Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.1206%/8h= +132.1% APRpaid last 24h +0.127%

Price spread now: Hyperliquid against KuCoin+0.159%7-day average +0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$630.633% of the position

Long on KuCoin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.262%+$26 on $10k

Price spread, last 7 days−0.164%−$16 · spread now +0.159%, 7d avg +0.034%

Together, before fees+0.097%+ Points / potential airdropHyperliquid: Season 2 · farm board+$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$36 a day on $10k at the current rate, and Hyperliquid is 0.125% dearer against KuCoin than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.034%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.262% in total (about 13.6% 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	KuCoin XMRUSDTM	590.12	0.0573	pay 0.0573% / 8h	3m 41s	$48.3M	$26.2M	50x
Short	Hyperliquid XMR	591.06	0.1779	get 0.0222% / 1h	3m 41s	$89.1M	$72.3M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against KuCoin. 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 KuCoinbpFee HyperliquidbpOrdersPrice spread, now +0.159%Rate

Funding earned: $253.29
Price spread: +0.159% → +0.034%: $12.55
Slippage, 4 orders: −$42.33
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $202.51
Costs to cover: 0.633%
Break-even: 1.4 days

Slippage from KuCoin: live order book, 5 min ago; Hyperliquid: live order book, 10 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 KuCoin live order book, 5 min ago	5.17 bp	23.5 bp −$24	61.7 bp −$617	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 10 min ago	2.11 bp	12.4 bp −$12	doesn't fit	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	589.41	−0.121%	$45K	—	150x	as long as short
edgeX XMRUSDC	+0.0100%	4h	589.34	−0.132%	$1.0M	$665K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	589.84	−0.047%	$2K	$2.0M	20x	as long as short
Bybit XMRUSDT	+0.0166%	8h	591.36	+0.210%	$47.9M	$64.3M	75x	as long as short
Aevo XMR-PERP	+0.0168%	1h	590.31	+0.032%	$12K	—	3x	as long as short
MEXC XMR_USDT	+0.0341%	8h	590.93	+0.137%	$21.6M	$15.2M	100x	as long as short
Binance XMRUSDT	+0.0342%	8h	590.99	+0.147%	$54.1M	$166.1M	75x	as long as short
Lighter XMR	+0.0416%	1h	590.82	+0.119%	$3.3M	$7.2M	10x	as long as short
BingX XMR-USDT	+0.0438%	8h	591.66	+0.261%	—	$5.8M	—	as long as short
Kraken Futures PF_XMRUSD	+0.0466%	1h	589.65	−0.080%	$5.6M	$20.5M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget XMRUSDT	+0.0473%	8h	591.07	+0.161%	$9.7M	$14.6M	50x	as long as short
BloFin XMR-USDT	+0.0483%	8h	590.11	−0.002%	$2.8M	$11.6M	75x	as long as short
Gate XMR_USDT	+0.0485%	8h	590.22	+0.017%	$1.6M	$4.6M	50x	as long as short
Backpack XMR_USDC_PERP	+0.0504%	1h	590.31	+0.032%	$201K	$579K	20x	as long as short
Pacifica XMR	+0.0565%	1h	590.97	+0.144%	$275K	$1.1M	10x	as long as short
KuCoin XMRUSDTMlong	+0.0573%	8h	590.12	long leg	$48.3M	$26.2M	50x
Aster XMRUSDT	+0.0591%	8h	590.28	+0.026%	$633K	$2.4M	75x	as long as short
Variational Omni XMR	+0.0616%	8h	589.83	−0.050%	$6.7M	$2.6M	—	as long as short
GRVT XMR_USDT_Perp	+0.0621%	8h	591.34	+0.206%	$347K	$795K	10x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0868% / S −0.2452%	1h	589.02	−0.186%	$548K	—	100x	as long as short
Polymarket Perps XMR-USD	+0.0942%	1h	590.47	+0.059%	$53K	$2.0M	5x	as long as short
Orderly PERP_XMR_USDC	+0.0966%	8h	590.45	+0.056%	$42K	$734K	10x	as long as short
Paradex XMR-USD-PERP	+0.0968%	8h	590.65	+0.090%	$8K	$4K	20x	as long as short
SoDEX XMR-USD	+0.1132%	1h	590.64	+0.088%	$449K	$3K	5x	as long as short
Nado XMR-PERP	+0.1222%	1h	590.57	+0.075%	$1.3M	$470K	10x	as long as short
Injective XMR/USDC PERP	+0.1312%	1h	596.76	+1.125%	$3K	$6K	12x	as long as short
dYdX XMR-USD	+0.1571%	1h	589.42	−0.118%	$107K	$50K	5x	as long as short
HTX XMR-USDT	+0.1707%	8h	589.95	−0.029%	$1.1M	$1.5M	20x	as long as short
Hyperliquid XMRshort	+0.1779%	1h	591.06	+0.159%	$89.1M	$72.3M	5x
Extended XMR-USD	+0.2088%	1h	591.21	+0.184%	$3.2M	$7.0M	25x	as long as short
Aftermath Perps XMRUSD	+0.2424%	1h	590.65	+0.090%	$2K	$46K	10x	as long as short