Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.1172%/8h= −128.3% APRpaid last 24h −0.053%

Price spread now: Binance against Hyperliquid−0.100%7-day average +0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$420.425% of the position

Long on Hyperliquid Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.146%−$15 on $10k

Price spread, last 7 days+0.111%+$11 · spread now −0.100%, 7d avg +0.039%

Together, before fees−0.035%+ Points / potential airdropHyperliquid: Season 2 · farm board−$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$35 a day on $10k at the current rate, and Binance is 0.139% cheaper against Hyperliquid than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of +0.039%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.146% in total (about -7.6% 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	Hyperliquid XMR	602.01	0.1501	pay 0.0188% / 1h	49m 51s	$90.7M	$70.0M	5x
Short	Binance XMRUSDT	601.41	0.0329	get 0.0329% / 8h	49m 51s	$55.1M	$164.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Hyperliquid. 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 HyperliquidbpFee BinancebpOrdersPrice spread, now −0.100%Rate

Funding earned: −$246.08
Price spread: −0.100% → +0.039%: −$13.89
Slippage, 4 orders: −$23.48
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$302.45
Costs to cover: 0.425%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 4 min ago; Binance: 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 Hyperliquid live order book, 4 min ago	1.91 bp	8.7 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 8 min ago	0.08 bp	12.5 bp −$13	28.4 bp −$284	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	600.37	−0.272%	$45K	—	150x	as long as short
Bybit XMRUSDT	+0.0100%	8h	601.48	−0.088%	$49.1M	$62.8M	75x	as long as short
edgeX XMRUSDC	+0.0100%	4h	601.91	−0.017%	$1.1M	$665K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	600.39	−0.269%	$2K	$1.9M	20x	as long as short
Lighter XMR	+0.0104%	1h	601.10	−0.151%	$3.4M	$6.9M	10x	as long as short
Aevo XMR-PERP	+0.0168%	1h	601.42	−0.098%	$12K	—	3x	as long as short
Binance XMRUSDTshort	+0.0329%	8h	601.41	−0.100%	$55.1M	$164.0M	75x
MEXC XMR_USDT	+0.0332%	8h	601.15	−0.143%	$22.4M	$14.9M	100x	as long as short
Variational Omni XMR	+0.0386%	8h	600.48	−0.253%	$7.0M	$2.5M	—	as long as short
BingX XMR-USDT	+0.0406%	8h	601.68	−0.055%	—	$5.7M	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget XMRUSDT	+0.0421%	8h	600.97	−0.173%	$10.0M	$14.3M	50x	as long as short
Kraken Futures PF_XMRUSD	+0.0458%	1h	600.03	−0.329%	$5.7M	$20.5M	50x	as long as short
BloFin XMR-USDT	+0.0468%	8h	600.58	−0.238%	$2.8M	$11.7M	75x	as long as short
Backpack XMR_USDC_PERP	+0.0499%	1h	600.82	−0.198%	$205K	$575K	20x	as long as short
Gate XMR_USDT	+0.0527%	8h	600.96	−0.174%	$1.7M	$4.6M	50x	as long as short
Pacifica XMR	+0.0565%	1h	600.49	−0.252%	$283K	$1.0M	10x	as long as short
KuCoin XMRUSDTM	+0.0572%	8h	600.54	−0.244%	$49.0M	$25.9M	50x	as long as short
Aster XMRUSDT	+0.0585%	8h	600.69	−0.220%	$693K	$2.4M	75x	as long as short
SoDEX XMR-USD	+0.0586%	1h	601.13	−0.146%	$457K	$3K	5x	as long as short
GRVT XMR_USDT_Perp	+0.0615%	8h	602.14	+0.021%	$351K	$797K	10x	as long as short
Polymarket Perps XMR-USD	+0.0641%	1h	601.27	−0.123%	$23K	$1.8M	5x	as long as short
Paradex XMR-USD-PERP	+0.0848%	8h	600.45	−0.260%	$8K	$4K	20x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0887% / S −0.2436%	1h	600.24	−0.293%	$555K	—	100x	as long as short
Orderly PERP_XMR_USDC	+0.0952%	8h	600.74	−0.211%	$44K	$729K	10x	as long as short
Nado XMR-PERP	+0.1067%	1h	600.75	−0.208%	$1.3M	$475K	10x	as long as short
Injective XMR/USDC PERP	+0.1312%	1h	596.76	−0.872%	$3K	$6K	12x	as long as short
Hyperliquid XMRlong	+0.1501%	1h	602.01	long leg	$90.7M	$70.0M	5x
Extended XMR-USD	+0.1776%	1h	601.21	−0.132%	$3.2M	$6.9M	25x	as long as short
HTX XMR-USDT	+0.1985%	8h	600.43	−0.262%	$1.1M	$1.5M	20x	as long as short
Aftermath Perps XMRUSD	+0.2306%	1h	600.95	−0.175%	$2K	$46K	10x	as long as short
dYdX XMR-USD	+0.2827%	1h	599.58	−0.404%	$109K	$50K	5x	as long as short