Funding arb · Price arb /

XMR

all XMR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0578%/8h= −63.3% APRpaid last 24h −0.129%

Price spread now: KuCoin against Backpack+0.044%7-day average −0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$149as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$430.428% of the position

Long on Backpack Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−1.065%−$107 on $10k

Price spread, last 4 days (all we have)−0.211%−$21 · spread now +0.044%, 7d avg −0.015%

Together, before fees−1.276%−$128 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.058% dearer against Backpack than usual: you sell high and buy low (spread +0.044% now, against its 7-day average of −0.015%): +$6 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 8 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack XMR_USDC_PERP	574.67	0.0892	pay 0.0111% / 1h	29m 57s	$174K	$503K	20x
Short	KuCoin XMRUSDTM	574.92	0.0314	get 0.0314% / 8h	1h 29m	$45.3M	$23.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Backpack. 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 BackpackbpFee KuCoinbpOrdersPrice spread, now +0.044%Rate

Funding earned: −$121.33
Price spread: +0.044% → −0.015%: $5.85
Slippage, 4 orders: −$20.84
Fee Backpack: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$158.32
Costs to cover: 0.428%
Break-even: never at this rate

Slippage from Backpack: live order book, 14 min ago; KuCoin: live order book, 9 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, 14 min ago	1.22 bp	8.5 bp −$8	34.9 bp −$349	doesn't fit	doesn't fit
Sell KuCoin live order book, 9 min ago	3.15 bp	13.1 bp −$13	37.9 bp −$379	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 −0.0004%	1h	573.96	−0.123%	$32K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	582.55	+1.371%	$3K	$3K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	574.12	−0.096%	$1.0M	$633K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	574.33	−0.059%	$2K	$1.6M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	574.00	−0.117%	$1.1M	$1.5M	20x	as long as short
Aevo XMR-PERP	+0.0240%	1h	574.41	−0.046%	$12K	—	3x	as long as short
Lighter XMR	+0.0304%	1h	575.07	+0.070%	$3.1M	$6.2M	10x	as long as short
KuCoin XMRUSDTMshort	+0.0314%	8h	574.92	+0.044%	$45.3M	$23.5M	50x
Extended XMR-USD	+0.0344%	1h	574.84	+0.030%	$3.0M	$8.3M	25x	as long as short
Polymarket Perps XMR-USD	+0.0496%	1h	574.91	+0.042%	$23K	$2.0M	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget XMRUSDT	+0.0590%	8h	575.27	+0.104%	$9.5M	$11.8M	50x	as long as short
BingX XMR-USDT	+0.0612%	8h	575.08	+0.071%	—	$5.4M	—	as long as short
Kraken Futures PF_XMRUSD	+0.0633%	1h	574.11	−0.097%	$5.4M	$16.6M	50x	as long as short
MEXC XMR_USDT	+0.0635%	8h	575.15	+0.084%	$20.1M	$14.4M	100x	as long as short
Binance XMRUSDT	+0.0635%	8h	575.08	+0.071%	$52.3M	$138.9M	75x	as long as short
Bybit XMRUSDT	+0.0637%	8h	574.85	+0.031%	$46.6M	$59.5M	75x	as long as short
Gate XMR_USDT	+0.0666%	8h	574.65	−0.003%	$1.5M	$3.3M	50x	as long as short
dYdX XMR-USD	+0.0700%	1h	573.82	−0.148%	$104K	$43K	5x	as long as short
Aster XMRUSDT	+0.0794%	8h	575.23	+0.097%	$637K	$2.0M	75x	as long as short
Hyperliquid XMR	+0.0818%	1h	574.91	+0.042%	$87.1M	$65.9M	5x	as long as short
Paradex XMR-USD-PERP	+0.0819%	8h	575.72	+0.183%	$8K	$3K	20x	as long as short
Backpack XMR_USDC_PERPlong	+0.0892%	1h	574.67	long leg	$174K	$503K	20x
SoDEX XMR-USD	+0.0958%	1h	575.10	+0.075%	$437K	$3K	5x	as long as short
Nado XMR-PERP	+0.0987%	1h	575.43	+0.133%	$1.3M	$444K	10x	as long as short
GRVT XMR_USDT_Perp	+0.0994%	8h	574.39	−0.049%	$343K	$711K	10x	as long as short
Pacifica XMR	+0.1002%	1h	575.42	+0.130%	$265K	$927K	10x	as long as short
BloFin XMR-USDT	+0.1047%	8h	574.93	+0.045%	$2.7M	$10.8M	75x	as long as short
Variational Omni XMR	+0.1099%	8h	574.60	−0.011%	$6.2M	$2.4M	—	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.1136% / S −0.1500%	1h	573.80	−0.151%	$595K	—	100x	as long as short
Orderly PERP_XMR_USDC	+0.1187%	8h	574.89	+0.038%	$40K	$588K	10x	as long as short
Aftermath Perps XMRUSD	+0.1931%	1h	574.14	−0.092%	$1K	$41K	10x	as long as short