Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0385%/8h= −42.1% APRpaid last 24h −0.002%

Price spread now: Binance against Lighter−0.037%7-day average +0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$380.380% of the position

Long on Lighter Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.183%−$18 on $10k

Price spread, last 7 days+0.081%+$8 · spread now −0.037%, 7d avg +0.036%

Together, before fees−0.102%+ Points / potential airdropLighter: Season 3 · farm board−$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Binance is 0.073% cheaper against Lighter than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.036%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.183% in total (about -9.5% 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	Lighter XMR	597.50	0.0712	pay 0.0089% / 1h	36m 43s	$3.5M	$6.7M	10x
Short	Binance XMRUSDT	597.28	0.0327	get 0.0327% / 8h	1h 36m	$54.8M	$162.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.037%Rate

Funding earned: −$80.76
Price spread: −0.037% → +0.036%: −$7.3
Slippage, 4 orders: −$28.02
Fee Lighter: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$126.07
Costs to cover: 0.380%
Break-even: never at this rate

Slippage from Lighter: live order book, 7 min ago; Binance: live order book, 7 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, 7 min ago	3.19 bp	4.9 bp −$5	14.3 bp −$143	124.7 bp −$12.5K	doesn't fit
Sell Binance live order book, 7 min ago	0.08 bp	14.7 bp −$15	29.2 bp −$292	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	595.85	−0.276%	$44K	—	150x	as long as short
Bybit XMRUSDT	+0.0100%	8h	597.73	+0.038%	$48.4M	$61.5M	75x	as long as short
edgeX XMRUSDC	+0.0100%	4h	596.45	−0.176%	$1.1M	$664K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	596.06	−0.241%	$2K	$1.9M	20x	as long as short
Aevo XMR-PERP	+0.0160%	1h	594.82	−0.449%	$12K	—	3x	as long as short
Variational Omni XMR	+0.0248%	8h	598.02	+0.086%	$6.9M	$2.7M	—	as long as short
MEXC XMR_USDT	+0.0325%	8h	597.50	0.000%	$22.4M	$15.0M	100x	as long as short
Binance XMRUSDTshort	+0.0327%	8h	597.28	−0.037%	$54.8M	$162.8M	75x
BingX XMR-USDT	+0.0377%	8h	597.70	+0.033%	—	$5.7M	—	as long as short
Kraken Futures PF_XMRUSD	+0.0382%	1h	595.76	−0.291%	$5.7M	$20.4M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica XMR	+0.0387%	1h	597.05	−0.075%	$271K	$1.0M	10x	as long as short
Bitget XMRUSDT	+0.0401%	8h	597.70	+0.033%	$10.0M	$14.2M	50x	as long as short
BloFin XMR-USDT	+0.0457%	8h	597.59	+0.015%	$2.8M	$11.5M	75x	as long as short
Gate XMR_USDT	+0.0509%	8h	596.75	−0.126%	$1.6M	$4.5M	50x	as long as short
Aster XMRUSDT	+0.0531%	8h	596.60	−0.151%	$674K	$2.3M	75x	as long as short
KuCoin XMRUSDTM	+0.0541%	8h	596.53	−0.162%	$48.8M	$25.8M	50x	as long as short
GRVT XMR_USDT_Perp	+0.0595%	8h	597.14	−0.060%	$354K	$785K	10x	as long as short
Injective XMR/USDC PERP	+0.0695%	1h	591.89	−0.939%	$3K	$6K	12x	as long as short
Lighter XMRlong	+0.0712%	1h	597.50	long leg	$3.5M	$6.7M	10x
Polymarket Perps XMR-USD	+0.0822%	1h	596.93	−0.095%	$23K	$1.8M	5x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0823% / S −0.1341%	1h	595.66	−0.308%	$341K	—	100x	as long as short
Paradex XMR-USD-PERP	+0.0850%	8h	597.08	−0.070%	$8K	$4K	20x	as long as short
SoDEX XMR-USD	+0.0886%	1h	596.82	−0.114%	$454K	$3K	5x	as long as short
Orderly PERP_XMR_USDC	+0.0924%	8h	596.56	−0.157%	$49K	$720K	10x	as long as short
Backpack XMR_USDC_PERP	+0.1006%	1h	596.16	−0.224%	$203K	$575K	20x	as long as short
dYdX XMR-USD	+0.1463%	1h	595.27	−0.373%	$108K	$50K	5x	as long as short
Nado XMR-PERP	+0.1528%	1h	597.23	−0.044%	$1.3M	$480K	10x	as long as short
Extended XMR-USD	+0.1816%	1h	597.41	−0.015%	$3.1M	$6.8M	25x	as long as short
Hyperliquid XMR	+0.1973%	1h	598.57	+0.179%	$88.8M	$67.5M	5x	as long as short
HTX XMR-USDT	+0.2091%	8h	594.95	−0.427%	$1.1M	$1.5M	20x	as long as short
Aftermath Perps XMRUSD	+0.2464%	1h	597.15	−0.059%	$2K	$47K	10x	as long as short