Funding arb · Price arb /

XMR

all XMR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0238%/8h= +26.1% APRpaid last 24h +0.202%

Price spread now: Orderly against Lighter+0.092%7-day average −0.003% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.573%+$57 on $10k

Price spread, last 3 days (all we have)−0.035%−$3 · spread now +0.092%, 7d avg −0.003%

Together, before fees+0.539%+ Points / potential airdropLighter: Season 3 · farm board+$54 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Orderly is 0.095% dearer against Lighter than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XMR	594.01	0.0688	pay 0.0086% / 1h	33m 31s	$3.4M	$6.8M	10x
Short	Orderly PERP_XMR_USDC	594.56	0.0926	get 0.0926% / 8h	1h 33m	$50K	$721K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.092%Rate

Funding earned: $50.03
Price spread: +0.092% → −0.003%: $9.53
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: $53.56
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Lighter: live order book, 5 min ago; Orderly: no order-book sample. Net counts fees only.

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, 5 min ago	4.61 bp	6.3 bp −$6	13.9 bp −$139	127.8 bp −$12.8K	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	593.41	−0.102%	$44K	—	150x	as long as short
Bybit XMRUSDT	+0.0100%	8h	593.86	−0.025%	$48.1M	$61.6M	75x	as long as short
edgeX XMRUSDC	+0.0100%	4h	596.31	+0.386%	$1.1M	$665K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	593.56	−0.076%	$2K	$1.9M	20x	as long as short
Aevo XMR-PERP	+0.0160%	1h	593.06	−0.160%	$12K	—	3x	as long as short
Variational Omni XMR	+0.0259%	8h	597.65	+0.612%	$6.9M	$2.7M	—	as long as short
Binance XMRUSDT	+0.0321%	8h	594.03	+0.002%	$54.5M	$162.9M	75x	as long as short
MEXC XMR_USDT	+0.0325%	8h	594.00	−0.002%	$22.3M	$15.0M	100x	as long as short
BingX XMR-USDT	+0.0377%	8h	594.12	+0.018%	—	$5.7M	—	as long as short
Kraken Futures PF_XMRUSD	+0.0384%	1h	593.21	−0.135%	$5.6M	$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	593.98	−0.005%	$269K	$1.0M	10x	as long as short
Bitget XMRUSDT	+0.0401%	8h	593.88	−0.022%	$9.9M	$14.2M	50x	as long as short
BloFin XMR-USDT	+0.0460%	8h	595.05	+0.175%	$2.8M	$11.5M	75x	as long as short
Gate XMR_USDT	+0.0513%	8h	594.08	+0.012%	$1.6M	$4.5M	50x	as long as short
Aster XMRUSDT	+0.0524%	8h	593.73	−0.047%	$671K	$2.3M	75x	as long as short
KuCoin XMRUSDTM	+0.0530%	8h	593.87	−0.024%	$48.6M	$25.8M	50x	as long as short
GRVT XMR_USDT_Perp	+0.0592%	8h	594.92	+0.154%	$353K	$785K	10x	as long as short
Lighter XMRlong	+0.0688%	1h	594.01	long leg	$3.4M	$6.8M	10x
Injective XMR/USDC PERP	+0.0695%	1h	591.89	−0.357%	$3K	$6K	12x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0821% / S −0.1341%	1h	593.35	−0.112%	$339K	—	100x	as long as short
Polymarket Perps XMR-USD	+0.0827%	1h	594.38	+0.062%	$23K	$1.8M	5x	as long as short
Paradex XMR-USD-PERP	+0.0844%	8h	594.11	+0.016%	$8K	$4K	20x	as long as short
SoDEX XMR-USD	+0.0881%	1h	594.33	+0.054%	$452K	$3K	5x	as long as short
Orderly PERP_XMR_USDCshort	+0.0926%	8h	594.56	+0.092%	$50K	$721K	10x
Backpack XMR_USDC_PERP	+0.0974%	1h	593.69	−0.054%	$202K	$575K	20x	as long as short
dYdX XMR-USD	+0.1471%	1h	593.17	−0.142%	$108K	$50K	5x	as long as short
Nado XMR-PERP	+0.1527%	1h	594.77	+0.128%	$1.3M	$480K	10x	as long as short
Extended XMR-USD	+0.1824%	1h	594.04	+0.005%	$3.1M	$6.8M	25x	as long as short
Hyperliquid XMR	+0.1997%	1h	594.87	+0.145%	$88.3M	$68.2M	5x	as long as short
HTX XMR-USDT	+0.2071%	8h	593.81	−0.034%	$1.1M	$1.5M	20x	as long as short
Aftermath Perps XMRUSD	+0.2499%	1h	595.38	+0.230%	$2K	$47K	10x	as long as short