Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0362%/8h= −39.6% APRpaid last 24h −0.062%

Price spread now: Lighter against BloFin−0.144%60s7-day average −0.053% · you buy dearer than you sell

Net, funding: paid 7d − costs−$52as 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−$360.364% of the position

Long on BloFin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.154%−$15 on $10k

Price spread, last 3 days (all we have)+0.023%+$2 · spread now −0.144%, 7d avg −0.053%

Together, before fees−0.131%+ Points / potential airdropLighter: Season 3 · farm board−$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Lighter is 0.092% cheaper against BloFin than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.053%). Swap the legs. The two prices were read 60 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 -0.154% in total (about -8.0% 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	600.63	0.0458	pay 0.0458% / 8h	39m 57s	$2.8M	$11.7M	75x
Short	Lighter XMR	599.76	0.0096	get 0.0012% / 1h	39m 57s	$3.4M	$6.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.144%Rate

Funding earned: −$76
Price spread: −0.144% → −0.053%: −$9.15
Slippage, 4 orders: −$24.41
Fee BloFin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$121.56
Costs to cover: 0.364%
Break-even: never at this rate

Slippage from BloFin: live order book, 4 min ago; Lighter: live order book, 3 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	0.08 bp	15.8 bp −$16	27.7 bp −$277	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	2.63 bp	5.7 bp −$6	16.2 bp −$162	136.7 bp −$13.7K	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	599.35	−0.213%	$45K	—	150x	as long as short
Lighter XMRshort	+0.0096%	1h	599.76	−0.144%	$3.4M	$6.9M	10x
Bybit XMRUSDT	+0.0100%	8h	600.37	−0.043%	$49.2M	$63.0M	75x	as long as short
edgeX XMRUSDC	+0.0100%	4h	600.66	+0.006%	$1.1M	$667K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	599.31	−0.220%	$2K	$2.0M	20x	as long as short
Aevo XMR-PERP	+0.0160%	1h	599.97	−0.109%	$12K	—	3x	as long as short
Backpack XMR_USDC_PERP	+0.0262%	1h	599.50	−0.188%	$204K	$575K	20x	as long as short
Binance XMRUSDT	+0.0325%	8h	600.16	−0.078%	$55.0M	$164.2M	75x	as long as short
MEXC XMR_USDT	+0.0325%	8h	599.96	−0.112%	$22.3M	$14.9M	100x	as long as short
BingX XMR-USDT	+0.0408%	8h	600.48	−0.025%	—	$5.8M	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni XMR	+0.0413%	8h	600.72	+0.015%	$6.9M	$2.6M	—	as long as short
Bitget XMRUSDT	+0.0431%	8h	600.19	−0.073%	$10.0M	$14.3M	50x	as long as short
BloFin XMR-USDTlong	+0.0458%	8h	600.63	long leg	$2.8M	$11.7M	75x
Kraken Futures PF_XMRUSD	+0.0459%	1h	599.21	−0.237%	$5.7M	$20.5M	50x	as long as short
Gate XMR_USDT	+0.0508%	8h	599.79	−0.140%	$1.7M	$4.6M	50x	as long as short
Pacifica XMR	+0.0565%	1h	600.42	−0.035%	$282K	$1.1M	10x	as long as short
KuCoin XMRUSDTM	+0.0573%	8h	599.69	−0.157%	$49.0M	$26.0M	50x	as long as short
Aster XMRUSDT	+0.0587%	8h	600.00	−0.105%	$685K	$2.4M	75x	as long as short
GRVT XMR_USDT_Perp	+0.0604%	8h	600.62	−0.002%	$352K	$794K	10x	as long as short
SoDEX XMR-USD	+0.0632%	1h	600.18	−0.075%	$456K	$3K	5x	as long as short
Polymarket Perps XMR-USD	+0.0668%	1h	600.15	−0.080%	$23K	$1.8M	5x	as long as short
Paradex XMR-USD-PERP	+0.0852%	8h	600.20	−0.072%	$8K	$4K	20x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0888% / S −0.2522%	1h	599.24	−0.232%	$570K	—	100x	as long as short
Orderly PERP_XMR_USDC	+0.0942%	8h	599.88	−0.125%	$44K	$729K	10x	as long as short
Nado XMR-PERP	+0.1118%	1h	600.16	−0.078%	$1.3M	$475K	10x	as long as short
Injective XMR/USDC PERP	+0.1312%	1h	596.76	−0.644%	$3K	$6K	12x	as long as short
Hyperliquid XMR	+0.1632%	1h	600.79	+0.027%	$90.6M	$70.4M	5x	as long as short
Extended XMR-USD	+0.1760%	1h	600.07	−0.093%	$3.2M	$6.9M	25x	as long as short
HTX XMR-USDT	+0.1993%	8h	599.55	−0.180%	$1.1M	$1.5M	20x	as long as short
Aftermath Perps XMRUSD	+0.2309%	1h	600.17	−0.076%	$2K	$47K	10x	as long as short
dYdX XMR-USD	+0.2663%	1h	599.72	−0.151%	$109K	$50K	5x	as long as short