Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0164%/8h= +17.9% APRpaid last 24h +0.062%

Price spread now: Backpack against Paradex−0.029%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Backpack

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—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding pays, the price is against you. Backpack is 0.029% cheaper against Paradex than usual: you would sell low and buy high (spread −0.029% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 14 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex XMR-USD-PERP	597.64	0.0871	pay 0.0871% / 8h	1h 12m	$8K	$4K	20x
Short	Backpack XMR_USDC_PERP	597.47	0.1034	get 0.0129% / 1h	12m 50s	$204K	$575K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Paradex. 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 ParadexbpFee BackpackbpOrdersPrice spread, now −0.029%Rate

Funding earned: $34.37
Price spread: −0.029% → 0.000%: −$2.9
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Backpack: 5 bp × 2 orders: −$10
Net: $17.47
Costs to cover: 0.140%
Break-even: 3.4 days

Slippage unknown: Paradex: no order-book sample; Backpack: 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 Paradex no order-book sample	—	—	—	—	—
Sell Backpack live order book, 6 min ago	1.68 bp	6.7 bp −$7	29.6 bp −$296	doesn't fit	doesn't fit

Paradex: 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	596.75	−0.149%	$44K	—	150x	as long as short
Bybit XMRUSDT	+0.0100%	8h	597.77	+0.021%	$48.6M	$61.9M	75x	as long as short
edgeX XMRUSDC	+0.0100%	4h	597.17	−0.079%	$1.1M	$666K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	596.88	−0.128%	$2K	$1.9M	20x	as long as short
Aevo XMR-PERP	+0.0168%	1h	597.70	+0.009%	$12K	—	3x	as long as short
Variational Omni XMR	+0.0314%	8h	597.50	−0.024%	$6.9M	$2.6M	—	as long as short
Binance XMRUSDT	+0.0338%	8h	597.85	+0.035%	$54.9M	$163.2M	75x	as long as short
MEXC XMR_USDT	+0.0338%	8h	598.13	+0.081%	$22.3M	$15.0M	100x	as long as short
Kraken Futures PF_XMRUSD	+0.0381%	1h	596.81	−0.140%	$5.7M	$20.4M	50x	as long as short
Pacifica XMR	+0.0387%	1h	597.70	+0.009%	$271K	$1.0M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX XMR-USDT	+0.0392%	8h	597.89	+0.041%	—	$5.7M	—	as long as short
Bitget XMRUSDT	+0.0418%	8h	597.71	+0.011%	$10.0M	$14.2M	50x	as long as short
BloFin XMR-USDT	+0.0474%	8h	597.96	+0.053%	$2.8M	$11.6M	75x	as long as short
Gate XMR_USDT	+0.0542%	8h	597.24	−0.068%	$1.7M	$4.6M	50x	as long as short
KuCoin XMRUSDTM	+0.0546%	8h	597.31	−0.056%	$48.7M	$25.8M	50x	as long as short
Lighter XMR	+0.0552%	1h	597.42	−0.037%	$3.4M	$6.9M	10x	as long as short
Aster XMRUSDT	+0.0567%	8h	597.93	+0.048%	$685K	$2.4M	75x	as long as short
GRVT XMR_USDT_Perp	+0.0614%	8h	597.80	+0.027%	$348K	$797K	10x	as long as short
Injective XMR/USDC PERP	+0.0695%	1h	596.76	−0.148%	$3K	$6K	12x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0809% / S −0.1288%	1h	596.58	−0.177%	$331K	—	100x	as long as short
Polymarket Perps XMR-USD	+0.0855%	1h	597.78	+0.023%	$23K	$1.8M	5x	as long as short
Paradex XMR-USD-PERPlong	+0.0871%	8h	597.64	long leg	$8K	$4K	20x
SoDEX XMR-USD	+0.0877%	1h	597.93	+0.048%	$454K	$3K	5x	as long as short
Orderly PERP_XMR_USDC	+0.0950%	8h	597.68	+0.006%	$44K	$729K	10x	as long as short
Backpack XMR_USDC_PERPshort	+0.1034%	1h	597.47	−0.029%	$204K	$575K	20x
Nado XMR-PERP	+0.1270%	1h	597.80	+0.027%	$1.3M	$475K	10x	as long as short
Extended XMR-USD	+0.1880%	1h	597.96	+0.053%	$3.1M	$6.8M	25x	as long as short
Hyperliquid XMR	+0.1935%	1h	598.78	+0.190%	$89.5M	$69.3M	5x	as long as short
dYdX XMR-USD	+0.1944%	1h	596.91	−0.123%	$108K	$50K	5x	as long as short
HTX XMR-USDT	+0.1973%	8h	595.43	−0.370%	$1.1M	$1.5M	20x	as long as short
Aftermath Perps XMRUSD	+0.2416%	1h	597.27	−0.063%	$2K	$46K	10x	as long as short