Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0422%/8h= +46.2% APRpaid last 24h −0.042%

Price spread now: Bitget against Lighter+0.111%7-day average +0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$580.577% of the position

Long on Lighter Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.279%−$28 on $10k

Price spread, last 7 days−0.065%−$7 · spread now +0.111%, 7d avg +0.032%

Together, before fees−0.344%+ Points / potential airdropLighter: Season 3 · farm board−$34 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Bitget is 0.079% dearer against Lighter than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.032%. Mind the row above: over the last 7 days funding on this pair cost −0.279%, 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 -0.279% in total (about -14.5% 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	Lighter XMR	574.12	0.0096	pay 0.0012% / 1h	20m 04s	$3.3M	$7.5M	10x
Short	Bitget XMRUSDT	574.76	0.0518	get 0.0518% / 8h	4h 20m	$9.4M	$14.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.111%Rate

Funding earned: $88.62
Price spread: +0.111% → +0.032%: $7.92
Slippage, 4 orders: −$45.69
Fee Lighter: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: $38.85
Costs to cover: 0.577%
Break-even: 3.9 days

Slippage from Lighter: live order book, 3 min ago; Bitget: live order book, 4 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, 3 min ago	3.45 bp	5.9 bp −$6	17.7 bp −$177	165.5 bp −$16.5K	doesn't fit
Sell Bitget live order book, 4 min ago	5.82 bp	19.5 bp −$20	40.4 bp −$404	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
Injective XMR/USDC PERP	−0.0136%	1h	582.55	+1.468%	$3K	$3K	12x	as long as short
gTrade (Gains Network) XMR/USD	L +0.0010% / S −0.0008%	1h	573.65	−0.083%	$50K	—	150x	as long as short
Lighter XMRlong	+0.0096%	1h	574.12	long leg	$3.3M	$7.5M	10x
edgeX XMRUSDC	+0.0100%	4h	576.43	+0.401%	$1.0M	$653K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	574.43	+0.053%	$2K	$1.9M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	574.00	−0.022%	$1.1M	$1.6M	20x	as long as short
Kraken Futures PF_XMRUSD	+0.0149%	1h	573.39	−0.128%	$5.4M	$19.5M	50x	as long as short
Aevo XMR-PERP	+0.0200%	1h	575.01	+0.155%	$12K	—	3x	as long as short
Polymarket Perps XMR-USD	+0.0284%	1h	574.40	+0.048%	$26K	$2.2M	5x	as long as short
Gate XMR_USDT	+0.0375%	8h	574.13	+0.001%	$1.6M	$4.5M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit XMRUSDT	+0.0379%	8h	574.92	+0.139%	$46.7M	$64.4M	75x	as long as short
dYdX XMR-USD	+0.0395%	1h	573.73	−0.069%	$104K	$44K	5x	as long as short
KuCoin XMRUSDTM	+0.0471%	8h	573.95	−0.030%	$45.0M	$26.7M	50x	as long as short
Binance XMRUSDT	+0.0482%	8h	574.87	+0.130%	$52.5M	$164.9M	75x	as long as short
MEXC XMR_USDT	+0.0483%	8h	574.96	+0.146%	$20.2M	$15.0M	100x	as long as short
BingX XMR-USDT	+0.0500%	8h	574.99	+0.151%	—	$5.7M	—	as long as short
Bitget XMRUSDTshort	+0.0518%	8h	574.76	+0.111%	$9.4M	$14.0M	50x
Backpack XMR_USDC_PERP	+0.0531%	1h	574.35	+0.039%	$169K	$535K	20x	as long as short
Pacifica XMR	+0.0626%	1h	574.49	+0.064%	$266K	$1.1M	10x	as long as short
Extended XMR-USD	+0.0640%	1h	574.80	+0.118%	$3.1M	$8.4M	25x	as long as short
Aster XMRUSDT	+0.0670%	8h	573.98	−0.026%	$637K	$2.4M	75x	as long as short
Nado XMR-PERP	+0.0763%	1h	574.62	+0.087%	$1.3M	$466K	10x	as long as short
Paradex XMR-USD-PERP	+0.0772%	8h	574.53	+0.070%	$8K	$4K	20x	as long as short
BloFin XMR-USDT	+0.0779%	8h	574.93	+0.140%	$2.7M	$11.2M	75x	as long as short
Hyperliquid XMR	+0.0805%	1h	574.72	+0.104%	$86.4M	$71.0M	5x	as long as short
GRVT XMR_USDT_Perp	+0.0842%	8h	575.85	+0.301%	$345K	$733K	10x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0989% / S −0.1253%	1h	573.44	−0.119%	$590K	—	100x	as long as short
Variational Omni XMR	+0.1014%	8h	574.77	+0.112%	$6.5M	$2.2M	—	as long as short
SoDEX XMR-USD	+0.1063%	1h	574.91	+0.137%	$437K	$3K	5x	as long as short
Orderly PERP_XMR_USDC	+0.1123%	8h	574.66	+0.093%	$40K	$735K	10x	as long as short
Aftermath Perps XMRUSD	+0.2030%	1h	575.44	+0.230%	$2K	$44K	10x	as long as short