Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0985%/8h= −107.9% APRpaid last 24h −0.322%

Price spread now: Injective against Orderly+0.811%58s7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Injective is 0.811% dearer against Orderly than usual: you sell high and buy low (spread +0.811% now, against zero (this spread has no 7-day history yet)): +$81 on $10k if it goes back. Holding the pair costs −$30 a day in funding at the current rate, which eats that in about 2.7 days. The two prices were read 58 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	591.96	0.1018	pay 0.1018% / 8h	7h 39m	$42K	$737K	10x
Short	Injective XMR/USDC PERP	596.76	0.0033	get 0.0004% / 1h	39m 58s	$3K	$4K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Orderly. 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 OrderlybpFee InjectivebpOrdersPrice spread, now +0.811%Rate

Funding earned: −$206.87
Price spread: +0.811% → 0.000%: $81.09
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$131.81
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Orderly: no order-book sample; Injective: 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 Orderly no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

Orderly and Injective: 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	590.60	−0.230%	$45K	—	150x	as long as short
Injective XMR/USDC PERPshort	+0.0033%	1h	596.76	+0.811%	$3K	$4K	12x
dYdX XMR-USD	+0.0096%	1h	590.14	−0.308%	$107K	$50K	5x	as long as short
edgeX XMRUSDC	+0.0100%	4h	589.33	−0.444%	$1.0M	$659K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	591.46	−0.084%	$2K	$2.0M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	591.66	−0.051%	$1.1M	$1.5M	20x	as long as short
Aevo XMR-PERP	+0.0184%	1h	590.38	−0.267%	$12K	—	3x	as long as short
MEXC XMR_USDT	+0.0411%	8h	591.65	−0.052%	$21.4M	$15.2M	100x	as long as short
Binance XMRUSDT	+0.0412%	8h	592.20	+0.040%	$54.2M	$166.9M	75x	as long as short
Bitget XMRUSDT	+0.0512%	8h	591.86	−0.017%	$9.7M	$14.6M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin XMR-USDT	+0.0593%	8h	590.88	−0.182%	$2.8M	$11.6M	75x	as long as short
Aster XMRUSDT	+0.0629%	8h	591.68	−0.047%	$654K	$2.5M	75x	as long as short
Kraken Futures PF_XMRUSD	+0.0644%	1h	590.40	−0.264%	$5.6M	$20.5M	50x	as long as short
Pacifica XMR	+0.0659%	1h	592.16	+0.034%	$278K	$1.1M	10x	as long as short
KuCoin XMRUSDTM	+0.0664%	8h	591.22	−0.125%	$48.5M	$26.2M	50x	as long as short
Variational Omni XMR	+0.0778%	8h	592.85	+0.151%	$6.7M	$2.6M	—	as long as short
Backpack XMR_USDC_PERP	+0.0869%	1h	591.15	−0.137%	$200K	$549K	20x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0870% / S −0.2452%	1h	590.59	−0.232%	$549K	—	100x	as long as short
Orderly PERP_XMR_USDClong	+0.1018%	8h	591.96	long leg	$42K	$737K	10x
Paradex XMR-USD-PERP	+0.1109%	8h	592.05	+0.016%	$8K	$4K	20x	as long as short
Gate XMR_USDT	+0.1172%	8h	591.35	−0.103%	$1.6M	$4.6M	50x	as long as short
Lighter XMR	+0.1216%	1h	591.51	−0.076%	$3.3M	$7.1M	10x	as long as short
GRVT XMR_USDT_Perp	+0.1240%	8h	589.84	−0.358%	$345K	$805K	10x	as long as short
Nado XMR-PERP	+0.1327%	1h	592.20	+0.041%	$1.3M	$467K	10x	as long as short
Polymarket Perps XMR-USD	+0.1347%	1h	592.39	+0.073%	$48K	$1.9M	5x	as long as short
BingX XMR-USDT	+0.1375%	8h	591.79	−0.029%	—	$5.8M	—	as long as short
SoDEX XMR-USD	+0.1496%	1h	591.51	−0.076%	$450K	$3K	5x	as long as short
Bybit XMRUSDT	+0.1603%	8h	592.39	+0.073%	$47.7M	$64.6M	75x	as long as short
Hyperliquid XMR	+0.2014%	1h	592.05	+0.015%	$89.4M	$73.1M	5x	as long as short
Extended XMR-USD	+0.2400%	1h	592.06	+0.018%	$3.2M	$7.5M	25x	as long as short
Aftermath Perps XMRUSD	+0.2495%	1h	590.62	−0.226%	$1K	$46K	10x	as long as short