Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0411%/8h= +45.0% APRpaid last 24h +0.036%

Price spread now: Backpack against Variational Omni−0.451%7-day average −0.107% · you buy dearer than you sell

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

Long on Variational Omni Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.537%+$54 on $10k

Price spread, last 4 days (all we have)+0.292%+$29 · spread now −0.451%, 7d avg −0.107%

Together, before fees+0.828%+ Points / potential airdropVariational Omni: Active · farm board+$83 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.344% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.451% now, against its 7-day average of −0.107%). If the spread goes back, that is −$34 on $10k: about 2.8 days of funding at the current rate (+$12 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XMR	572.38	0.0787	pay 0.0787% / 8h	7h 05m	$6.1M	$2.4M	—
Short	Backpack XMR_USDC_PERP	569.80	0.1198	get 0.0150% / 1h	5m 12s	$128K	$415K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee BackpackbpOrdersPrice spread, now −0.451%Rate

Funding earned: $86.32
Price spread: −0.451% → −0.107%: −$34.38
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Backpack: 5 bp × 2 orders: −$10
Net: $41.95
Costs to cover: 0.100%
Break-even: 3.6 days

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Backpack: live order book, 28 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 Variational Omni RFQ quote, 4 min ago	3.59 bp	doesn't fit	13.9 bp −$139	doesn't fit	doesn't fit
Sell Backpack live order book, 28 min ago	0.09 bp	5.2 bp −$5	30.8 bp −$308	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 −0.0005%	1h	571.33	−0.184%	$34K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	582.55	+1.777%	$3K	$3K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	573.11	+0.127%	$1.0M	$529K	10x	as long as short
Polymarket Perps XMR-USD	+0.0100%	1h	570.16	−0.388%	$30K	$1.5M	5x	as long as short
SunX XMR-USDT	+0.0100%	8h	570.66	−0.301%	$2K	$1.1M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	570.00	−0.416%	$1.1M	$1.0M	20x	as long as short
Aevo XMR-PERP	+0.0200%	1h	570.43	−0.341%	$12K	—	3x	as long as short
Lighter XMR	+0.0312%	1h	569.92	−0.429%	$3.0M	$5.5M	10x	as long as short
Kraken Futures PF_XMRUSD	+0.0374%	1h	568.68	−0.646%	$5.4M	$7.6M	50x	as long as short
KuCoin XMRUSDTM	+0.0441%	8h	569.72	−0.465%	$45.2M	$17.1M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate XMR_USDT	+0.0452%	8h	570.76	−0.283%	$1.6M	$2.7M	50x	as long as short
Bybit XMRUSDT	+0.0464%	8h	570.13	−0.393%	$46.2M	$47.1M	75x	as long as short
MEXC XMR_USDT	+0.0468%	8h	570.06	−0.405%	$19.9M	$9.7M	100x	as long as short
Binance XMRUSDT	+0.0468%	8h	570.15	−0.389%	$52.2M	$98.5M	75x	as long as short
Pacifica XMR	+0.0550%	1h	571.65	−0.128%	$270K	$736K	10x	as long as short
BingX XMR-USDT	+0.0561%	8h	570.28	−0.367%	—	$5.1M	—	as long as short
Aster XMRUSDT	+0.0569%	8h	570.30	−0.364%	$655K	$1.5M	75x	as long as short
Hyperliquid XMR	+0.0579%	1h	570.57	−0.316%	$86.6M	$55.9M	5x	as long as short
Extended XMR-USD	+0.0600%	1h	570.34	−0.357%	$3.0M	$7.3M	25x	as long as short
Bitget XMRUSDT	+0.0601%	8h	570.44	−0.339%	$9.3M	$10.1M	50x	as long as short
Paradex XMR-USD-PERP	+0.0716%	8h	571.38	−0.175%	$8K	$1K	20x	as long as short
GRVT XMR_USDT_Perp	+0.0765%	8h	572.81	+0.075%	$333K	$639K	10x	as long as short
Variational Omni XMRlong	+0.0787%	8h	572.38	long leg	$6.1M	$2.4M	—
BloFin XMR-USDT	+0.0789%	8h	570.35	−0.355%	$2.7M	$9.6M	75x	as long as short
Nado XMR-PERP	+0.0977%	1h	570.76	−0.282%	$1.2M	$257K	10x	as long as short
SoDEX XMR-USD	+0.1025%	1h	570.22	−0.377%	$433K	$4K	5x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.1028% / S −0.1284%	1h	571.31	−0.187%	$595K	—	100x	as long as short
Orderly PERP_XMR_USDC	+0.1092%	8h	570.31	−0.362%	$40K	$394K	10x	as long as short
Backpack XMR_USDC_PERPshort	+0.1198%	1h	569.80	−0.451%	$128K	$415K	20x
dYdX XMR-USD	+0.1823%	1h	570.67	−0.299%	$103K	$26K	5x	as long as short
Aftermath Perps XMRUSD	+0.2036%	1h	571.32	−0.185%	$1K	$38K	10x	as long as short