Funding you earn now, next payment 23:00 UTC+0.0130%/8h= +14.3% APRpaid last 24h −0.070%
Price spread now: Backpack against Orderly+0.172%46s7-day average −0.051% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.186%+$19 on $10k
+Price spread, last 3 days (all we have)−0.181%−$18 · spread now +0.172%, 7d avg −0.051%
=Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Backpack is 0.222% dearer against Orderly than usual: you sell high and buy low: +$22 more if the spread goes back to its 7-day average of −0.051%. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_XMR_USDC | 594.35 | 0.0886 | pay 0.0886% / 8h | 1h 54m | $48K | $718K | 10x |
| Short | Backpack XMR_USDC_PERP | 595.37 | 0.1017 | get 0.0127% / 1h | 54m 29s | $202K | $574K | 20x |
Orderly PERP_XMR_USDC
Backpack XMR_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Orderly. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $27.37
- Price spread: +0.172% → −0.051%
- $22.24
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $33.61
- Costs to cover
- 0.160%
- Break-even
- from the start
Slippage unknown: Orderly: no order-book sample; Backpack: live order book, 29 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 29 min ago | 1.68 bp | 7.0 bp −$7 | 26.9 bp −$269 | doesn't fit | doesn't fit |
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 | −0.158% | $44K | — | 150x | as long as short |
| Bybit XMRUSDT | +0.0100% | 8h | 594.30 | −0.008% | $48.1M | $61.4M | 75x | as long as short |
| edgeX XMRUSDC | +0.0100% | 4h | 597.26 | +0.489% | $1.1M | $664K | 10x | as long as short |
| SunX XMR-USDT | +0.0100% | 8h | 595.49 | +0.192% | $2K | $1.9M | 20x | as long as short |
| Aevo XMR-PERP | +0.0168% | 1h | 596.33 | +0.333% | $12K | — | 3x | as long as short |
| Variational Omni XMR | +0.0250% | 8h | 595.91 | +0.262% | $6.9M | $2.7M | — | as long as short |
| Binance XMRUSDT | +0.0332% | 8h | 593.83 | −0.088% | $54.5M | $162.6M | 75x | as long as short |
| MEXC XMR_USDT | +0.0333% | 8h | 594.34 | −0.002% | $22.6M | $14.9M | 100x | as long as short |
| BingX XMR-USDT | +0.0369% | 8h | 594.38 | +0.005% | — | $5.8M | — | as long as short |
| Kraken Futures PF_XMRUSD | +0.0383% | 1h | 595.09 | +0.124% | $5.7M | $20.4M | 50x | as long as short |
gTrade (Gains Network) XMR/USD
Bybit XMRUSDT
edgeX XMRUSDC
SunX XMR-USDT
Aevo XMR-PERP
Variational Omni XMR
Binance XMRUSDT
MEXC XMR_USDT
BingX XMR-USDT
Kraken Futures PF_XMRUSDShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica XMR | +0.0387% | 1h | 595.04 | +0.115% | $270K | $1.0M | 10x | as long as short |
| Bitget XMRUSDT | +0.0392% | 8h | 594.74 | +0.066% | $9.9M | $14.2M | 50x | as long as short |
| Gate XMR_USDT | +0.0444% | 8h | 593.12 | −0.207% | $1.6M | $4.5M | 50x | as long as short |
| BloFin XMR-USDT | +0.0478% | 8h | 595.88 | +0.257% | $2.8M | $11.4M | 75x | as long as short |
| Lighter XMR | +0.0520% | 1h | 594.94 | +0.100% | $3.5M | $6.7M | 10x | as long as short |
| Aster XMRUSDT | +0.0529% | 8h | 594.38 | +0.005% | $673K | $2.3M | 75x | as long as short |
| Polymarket Perps XMR-USD | +0.0549% | 1h | 594.77 | +0.071% | $24K | $1.8M | 5x | as long as short |
| KuCoin XMRUSDTM | +0.0578% | 8h | 594.49 | +0.024% | $48.8M | $25.7M | 50x | as long as short |
| GRVT XMR_USDT_Perp | +0.0594% | 8h | 597.78 | +0.577% | $348K | $782K | 10x | as long as short |
| Injective XMR/USDC PERP | +0.0695% | 1h | 591.89 | −0.414% | $3K | $6K | 12x | as long as short |
| SoDEX XMR-USD | +0.0824% | 1h | 596.13 | +0.299% | $453K | $3K | 5x | as long as short |
| GMX XMR/USD [WBTC.b-USDC] | L +0.0842% / S −0.1415% | 1h | 593.30 | −0.177% | $354K | — | 100x | as long as short |
| Paradex XMR-USD-PERP | +0.0857% | 8h | 594.99 | +0.108% | $8K | $4K | 20x | as long as short |
| Orderly PERP_XMR_USDClong | +0.0886% | 8h | 594.35 | long leg | $48K | $718K | 10x | |
| Backpack XMR_USDC_PERPshort | +0.1017% | 1h | 595.37 | +0.172% | $202K | $574K | 20x | |
| dYdX XMR-USD | +0.1347% | 1h | 594.49 | +0.024% | $108K | $50K | 5x | as long as short |
| Extended XMR-USD | +0.1616% | 1h | 595.04 | +0.116% | $3.1M | $6.8M | 25x | as long as short |
| Hyperliquid XMR | +0.1697% | 1h | 595.17 | +0.138% | $87.7M | $67.0M | 5x | as long as short |
| Nado XMR-PERP | +0.1809% | 1h | 594.57 | +0.037% | $1.3M | $479K | 10x | as long as short |
| HTX XMR-USDT | +0.2192% | 8h | 595.00 | +0.109% | $1.1M | $1.5M | 20x | as long as short |
| Aftermath Perps XMRUSD | +0.2456% | 1h | 595.55 | +0.201% | $2K | $47K | 10x | as long as short |
Pacifica XMR
Bitget XMRUSDT
Gate XMR_USDT
BloFin XMR-USDT
Lighter XMR
Aster XMRUSDT
Polymarket Perps XMR-USD
KuCoin XMRUSDTM
GRVT XMR_USDT_Perp
Injective XMR/USDC PERP
SoDEX XMR-USD
GMX XMR/USD [WBTC.b-USDC]
Paradex XMR-USD-PERP
dYdX XMR-USD
Extended XMR-USD
Hyperliquid XMR
Nado XMR-PERP
HTX XMR-USDT
Aftermath Perps XMRUSD