Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0247%/8h= −27.1% APRpaid last 24h +0.099%

Price spread now: Backpack against Aster+0.011%55s7-day average −0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$330.329% of the position

Long on Aster Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.866%+$87 on $10k

Price spread, last 4 days (all we have)+0.016%+$2 · spread now +0.011%, 7d avg −0.030%

Together, before fees+0.882%+ Points / potential airdropAster: Stage 5 · farm board+$88 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Backpack is 0.041% dearer against Aster than usual: you sell high and buy low (spread +0.011% now, against its 7-day average of −0.030%): +$4 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 13 hours. Mind the row above: over the last 5 days funding on this pair paid +0.866%, so the current rate has only just turned against you. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster XMRUSDT	579.54	0.0698	pay 0.0698% / 8h	4h 50m	$651K	$2.4M	75x
Short	Backpack XMR_USDC_PERP	579.60	0.0450	get 0.0056% / 1h	50m 12s	$170K	$534K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Aster. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 AsterbpFee BackpackbpOrdersPrice spread, now +0.011%Rate

Funding earned: −$51.97
Price spread: +0.011% → −0.030%: $4.09
Slippage, 4 orders: −$14.95
Fee Aster: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$80.83
Costs to cover: 0.329%
Break-even: never at this rate

Slippage from Aster: live order book, 3 min ago; Backpack: live order book, 9 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 Aster live order book, 3 min ago	2.67 bp	9.3 bp −$9	24.7 bp −$247	doesn't fit	doesn't fit
Sell Backpack live order book, 9 min ago	0.43 bp	6.5 bp −$6	27.2 bp −$272	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	+0.520%	$3K	$3K	12x	as long as short
gTrade (Gains Network) XMR/USD	L +0.0010% / S −0.0010%	1h	578.86	−0.116%	$45K	—	150x	as long as short
Lighter XMR	+0.0096%	1h	579.29	−0.043%	$3.3M	$7.3M	10x	as long as short
edgeX XMRUSDC	+0.0100%	4h	581.11	+0.272%	$1.0M	$655K	10x	as long as short
Polymarket Perps XMR-USD	+0.0100%	1h	579.45	−0.015%	$32K	$2.1M	5x	as long as short
SunX XMR-USDT	+0.0100%	8h	579.04	−0.086%	$2K	$1.9M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	580.00	+0.080%	$1.1M	$1.6M	20x	as long as short
Kraken Futures PF_XMRUSD	+0.0148%	1h	578.48	−0.182%	$5.5M	$19.6M	50x	as long as short
Aevo XMR-PERP	+0.0200%	1h	579.99	+0.078%	$12K	—	3x	as long as short
dYdX XMR-USD	+0.0417%	1h	580.10	+0.097%	$105K	$44K	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit XMRUSDT	+0.0424%	8h	579.61	+0.013%	$47.1M	$63.7M	75x	as long as short
Backpack XMR_USDC_PERPshort	+0.0450%	1h	579.60	+0.011%	$170K	$534K	20x
Gate XMR_USDT	+0.0475%	8h	579.55	+0.002%	$1.6M	$4.4M	50x	as long as short
MEXC XMR_USDT	+0.0491%	8h	579.63	+0.016%	$20.6M	$14.9M	100x	as long as short
Binance XMRUSDT	+0.0491%	8h	579.50	−0.007%	$52.8M	$164.5M	75x	as long as short
BingX XMR-USDT	+0.0555%	8h	579.79	+0.044%	—	$5.6M	—	as long as short
Bitget XMRUSDT	+0.0573%	8h	579.72	+0.032%	$9.5M	$13.8M	50x	as long as short
Pacifica XMR	+0.0626%	1h	580.06	+0.090%	$267K	$1.1M	10x	as long as short
Hyperliquid XMR	+0.0629%	1h	579.67	+0.023%	$87.2M	$70.9M	5x	as long as short
KuCoin XMRUSDTM	+0.0630%	8h	579.44	−0.017%	$47.6M	$25.1M	50x	as long as short
SoDEX XMR-USD	+0.0641%	1h	579.64	+0.018%	$441K	$3K	5x	as long as short
Nado XMR-PERP	+0.0660%	1h	579.74	+0.035%	$1.3M	$463K	10x	as long as short
Aster XMRUSDTlong	+0.0698%	8h	579.54	long leg	$651K	$2.4M	75x
BloFin XMR-USDT	+0.0752%	8h	580.44	+0.156%	$2.7M	$11.3M	75x	as long as short
Extended XMR-USD	+0.0800%	1h	579.60	+0.011%	$3.1M	$8.3M	25x	as long as short
Paradex XMR-USD-PERP	+0.0821%	8h	580.32	+0.136%	$8K	$4K	20x	as long as short
GRVT XMR_USDT_Perp	+0.0872%	8h	581.14	+0.276%	$337K	$741K	10x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0992% / S −0.1252%	1h	578.86	−0.117%	$596K	—	100x	as long as short
Variational Omni XMR	+0.1037%	8h	580.03	+0.086%	$6.6M	$2.3M	—	as long as short
Orderly PERP_XMR_USDC	+0.1105%	8h	579.62	+0.014%	$41K	$720K	10x	as long as short
Aftermath Perps XMRUSD	+0.2314%	1h	580.52	+0.170%	$1K	$45K	10x	as long as short