Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0476%/8h= +52.2% APRpaid last 24h +0.028%

Price spread now: Variational Omni against Lighter−0.340%7-day average +0.036% · you buy dearer than you sell

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

Long on Lighter Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.021%+$2 on $10k

Price spread, last 7 days+0.381%+$38 · spread now −0.340%, 7d avg +0.036%

Together, before fees+0.402%+ Points / potential airdropLighter: Season 3 · Variational Omni: Active · farm board+$40 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.376% cheaper against Lighter than usual: you would sell low and buy high (spread −0.340% now, against its 7-day average of +0.036%). If the spread goes back, that is −$38 on $10k: about 2.6 days of funding at the current rate (+$14 a day). At the pace of the last 4 days (+0.021% in total) that is about 2 months.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.021% in total (about 2.1% 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	572.32	0.0288	pay 0.0036% / 1h	22m 55s	$3.0M	$5.5M	10x
Short	Variational Omni XMR	570.37	0.0764	get 0.0764% / 8h	7h 22m	$6.2M	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Lighter. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now −0.340%Rate

Funding earned: $100.04
Price spread: −0.340% → +0.036%: −$37.58
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $62.46
Costs to cover: 0.000%
Break-even: 2.6 days

Slippage unknown: Lighter: live order book, 5 min ago; Variational Omni: RFQ quote, 1 min ago. 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	3.17 bp	8.1 bp −$8	19.6 bp −$196	237.6 bp −$23.8K	doesn't fit
Sell Variational Omni RFQ quote, 1 min ago	4.11 bp	doesn't fit	31.6 bp −$316	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 −0.0005%	1h	571.31	−0.175%	$34K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	582.55	+1.788%	$3K	$3K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	570.98	−0.234%	$1.0M	$532K	10x	as long as short
Polymarket Perps XMR-USD	+0.0100%	1h	571.14	−0.205%	$30K	$1.6M	5x	as long as short
SunX XMR-USDT	+0.0100%	8h	572.12	−0.034%	$2K	$1.2M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	570.14	−0.380%	$1.1M	$1.0M	20x	as long as short
Aevo XMR-PERP	+0.0192%	1h	571.88	−0.076%	$12K	—	3x	as long as short
Bybit XMRUSDT	+0.0214%	8h	572.39	+0.013%	$46.3M	$48.5M	75x	as long as short
Lighter XMRlong	+0.0288%	1h	572.32	long leg	$3.0M	$5.5M	10x
Gate XMR_USDT	+0.0342%	8h	571.92	−0.069%	$1.5M	$2.7M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_XMRUSD	+0.0372%	1h	571.77	−0.095%	$5.4M	$8.6M	50x	as long as short
KuCoin XMRUSDTM	+0.0374%	8h	571.75	−0.099%	$45.3M	$17.4M	50x	as long as short
Extended XMR-USD	+0.0456%	1h	572.55	+0.040%	$3.0M	$7.4M	25x	as long as short
MEXC XMR_USDT	+0.0462%	8h	572.70	+0.067%	$20.0M	$9.7M	100x	as long as short
Binance XMRUSDT	+0.0462%	8h	572.76	+0.078%	$52.3M	$102.1M	75x	as long as short
Hyperliquid XMR	+0.0491%	1h	572.35	+0.006%	$86.8M	$57.5M	5x	as long as short
BingX XMR-USDT	+0.0518%	8h	572.77	+0.080%	—	$5.1M	—	as long as short
GRVT XMR_USDT_Perp	+0.0536%	8h	571.37	−0.165%	$335K	$620K	10x	as long as short
Pacifica XMR	+0.0550%	1h	572.59	+0.047%	$269K	$745K	10x	as long as short
Bitget XMRUSDT	+0.0557%	8h	572.45	+0.024%	$9.3M	$10.2M	50x	as long as short
Aster XMRUSDT	+0.0580%	8h	571.77	−0.095%	$655K	$1.5M	75x	as long as short
Paradex XMR-USD-PERP	+0.0632%	8h	572.30	−0.003%	$8K	$2K	20x	as long as short
Variational Omni XMRshort	+0.0764%	8h	570.37	−0.340%	$6.2M	$2.3M	—
BloFin XMR-USDT	+0.0778%	8h	572.71	+0.069%	$2.7M	$9.8M	75x	as long as short
SoDEX XMR-USD	+0.0928%	1h	572.54	+0.039%	$435K	$4K	5x	as long as short
Nado XMR-PERP	+0.0948%	1h	572.76	+0.078%	$1.2M	$309K	10x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.1030% / S −0.1284%	1h	570.97	−0.235%	$595K	—	100x	as long as short
Orderly PERP_XMR_USDC	+0.1086%	8h	572.32	+0.001%	$40K	$406K	10x	as long as short
Backpack XMR_USDC_PERP	+0.1207%	1h	572.43	+0.020%	$128K	$421K	20x	as long as short
dYdX XMR-USD	+0.1659%	1h	569.25	−0.535%	$103K	$28K	5x	as long as short
Aftermath Perps XMRUSD	+0.1988%	1h	571.63	−0.120%	$1K	$38K	10x	as long as short