Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0561%/8h= +61.4% APRpaid last 24h +0.009%

Price spread now: BingX against Lighter+0.176%7-day average +0.034% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$410.413% of the position

Long on Lighter Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.158%−$16 on $10k

Price spread, last 7 days−0.108%−$11 · spread now +0.176%, 7d avg +0.034%

Together, before fees−0.266%+ Points / potential airdropLighter: Season 3 · farm board−$27 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and BingX is 0.143% dearer against Lighter than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of +0.034%. Mind the row above: over the last 7 days funding on this pair cost −0.158%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.158% in total (about -8.2% 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	Lighter XMR	567.91	0.0168	pay 0.0021% / 1h	6m 14s	$3.0M	$4.6M	10x
Short	BingX XMR-USDT	568.91	0.0729	get 0.0729% / 8h	5h 06m	—	$4.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.176%Rate

Funding earned: $117.81
Price spread: +0.176% → +0.034%: $14.25
Slippage, 4 orders: −$31.31
Fee Lighter: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: $90.75
Costs to cover: 0.413%
Break-even: 1.6 days

Slippage from Lighter: live order book, 5 min ago; BingX: live order book, 7 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, 5 min ago	5.33 bp	6.4 bp −$6	14.1 bp −$141	196.0 bp −$19.6K	doesn't fit
Sell BingX live order book, 7 min ago	0.09 bp	11.2 bp −$11	22.3 bp −$223	71.7 bp −$7,174	540.8 bp −$270.4K

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	567.19	−0.126%	$32K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	582.55	+2.578%	$3K	$3K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	569.72	+0.319%	$1.1M	$481K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	567.82	−0.016%	$2K	$827K	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	568.00	+0.016%	$1.0M	$893K	20x	as long as short
Extended XMR-USD	+0.0104%	1h	568.09	+0.031%	$3.1M	$6.1M	25x	as long as short
Lighter XMRlong	+0.0168%	1h	567.91	long leg	$3.0M	$4.6M	10x
Aevo XMR-PERP	+0.0192%	1h	568.36	+0.079%	$11K	—	3x	as long as short
Polymarket Perps XMR-USD	+0.0360%	1h	568.29	+0.067%	$25K	$1.5M	5x	as long as short
MEXC XMR_USDT	+0.0438%	8h	568.27	+0.063%	$19.3M	$7.3M	100x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance XMRUSDT	+0.0438%	8h	568.44	+0.093%	$52.4M	$77.5M	75x	as long as short
Aster XMRUSDT	+0.0441%	8h	567.91	0.000%	$656K	$1.2M	75x	as long as short
Bybit XMRUSDT	+0.0475%	8h	568.03	+0.021%	$46.4M	$40.4M	75x	as long as short
Kraken Futures PF_XMRUSD	+0.0658%	1h	567.18	−0.128%	$5.4M	$6.1M	50x	as long as short
Paradex XMR-USD-PERP	+0.0661%	8h	568.68	+0.135%	$8K	$1K	20x	as long as short
GRVT XMR_USDT_Perp	+0.0663%	8h	569.99	+0.366%	$334K	$704K	10x	as long as short
Gate XMR_USDT	+0.0666%	8h	568.00	+0.016%	$1.5M	$2.2M	50x	as long as short
Hyperliquid XMR	+0.0728%	1h	568.17	+0.046%	$86.5M	$50.3M	5x	as long as short
BingX XMR-USDTshort	+0.0729%	8h	568.91	+0.176%	—	$4.3M	—
KuCoin XMRUSDTM	+0.0748%	8h	567.84	−0.012%	$46.2M	$14.6M	50x	as long as short
SoDEX XMR-USD	+0.0749%	1h	568.29	+0.067%	$432K	$4K	5x	as long as short
Pacifica XMR	+0.0759%	1h	568.67	+0.134%	$269K	$594K	10x	as long as short
Bitget XMRUSDT	+0.0761%	8h	568.20	+0.051%	$9.1M	$8.6M	50x	as long as short
BloFin XMR-USDT	+0.0767%	8h	568.89	+0.173%	$2.7M	$8.9M	75x	as long as short
Nado XMR-PERP	+0.0769%	1h	568.66	+0.132%	$1.2M	$158K	10x	as long as short
Variational Omni XMR	+0.0809%	8h	571.07	+0.556%	$6.1M	$2.1M	—	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.1009% / S −0.1284%	1h	567.33	−0.102%	$619K	—	100x	as long as short
Backpack XMR_USDC_PERP	+0.1015%	1h	568.32	+0.072%	$161K	$416K	20x	as long as short
Orderly PERP_XMR_USDC	+0.1052%	8h	568.18	+0.048%	$41K	$250K	10x	as long as short
Aftermath Perps XMRUSD	+0.1911%	1h	568.82	+0.161%	$1K	$36K	10x	as long as short
dYdX XMR-USD	+0.3414%	1h	567.99	+0.014%	$103K	$24K	5x	as long as short