Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.1008%/8h= +110.4% APRpaid last 24h +0.322%

Price spread now: Orderly against Injective−1.600%7-day average — · you buy dearer than you sell

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

Long on Injective Short on Orderly

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

Funding pays, the price is against you. Orderly is 1.600% cheaper against Injective than usual: you would sell low and buy high (spread −1.600% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$160 on $10k: about 5.3 days of funding at the current rate (+$30 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective XMR/USDC PERP	596.76	0.0033	pay 0.0004% / 1h	13m 07s	$3K	$4K	12x
Short	Orderly PERP_XMR_USDC	587.21	0.1042	get 0.1042% / 8h	7h 13m	$42K	$739K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −1.600%Rate

Funding earned: $211.73
Price spread: −1.600% → 0.000%: −$160.03
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Orderly: 3 bp × 2 orders: −$6
Net: $45.68
Costs to cover: 0.060%
Break-even: 5.5 days

Slippage unknown: Injective: no order-book sample; Orderly: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—

Injective and Orderly: 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
gTrade (Gains Network) XMR/USD	L +0.0010% / S −0.0009%	1h	586.04	−1.796%	$45K	—	150x	as long as short
Injective XMR/USDC PERPlong	+0.0033%	1h	596.76	long leg	$3K	$4K	12x
edgeX XMRUSDC	+0.0100%	4h	587.78	−1.506%	$1.0M	$663K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	586.76	−1.676%	$2K	$2.0M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	586.74	−1.679%	$1.1M	$1.6M	20x	as long as short
dYdX XMR-USD	+0.0104%	1h	586.42	−1.733%	$106K	$50K	5x	as long as short
Aevo XMR-PERP	+0.0184%	1h	587.78	−1.504%	$12K	—	3x	as long as short
MEXC XMR_USDT	+0.0427%	8h	587.38	−1.572%	$21.3M	$15.3M	100x	as long as short
Binance XMRUSDT	+0.0428%	8h	587.29	−1.587%	$53.6M	$167.1M	75x	as long as short
Bitget XMRUSDT	+0.0554%	8h	587.20	−1.602%	$9.6M	$14.5M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin XMR-USDT	+0.0619%	8h	587.33	−1.580%	$2.8M	$11.5M	75x	as long as short
Aster XMRUSDT	+0.0620%	8h	586.60	−1.703%	$650K	$2.5M	75x	as long as short
Kraken Futures PF_XMRUSD	+0.0649%	1h	586.17	−1.774%	$5.6M	$20.5M	50x	as long as short
Pacifica XMR	+0.0659%	1h	587.21	−1.600%	$278K	$1.1M	10x	as long as short
KuCoin XMRUSDTM	+0.0722%	8h	587.38	−1.572%	$48.1M	$26.1M	50x	as long as short
Gate XMR_USDT	+0.0727%	8h	586.46	−1.726%	$1.6M	$4.6M	50x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0869% / S −0.2458%	1h	585.88	−1.823%	$546K	—	100x	as long as short
Variational Omni XMR	+0.0884%	8h	587.59	−1.536%	$6.7M	$2.6M	—	as long as short
GRVT XMR_USDT_Perp	+0.0902%	8h	587.78	−1.505%	$347K	$792K	10x	as long as short
Backpack XMR_USDC_PERP	+0.0980%	1h	586.69	−1.687%	$184K	$535K	20x	as long as short
Orderly PERP_XMR_USDCshort	+0.1042%	8h	587.21	−1.600%	$42K	$739K	10x
BingX XMR-USDT	+0.1111%	8h	587.32	−1.582%	—	$5.8M	—	as long as short
Polymarket Perps XMR-USD	+0.1123%	1h	587.25	−1.594%	$46K	$1.9M	5x	as long as short
Bybit XMRUSDT	+0.1186%	8h	587.51	−1.550%	$47.3M	$64.8M	75x	as long as short
Lighter XMR	+0.1208%	1h	587.19	−1.603%	$3.3M	$7.2M	10x	as long as short
SoDEX XMR-USD	+0.1248%	1h	587.36	−1.575%	$446K	$3K	5x	as long as short
Paradex XMR-USD-PERP	+0.1271%	8h	587.24	−1.596%	$8K	$4K	20x	as long as short
Nado XMR-PERP	+0.1409%	1h	587.40	−1.568%	$1.3M	$465K	10x	as long as short
Hyperliquid XMR	+0.1938%	1h	587.30	−1.585%	$89.1M	$73.1M	5x	as long as short
Extended XMR-USD	+0.2456%	1h	587.34	−1.579%	$3.1M	$8.0M	25x	as long as short
Aftermath Perps XMRUSD	+0.2651%	1h	587.52	−1.549%	$1K	$46K	10x	as long as short