Funding arb · Price arb /

XMR

all XMR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0353%/8h= +38.7% APRpaid last 24h −0.040%

Price spread now: MEXC against Lighter+0.089%7-day average +0.040% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$380.377% of the position

Long on Lighter Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.214%−$21 on $10k

Price spread, last 7 days−0.052%−$5 · spread now +0.089%, 7d avg +0.040%

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 +$11 a day on $10k at the current rate, and MEXC is 0.049% dearer against Lighter than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.040%. Mind the row above: over the last 7 days funding on this pair cost −0.214%, 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 -0.214% in total (about -11.2% 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	573.97	0.0288	pay 0.0036% / 1h	43m 46s	$3.1M	$6.2M	10x
Short	MEXC XMR_USDT	574.48	0.0641	get 0.0641% / 8h	1h 43m	$20.0M	$14.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.089%Rate

Funding earned: $74.13
Price spread: +0.089% → +0.040%: $4.86
Slippage, 4 orders: −$33.74
Fee Lighter: 0 bp × 2 orders: $0
Fee MEXC: 2 bp × 2 orders: −$4
Net: $41.24
Costs to cover: 0.377%
Break-even: 3.1 days

Slippage from Lighter: live order book, 4 min ago; MEXC: live order book, 5 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, 4 min ago	4.14 bp	5.2 bp −$5	18.8 bp −$188	128.0 bp −$12.8K	doesn't fit
Sell MEXC live order book, 5 min ago	0.09 bp	4.6 bp −$5	28.6 bp −$286	84.7 bp −$8,471	236.0 bp −$118.0K

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	575.65	+0.294%	$32K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	582.55	+1.495%	$3K	$3K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	576.59	+0.456%	$1.0M	$635K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	575.88	+0.333%	$2K	$1.7M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	575.92	+0.340%	$1.1M	$1.5M	20x	as long as short
Aevo XMR-PERP	+0.0240%	1h	576.77	+0.487%	$12K	—	3x	as long as short
dYdX XMR-USD	+0.0254%	1h	575.78	+0.316%	$104K	$43K	5x	as long as short
Lighter XMRlong	+0.0288%	1h	573.97	long leg	$3.1M	$6.2M	10x
KuCoin XMRUSDTM	+0.0335%	8h	574.26	+0.051%	$45.3M	$24.2M	50x	as long as short
Extended XMR-USD	+0.0456%	1h	574.22	+0.043%	$3.0M	$8.2M	25x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps XMR-USD	+0.0467%	1h	576.24	+0.396%	$23K	$2.1M	5x	as long as short
Bitget XMRUSDT	+0.0593%	8h	574.29	+0.056%	$9.5M	$12.4M	50x	as long as short
Kraken Futures PF_XMRUSD	+0.0631%	1h	575.60	+0.284%	$5.4M	$17.3M	50x	as long as short
MEXC XMR_USDTshort	+0.0641%	8h	574.48	+0.089%	$20.0M	$14.4M	100x
Binance XMRUSDT	+0.0642%	8h	574.37	+0.070%	$52.3M	$145.1M	75x	as long as short
BingX XMR-USDT	+0.0645%	8h	574.10	+0.023%	—	$5.5M	—	as long as short
Bybit XMRUSDT	+0.0665%	8h	573.95	−0.003%	$46.6M	$61.5M	75x	as long as short
Gate XMR_USDT	+0.0676%	8h	574.33	+0.063%	$1.5M	$3.3M	50x	as long as short
Aster XMRUSDT	+0.0802%	8h	575.04	+0.187%	$637K	$2.0M	75x	as long as short
Hyperliquid XMR	+0.0827%	1h	574.01	+0.007%	$86.9M	$67.5M	5x	as long as short
Paradex XMR-USD-PERP	+0.0851%	8h	576.91	+0.512%	$8K	$3K	20x	as long as short
Backpack XMR_USDC_PERP	+0.0903%	1h	575.77	+0.314%	$175K	$525K	20x	as long as short
SoDEX XMR-USD	+0.0907%	1h	576.46	+0.434%	$438K	$3K	5x	as long as short
Pacifica XMR	+0.1002%	1h	576.85	+0.502%	$266K	$944K	10x	as long as short
GRVT XMR_USDT_Perp	+0.1013%	8h	576.16	+0.382%	$344K	$711K	10x	as long as short
Nado XMR-PERP	+0.1021%	1h	576.48	+0.437%	$1.3M	$445K	10x	as long as short
BloFin XMR-USDT	+0.1058%	8h	577.32	+0.584%	$2.7M	$11.0M	75x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.1132% / S −0.1504%	1h	575.53	+0.272%	$604K	—	100x	as long as short
Variational Omni XMR	+0.1137%	8h	575.92	+0.341%	$6.2M	$2.4M	—	as long as short
Orderly PERP_XMR_USDC	+0.1193%	8h	576.32	+0.410%	$40K	$604K	10x	as long as short
Aftermath Perps XMRUSD	+0.1973%	1h	576.26	+0.399%	$1K	$42K	10x	as long as short