Funding arb · Price arb /

XMR

all XMR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.1543%/8h= +168.9% APRpaid last 24h +0.016%

Price spread now: Hyperliquid against BloFin+0.138%107s7-day average −0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$64as 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−$440.435% of the position

Long on BloFin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.200%−$20 on $10k

Price spread, last 3 days (all we have)−0.209%−$21 · spread now +0.138%, 7d avg −0.048%

Together, before fees−0.409%+ Points / potential airdropHyperliquid: Season 2 · farm board−$41 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$46 a day on $10k at the current rate, and Hyperliquid is 0.186% dearer against BloFin than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of −0.048%. Mind the row above: over the last 7 days funding on this pair cost −0.200%, so the current rate has only just turned in your favour. The two prices were read 107 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.200% in total (about -10.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin XMR-USDT	592.49	0.0604	pay 0.0604% / 8h	7h 35m	$2.8M	$11.7M	75x
Short	Hyperliquid XMR	593.31	0.2147	get 0.0268% / 1h	35m 17s	$89.9M	$72.4M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BloFin. 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 BloFinbpFee HyperliquidbpOrdersPrice spread, now +0.138%Rate

Funding earned: $323.94
Price spread: +0.138% → −0.048%: $18.6
Slippage, 4 orders: −$22.51
Fee BloFin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $299.03
Costs to cover: 0.435%
Break-even: 0.5 days

Slippage from BloFin: live order book, 4 min ago; Hyperliquid: live order book, 8 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 BloFin live order book, 4 min ago	0.76 bp	8.5 bp −$9	12.2 bp −$122	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 8 min ago	1.27 bp	8.7 bp −$9	doesn't fit	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 −0.0009%	1h	591.47	−0.173%	$45K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	596.76	+0.721%	$3K	$4K	12x	as long as short
dYdX XMR-USD	+0.0076%	1h	591.47	−0.172%	$107K	$50K	5x	as long as short
edgeX XMRUSDC	+0.0100%	4h	592.20	−0.049%	$1.1M	$659K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	591.93	−0.095%	$2K	$2.0M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	591.95	−0.091%	$1.1M	$1.5M	20x	as long as short
Aevo XMR-PERP	+0.0184%	1h	592.87	+0.065%	$12K	—	3x	as long as short
MEXC XMR_USDT	+0.0422%	8h	592.52	+0.005%	$21.6M	$15.2M	100x	as long as short
Binance XMRUSDT	+0.0425%	8h	592.71	+0.037%	$54.2M	$166.9M	75x	as long as short
Bitget XMRUSDT	+0.0522%	8h	592.92	+0.073%	$9.8M	$14.4M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin XMR-USDTlong	+0.0604%	8h	592.49	long leg	$2.8M	$11.7M	75x
Aster XMRUSDT	+0.0637%	8h	592.41	−0.014%	$655K	$2.5M	75x	as long as short
Kraken Futures PF_XMRUSD	+0.0643%	1h	591.78	−0.119%	$5.6M	$20.5M	50x	as long as short
Pacifica XMR	+0.0659%	1h	592.75	+0.044%	$278K	$1.1M	10x	as long as short
KuCoin XMRUSDTM	+0.0676%	8h	592.32	−0.029%	$48.5M	$26.1M	50x	as long as short
Variational Omni XMR	+0.0813%	8h	593.30	+0.137%	$6.8M	$2.6M	—	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0872% / S −0.2452%	1h	591.59	−0.152%	$550K	—	100x	as long as short
Backpack XMR_USDC_PERP	+0.0962%	1h	592.45	−0.007%	$201K	$526K	20x	as long as short
Gate XMR_USDT	+0.1007%	8h	592.36	−0.022%	$1.6M	$4.6M	50x	as long as short
Orderly PERP_XMR_USDC	+0.1027%	8h	592.79	+0.051%	$42K	$738K	10x	as long as short
Paradex XMR-USD-PERP	+0.1170%	8h	592.48	−0.002%	$8K	$4K	20x	as long as short
Lighter XMR	+0.1240%	1h	592.66	+0.029%	$3.3M	$7.1M	10x	as long as short
Polymarket Perps XMR-USD	+0.1317%	1h	592.65	+0.027%	$48K	$1.9M	5x	as long as short
GRVT XMR_USDT_Perp	+0.1340%	8h	593.01	+0.088%	$350K	$804K	10x	as long as short
Nado XMR-PERP	+0.1387%	1h	592.68	+0.032%	$1.3M	$467K	10x	as long as short
SoDEX XMR-USD	+0.1447%	1h	592.94	+0.076%	$451K	$3K	5x	as long as short
BingX XMR-USDT	+0.1447%	8h	592.92	+0.073%	—	$5.8M	—	as long as short
Bybit XMRUSDT	+0.1458%	8h	592.94	+0.076%	$47.8M	$64.5M	75x	as long as short
Hyperliquid XMRshort	+0.2147%	1h	593.31	+0.138%	$89.9M	$72.4M	5x
Extended XMR-USD	+0.2456%	1h	592.90	+0.069%	$3.2M	$7.9M	25x	as long as short
Aftermath Perps XMRUSD	+0.2558%	1h	591.94	−0.093%	$1K	$46K	10x	as long as short