XMR

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0450%/8h= −49.3% APRnext payment −$0.56 per $10,000 · paid last 24h −0.017%

Price spread now: Backpack against Nado−0.086%7-day average −0.117% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$420.423% of the position

Long on Nado Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.020%−$2 on $10k

Price spread, last 4 days (all we have)−0.489%−$49 · spread now −0.086%, 7d avg −0.117%

Together, before fees−0.508%+ Points / potential airdropNado: Active · farm board−$51 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Backpack is 0.031% dearer against Nado than usual: you sell high and buy low (spread −0.086% now, against its 7-day average of −0.117%): +$3 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 5 hours. At the pace of the last 3 days (−0.020% in total) that is about 5.1 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.020% in total (about -2.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.56 per $10,000. 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	Nado XMR-PERP	587.55	0.1432	pay 0.0179% / 1h	17m 42s	$1.3M	$466K	10x
Short	Backpack XMR_USDC_PERP	587.04	0.0981	get 0.0123% / 1h	17m 42s	$184K	$535K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Nado. 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 NadobpFee BackpackbpOrdersPrice spread, now −0.086%Rate

Funding earned: −$94.58
Price spread: −0.086% → −0.117%: $3.09
Slippage, 4 orders: −$25.35
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$133.84
Costs to cover: 0.423%
Break-even: never at this rate

Slippage from Nado: live order book, 1 min ago; Backpack: live order book, 56 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 Nado live order book, 1 min ago	7.57 bp	17.7 bp −$18	42.2 bp −$422	16023.4 bp −$1.60M	doesn't fit
Sell Backpack live order book, 56 min ago	0.34 bp	5.4 bp −$5	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	586.14	−0.240%	$45K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	596.76	+1.568%	$3K	$4K	12x	as long as short
dYdX XMR-USD	+0.0077%	1h	586.89	−0.113%	$106K	$50K	5x	as long as short
edgeX XMRUSDC	+0.0100%	4h	590.84	+0.560%	$1.0M	$661K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	586.24	−0.223%	$2K	$2.0M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	587.00	−0.093%	$1.1M	$1.6M	20x	as long as short
Aevo XMR-PERP	+0.0192%	1h	587.41	−0.023%	$12K	—	3x	as long as short
Binance XMRUSDT	+0.0425%	8h	587.69	+0.024%	$53.6M	$167.1M	75x	as long as short
MEXC XMR_USDT	+0.0427%	8h	587.89	+0.058%	$21.3M	$15.3M	100x	as long as short
Bitget XMRUSDT	+0.0547%	8h	587.71	+0.028%	$9.7M	$14.5M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster XMRUSDT	+0.0616%	8h	587.36	−0.032%	$652K	$2.5M	75x	as long as short
BloFin XMR-USDT	+0.0620%	8h	588.63	+0.184%	$2.7M	$11.6M	75x	as long as short
Kraken Futures PF_XMRUSD	+0.0648%	1h	586.54	−0.171%	$5.6M	$20.5M	50x	as long as short
Pacifica XMR	+0.0659%	1h	587.87	+0.055%	$278K	$1.1M	10x	as long as short
KuCoin XMRUSDTM	+0.0686%	8h	587.55	0.000%	$48.2M	$26.0M	50x	as long as short
Gate XMR_USDT	+0.0738%	8h	587.25	−0.051%	$1.6M	$4.6M	50x	as long as short
Variational Omni XMR	+0.0867%	8h	591.04	+0.594%	$6.8M	$2.6M	—	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0869% / S −0.2458%	1h	586.10	−0.246%	$546K	—	100x	as long as short
GRVT XMR_USDT_Perp	+0.0967%	8h	591.60	+0.690%	$350K	$792K	10x	as long as short
Backpack XMR_USDC_PERPshort	+0.0981%	1h	587.04	−0.086%	$184K	$535K	20x
Orderly PERP_XMR_USDC	+0.1040%	8h	587.28	−0.046%	$42K	$739K	10x	as long as short
Bybit XMRUSDT	+0.1107%	8h	587.92	+0.063%	$47.3M	$64.7M	75x	as long as short
BingX XMR-USDT	+0.1111%	8h	587.85	+0.051%	—	$5.8M	—	as long as short
Polymarket Perps XMR-USD	+0.1120%	1h	587.00	−0.093%	$47K	$1.9M	5x	as long as short
SoDEX XMR-USD	+0.1188%	1h	587.28	−0.046%	$446K	$3K	5x	as long as short
Lighter XMR	+0.1224%	1h	588.02	+0.081%	$3.3M	$7.1M	10x	as long as short
Paradex XMR-USD-PERP	+0.1266%	8h	587.44	−0.018%	$8K	$4K	20x	as long as short
Nado XMR-PERPlong	+0.1432%	1h	587.55	long leg	$1.3M	$466K	10x
Hyperliquid XMR	+0.1984%	1h	588.12	+0.097%	$89.3M	$73.0M	5x	as long as short
Extended XMR-USD	+0.2472%	1h	587.57	+0.003%	$3.2M	$7.9M	25x	as long as short
Aftermath Perps XMRUSD	+0.2652%	1h	589.38	+0.312%	$1K	$46K	10x	as long as short