Funding arb · Price arb /

XMR

all XMR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.1124%/8h= +123.1% APRpaid last 24h +0.336%

Price spread now: Orderly against Injective−1.651%58s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Orderly is 1.651% cheaper against Injective than usual: you would sell low and buy high (spread −1.651% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$165 on $10k: about 4.9 days of funding at the current rate (+$34 a day). The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective XMR/USDC PERP	582.55	0.0033	pay 0.0004% / 1h	17m 41s	$3K	$3K	12x
Short	Orderly PERP_XMR_USDC	572.93	0.1158	get 0.1158% / 8h	17m 41s	$40K	$451K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Injective. 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 InjectivebpFee OrderlybpOrdersPrice spread, now −1.651%Rate

Funding earned: $236.13
Price spread: −1.651% → 0.000%: −$165.14
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Orderly: 3 bp × 2 orders: −$6
Net: $64.97
Costs to cover: 0.060%
Break-even: 5.1 days

Slippage unknown: Injective: no order-book sample; Orderly: no order-book sample. Net counts fees only.

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 Injective no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Injective and Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 −0.0004%	1h	571.95	−1.819%	$33K	—	150x	as long as short
Injective XMR/USDC PERPlong	+0.0033%	1h	582.55	long leg	$3K	$3K	12x
edgeX XMRUSDC	+0.0100%	4h	571.98	−1.815%	$1.0M	$532K	10x	as long as short
Polymarket Perps XMR-USD	+0.0100%	1h	572.65	−1.699%	$30K	$1.7M	5x	as long as short
SunX XMR-USDT	+0.0100%	8h	572.51	−1.723%	$2K	$1.3M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	572.95	−1.648%	$1.1M	$1.1M	20x	as long as short
Extended XMR-USD	+0.0104%	1h	572.70	−1.690%	$3.0M	$7.9M	25x	as long as short
Aevo XMR-PERP	+0.0208%	1h	573.06	−1.629%	$12K	—	3x	as long as short
KuCoin XMRUSDTM	+0.0295%	8h	572.59	−1.710%	$45.3M	$18.7M	50x	as long as short
Lighter XMR	+0.0320%	1h	572.51	−1.724%	$3.1M	$5.9M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit XMRUSDT	+0.0445%	8h	572.74	−1.684%	$46.4M	$51.7M	75x	as long as short
Backpack XMR_USDC_PERP	+0.0447%	1h	572.57	−1.713%	$175K	$420K	20x	as long as short
Gate XMR_USDT	+0.0483%	8h	572.32	−1.756%	$1.6M	$2.9M	50x	as long as short
Hyperliquid XMR	+0.0493%	1h	572.65	−1.699%	$87.0M	$60.7M	5x	as long as short
BingX XMR-USDT	+0.0494%	8h	572.87	−1.662%	—	$5.4M	—	as long as short
Bitget XMRUSDT	+0.0515%	8h	572.86	−1.663%	$9.4M	$10.6M	50x	as long as short
MEXC XMR_USDT	+0.0518%	8h	572.77	−1.679%	$20.2M	$11.1M	100x	as long as short
Binance XMRUSDT	+0.0518%	8h	572.56	−1.716%	$52.2M	$111.8M	75x	as long as short
Kraken Futures PF_XMRUSD	+0.0618%	1h	572.09	−1.795%	$5.4M	$9.7M	50x	as long as short
Paradex XMR-USD-PERP	+0.0654%	8h	572.81	−1.673%	$8K	$2K	20x	as long as short
Aster XMRUSDT	+0.0656%	8h	572.60	−1.708%	$640K	$1.7M	75x	as long as short
Pacifica XMR	+0.0735%	1h	572.62	−1.704%	$267K	$788K	10x	as long as short
SoDEX XMR-USD	+0.0741%	1h	573.02	−1.636%	$435K	$3K	5x	as long as short
dYdX XMR-USD	+0.0744%	1h	571.94	−1.822%	$104K	$29K	5x	as long as short
BloFin XMR-USDT	+0.0835%	8h	573.39	−1.572%	$2.7M	$10.2M	75x	as long as short
GRVT XMR_USDT_Perp	+0.0846%	8h	571.51	−1.895%	$340K	$628K	10x	as long as short
Variational Omni XMR	+0.0865%	8h	571.49	−1.898%	$6.2M	$2.3M	—	as long as short
Nado XMR-PERP	+0.0980%	1h	572.96	−1.646%	$1.2M	$335K	10x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.1123% / S −0.1459%	1h	571.95	−1.820%	$596K	—	100x	as long as short
Orderly PERP_XMR_USDCshort	+0.1158%	8h	572.93	−1.651%	$40K	$451K	10x
Aftermath Perps XMRUSD	+0.1962%	1h	572.86	−1.663%	$1K	$39K	10x	as long as short