Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.1694%/8h= +185.5% APRpaid last 24h +0.084%

Price spread now: Hyperliquid against MEXC+0.081%7-day average −0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$480.484% of the position

Long on MEXC Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.146%+$15 on $10k

Price spread, last 7 days−0.091%−$9 · spread now +0.081%, 7d avg −0.041%

Together, before fees+0.055%+ Points / potential airdropHyperliquid: Season 2 · farm board+$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$51 a day on $10k at the current rate, and Hyperliquid is 0.122% dearer against MEXC than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of −0.041%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.146% in total (about 7.6% 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	MEXC XMR_USDT	592.50	0.0426	pay 0.0426% / 8h	7h 31m	$21.6M	$15.2M	100x
Short	Hyperliquid XMR	592.98	0.2120	get 0.0265% / 1h	31m 44s	$89.9M	$72.6M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against MEXC. 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 MEXCbpFee HyperliquidbpOrdersPrice spread, now +0.081%Rate

Funding earned: $355.77
Price spread: +0.081% → −0.041%: $12.21
Slippage, 4 orders: −$35.44
Fee MEXC: 2 bp × 2 orders: −$4
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $319.54
Costs to cover: 0.484%
Break-even: 0.7 days

Slippage from MEXC: live order book, 2 min ago; Hyperliquid: live order book, 12 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 MEXC live order book, 2 min ago	1.01 bp	18.5 bp −$18	31.0 bp −$310	55.4 bp −$5,541	196.5 bp −$98.2K
Sell Hyperliquid live order book, 12 min ago	1.27 bp	8.7 bp −$9	doesn't fit	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	590.66	−0.310%	$45K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	596.76	+0.719%	$3K	$4K	12x	as long as short
dYdX XMR-USD	+0.0065%	1h	591.49	−0.171%	$107K	$50K	5x	as long as short
edgeX XMRUSDC	+0.0100%	4h	592.73	+0.039%	$1.1M	$661K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	591.20	−0.219%	$2K	$2.0M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	591.69	−0.137%	$1.1M	$1.5M	20x	as long as short
Aevo XMR-PERP	+0.0184%	1h	591.81	−0.117%	$12K	—	3x	as long as short
MEXC XMR_USDTlong	+0.0426%	8h	592.50	long leg	$21.6M	$15.2M	100x
Binance XMRUSDT	+0.0426%	8h	592.60	+0.017%	$54.1M	$166.9M	75x	as long as short
Bitget XMRUSDT	+0.0532%	8h	592.50	0.000%	$9.7M	$14.4M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin XMR-USDT	+0.0608%	8h	591.42	−0.182%	$2.7M	$11.6M	75x	as long as short
Aster XMRUSDT	+0.0635%	8h	591.66	−0.142%	$656K	$2.5M	75x	as long as short
Kraken Futures PF_XMRUSD	+0.0644%	1h	590.72	−0.301%	$5.6M	$20.5M	50x	as long as short
Pacifica XMR	+0.0659%	1h	591.86	−0.108%	$278K	$1.1M	10x	as long as short
KuCoin XMRUSDTM	+0.0681%	8h	592.01	−0.083%	$48.6M	$26.0M	50x	as long as short
Variational Omni XMR	+0.0813%	8h	593.30	+0.136%	$6.8M	$2.6M	—	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0871% / S −0.2452%	1h	590.56	−0.327%	$549K	—	100x	as long as short
Gate XMR_USDT	+0.0893%	8h	591.97	−0.089%	$1.6M	$4.6M	50x	as long as short
Backpack XMR_USDC_PERP	+0.0983%	1h	591.50	−0.169%	$201K	$526K	20x	as long as short
Orderly PERP_XMR_USDC	+0.1033%	8h	591.65	−0.143%	$42K	$738K	10x	as long as short
Paradex XMR-USD-PERP	+0.1193%	8h	591.45	−0.177%	$8K	$4K	20x	as long as short
Lighter XMR	+0.1232%	1h	592.56	+0.010%	$3.3M	$7.1M	10x	as long as short
GRVT XMR_USDT_Perp	+0.1256%	8h	593.00	+0.084%	$350K	$804K	10x	as long as short
Polymarket Perps XMR-USD	+0.1284%	1h	591.75	−0.127%	$47K	$1.9M	5x	as long as short
Bybit XMRUSDT	+0.1365%	8h	592.56	+0.010%	$47.8M	$64.5M	75x	as long as short
BingX XMR-USDT	+0.1394%	8h	592.71	+0.035%	—	$5.8M	—	as long as short
Nado XMR-PERP	+0.1417%	1h	591.82	−0.115%	$1.3M	$467K	10x	as long as short
SoDEX XMR-USD	+0.1433%	1h	591.84	−0.111%	$450K	$3K	5x	as long as short
Hyperliquid XMRshort	+0.2120%	1h	592.98	+0.081%	$89.9M	$72.6M	5x
Extended XMR-USD	+0.2472%	1h	592.54	+0.006%	$3.2M	$7.9M	25x	as long as short
Aftermath Perps XMRUSD	+0.2587%	1h	591.85	−0.110%	$1K	$46K	10x	as long as short