Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.1007%/8h= −110.2% APRpaid last 24h −0.090%

Price spread now: MEXC against SoDEX+0.137%7-day average +0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$580.582% of the position

Long on SoDEX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.302%−$30 on $10k

Price spread, last 3 days (all we have)−0.129%−$13 · spread now +0.137%, 7d avg +0.009%

Together, before fees−0.431%−$43 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.128% dearer against SoDEX than usual: you sell high and buy low (spread +0.137% now, against its 7-day average of +0.009%): +$13 on $10k if it goes back. Holding the pair costs −$30 a day in funding at the current rate, which eats that in about 10 hours. At the pace of the last 3 days (−0.302% in total) that is about 32 hours.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.302% in total (about -34.6% 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	SoDEX XMR-USD	591.84	0.1433	pay 0.0179% / 1h	31m 34s	$450K	$3K	5x
Short	MEXC XMR_USDT	592.65	0.0426	get 0.0426% / 8h	7h 31m	$21.6M	$15.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against SoDEX. 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 SoDEXbpFee MEXCbpOrdersPrice spread, now +0.137%Rate

Funding earned: −$211.43
Price spread: +0.137% → +0.009%: $12.78
Slippage, 4 orders: −$46.19
Fee SoDEX: 4 bp × 2 orders: −$8
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$256.84
Costs to cover: 0.582%
Break-even: never at this rate

Slippage from SoDEX: live order book, 42 min ago; MEXC: 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 SoDEX live order book, 42 min ago	0.42 bp	12.7 bp −$13	46.3 bp −$463	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	1.01 bp	13.5 bp −$14	31.0 bp −$310	55.4 bp −$5,538	199.7 bp −$99.9K

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	590.66	−0.199%	$45K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	596.76	+0.831%	$3K	$4K	12x	as long as short
dYdX XMR-USD	+0.0065%	1h	591.49	−0.060%	$107K	$50K	5x	as long as short
edgeX XMRUSDC	+0.0100%	4h	592.73	+0.150%	$1.1M	$661K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	591.20	−0.108%	$2K	$2.0M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	591.69	−0.025%	$1.1M	$1.5M	20x	as long as short
Aevo XMR-PERP	+0.0184%	1h	591.81	−0.006%	$12K	—	3x	as long as short
MEXC XMR_USDTshort	+0.0426%	8h	592.65	+0.137%	$21.6M	$15.2M	100x
Binance XMRUSDT	+0.0426%	8h	592.11	+0.046%	$54.1M	$166.8M	75x	as long as short
Bitget XMRUSDT	+0.0533%	8h	592.50	+0.112%	$9.7M	$14.4M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin XMR-USDT	+0.0608%	8h	591.42	−0.071%	$2.7M	$11.6M	75x	as long as short
Aster XMRUSDT	+0.0635%	8h	591.66	−0.030%	$656K	$2.5M	75x	as long as short
Kraken Futures PF_XMRUSD	+0.0644%	1h	590.72	−0.190%	$5.6M	$20.5M	50x	as long as short
Pacifica XMR	+0.0659%	1h	592.65	+0.138%	$278K	$1.1M	10x	as long as short
KuCoin XMRUSDTM	+0.0681%	8h	592.21	+0.063%	$48.6M	$26.0M	50x	as long as short
Variational Omni XMR	+0.0813%	8h	593.30	+0.247%	$6.8M	$2.6M	—	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0871% / S −0.2452%	1h	590.56	−0.216%	$549K	—	100x	as long as short
Gate XMR_USDT	+0.0969%	8h	591.97	+0.022%	$1.6M	$4.6M	50x	as long as short
Backpack XMR_USDC_PERP	+0.0983%	1h	591.50	−0.057%	$201K	$526K	20x	as long as short
Orderly PERP_XMR_USDC	+0.1033%	8h	591.65	−0.032%	$42K	$738K	10x	as long as short
Paradex XMR-USD-PERP	+0.1199%	8h	592.33	+0.082%	$8K	$4K	20x	as long as short
Lighter XMR	+0.1232%	1h	592.56	+0.121%	$3.3M	$7.1M	10x	as long as short
GRVT XMR_USDT_Perp	+0.1256%	8h	593.00	+0.196%	$350K	$804K	10x	as long as short
Polymarket Perps XMR-USD	+0.1284%	1h	591.75	−0.015%	$47K	$1.9M	5x	as long as short
Bybit XMRUSDT	+0.1365%	8h	592.21	+0.063%	$47.7M	$64.5M	75x	as long as short
BingX XMR-USDT	+0.1394%	8h	592.68	+0.142%	—	$5.8M	—	as long as short
Nado XMR-PERP	+0.1417%	1h	591.82	−0.004%	$1.3M	$467K	10x	as long as short
SoDEX XMR-USDlong	+0.1433%	1h	591.84	long leg	$450K	$3K	5x
Hyperliquid XMR	+0.2120%	1h	592.98	+0.193%	$89.9M	$72.6M	5x	as long as short
Extended XMR-USD	+0.2472%	1h	592.52	+0.114%	$3.2M	$7.9M	25x	as long as short
Aftermath Perps XMRUSD	+0.2587%	1h	591.85	+0.001%	$1K	$46K	10x	as long as short