44K	—	150x	as long as short
Bybit XMRUSDT	+0.0100%	8h	594.30	−0.146%	$48.1M	$61.4M	75x	as long as short
edgeX XMRUSDCshort	+0.0100%	4h	597.26	+0.351%	$1.1M	$664K	10x
SunX XMR-USDT	+0.0100%	8h	595.49	+0.054%	$2K	$1.9M	20x	as long as short
Aevo XMR-PERP	+0.0168%	1h	596.33	+0.195%	$12K	—	3x	as long as short
Variational Omni XMR	+0.0250%	8h	595.91	+0.124%	$6.9M	$2.7M	—	as long as short
Binance XMRUSDT	+0.0332%	8h	593.83	−0.225%	$54.5M	$162.6M	75x	as long as short
MEXC XMR_USDT	+0.0333%	8h	594.34	−0.139%	$22.6M	$14.9M	100x	as long as short
BingX XMR-USDT	+0.0369%	8h	594.38	−0.133%	—	$5.8M	—	as long as short
Kraken Futures PF_XMRUSD	+0.0383%	1h	595.09	−0.014%	$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	595.04	−0.023%	$270K	$1.0M	10x	as long as short
Bitget XMRUSDT	+0.0392%	8h	594.74	−0.072%	$9.9M	$14.2M	50x	as long as short
Gate XMR_USDT	+0.0444%	8h	593.12	−0.344%	$1.6M	$4.5M	50x	as long as short
BloFin XMR-USDT	+0.0478%	8h	595.88	+0.119%	$2.8M	$11.4M	75x	as long as short
Lighter XMR	+0.0520%	1h	594.94	−0.038%	$3.5M	$6.7M	10x	as long as short
Aster XMRUSDT	+0.0529%	8h	594.38	−0.133%	$673K	$2.3M	75x	as long as short
Polymarket Perps XMR-USD	+0.0549%	1h	594.77	−0.067%	$24K	$1.8M	5x	as long as short
KuCoin XMRUSDTM	+0.0578%	8h	594.49	−0.114%	$48.8M	$25.7M	50x	as long as short
GRVT XMR_USDT_Perp	+0.0594%	8h	597.78	+0.439%	$348K	$782K	10x	as long as short
Injective XMR/USDC PERP	+0.0695%	1h	591.89	−0.551%	$3K	$6K	12x	as long as short
SoDEX XMR-USD	+0.0824%	1h	596.13	+0.161%	$453K	$3K	5x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0842% / S −0.1415%	1h	593.30	−0.314%	$354K	—	100x	as long as short
Paradex XMR-USD-PERP	+0.0857%	8h	594.99	−0.030%	$8K	$4K	20x	as long as short
Orderly PERP_XMR_USDC	+0.0886%	8h	594.35	−0.138%	$48K	$718K	10x	as long as short
Backpack XMR_USDC_PERP	+0.1017%	1h	595.37	+0.034%	$202K	$574K	20x	as long as short
dYdX XMR-USD	+0.1347%	1h	594.49	−0.114%	$108K	$50K	5x	as long as short
Extended XMR-USD	+0.1616%	1h	595.04	−0.022%	$3.1M	$6.8M	25x	as long as short
Hyperliquid XMRlong	+0.1697%	1h	595.17	long leg	$87.7M	$67.0M	5x
Nado XMR-PERP	+0.1809%	1h	594.57	−0.101%	$1.3M	$479K	10x	as long as short
HTX XMR-USDT	+0.2192%	8h	595.00	−0.029%	$1.1M	$1.5M	20x	as long as short
Aftermath Perps XMRUSD	+0.2456%	1h	595.55	+0.063%	$2K	$47K	10x	as long as short