Funding you earn now, next payment 07:00 UTC−0.0773%/8h= −84.6% APRnext payment −$0.97 per $10,000 · paid last 24h −0.071%
Price spread now: Lighter against Backpack−0.004%54s7-day average +0.051% · you buy dearer than you sell
Net, funding: paid 7d − costs−$103as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$270.266% of the position
Funding, last 7 days−0.763%−$76 on $10k
+Price spread, last 4 days (all we have)−0.041%−$4 · spread now −0.004%, 7d avg +0.051%
=Together, before fees−0.805%+ Points / potential airdropLighter: Season 3 · farm board−$80 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$23 a day on $10k at the current rate, and Lighter is 0.055% cheaper against Backpack than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.051%). Swap the legs. The two prices were read 54 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 | Backpack XMR_USDC_PERP | 576.60 | 0.0973 | pay 0.0122% / 1h | 4m 18s | $175K | $479K | 20x |
| Short | Lighter XMR | 576.58 | 0.0200 | get 0.0025% / 1h | 4m 18s | $3.1M | $6.2M | 10x |
Backpack XMR_USDC_PERP
Lighter XMRFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- −$162.26
- Price spread: −0.004% → +0.051%
- −$5.52
- Slippage, 4 orders
- −$16.64
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$194.42
- Costs to cover
- 0.266%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 39 min ago; Lighter: live order book, 4 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, 39 min ago | 1.22 bp | 8.5 bp −$8 | 34.9 bp −$349 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 4 min ago | 2.54 bp | 9.0 bp −$9 | 19.8 bp −$198 | 117.6 bp −$11.8K | 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 | 575.69 | −0.158% | $32K | — | 150x | as long as short |
| Injective XMR/USDC PERP | +0.0033% | 1h | 582.55 | +1.032% | $3K | $3K | 12x | as long as short |
| edgeX XMRUSDC | +0.0100% | 4h | 578.14 | +0.267% | $1.0M | $561K | 10x | as long as short |
| SunX XMR-USDT | +0.0100% | 8h | 575.85 | −0.130% | $2K | $1.4M | 20x | as long as short |
| HTX XMR-USDT | +0.0100% | 8h | 577.07 | +0.082% | $1.1M | $1.3M | 20x | as long as short |
| Extended XMR-USD | +0.0120% | 1h | 576.28 | −0.056% | $3.0M | $8.0M | 25x | as long as short |
| Lighter XMRshort | +0.0200% | 1h | 576.58 | −0.004% | $3.1M | $6.2M | 10x | |
| Aevo XMR-PERP | +0.0232% | 1h | 576.74 | +0.025% | $12K | — | 3x | as long as short |
| KuCoin XMRUSDTM | +0.0297% | 8h | 576.32 | −0.049% | $45.6M | $20.8M | 50x | as long as short |
| Polymarket Perps XMR-USD | +0.0397% | 1h | 576.11 | −0.085% | $26K | $1.8M | 5x | as long as short |
gTrade (Gains Network) XMR/USD
Injective XMR/USDC PERP
edgeX XMRUSDC
SunX XMR-USDT
HTX XMR-USDT
Extended XMR-USD
Aevo XMR-PERP
KuCoin XMRUSDTM
Polymarket Perps XMR-USDShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| dYdX XMR-USD | +0.0435% | 1h | 575.57 | −0.179% | $104K | $42K | 5x | as long as short |
| Bybit XMRUSDT | +0.0569% | 8h | 576.67 | +0.012% | $46.9M | $55.4M | 75x | as long as short |
| Bitget XMRUSDT | +0.0579% | 8h | 576.51 | −0.016% | $9.6M | $11.1M | 50x | as long as short |
| BingX XMR-USDT | +0.0588% | 8h | 576.58 | −0.003% | — | $5.3M | — | as long as short |
| Binance XMRUSDT | +0.0603% | 8h | 576.23 | −0.065% | $52.4M | $122.0M | 75x | as long as short |
| MEXC XMR_USDT | +0.0608% | 8h | 576.37 | −0.040% | $20.2M | $14.5M | 100x | as long as short |
| Kraken Futures PF_XMRUSD | +0.0631% | 1h | 575.66 | −0.163% | $5.4M | $12.4M | 50x | as long as short |
| Gate XMR_USDT | +0.0643% | 8h | 576.03 | −0.099% | $1.6M | $3.3M | 50x | as long as short |
| Paradex XMR-USD-PERP | +0.0688% | 8h | 576.43 | −0.030% | $8K | $3K | 20x | as long as short |
| Hyperliquid XMR | +0.0718% | 1h | 576.24 | −0.063% | $87.3M | $63.0M | 5x | as long as short |
| Aster XMRUSDT | +0.0761% | 8h | 576.20 | −0.069% | $644K | $1.8M | 75x | as long as short |
| SoDEX XMR-USD | +0.0793% | 1h | 576.43 | −0.029% | $438K | $3K | 5x | as long as short |
| Nado XMR-PERP | +0.0851% | 1h | 576.38 | −0.038% | $1.3M | $420K | 10x | as long as short |
| GRVT XMR_USDT_Perp | +0.0968% | 8h | 577.91 | +0.227% | $335K | $652K | 10x | as long as short |
| BloFin XMR-USDT | +0.0971% | 8h | 577.23 | +0.109% | $2.7M | $10.6M | 75x | as long as short |
| Backpack XMR_USDC_PERPlong | +0.0973% | 1h | 576.60 | long leg | $175K | $479K | 20x | |
| Pacifica XMR | +0.1002% | 1h | 576.76 | +0.028% | $270K | $847K | 10x | as long as short |
| Variational Omni XMR | +0.1032% | 8h | 577.39 | +0.138% | $6.2M | $2.3M | — | as long as short |
| GMX XMR/USD [WBTC.b-USDC] | L +0.1170% / S −0.1566% | 1h | 575.49 | −0.192% | $597K | — | 100x | as long as short |
| Orderly PERP_XMR_USDC | +0.1176% | 8h | 576.32 | −0.049% | $40K | $531K | 10x | as long as short |
| Aftermath Perps XMRUSD | +0.1834% | 1h | 576.34 | −0.045% | $1K | $41K | 10x | as long as short |
dYdX XMR-USD
Bybit XMRUSDT
Bitget XMRUSDT
BingX XMR-USDT
Binance XMRUSDT
MEXC XMR_USDT
Kraken Futures PF_XMRUSD
Gate XMR_USDT
Paradex XMR-USD-PERP
Hyperliquid XMR
Aster XMRUSDT
SoDEX XMR-USD
Nado XMR-PERP
GRVT XMR_USDT_Perp
BloFin XMR-USDT
Pacifica XMR
Variational Omni XMR
GMX XMR/USD [WBTC.b-USDC]
Orderly PERP_XMR_USDC
Aftermath Perps XMRUSD