XMR

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0463%/8h= −50.7% APRnext payment −$0.58 per $10,000 · paid last 24h +0.134%

Price spread now: Backpack against Polymarket Perps−0.003%7-day average −0.109% · you buy dearer than you sell

Net, funding: paid 7d − costs+$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$280.278% of the position

Long on Polymarket Perps Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.604%+$60 on $10k

Price spread, last 4 days (all we have)−0.794%−$79 · spread now −0.003%, 7d avg −0.109%

Together, before fees−0.190%−$19 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Backpack is 0.106% dearer against Polymarket Perps than usual: you sell high and buy low (spread −0.003% now, against its 7-day average of −0.109%): +$11 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 18 hours. Mind the row above: over the last 7 days funding on this pair paid +0.604%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps XMR-USD	599.14	0.0705	pay 0.0088% / 1h	34m 05s	$22K	$1.7M	5x
Short	Backpack XMR_USDC_PERP	599.12	0.0241	get 0.0030% / 1h	34m 05s	$204K	$575K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Polymarket Perps. 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 Polymarket PerpsbpFee BackpackbpOrdersPrice spread, now −0.003%Rate

Funding earned: −$97.25
Price spread: −0.003% → −0.109%: $10.56
Slippage, 4 orders: −$9.76
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$114.46
Costs to cover: 0.278%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 5 min ago; Backpack: live order book, 45 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 Polymarket Perps live order book, 5 min ago	2.75 bp	7.2 bp −$7	8.0 bp −$80	doesn't fit	doesn't fit
Sell Backpack live order book, 45 min ago	1.68 bp	6.7 bp −$7	29.6 bp −$296	doesn't fit	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	597.85	−0.215%	$45K	—	150x	as long as short
Bybit XMRUSDT	+0.0100%	8h	599.80	+0.110%	$49.1M	$63.1M	75x	as long as short
edgeX XMRUSDC	+0.0100%	4h	599.04	−0.016%	$1.1M	$664K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	597.82	−0.220%	$2K	$2.0M	20x	as long as short
Lighter XMR	+0.0152%	1h	598.99	−0.025%	$3.4M	$6.9M	10x	as long as short
Aevo XMR-PERP	+0.0160%	1h	598.71	−0.072%	$12K	—	3x	as long as short
Backpack XMR_USDC_PERPshort	+0.0241%	1h	599.12	−0.003%	$204K	$575K	20x
MEXC XMR_USDT	+0.0317%	8h	599.47	+0.055%	$22.3M	$14.9M	100x	as long as short
Binance XMRUSDT	+0.0318%	8h	599.51	+0.062%	$54.9M	$164.3M	75x	as long as short
BingX XMR-USDT	+0.0409%	8h	599.61	+0.078%	—	$5.7M	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget XMRUSDT	+0.0433%	8h	598.81	−0.055%	$10.0M	$14.3M	50x	as long as short
Variational Omni XMR	+0.0439%	8h	599.98	+0.140%	$6.9M	$2.6M	—	as long as short
BloFin XMR-USDT	+0.0446%	8h	598.51	−0.105%	$2.8M	$11.7M	75x	as long as short
Kraken Futures PF_XMRUSD	+0.0459%	1h	598.23	−0.151%	$5.7M	$20.5M	50x	as long as short
Gate XMR_USDT	+0.0504%	8h	598.86	−0.047%	$1.7M	$4.6M	50x	as long as short
Pacifica XMR	+0.0565%	1h	599.19	+0.008%	$281K	$1.1M	10x	as long as short
KuCoin XMRUSDTM	+0.0577%	8h	598.95	−0.032%	$48.9M	$26.0M	50x	as long as short
Aster XMRUSDT	+0.0587%	8h	599.03	−0.019%	$684K	$2.4M	75x	as long as short
GRVT XMR_USDT_Perp	+0.0594%	8h	599.70	+0.094%	$352K	$794K	10x	as long as short
Polymarket Perps XMR-USDlong	+0.0705%	1h	599.14	long leg	$22K	$1.7M	5x
SoDEX XMR-USD	+0.0743%	1h	598.82	−0.053%	$455K	$3K	5x	as long as short
Paradex XMR-USD-PERP	+0.0858%	8h	598.89	−0.041%	$8K	$4K	20x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0883% / S −0.2497%	1h	597.71	−0.239%	$565K	—	100x	as long as short
Orderly PERP_XMR_USDC	+0.0947%	8h	598.71	−0.072%	$44K	$729K	10x	as long as short
Nado XMR-PERP	+0.1187%	1h	598.78	−0.059%	$1.3M	$476K	10x	as long as short
Injective XMR/USDC PERP	+0.1312%	1h	596.76	−0.397%	$3K	$6K	12x	as long as short
Hyperliquid XMR	+0.1739%	1h	599.90	+0.127%	$90.6M	$70.5M	5x	as long as short
Extended XMR-USD	+0.1760%	1h	599.64	+0.083%	$3.2M	$6.9M	25x	as long as short
HTX XMR-USDT	+0.1985%	8h	598.41	−0.122%	$1.1M	$1.5M	20x	as long as short
Aftermath Perps XMRUSD	+0.2315%	1h	599.04	−0.017%	$2K	$47K	10x	as long as short
dYdX XMR-USD	+0.2578%	1h	597.01	−0.355%	$108K	$50K	5x	as long as short