Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.3168%/8h= −346.9% APRpaid last 24h −0.311%

Price spread now: MEXC against dYdX+0.251%122s7-day average +0.211% · you sell dearer than you buy

Net, funding: paid 7d − costs−$499as 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−$4124.119% of the position

Long on dYdX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.868%−$87 on $10k

Price spread, last 4 days (all we have)+0.198%+$20 · spread now +0.251%, 7d avg +0.211%

Together, before fees−0.670%−$67 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.040% dearer against dYdX than usual: you sell high and buy low (spread +0.251% now, against its 7-day average of +0.211%): +$4 on $10k if it goes back. Holding the pair costs −$95 a day in funding at the current rate, which eats that in about 1 hour. At the pace of the last 7 days (−0.868% in total) that is about 8 hours. The two prices were read 122 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 -0.868% in total (about -45.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX XMR-USD	566.13	0.3637	pay 0.0455% / 1h	46m 28s	$103K	$24K	5x
Short	MEXC XMR_USDT	567.55	0.0469	get 0.0469% / 8h	5h 46m	$19.3M	$7.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.251%Rate

Funding earned: −$665.24
Price spread: +0.251% → +0.211%: $4.02
Slippage, 4 orders: −$397.88
Fee dYdX: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$1,073.1
Costs to cover: 4.119%
Break-even: never at this rate

Slippage from dYdX: live order book, just now; MEXC: 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, just now	85.58 bp	91.1 bp −$91	91.1 bp −$911	131.4 bp −$13.1K	695.8 bp −$347.9K
Sell MEXC live order book, 5 min ago	0.62 bp	14.6 bp −$15	28.2 bp −$282	60.5 bp −$6,047	187.2 bp −$93.6K

XMR on 31 exchanges

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	566.36	+0.041%	$32K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	582.55	+2.900%	$3K	$3K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	567.38	+0.220%	$1.0M	$464K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	567.05	+0.163%	$2K	$860K	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	567.89	+0.311%	$1.0M	$931K	20x	as long as short
Lighter XMR	+0.0200%	1h	567.42	+0.228%	$3.0M	$4.5M	10x	as long as short
Aevo XMR-PERP	+0.0200%	1h	567.64	+0.267%	$11K	—	3x	as long as short
Polymarket Perps XMR-USD	+0.0359%	1h	567.54	+0.249%	$29K	$1.5M	5x	as long as short
Extended XMR-USD	+0.0464%	1h	567.38	+0.220%	$3.1M	$6.4M	25x	as long as short
Binance XMRUSDT	+0.0466%	8h	567.58	+0.256%	$52.3M	$79.8M	75x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC XMR_USDTshort	+0.0469%	8h	567.55	+0.251%	$19.3M	$7.2M	100x
Aster XMRUSDT	+0.0496%	8h	567.17	+0.184%	$656K	$1.2M	75x	as long as short
Bybit XMRUSDT	+0.0552%	8h	567.64	+0.267%	$46.0M	$41.1M	75x	as long as short
Gate XMR_USDT	+0.0575%	8h	567.12	+0.175%	$1.5M	$2.2M	50x	as long as short
KuCoin XMRUSDTM	+0.0609%	8h	567.54	+0.249%	$45.9M	$14.8M	50x	as long as short
Kraken Futures PF_XMRUSD	+0.0659%	1h	566.51	+0.067%	$5.4M	$6.2M	50x	as long as short
BingX XMR-USDT	+0.0686%	8h	567.61	+0.261%	—	$4.5M	—	as long as short
Paradex XMR-USD-PERP	+0.0718%	8h	567.46	+0.234%	$8K	$1K	20x	as long as short
GRVT XMR_USDT_Perp	+0.0723%	8h	567.98	+0.326%	$339K	$682K	10x	as long as short
Bitget XMRUSDT	+0.0726%	8h	568.05	+0.339%	$9.1M	$8.8M	50x	as long as short
Pacifica XMR	+0.0759%	1h	567.60	+0.259%	$268K	$607K	10x	as long as short
Backpack XMR_USDC_PERP	+0.0765%	1h	567.30	+0.207%	$127K	$406K	20x	as long as short
BloFin XMR-USDT	+0.0794%	8h	567.48	+0.238%	$2.7M	$9.1M	75x	as long as short
Nado XMR-PERP	+0.0809%	1h	567.68	+0.275%	$1.2M	$163K	10x	as long as short
Variational Omni XMR	+0.0835%	8h	567.36	+0.217%	$6.1M	$2.1M	—	as long as short
SoDEX XMR-USD	+0.0882%	1h	567.69	+0.276%	$431K	$4K	5x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0953% / S −0.1160%	1h	566.49	+0.064%	$608K	—	100x	as long as short
Hyperliquid XMR	+0.1038%	1h	567.81	+0.297%	$86.4M	$51.8M	5x	as long as short
Orderly PERP_XMR_USDC	+0.1055%	8h	567.34	+0.214%	$41K	$292K	10x	as long as short
Aftermath Perps XMRUSD	+0.2125%	1h	567.55	+0.252%	$1K	$37K	10x	as long as short
dYdX XMR-USDlong	+0.3637%	1h	566.13	long leg	$103K	$24K	5x