Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.2631%/8h= −288.1% APRpaid last 24h −0.380%

Price spread now: edgeX against dYdX+0.247%51s7-day average +0.207% · you sell dearer than you buy

Net, funding: paid 7d − costs−$563as 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−$4514.510% of the position

Long on dYdX Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−1.124%−$112 on $10k

Price spread, last 3 days (all we have)+0.460%+$46 · spread now +0.247%, 7d avg +0.207%

Together, before fees−0.664%+ Points / potential airdropedgeX: Active · farm board−$66 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.040% dearer against dYdX than usual: you sell high and buy low (spread +0.247% now, against its 7-day average of +0.207%): +$4 on $10k if it goes back. Holding the pair costs −$79 a day in funding at the current rate, which eats that in about 1 hour. At the pace of the last 7 days (−1.124% in total) that is about 6 hours. The two prices were read 51 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 -1.124% in total (about -58.6% 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	dYdX XMR-USD	599.71	0.2731	pay 0.0341% / 1h	44m 01s	$109K	$50K	5x
Short	edgeX XMRUSDC	601.19	0.0100	get 0.0050% / 4h	44m 01s	$1.1M	$667K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against dYdX. 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 dYdXbpFee edgeXbpOrdersPrice spread, now +0.247%Rate

Funding earned: −$552.58
Price spread: +0.247% → +0.207%: $3.99
Slippage, 4 orders: −$432.01
Fee dYdX: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$999.6
Costs to cover: 4.510%
Break-even: never at this rate

Slippage from dYdX: live order book, 35 min ago; edgeX: 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 dYdX live order book, 35 min ago	56.23 bp	127.5 bp −$127	165.3 bp −$1,653	397.2 bp −$39.7K	1441.2 bp −$720.6K
Sell edgeX live order book, 5 min ago	10.22 bp	14.7 bp −$15	15.4 bp −$154	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	599.91	+0.034%	$45K	—	150x	as long as short
Bybit XMRUSDT	+0.0100%	8h	601.62	+0.319%	$49.2M	$62.9M	75x	as long as short
edgeX XMRUSDCshort	+0.0100%	4h	601.19	+0.247%	$1.1M	$667K	10x
SunX XMR-USDT	+0.0100%	8h	599.50	−0.034%	$2K	$2.0M	20x	as long as short
Lighter XMR	+0.0152%	1h	601.04	+0.222%	$3.4M	$6.9M	10x	as long as short
Aevo XMR-PERP	+0.0160%	1h	601.42	+0.286%	$12K	—	3x	as long as short
Backpack XMR_USDC_PERP	+0.0327%	1h	600.86	+0.192%	$205K	$575K	20x	as long as short
MEXC XMR_USDT	+0.0328%	8h	601.50	+0.299%	$22.4M	$14.9M	100x	as long as short
Binance XMRUSDT	+0.0329%	8h	601.24	+0.256%	$55.0M	$164.1M	75x	as long as short
BingX XMR-USDT	+0.0402%	8h	601.61	+0.317%	—	$5.7M	—	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	+0.0406%	8h	602.08	+0.396%	$6.9M	$2.6M	—	as long as short
Bitget XMRUSDT	+0.0429%	8h	601.44	+0.289%	$10.0M	$14.3M	50x	as long as short
Kraken Futures PF_XMRUSD	+0.0458%	1h	600.40	+0.115%	$5.7M	$20.5M	50x	as long as short
BloFin XMR-USDT	+0.0463%	8h	600.53	+0.137%	$2.8M	$11.7M	75x	as long as short
Gate XMR_USDT	+0.0522%	8h	601.00	+0.216%	$1.7M	$4.6M	50x	as long as short
Pacifica XMR	+0.0565%	1h	600.39	+0.114%	$282K	$1.1M	10x	as long as short
KuCoin XMRUSDTM	+0.0577%	8h	601.08	+0.229%	$49.1M	$26.0M	50x	as long as short
Aster XMRUSDT	+0.0588%	8h	600.96	+0.209%	$692K	$2.4M	75x	as long as short
GRVT XMR_USDT_Perp	+0.0609%	8h	601.84	+0.356%	$351K	$786K	10x	as long as short
Polymarket Perps XMR-USD	+0.0733%	1h	601.37	+0.277%	$23K	$1.8M	5x	as long as short
SoDEX XMR-USD	+0.0778%	1h	601.06	+0.226%	$457K	$3K	5x	as long as short
Paradex XMR-USD-PERP	+0.0863%	8h	600.31	+0.101%	$8K	$4K	20x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0888% / S −0.2517%	1h	600.02	+0.052%	$571K	—	100x	as long as short
Orderly PERP_XMR_USDC	+0.0942%	8h	601.08	+0.229%	$44K	$729K	10x	as long as short
Nado XMR-PERP	+0.1167%	1h	600.75	+0.174%	$1.3M	$475K	10x	as long as short
Injective XMR/USDC PERP	+0.1312%	1h	596.76	−0.491%	$3K	$6K	12x	as long as short
Hyperliquid XMR	+0.1683%	1h	601.84	+0.356%	$90.7M	$70.3M	5x	as long as short
Extended XMR-USD	+0.1784%	1h	601.18	+0.246%	$3.2M	$6.9M	25x	as long as short
HTX XMR-USDT	+0.1993%	8h	599.94	+0.039%	$1.1M	$1.5M	20x	as long as short
Aftermath Perps XMRUSD	+0.2341%	1h	601.21	+0.251%	$2K	$46K	10x	as long as short
dYdX XMR-USDlong	+0.2731%	1h	599.71	long leg	$109K	$50K	5x