Funding arb · Price arb /

XMR

all XMR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.046%

Price spread now: Bybit against Injective+6.700%48s7-day average — · you sell dearer than you buy

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

Long on Injective Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Bybit is 6.700% dearer against Injective than usual: you sell high and buy low: +$670 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective XMR/USDC PERP	554.47	0.0033	pay 0.0004% / 1h	48m 29s	$3K	$5K	12x
Short	Bybit XMRUSDT	591.62	0.0100	get 0.0100% / 8h	2h 48m	$47.3M	$60.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Injective. 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 InjectivebpFee BybitbpOrdersPrice spread, now +6.700%Rate

Funding earned: $14
Price spread: +6.700% → 0.000%: $670.01
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $672.99
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Bybit: live order book, 5 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 Injective no order-book sample	—	—	—	—	—
Sell Bybit live order book, 5 min ago	0.85 bp	11.3 bp −$11	24.9 bp −$249	doesn't fit	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
dYdX XMR-USD	0.0000%	1h	590.62	+6.520%	$107K	$49K	5x	as long as short
gTrade (Gains Network) XMR/USD	L +0.0010% / S −0.0009%	1h	591.68	+6.710%	$45K	—	150x	as long as short
Injective XMR/USDC PERPlong	+0.0033%	1h	554.47	long leg	$3K	$5K	12x
Bybit XMRUSDTshort	+0.0100%	8h	591.62	+6.700%	$47.3M	$60.6M	75x
Backpack XMR_USDC_PERP	+0.0100%	1h	591.20	+6.624%	$204K	$558K	20x	as long as short
edgeX XMRUSDC	+0.0100%	4h	590.27	+6.457%	$1.0M	$672K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	591.19	+6.623%	$2K	$1.9M	20x	as long as short
SoDEX XMR-USD	+0.0100%	1h	591.91	+6.752%	$450K	$4K	5x	as long as short
Polymarket Perps XMR-USD	+0.0127%	1h	592.17	+6.799%	$24K	$1.8M	5x	as long as short
Lighter XMR	+0.0136%	1h	591.87	+6.746%	$3.5M	$6.6M	10x	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	591.99	+6.768%	$12K	—	3x	as long as short
Gate XMR_USDT	+0.0319%	8h	591.51	+6.680%	$1.6M	$4.5M	50x	as long as short
Variational Omni XMR	+0.0320%	8h	591.40	+6.660%	$6.9M	$2.8M	—	as long as short
Binance XMRUSDT	+0.0377%	8h	592.17	+6.799%	$54.3M	$161.8M	75x	as long as short
MEXC XMR_USDT	+0.0380%	8h	591.94	+6.758%	$22.7M	$15.2M	100x	as long as short
BingX XMR-USDT	+0.0390%	8h	592.07	+6.781%	—	$5.8M	—	as long as short
Bitget XMRUSDT	+0.0399%	8h	591.95	+6.760%	$9.8M	$13.9M	50x	as long as short
BloFin XMR-USDT	+0.0533%	8h	591.95	+6.760%	$2.8M	$11.3M	75x	as long as short
Aster XMRUSDT	+0.0563%	8h	592.15	+6.796%	$668K	$2.4M	75x	as long as short
Kraken Futures PF_XMRUSD	+0.0615%	1h	590.99	+6.586%	$5.6M	$20.3M	50x	as long as short
Pacifica XMR	+0.0619%	1h	592.15	+6.796%	$268K	$1.0M	10x	as long as short
KuCoin XMRUSDTM	+0.0620%	8h	591.98	+6.765%	$49.2M	$25.4M	50x	as long as short
GRVT XMR_USDT_Perp	+0.0641%	8h	591.83	+6.738%	$347K	$798K	10x	as long as short
Nado XMR-PERP	+0.0696%	1h	592.00	+6.768%	$1.3M	$477K	10x	as long as short
Paradex XMR-USD-PERP	+0.0730%	8h	592.34	+6.831%	$8K	$4K	20x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0840% / S −0.1411%	1h	591.45	+6.669%	$352K	—	100x	as long as short
Orderly PERP_XMR_USDC	+0.0867%	8h	591.87	+6.745%	$48K	$729K	10x	as long as short
Extended XMR-USD	+0.1056%	1h	592.00	+6.769%	$3.1M	$6.8M	25x	as long as short
Hyperliquid XMR	+0.1472%	1h	592.96	+6.941%	$86.0M	$65.1M	5x	as long as short
Aftermath Perps XMRUSD	+0.2236%	1h	591.15	+6.615%	$1K	$47K	10x	as long as short
HTX XMR-USDT	+0.2302%	8h	589.96	+6.401%	$1.1M	$1.4M	20x	as long as short