Funding you earn now, next payment 09:00 UTC−0.0810%/8h= −88.7% APRnext payment −$1.01 per $10,000 · paid last 24h +0.009%
Price spread now: Kraken Futures against Backpack−0.197%7-day average −0.086% · you buy dearer than you sell
Net, funding: paid 7d − costs−$119as in the Funding arb table
Net, price: spread back to 7d avg − costs−$62as in the Price arb table
costs, in and out, $10k−$510.507% of the position
Funding, last 7 days−0.679%−$68 on $10k
+Price spread, last 4 days (all we have)+0.096%+$10 · spread now −0.197%, 7d avg −0.086%
=Both sides work against this trade now: funding costs −$24 a day on $10k at the current rate, and Kraken Futures is 0.112% cheaper against Backpack than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.086%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack XMR_USDC_PERP | 571.84 | 0.1183 | pay 0.0148% / 1h | 24m 03s | $128K | $421K | 20x |
| Short | Kraken Futures PF_XMRUSD | 570.71 | 0.0372 | get 0.0047% / 1h | 24m 03s | $5.4M | $8.6M | 50x |
Backpack XMR_USDC_PERP
Kraken Futures PF_XMRUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$170.11
- Price spread: −0.197% → −0.086%
- −$11.19
- Slippage, 4 orders
- −$30.66
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$231.97
- Costs to cover
- 0.507%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 10 min ago; Kraken Futures: live order book, 5 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 Backpack live order book, 10 min ago | 0.09 bp | 8.6 bp −$9 | 29.4 bp −$294 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 5 min ago | 7.18 bp | 18.0 bp −$18 | 37.3 bp −$373 | 132.3 bp −$13.2K | 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 | 570.02 | −0.318% | $34K | — | 150x | as long as short |
| Injective XMR/USDC PERP | +0.0033% | 1h | 582.55 | +1.873% | $3K | $3K | 12x | as long as short |
| edgeX XMRUSDC | +0.0100% | 4h | 570.97 | −0.152% | $1.0M | $531K | 10x | as long as short |
| Polymarket Perps XMR-USD | +0.0100% | 1h | 570.76 | −0.189% | $30K | $1.6M | 5x | as long as short |
| SunX XMR-USDT | +0.0100% | 8h | 571.15 | −0.121% | $2K | $1.2M | 20x | as long as short |
| HTX XMR-USDT | +0.0100% | 8h | 571.85 | +0.002% | $1.1M | $1.0M | 20x | as long as short |
| Bybit XMRUSDT | +0.0180% | 8h | 572.10 | +0.045% | $46.3M | $48.6M | 75x | as long as short |
| Aevo XMR-PERP | +0.0192% | 1h | 570.76 | −0.189% | $12K | — | 3x | as long as short |
| Gate XMR_USDT | +0.0230% | 8h | 571.23 | −0.107% | $1.5M | $2.7M | 50x | as long as short |
| Lighter XMR | +0.0272% | 1h | 571.71 | −0.023% | $3.0M | $5.5M | 10x | as long as short |
gTrade (Gains Network) XMR/USD
Injective XMR/USDC PERP
edgeX XMRUSDC
Polymarket Perps XMR-USD
SunX XMR-USDT
HTX XMR-USDT
Bybit XMRUSDT
Aevo XMR-PERP
Gate XMR_USDT
Lighter XMRShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin XMRUSDTM | +0.0366% | 8h | 571.22 | −0.108% | $45.2M | $17.4M | 50x | as long as short |
| Kraken Futures PF_XMRUSDshort | +0.0372% | 1h | 570.71 | −0.197% | $5.4M | $8.6M | 50x | |
| Extended XMR-USD | +0.0416% | 1h | 572.01 | +0.030% | $3.0M | $7.4M | 25x | as long as short |
| GRVT XMR_USDT_Perp | +0.0440% | 8h | 570.16 | −0.293% | $334K | $620K | 10x | as long as short |
| MEXC XMR_USDT | +0.0459% | 8h | 572.16 | +0.056% | $19.9M | $9.7M | 100x | as long as short |
| Hyperliquid XMR | +0.0460% | 1h | 571.99 | +0.026% | $86.8M | $57.5M | 5x | as long as short |
| Binance XMRUSDT | +0.0462% | 8h | 572.47 | +0.110% | $52.3M | $102.1M | 75x | as long as short |
| BingX XMR-USDT | +0.0518% | 8h | 572.40 | +0.098% | — | $5.2M | — | as long as short |
| Pacifica XMR | +0.0550% | 1h | 571.61 | −0.041% | $268K | $745K | 10x | as long as short |
| Bitget XMRUSDT | +0.0553% | 8h | 572.58 | +0.129% | $9.2M | $10.2M | 50x | as long as short |
| Aster XMRUSDT | +0.0578% | 8h | 571.27 | −0.099% | $655K | $1.5M | 75x | as long as short |
| Paradex XMR-USD-PERP | +0.0617% | 8h | 571.43 | −0.072% | $8K | $2K | 20x | as long as short |
| Variational Omni XMR | +0.0764% | 8h | 570.37 | −0.257% | $6.2M | $2.3M | — | as long as short |
| BloFin XMR-USDT | +0.0774% | 8h | 570.93 | −0.159% | $2.7M | $9.7M | 75x | as long as short |
| SoDEX XMR-USD | +0.0878% | 1h | 571.97 | +0.023% | $435K | $4K | 5x | as long as short |
| Nado XMR-PERP | +0.0931% | 1h | 571.90 | +0.011% | $1.2M | $309K | 10x | as long as short |
| GMX XMR/USD [WBTC.b-USDC] | L +0.1031% / S −0.1284% | 1h | 570.55 | −0.226% | $594K | — | 100x | as long as short |
| Orderly PERP_XMR_USDC | +0.1083% | 8h | 571.79 | −0.009% | $40K | $407K | 10x | as long as short |
| Backpack XMR_USDC_PERPlong | +0.1183% | 1h | 571.84 | long leg | $128K | $421K | 20x | |
| dYdX XMR-USD | +0.1659% | 1h | 569.25 | −0.453% | $103K | $28K | 5x | as long as short |
| Aftermath Perps XMRUSD | +0.1984% | 1h | 571.46 | −0.067% | $1K | $38K | 10x | as long as short |
KuCoin XMRUSDTM
Extended XMR-USD
GRVT XMR_USDT_Perp
MEXC XMR_USDT
Hyperliquid XMR
Binance XMRUSDT
BingX XMR-USDT
Pacifica XMR
Bitget XMRUSDT
Aster XMRUSDT
Paradex XMR-USD-PERP
Variational Omni XMR
BloFin XMR-USDT
SoDEX XMR-USD
Nado XMR-PERP
GMX XMR/USD [WBTC.b-USDC]
Orderly PERP_XMR_USDC
dYdX XMR-USD
Aftermath Perps XMRUSD