Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0720%/8h= −78.8% APRpaid last 24h −0.068%

Price spread now: Kraken Futures against Orderly−0.169%7-day average −0.140% · you buy dearer than you sell

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

Long on Orderly Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.616%−$62 on $10k

Price spread, last 4 days (all we have)+0.047%+$5 · spread now −0.169%, 7d avg −0.140%

Together, before fees−0.569%−$57 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$22 a day on $10k at the current rate, and Kraken Futures is 0.029% cheaper against Orderly than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.140%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_XMR_USDC	571.98	0.1092	pay 0.1092% / 8h	7h 03m	$41K	$394K	10x
Short	Kraken Futures PF_XMRUSD	571.01	0.0372	get 0.0047% / 1h	3m 07s	$5.4M	$7.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.169%Rate

Funding earned: −$151.19
Price spread: −0.169% → −0.140%: −$2.91
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$170.1
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Kraken Futures: live order book, 6 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 Kraken Futures live order book, 6 min ago	6.12 bp	12.2 bp −$12	25.2 bp −$252	124.6 bp −$12.5K	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 −0.0005%	1h	570.79	−0.208%	$34K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	582.55	+1.848%	$3K	$3K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	571.04	−0.165%	$1.0M	$529K	10x	as long as short
Polymarket Perps XMR-USD	+0.0100%	1h	571.74	−0.042%	$30K	$1.5M	5x	as long as short
SunX XMR-USDT	+0.0100%	8h	571.17	−0.142%	$2K	$1.1M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	570.75	−0.215%	$1.1M	$1.0M	20x	as long as short
Aevo XMR-PERP	+0.0200%	1h	572.21	+0.039%	$12K	—	3x	as long as short
Lighter XMR	+0.0320%	1h	571.74	−0.042%	$3.0M	$5.6M	10x	as long as short
Kraken Futures PF_XMRUSDshort	+0.0372%	1h	571.01	−0.169%	$5.4M	$7.5M	50x
Gate XMR_USDT	+0.0417%	8h	571.81	−0.030%	$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	571.93	−0.009%	$45.4M	$17.0M	50x	as long as short
MEXC XMR_USDT	+0.0463%	8h	572.12	+0.024%	$20.0M	$9.7M	100x	as long as short
Binance XMRUSDT	+0.0464%	8h	572.02	+0.007%	$52.3M	$97.9M	75x	as long as short
Bybit XMRUSDT	+0.0487%	8h	572.01	+0.005%	$46.4M	$47.0M	75x	as long as short
Pacifica XMR	+0.0550%	1h	571.92	−0.010%	$270K	$736K	10x	as long as short
BingX XMR-USDT	+0.0566%	8h	572.09	+0.019%	—	$5.0M	—	as long as short
Aster XMRUSDT	+0.0567%	8h	571.40	−0.102%	$660K	$1.5M	75x	as long as short
Hyperliquid XMR	+0.0591%	1h	571.86	−0.021%	$86.8M	$55.9M	5x	as long as short
Bitget XMRUSDT	+0.0607%	8h	572.35	+0.065%	$9.3M	$10.1M	50x	as long as short
Extended XMR-USD	+0.0616%	1h	571.95	−0.005%	$3.0M	$7.3M	25x	as long as short
GRVT XMR_USDT_Perp	+0.0707%	8h	570.25	−0.303%	$331K	$639K	10x	as long as short
Paradex XMR-USD-PERP	+0.0730%	8h	571.63	−0.061%	$8K	$1K	20x	as long as short
BloFin XMR-USDT	+0.0780%	8h	572.19	+0.037%	$2.7M	$9.6M	75x	as long as short
Variational Omni XMR	+0.0787%	8h	572.38	+0.070%	$6.1M	$2.4M	—	as long as short
Nado XMR-PERP	+0.0979%	1h	572.03	+0.008%	$1.2M	$233K	10x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0982% / S −0.1195%	1h	570.80	−0.207%	$594K	—	100x	as long as short
SoDEX XMR-USD	+0.1052%	1h	572.08	+0.017%	$435K	$4K	5x	as long as short
Orderly PERP_XMR_USDClong	+0.1092%	8h	571.98	long leg	$41K	$394K	10x
Backpack XMR_USDC_PERP	+0.1190%	1h	571.92	−0.010%	$128K	$415K	20x	as long as short
dYdX XMR-USD	+0.1835%	1h	570.59	−0.242%	$103K	$26K	5x	as long as short
Aftermath Perps XMRUSD	+0.2052%	1h	571.86	−0.020%	$1K	$38K	10x	as long as short