Funding arb · Price arb /

XMR

all XMR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0320%/8h= +35.0% APRpaid last 24h +0.046%

Price spread now: Gate against Lighter−0.010%7-day average −0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$500.500% of the position

Long on Lighter Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.068%+$7 on $10k

Price spread, last 7 days+0.038%+$4 · spread now −0.010%, 7d avg −0.032%

Together, before fees+0.106%+ Points / potential airdropLighter: Season 3 · farm board+$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Gate is 0.023% dearer against Lighter than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.032%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.068% in total (about 3.5% 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	600.35	0.0224	pay 0.0028% / 1h	57m 28s	$3.4M	$6.9M	10x
Short	Gate XMR_USDT	600.29	0.0544	get 0.0544% / 8h	57m 28s	$1.7M	$4.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.010%Rate

Funding earned: $67.2
Price spread: −0.010% → −0.032%: $2.26
Slippage, 4 orders: −$35
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $19.46
Costs to cover: 0.500%
Break-even: 5.0 days

Slippage from Lighter: live order book, 6 min ago; Gate: live order book, 1 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, 6 min ago	2.52 bp	5.0 bp −$5	17.9 bp −$179	127.8 bp −$12.8K	doesn't fit
Sell Gate live order book, 1 min ago	7.74 bp	23.0 bp −$23	40.0 bp −$400	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	599.93	−0.069%	$45K	—	150x	as long as short
Bybit XMRUSDT	+0.0100%	8h	600.68	+0.055%	$48.9M	$62.4M	75x	as long as short
edgeX XMRUSDC	+0.0100%	4h	600.60	+0.042%	$1.1M	$664K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	599.61	−0.123%	$2K	$1.9M	20x	as long as short
Aevo XMR-PERP	+0.0160%	1h	600.58	+0.039%	$12K	—	3x	as long as short
Lighter XMRlong	+0.0224%	1h	600.35	long leg	$3.4M	$6.9M	10x
Backpack XMR_USDC_PERP	+0.0314%	1h	599.76	−0.098%	$204K	$575K	20x	as long as short
Binance XMRUSDT	+0.0328%	8h	600.84	+0.081%	$55.0M	$163.5M	75x	as long as short
MEXC XMR_USDT	+0.0328%	8h	601.00	+0.108%	$22.5M	$14.9M	100x	as long as short
Variational Omni XMR	+0.0347%	8h	599.64	−0.117%	$6.9M	$2.5M	—	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	+0.0352%	1h	600.44	+0.015%	$456K	$3K	5x	as long as short
BingX XMR-USDT	+0.0401%	8h	601.23	+0.147%	—	$5.7M	—	as long as short
Bitget XMRUSDT	+0.0422%	8h	600.47	+0.020%	$10.0M	$14.2M	50x	as long as short
Kraken Futures PF_XMRUSD	+0.0459%	1h	599.44	−0.151%	$5.7M	$20.3M	50x	as long as short
BloFin XMR-USDT	+0.0461%	8h	600.92	+0.095%	$2.8M	$11.6M	75x	as long as short
Polymarket Perps XMR-USD	+0.0493%	1h	600.93	+0.097%	$23K	$1.8M	5x	as long as short
Gate XMR_USDTshort	+0.0544%	8h	600.29	−0.010%	$1.7M	$4.6M	50x
Pacifica XMR	+0.0565%	1h	600.74	+0.065%	$283K	$1.0M	10x	as long as short
KuCoin XMRUSDTM	+0.0577%	8h	600.43	+0.013%	$49.1M	$25.9M	50x	as long as short
Aster XMRUSDT	+0.0580%	8h	600.84	+0.082%	$693K	$2.4M	75x	as long as short
GRVT XMR_USDT_Perp	+0.0610%	8h	600.14	−0.035%	$350K	$797K	10x	as long as short
Nado XMR-PERP	+0.0841%	1h	600.65	+0.050%	$1.3M	$475K	10x	as long as short
Paradex XMR-USD-PERP	+0.0857%	8h	600.63	+0.047%	$8K	$4K	20x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0885% / S −0.2310%	1h	599.61	−0.123%	$549K	—	100x	as long as short
Orderly PERP_XMR_USDC	+0.0957%	8h	600.22	−0.021%	$44K	$729K	10x	as long as short
Injective XMR/USDC PERP	+0.1312%	1h	596.76	−0.598%	$3K	$6K	12x	as long as short
Hyperliquid XMR	+0.1488%	1h	601.21	+0.143%	$90.4M	$69.9M	5x	as long as short
Extended XMR-USD	+0.1808%	1h	600.53	+0.030%	$3.1M	$6.9M	25x	as long as short
HTX XMR-USDT	+0.1946%	8h	599.43	−0.153%	$1.1M	$1.5M	20x	as long as short
dYdX XMR-USD	+0.2328%	1h	599.00	−0.225%	$109K	$50K	5x	as long as short
Aftermath Perps XMRUSD	+0.2332%	1h	599.46	−0.149%	$2K	$47K	10x	as long as short