Funding arb · Price arb /

XMR

all XMR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0266%/8h= +29.1% APRpaid last 24h −0.018%

Price spread now: BloFin against Kraken Futures+0.118%7-day average +0.184% · you sell dearer than you buy

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$560.562% of the position

Long on Kraken Futures Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.051%+$5 on $10k

Price spread, last 4 days (all we have)+0.073%+$7 · spread now +0.118%, 7d avg +0.184%

Together, before fees+0.124%+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.066% cheaper against Kraken Futures than usual: you would sell low and buy high (spread +0.118% now, against its 7-day average of +0.184%). If the spread goes back, that is −$7 on $10k: about 20 hours of funding at the current rate (+$8 a day). At the pace of the last 7 days (+0.051% in total) that is about 9.1 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.051% in total (about 2.6% 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	Kraken Futures PF_XMRUSD	573.35	0.0747	pay 0.0093% / 1h	34m 31s	$5.4M	$19.1M	50x
Short	BloFin XMR-USDT	574.03	0.1013	get 0.1013% / 8h	2h 34m	$2.7M	$11.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Kraken Futures. 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 Kraken FuturesbpFee BloFinbpOrdersPrice spread, now +0.118%Rate

Funding earned: $55.83
Price spread: +0.118% → +0.184%: −$6.58
Slippage, 4 orders: −$34.22
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$6.96
Costs to cover: 0.562%
Break-even: 7.9 days

Slippage from Kraken Futures: live order book, 5 min ago; BloFin: live order book, 4 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 Kraken Futures live order book, 5 min ago	4.47 bp	9.6 bp −$10	22.6 bp −$226	106.3 bp −$10.6K	doesn't fit
Sell BloFin live order book, 4 min ago	2.80 bp	15.5 bp −$15	23.4 bp −$234	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	572.70	−0.113%	$37K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	582.55	+1.604%	$3K	$3K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	571.71	−0.287%	$1.0M	$643K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	573.59	+0.042%	$2K	$1.9M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	573.00	−0.061%	$1.1M	$1.6M	20x	as long as short
Aevo XMR-PERP	+0.0232%	1h	573.95	+0.104%	$12K	—	3x	as long as short
KuCoin XMRUSDTM	+0.0314%	8h	572.10	−0.218%	$44.9M	$26.2M	50x	as long as short
dYdX XMR-USD	+0.0493%	1h	571.62	−0.303%	$104K	$44K	5x	as long as short
Bitget XMRUSDT	+0.0575%	8h	572.53	−0.143%	$9.4M	$13.3M	50x	as long as short
MEXC XMR_USDT	+0.0616%	8h	572.85	−0.087%	$19.7M	$14.6M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance XMRUSDT	+0.0616%	8h	572.59	−0.132%	$52.4M	$161.2M	75x	as long as short
Gate XMR_USDT	+0.0625%	8h	572.51	−0.147%	$1.5M	$4.3M	50x	as long as short
BingX XMR-USDT	+0.0672%	8h	572.65	−0.122%	—	$5.7M	—	as long as short
Bybit XMRUSDT	+0.0716%	8h	572.25	−0.192%	$46.4M	$64.3M	75x	as long as short
Kraken Futures PF_XMRUSDlong	+0.0747%	1h	573.35	long leg	$5.4M	$19.1M	50x
Extended XMR-USD	+0.0768%	1h	572.51	−0.148%	$3.0M	$8.2M	25x	as long as short
Aster XMRUSDT	+0.0769%	8h	572.81	−0.094%	$642K	$2.2M	75x	as long as short
Polymarket Perps XMR-USD	+0.0779%	1h	573.46	+0.019%	$28K	$2.2M	5x	as long as short
Pacifica XMR	+0.0912%	1h	572.74	−0.107%	$265K	$1.0M	10x	as long as short
Paradex XMR-USD-PERP	+0.0936%	8h	572.70	−0.113%	$8K	$4K	20x	as long as short
GRVT XMR_USDT_Perp	+0.1007%	8h	571.95	−0.245%	$330K	$728K	10x	as long as short
BloFin XMR-USDTshort	+0.1013%	8h	574.03	+0.118%	$2.7M	$11.2M	75x
Lighter XMR	+0.1024%	1h	572.82	−0.093%	$3.1M	$7.5M	10x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.1057% / S −0.1398%	1h	572.59	−0.133%	$592K	—	100x	as long as short
Orderly PERP_XMR_USDC	+0.1186%	8h	574.04	+0.120%	$40K	$713K	10x	as long as short
Variational Omni XMR	+0.1193%	8h	571.73	−0.283%	$6.3M	$2.3M	—	as long as short
Hyperliquid XMR	+0.1215%	1h	573.06	−0.051%	$86.4M	$70.9M	5x	as long as short
Backpack XMR_USDC_PERP	+0.1372%	1h	573.89	+0.094%	$169K	$532K	20x	as long as short
Nado XMR-PERP	+0.1378%	1h	572.52	−0.145%	$1.3M	$455K	10x	as long as short
SoDEX XMR-USD	+0.1415%	1h	574.43	+0.188%	$437K	$3K	5x	as long as short
Aftermath Perps XMRUSD	+0.2105%	1h	571.51	−0.321%	$1K	$43K	10x	as long as short