XMR

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0178%/8h= +19.5% APRnext payment +$0.22 per $10,000 · paid last 24h +0.130%

Price spread now: Backpack against Lighter−0.076%7-day average −0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs+$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$260.255% of the position

Long on Lighter Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.762%+$76 on $10k

Price spread, last 4 days (all we have)+0.009%+$1 · spread now −0.076%, 7d avg −0.044%

Together, before fees+0.771%+ Points / potential airdropLighter: Season 3 · farm board+$77 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.032% cheaper against Lighter than usual: you would sell low and buy high (spread −0.076% now, against its 7-day average of −0.044%). If the spread goes back, that is −$3 on $10k: about 14 hours of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.762% in total) that is about 7 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XMR	595.55	0.0288	pay 0.0036% / 1h	5m 48s	$3.5M	$6.7M	10x
Short	Backpack XMR_USDC_PERP	595.10	0.0466	get 0.0058% / 1h	5m 48s	$202K	$574K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Lighter. 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 LighterbpFee BackpackbpOrdersPrice spread, now −0.076%Rate

Funding earned: $37.33
Price spread: −0.076% → −0.044%: −$3.22
Slippage, 4 orders: −$15.51
Fee Lighter: 0 bp × 2 orders: $0
Fee Backpack: 5 bp × 2 orders: −$10
Net: $8.6
Costs to cover: 0.255%
Break-even: 5.4 days

Slippage from Lighter: live order book, 12 min ago; Backpack: live order book, 18 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 Lighter live order book, 12 min ago	3.24 bp	6.4 bp −$6	15.1 bp −$151	116.4 bp −$11.6K	doesn't fit
Sell Backpack live order book, 18 min ago	1.68 bp	7.0 bp −$7	26.9 bp −$269	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	594.44	−0.187%	$44K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	591.89	−0.615%	$3K	$6K	12x	as long as short
Bybit XMRUSDT	+0.0100%	8h	595.48	−0.012%	$47.9M	$61.2M	75x	as long as short
edgeX XMRUSDC	+0.0100%	4h	597.83	+0.383%	$1.1M	$672K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	594.27	−0.215%	$2K	$1.9M	20x	as long as short
Aevo XMR-PERP	+0.0168%	1h	595.82	+0.045%	$12K	—	3x	as long as short
Variational Omni XMR	+0.0261%	8h	598.61	+0.513%	$7.0M	$2.7M	—	as long as short
Lighter XMRlong	+0.0288%	1h	595.55	long leg	$3.5M	$6.7M	10x
Polymarket Perps XMR-USD	+0.0298%	1h	595.03	−0.088%	$24K	$1.8M	5x	as long as short
MEXC XMR_USDT	+0.0338%	8h	595.82	+0.045%	$22.6M	$15.3M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance XMRUSDT	+0.0340%	8h	595.91	+0.060%	$54.6M	$162.5M	75x	as long as short
BingX XMR-USDT	+0.0358%	8h	596.00	+0.075%	—	$5.8M	—	as long as short
Bitget XMRUSDT	+0.0382%	8h	594.43	−0.188%	$9.9M	$14.2M	50x	as long as short
Gate XMR_USDT	+0.0434%	8h	594.85	−0.118%	$1.6M	$4.5M	50x	as long as short
Backpack XMR_USDC_PERPshort	+0.0466%	1h	595.10	−0.076%	$202K	$574K	20x
SoDEX XMR-USD	+0.0482%	1h	595.17	−0.064%	$452K	$3K	5x	as long as short
BloFin XMR-USDT	+0.0485%	8h	595.00	−0.093%	$2.8M	$11.4M	75x	as long as short
Aster XMRUSDT	+0.0531%	8h	594.80	−0.126%	$678K	$2.3M	75x	as long as short
KuCoin XMRUSDTM	+0.0580%	8h	595.05	−0.084%	$49.0M	$25.6M	50x	as long as short
GRVT XMR_USDT_Perp	+0.0592%	8h	596.61	+0.178%	$347K	$782K	10x	as long as short
Kraken Futures PF_XMRUSD	+0.0612%	1h	594.71	−0.142%	$5.7M	$20.4M	50x	as long as short
Pacifica XMR	+0.0619%	1h	595.77	+0.037%	$272K	$1.0M	10x	as long as short
Paradex XMR-USD-PERP	+0.0808%	8h	595.53	−0.004%	$8K	$4K	20x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0842% / S −0.1414%	1h	593.90	−0.277%	$354K	—	100x	as long as short
dYdX XMR-USD	+0.0869%	1h	594.60	−0.160%	$108K	$50K	5x	as long as short
Orderly PERP_XMR_USDC	+0.0888%	8h	595.38	−0.029%	$48K	$718K	10x	as long as short
Nado XMR-PERP	+0.1050%	1h	594.82	−0.122%	$1.3M	$479K	10x	as long as short
Extended XMR-USD	+0.1400%	1h	595.56	+0.002%	$3.1M	$6.8M	25x	as long as short
Hyperliquid XMR	+0.1580%	1h	596.29	+0.124%	$87.5M	$66.6M	5x	as long as short
HTX XMR-USDT	+0.2250%	8h	594.00	−0.261%	$1.1M	$1.4M	20x	as long as short
Aftermath Perps XMRUSD	+0.2352%	1h	595.72	+0.029%	$2K	$47K	10x	as long as short