Funding arb · Price arb /

XMR

all XMR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0011%/8h= −1.2% APRpaid last 24h −0.109%

Price spread now: Bybit against Polymarket Perps−0.162%57s7-day average −0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$91as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$340.342% of the position

Long on Polymarket Perps Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.563%−$56 on $10k

Price spread, last 7 days+0.212%+$21 · spread now −0.162%, 7d avg −0.003%

Together, before fees−0.351%−$35 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Bybit is 0.159% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.003%). Swap the legs. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps XMR-USD	591.44	0.0111	pay 0.0014% / 1h	46m 37s	$24K	$1.8M	5x
Short	Bybit XMRUSDT	590.48	0.0100	get 0.0100% / 8h	2h 46m	$47.2M	$60.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.162%Rate

Funding earned: −$2.37
Price spread: −0.162% → −0.003%: −$15.93
Slippage, 4 orders: −$15.22
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$52.52
Costs to cover: 0.342%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 2 min ago; Bybit: 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, 2 min ago	3.64 bp	7.6 bp −$8	7.7 bp −$77	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	1.01 bp	9.0 bp −$9	28.1 bp −$281	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	590.71	−0.124%	$45K	—	150x	as long as short
dYdX XMR-USD	+0.0013%	1h	590.57	−0.147%	$107K	$49K	5x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	591.89	+0.076%	$3K	$6K	12x	as long as short
Bybit XMRUSDTshort	+0.0100%	8h	590.48	−0.162%	$47.2M	$60.6M	75x
Backpack XMR_USDC_PERP	+0.0100%	1h	590.84	−0.101%	$201K	$558K	20x	as long as short
edgeX XMRUSDC	+0.0100%	4h	591.89	+0.077%	$1.1M	$673K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	590.65	−0.134%	$2K	$1.9M	20x	as long as short
SoDEX XMR-USD	+0.0100%	1h	591.45	+0.002%	$450K	$4K	5x	as long as short
Polymarket Perps XMR-USDlong	+0.0111%	1h	591.44	long leg	$24K	$1.8M	5x
Lighter XMR	+0.0160%	1h	590.79	−0.109%	$3.5M	$6.6M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo XMR-PERP	+0.0176%	1h	591.48	+0.006%	$12K	—	3x	as long as short
Gate XMR_USDT	+0.0320%	8h	590.99	−0.076%	$1.6M	$4.5M	50x	as long as short
Variational Omni XMR	+0.0320%	8h	591.40	−0.007%	$6.9M	$2.8M	—	as long as short
Binance XMRUSDT	+0.0372%	8h	590.84	−0.101%	$54.2M	$161.4M	75x	as long as short
MEXC XMR_USDT	+0.0376%	8h	591.00	−0.074%	$22.7M	$15.2M	100x	as long as short
BingX XMR-USDT	+0.0381%	8h	590.69	−0.127%	—	$5.8M	—	as long as short
Bitget XMRUSDT	+0.0399%	8h	591.21	−0.039%	$9.8M	$13.9M	50x	as long as short
BloFin XMR-USDT	+0.0530%	8h	591.24	−0.034%	$2.8M	$11.2M	75x	as long as short
Aster XMRUSDT	+0.0558%	8h	591.06	−0.065%	$667K	$2.4M	75x	as long as short
Kraken Futures PF_XMRUSD	+0.0616%	1h	590.67	−0.130%	$5.5M	$20.3M	50x	as long as short
Pacifica XMR	+0.0619%	1h	591.13	−0.052%	$268K	$1.0M	10x	as long as short
KuCoin XMRUSDTM	+0.0620%	8h	591.00	−0.074%	$49.1M	$25.4M	50x	as long as short
GRVT XMR_USDT_Perp	+0.0632%	8h	591.98	+0.091%	$347K	$798K	10x	as long as short
Nado XMR-PERP	+0.0729%	1h	591.43	−0.002%	$1.3M	$477K	10x	as long as short
Paradex XMR-USD-PERP	+0.0741%	8h	591.29	−0.025%	$8K	$4K	20x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0839% / S −0.1411%	1h	590.67	−0.131%	$351K	—	100x	as long as short
Orderly PERP_XMR_USDC	+0.0863%	8h	591.39	−0.008%	$48K	$729K	10x	as long as short
Extended XMR-USD	+0.1056%	1h	590.73	−0.120%	$3.1M	$6.8M	25x	as long as short
Hyperliquid XMR	+0.1439%	1h	592.21	+0.130%	$85.9M	$65.2M	5x	as long as short
Aftermath Perps XMRUSD	+0.2261%	1h	591.61	+0.028%	$1K	$47K	10x	as long as short
HTX XMR-USDT	+0.2320%	8h	590.59	−0.144%	$1.1M	$1.4M	20x	as long as short