XMR

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0068%/8h= −7.4% APRnext payment −$0.08 per $10,000 · paid last 24h +0.130%

Price spread now: Backpack against Lighter−0.049%7-day average −0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs+$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$290.293% of the position

Long on Lighter Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.762%+$76 on $10k

Price spread, last 4 days (all we have)−0.018%−$2 · spread now −0.049%, 7d avg −0.044%

Together, before fees+0.744%+ Points / potential airdropLighter: Season 3 · farm board+$74 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.044%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.762%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XMR	592.79	0.0168	pay 0.0021% / 1h	38m 53s	$3.5M	$6.7M	10x
Short	Backpack XMR_USDC_PERP	592.50	0.0100	get 0.0013% / 1h	38m 53s	$202K	$567K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Lighter. 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 LighterbpFee BackpackbpOrdersPrice spread, now −0.049%Rate

Funding earned: −$14.28
Price spread: −0.049% → −0.044%: −$0.5
Slippage, 4 orders: −$19.32
Fee Lighter: 0 bp × 2 orders: $0
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$44.1
Costs to cover: 0.293%
Break-even: never at this rate

Slippage from Lighter: live order book, 4 min ago; Backpack: live order book, 50 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 Lighter live order book, 4 min ago	3.88 bp	6.6 bp −$7	15.6 bp −$156	131.7 bp −$13.2K	doesn't fit
Sell Backpack live order book, 50 min ago	1.87 bp	6.9 bp −$7	23.6 bp −$236	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	592.44	−0.059%	$45K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	591.89	−0.152%	$3K	$6K	12x	as long as short
Bybit XMRUSDT	+0.0100%	8h	593.71	+0.155%	$47.5M	$60.7M	75x	as long as short
Backpack XMR_USDC_PERPshort	+0.0100%	1h	592.50	−0.049%	$202K	$567K	20x
edgeX XMRUSDC	+0.0100%	4h	593.35	+0.095%	$1.1M	$671K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	592.28	−0.086%	$2K	$1.9M	20x	as long as short
Polymarket Perps XMR-USD	+0.0148%	1h	593.11	+0.054%	$24K	$1.8M	5x	as long as short
dYdX XMR-USD	+0.0168%	1h	592.66	−0.022%	$108K	$50K	5x	as long as short
Lighter XMRlong	+0.0168%	1h	592.79	long leg	$3.5M	$6.7M	10x
Aevo XMR-PERP	+0.0176%	1h	593.35	+0.095%	$12K	—	3x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX XMR-USD	+0.0180%	1h	593.14	+0.059%	$451K	$4K	5x	as long as short
Variational Omni XMR	+0.0300%	8h	593.60	+0.137%	$6.9M	$2.8M	—	as long as short
Gate XMR_USDT	+0.0360%	8h	592.53	−0.044%	$1.6M	$4.5M	50x	as long as short
MEXC XMR_USDT	+0.0369%	8h	593.82	+0.174%	$22.6M	$15.2M	100x	as long as short
Binance XMRUSDT	+0.0369%	8h	593.50	+0.120%	$54.4M	$161.8M	75x	as long as short
BingX XMR-USDT	+0.0376%	8h	594.20	+0.238%	—	$5.8M	—	as long as short
Bitget XMRUSDT	+0.0392%	8h	593.29	+0.085%	$9.9M	$14.0M	50x	as long as short
BloFin XMR-USDT	+0.0518%	8h	592.79	0.000%	$2.8M	$11.3M	75x	as long as short
Aster XMRUSDT	+0.0554%	8h	593.75	+0.162%	$669K	$2.3M	75x	as long as short
Kraken Futures PF_XMRUSD	+0.0614%	1h	592.18	−0.103%	$5.6M	$20.3M	50x	as long as short
Pacifica XMR	+0.0619%	1h	593.79	+0.168%	$268K	$1.0M	10x	as long as short
GRVT XMR_USDT_Perp	+0.0624%	8h	593.34	+0.094%	$346K	$796K	10x	as long as short
KuCoin XMRUSDTM	+0.0626%	8h	593.72	+0.157%	$49.4M	$25.4M	50x	as long as short
Paradex XMR-USD-PERP	+0.0732%	8h	593.59	+0.135%	$8K	$4K	20x	as long as short
Nado XMR-PERP	+0.0806%	1h	593.17	+0.065%	$1.3M	$477K	10x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0841% / S −0.1411%	1h	592.39	−0.067%	$352K	—	100x	as long as short
Orderly PERP_XMR_USDC	+0.0868%	8h	593.20	+0.069%	$48K	$729K	10x	as long as short
Extended XMR-USD	+0.1064%	1h	593.21	+0.071%	$3.1M	$6.8M	25x	as long as short
Hyperliquid XMR	+0.1533%	1h	594.25	+0.246%	$86.5M	$65.3M	5x	as long as short
Aftermath Perps XMRUSD	+0.2300%	1h	593.21	+0.071%	$2K	$47K	10x	as long as short
HTX XMR-USDT	+0.2402%	8h	590.51	−0.384%	$1.1M	$1.4M	20x	as long as short