Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.1344%/8h= +147.2% APRpaid last 24h +0.325%

Price spread now: dYdX against MEXC−0.248%7-day average −0.212% · you buy dearer than you sell

Net, funding: paid 7d − costs−$368as in the Funding arb table

Net, price: spread back to 7d avg − costs−$448as in the Price arb table

costs, in and out, $10k−$4454.446% of the position

Long on MEXC Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.768%+$77 on $10k

Price spread, last 4 days (all we have)+0.214%+$21 · spread now −0.248%, 7d avg −0.212%

Together, before fees+0.983%+$98 on $10k · with fees, hour by hour

Funding pays, the price is against you. dYdX is 0.036% cheaper against MEXC than usual: you would sell low and buy high (spread −0.248% now, against its 7-day average of −0.212%). If the spread goes back, that is −$4 on $10k: about 2 hours of funding at the current rate (+$40 a day). At the pace of the last 7 days (+0.768% in total) that is about 8 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.768% in total (about 40.1% 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	MEXC XMR_USDT	572.01	0.0463	pay 0.0463% / 8h	7h 02m	$19.9M	$9.7M	100x
Short	dYdX XMR-USD	570.59	0.1807	get 0.0226% / 1h	2m 42s	$103K	$26K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against MEXC. 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 MEXCbpFee dYdXbpOrdersPrice spread, now −0.248%Rate

Funding earned: $282.24
Price spread: −0.248% → −0.212%: −$3.59
Slippage, 4 orders: −$430.58
Fee MEXC: 2 bp × 2 orders: −$4
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$165.93
Costs to cover: 4.446%
Break-even: 11.1 days

Slippage from MEXC: live order book, 1 min ago; dYdX: live order book, 31 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 MEXC live order book, 1 min ago	2.18 bp	20.8 bp −$21	29.8 bp −$298	82.1 bp −$8,206	211.8 bp −$105.9K
Sell dYdX live order book, 31 min ago	98.40 bp	310.7 bp −$311	335.6 bp −$3,356	356.6 bp −$35.7K	806.4 bp −$403.2K

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	570.79	−0.213%	$34K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	582.55	+1.843%	$3K	$3K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	571.04	−0.170%	$1.0M	$529K	10x	as long as short
Polymarket Perps XMR-USD	+0.0100%	1h	571.74	−0.047%	$30K	$1.5M	5x	as long as short
SunX XMR-USDT	+0.0100%	8h	571.17	−0.147%	$2K	$1.1M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	570.75	−0.220%	$1.1M	$1.0M	20x	as long as short
Aevo XMR-PERP	+0.0200%	1h	572.21	+0.034%	$12K	—	3x	as long as short
Lighter XMR	+0.0320%	1h	571.47	−0.095%	$3.0M	$5.6M	10x	as long as short
Kraken Futures PF_XMRUSD	+0.0372%	1h	571.01	−0.175%	$5.4M	$7.5M	50x	as long as short
Gate XMR_USDT	+0.0417%	8h	571.85	−0.028%	$1.6M	$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
KuCoin XMRUSDTM	+0.0453%	8h	571.56	−0.079%	$45.3M	$17.0M	50x	as long as short
MEXC XMR_USDTlong	+0.0463%	8h	572.01	long leg	$19.9M	$9.7M	100x
Binance XMRUSDT	+0.0466%	8h	571.25	−0.132%	$52.3M	$97.7M	75x	as long as short
Bybit XMRUSDT	+0.0477%	8h	570.88	−0.198%	$46.3M	$47.0M	75x	as long as short
Pacifica XMR	+0.0550%	1h	571.92	−0.015%	$270K	$736K	10x	as long as short
BingX XMR-USDT	+0.0566%	8h	571.75	−0.045%	—	$5.0M	—	as long as short
Aster XMRUSDT	+0.0567%	8h	571.42	−0.103%	$660K	$1.5M	75x	as long as short
Hyperliquid XMR	+0.0590%	1h	571.59	−0.074%	$86.8M	$55.9M	5x	as long as short
Bitget XMRUSDT	+0.0607%	8h	572.13	+0.021%	$9.3M	$10.1M	50x	as long as short
Extended XMR-USD	+0.0616%	1h	571.83	−0.031%	$3.0M	$7.3M	25x	as long as short
GRVT XMR_USDT_Perp	+0.0707%	8h	570.25	−0.309%	$331K	$639K	10x	as long as short
Paradex XMR-USD-PERP	+0.0730%	8h	571.63	−0.066%	$8K	$1K	20x	as long as short
BloFin XMR-USDT	+0.0780%	8h	572.19	+0.031%	$2.7M	$9.6M	75x	as long as short
Variational Omni XMR	+0.0787%	8h	572.38	+0.065%	$6.1M	$2.4M	—	as long as short
Nado XMR-PERP	+0.0979%	1h	572.03	+0.003%	$1.2M	$233K	10x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0982% / S −0.1195%	1h	570.80	−0.212%	$594K	—	100x	as long as short
SoDEX XMR-USD	+0.1052%	1h	572.08	+0.012%	$435K	$4K	5x	as long as short
Orderly PERP_XMR_USDC	+0.1092%	8h	571.98	−0.005%	$41K	$394K	10x	as long as short
Backpack XMR_USDC_PERP	+0.1190%	1h	571.92	−0.016%	$128K	$415K	20x	as long as short
dYdX XMR-USDshort	+0.1807%	1h	570.59	−0.248%	$103K	$26K	5x
Aftermath Perps XMRUSD	+0.2052%	1h	571.86	−0.025%	$1K	$38K	10x	as long as short