Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0445%/8h= +48.7% APRpaid last 24h −0.153%

Price spread now: Injective against Variational Omni−0.674%76s7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Injective

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Injective is 0.674% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.674% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$67 on $10k: about 5.1 days of funding at the current rate (+$13 a day). The two prices were read 76 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	Variational Omni XMR	595.91	0.0250	pay 0.0250% / 8h	1h 54m	$6.9M	$2.7M	—
Short	Injective XMR/USDC PERP	591.89	0.0695	get 0.0087% / 1h	54m 05s	$3K	$6K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.674%Rate

Funding earned: $93.44
Price spread: −0.674% → 0.000%: −$67.45
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $25.97
Costs to cover: 0.000%
Break-even: 5.1 days

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Injective: no order-book sample. 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, 5 min ago	4.96 bp	doesn't fit	18.7 bp −$187	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	593.41	−0.419%	$44K	—	150x	as long as short
Bybit XMRUSDT	+0.0100%	8h	594.27	−0.275%	$48.0M	$61.4M	75x	as long as short
edgeX XMRUSDC	+0.0100%	4h	597.26	+0.226%	$1.1M	$664K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	594.11	−0.302%	$2K	$1.9M	20x	as long as short
Aevo XMR-PERP	+0.0168%	1h	595.11	−0.135%	$12K	—	3x	as long as short
Variational Omni XMRlong	+0.0250%	8h	595.91	long leg	$6.9M	$2.7M	—
Binance XMRUSDT	+0.0332%	8h	594.42	−0.250%	$54.5M	$162.7M	75x	as long as short
MEXC XMR_USDT	+0.0333%	8h	594.50	−0.237%	$22.6M	$14.9M	100x	as long as short
BingX XMR-USDT	+0.0369%	8h	594.39	−0.255%	—	$5.8M	—	as long as short
Kraken Futures PF_XMRUSD	+0.0384%	1h	593.55	−0.396%	$5.7M	$20.4M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica XMR	+0.0387%	1h	595.04	−0.147%	$270K	$1.0M	10x	as long as short
Bitget XMRUSDT	+0.0392%	8h	594.34	−0.263%	$9.9M	$14.2M	50x	as long as short
Gate XMR_USDT	+0.0444%	8h	594.07	−0.309%	$1.6M	$4.5M	50x	as long as short
BloFin XMR-USDT	+0.0478%	8h	595.88	−0.005%	$2.8M	$11.4M	75x	as long as short
Lighter XMR	+0.0520%	1h	594.13	−0.299%	$3.5M	$6.7M	10x	as long as short
Aster XMRUSDT	+0.0529%	8h	594.16	−0.294%	$673K	$2.3M	75x	as long as short
Polymarket Perps XMR-USD	+0.0549%	1h	594.77	−0.191%	$24K	$1.8M	5x	as long as short
KuCoin XMRUSDTM	+0.0578%	8h	594.16	−0.294%	$48.7M	$25.7M	50x	as long as short
GRVT XMR_USDT_Perp	+0.0594%	8h	597.78	+0.314%	$348K	$782K	10x	as long as short
SoDEX XMR-USD	+0.0683%	1h	594.54	−0.230%	$452K	$3K	5x	as long as short
Injective XMR/USDC PERPshort	+0.0695%	1h	591.89	−0.674%	$3K	$6K	12x
GMX XMR/USD [WBTC.b-USDC]	L +0.0842% / S −0.1415%	1h	593.30	−0.438%	$354K	—	100x	as long as short
Paradex XMR-USD-PERP	+0.0857%	8h	594.99	−0.154%	$8K	$4K	20x	as long as short
Orderly PERP_XMR_USDC	+0.0886%	8h	594.35	−0.262%	$48K	$718K	10x	as long as short
Backpack XMR_USDC_PERP	+0.0948%	1h	593.91	−0.336%	$202K	$574K	20x	as long as short
dYdX XMR-USD	+0.1347%	1h	594.49	−0.238%	$108K	$50K	5x	as long as short
Extended XMR-USD	+0.1624%	1h	594.52	−0.233%	$3.1M	$6.8M	25x	as long as short
Hyperliquid XMR	+0.1743%	1h	595.08	−0.139%	$87.7M	$67.0M	5x	as long as short
Nado XMR-PERP	+0.1809%	1h	594.57	−0.225%	$1.3M	$479K	10x	as long as short
HTX XMR-USDT	+0.2187%	8h	592.51	−0.570%	$1.1M	$1.5M	20x	as long as short
Aftermath Perps XMRUSD	+0.2456%	1h	595.55	−0.061%	$2K	$47K	10x	as long as short