Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0519%/8h= −56.8% APRpaid last 24h −0.102%

Price spread now: Bybit against Pacifica−0.070%7-day average +0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$500.500% of the position

Long on Pacifica Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.268%−$27 on $10k

Price spread, last 7 days+0.049%+$5 · spread now −0.070%, 7d avg +0.001%

Together, before fees−0.219%+ Points / potential airdropPacifica: Active · farm board−$22 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and Bybit is 0.071% cheaper against Pacifica than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.001%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.268% in total (about -14.0% 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	Pacifica XMR	596.88	0.0619	pay 0.0077% / 1h	15m 38s	$272K	$1.0M	10x
Short	Bybit XMRUSDT	596.46	0.0100	get 0.0100% / 8h	2h 15m	$47.9M	$61.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Pacifica. 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 PacificabpFee BybitbpOrdersPrice spread, now −0.070%Rate

Funding earned: −$108.93
Price spread: −0.070% → +0.001%: −$7.13
Slippage, 4 orders: −$31.04
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$166.09
Costs to cover: 0.500%
Break-even: never at this rate

Slippage from Pacifica: live order book, 3 min ago; Bybit: live order book, 3 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 Pacifica live order book, 3 min ago	3.93 bp	10.3 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.08 bp	12.2 bp −$12	27.8 bp −$278	107.2 bp −$10.7K	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	595.82	−0.177%	$45K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	591.89	−0.836%	$3K	$6K	12x	as long as short
Bybit XMRUSDTshort	+0.0100%	8h	596.46	−0.070%	$47.9M	$61.0M	75x
edgeX XMRUSDC	+0.0100%	4h	597.88	+0.167%	$1.1M	$674K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	595.88	−0.168%	$2K	$1.9M	20x	as long as short
Aevo XMR-PERP	+0.0168%	1h	596.72	−0.027%	$12K	—	3x	as long as short
Variational Omni XMR	+0.0272%	8h	595.94	−0.158%	$6.9M	$2.8M	—	as long as short
Polymarket Perps XMR-USD	+0.0281%	1h	596.89	+0.002%	$24K	$1.8M	5x	as long as short
Lighter XMR	+0.0296%	1h	596.67	−0.036%	$3.5M	$6.7M	10x	as long as short
Binance XMRUSDT	+0.0348%	8h	596.71	−0.028%	$54.7M	$162.3M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Backpack XMR_USDC_PERP	+0.0352%	1h	596.11	−0.129%	$203K	$576K	20x	as long as short
MEXC XMR_USDT	+0.0352%	8h	596.71	−0.028%	$22.8M	$15.3M	100x	as long as short
BingX XMR-USDT	+0.0365%	8h	596.58	−0.050%	—	$5.8M	—	as long as short
Bitget XMRUSDT	+0.0381%	8h	597.04	+0.027%	$9.9M	$14.2M	50x	as long as short
SoDEX XMR-USD	+0.0396%	1h	596.44	−0.074%	$453K	$3K	5x	as long as short
Gate XMR_USDT	+0.0410%	8h	596.24	−0.107%	$1.6M	$4.5M	50x	as long as short
BloFin XMR-USDT	+0.0498%	8h	597.11	+0.039%	$2.8M	$11.4M	75x	as long as short
Aster XMRUSDT	+0.0539%	8h	596.64	−0.041%	$674K	$2.3M	75x	as long as short
KuCoin XMRUSDTM	+0.0585%	8h	596.45	−0.072%	$49.3M	$25.5M	50x	as long as short
Kraken Futures PF_XMRUSD	+0.0611%	1h	595.46	−0.238%	$5.7M	$20.4M	50x	as long as short
GRVT XMR_USDT_Perp	+0.0611%	8h	597.24	+0.060%	$350K	$782K	10x	as long as short
Pacifica XMRlong	+0.0619%	1h	596.88	long leg	$272K	$1.0M	10x
dYdX XMR-USD	+0.0743%	1h	595.71	−0.196%	$108K	$50K	5x	as long as short
Paradex XMR-USD-PERP	+0.0773%	8h	596.88	+0.001%	$8K	$4K	20x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0864% / S −0.1487%	1h	595.67	−0.202%	$369K	—	100x	as long as short
Orderly PERP_XMR_USDC	+0.0902%	8h	596.38	−0.084%	$48K	$718K	10x	as long as short
Nado XMR-PERP	+0.0977%	1h	596.74	−0.024%	$1.3M	$478K	10x	as long as short
Extended XMR-USD	+0.1264%	1h	596.59	−0.048%	$3.1M	$6.8M	25x	as long as short
Hyperliquid XMR	+0.1588%	1h	597.61	+0.122%	$87.5M	$66.3M	5x	as long as short
HTX XMR-USDT	+0.2261%	8h	596.31	−0.095%	$1.1M	$1.4M	20x	as long as short
Aftermath Perps XMRUSD	+0.2310%	1h	596.80	−0.014%	$2K	$47K	10x	as long as short