Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0477%/8h= −52.2% APRpaid last 24h +0.019%

Price spread now: BingX against Polymarket Perps−0.259%7-day average +0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$380.383% of the position

Long on Polymarket Perps Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.322%−$32 on $10k

Price spread, last 7 days+0.247%+$25 · spread now −0.259%, 7d avg +0.008%

Together, before fees−0.076%−$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and BingX is 0.267% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$27 if the spread goes back to its 7-day average of +0.008%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.322% in total (about -16.8% 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	Polymarket Perps XMR-USD	597.57	0.0871	pay 0.0109% / 1h	22m 53s	$23K	$1.8M	5x
Short	BingX XMR-USDT	596.02	0.0394	get 0.0394% / 8h	1h 22m	—	$5.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.259%Rate

Funding earned: −$100.14
Price spread: −0.259% → +0.008%: −$26.75
Slippage, 4 orders: −$20.29
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee BingX: 5 bp × 2 orders: −$10
Net: −$165.18
Costs to cover: 0.383%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 1 min ago; BingX: live order book, 2 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, 1 min ago	2.68 bp	7.5 bp −$7	7.6 bp −$76	doesn't fit	doesn't fit
Sell BingX live order book, 2 min ago	0.58 bp	12.7 bp −$13	28.4 bp −$284	87.0 bp −$8,701	540.0 bp −$270.0K

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	596.43	−0.191%	$44K	—	150x	as long as short
Bybit XMRUSDT	+0.0100%	8h	595.98	−0.266%	$48.3M	$61.7M	75x	as long as short
edgeX XMRUSDC	+0.0100%	4h	597.29	−0.046%	$1.1M	$664K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	596.79	−0.131%	$2K	$1.9M	20x	as long as short
Aevo XMR-PERP	+0.0160%	1h	597.65	+0.014%	$12K	—	3x	as long as short
Variational Omni XMR	+0.0282%	8h	597.79	+0.037%	$6.9M	$2.6M	—	as long as short
MEXC XMR_USDT	+0.0330%	8h	595.50	−0.346%	$22.3M	$15.0M	100x	as long as short
Binance XMRUSDT	+0.0333%	8h	595.77	−0.302%	$54.6M	$163.0M	75x	as long as short
Kraken Futures PF_XMRUSD	+0.0382%	1h	596.24	−0.223%	$5.7M	$20.4M	50x	as long as short
Pacifica XMR	+0.0387%	1h	597.57	0.000%	$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-USDTshort	+0.0394%	8h	596.02	−0.259%	—	$5.7M	—
Bitget XMRUSDT	+0.0415%	8h	595.65	−0.321%	$9.9M	$14.2M	50x	as long as short
BloFin XMR-USDT	+0.0469%	8h	597.41	−0.027%	$2.8M	$11.5M	75x	as long as short
KuCoin XMRUSDTM	+0.0539%	8h	595.43	−0.358%	$48.5M	$25.9M	50x	as long as short
Gate XMR_USDT	+0.0545%	8h	595.43	−0.358%	$1.7M	$4.6M	50x	as long as short
Aster XMRUSDT	+0.0546%	8h	596.40	−0.196%	$680K	$2.4M	75x	as long as short
Lighter XMR	+0.0584%	1h	596.88	−0.115%	$3.4M	$6.9M	10x	as long as short
GRVT XMR_USDT_Perp	+0.0603%	8h	597.88	+0.052%	$355K	$785K	10x	as long as short
Injective XMR/USDC PERP	+0.0695%	1h	596.76	−0.136%	$3K	$6K	12x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0808% / S −0.1288%	1h	596.13	−0.242%	$331K	—	100x	as long as short
Polymarket Perps XMR-USDlong	+0.0871%	1h	597.57	long leg	$23K	$1.8M	5x
Paradex XMR-USD-PERP	+0.0874%	8h	597.36	−0.034%	$8K	$4K	20x	as long as short
SoDEX XMR-USD	+0.0917%	1h	597.25	−0.054%	$454K	$3K	5x	as long as short
Orderly PERP_XMR_USDC	+0.0943%	8h	596.96	−0.102%	$44K	$729K	10x	as long as short
Backpack XMR_USDC_PERP	+0.0985%	1h	596.30	−0.213%	$203K	$575K	20x	as long as short
Nado XMR-PERP	+0.1379%	1h	597.51	−0.010%	$1.3M	$482K	10x	as long as short
dYdX XMR-USD	+0.1746%	1h	596.24	−0.223%	$108K	$50K	5x	as long as short
Extended XMR-USD	+0.1880%	1h	595.57	−0.335%	$3.1M	$6.8M	25x	as long as short
Hyperliquid XMR	+0.1966%	1h	597.01	−0.094%	$88.9M	$68.5M	5x	as long as short
HTX XMR-USDT	+0.1994%	8h	594.00	−0.597%	$1.1M	$1.5M	20x	as long as short
Aftermath Perps XMRUSD	+0.2443%	1h	597.06	−0.085%	$2K	$47K	10x	as long as short