Funding arb · Price arb /

XMR

all XMR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.140%

Price spread now: Binance against Backpack+0.142%7-day average +0.079% · you sell dearer than you buy

Net, funding: paid 7d − costs−$134as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$400.399% of the position

Long on Backpack Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.943%−$94 on $10k

Price spread, last 4 days (all we have)−0.052%−$5 · spread now +0.142%, 7d avg +0.079%

Together, before fees−0.995%−$99 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.063% dearer against Backpack than usual: you sell high and buy low (spread +0.142% now, against its 7-day average of +0.079%): +$6 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.2 days. At the pace of the last 7 days (−0.943% in total) that is about 11 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack XMR_USDC_PERP	582.89	0.0586	pay 0.0073% / 1h	34m 59s	$171K	$539K	20x
Short	Binance XMRUSDT	583.72	0.0519	get 0.0519% / 8h	5h 34m	$53.2M	$166.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Backpack. 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 BackpackbpFee BinancebpOrdersPrice spread, now +0.142%Rate

Funding earned: −$14.04
Price spread: +0.142% → +0.079%: $6.34
Slippage, 4 orders: −$19.95
Fee Backpack: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$47.65
Costs to cover: 0.399%
Break-even: never at this rate

Slippage from Backpack: live order book, 29 min ago; Binance: live order book, 8 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 Backpack live order book, 29 min ago	1.37 bp	6.7 bp −$7	25.1 bp −$251	doesn't fit	doesn't fit
Sell Binance live order book, 8 min ago	0.26 bp	14.8 bp −$15	29.5 bp −$295	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 −0.0010%	1h	582.01	−0.151%	$45K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	582.55	−0.058%	$3K	$6K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	581.84	−0.179%	$1.0M	$658K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	582.24	−0.112%	$2K	$1.9M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	582.76	−0.022%	$1.1M	$1.6M	20x	as long as short
Aevo XMR-PERP	+0.0208%	1h	582.82	−0.012%	$12K	—	3x	as long as short
dYdX XMR-USD	+0.0371%	1h	581.77	−0.193%	$105K	$50K	5x	as long as short
Polymarket Perps XMR-USD	+0.0462%	1h	582.64	−0.043%	$31K	$2.1M	5x	as long as short
MEXC XMR_USDT	+0.0516%	8h	583.69	+0.137%	$20.6M	$15.2M	100x	as long as short
Binance XMRUSDTshort	+0.0519%	8h	583.72	+0.142%	$53.2M	$166.9M	75x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XMR	+0.0544%	1h	583.33	+0.075%	$3.3M	$7.1M	10x	as long as short
Backpack XMR_USDC_PERPlong	+0.0586%	1h	582.89	long leg	$171K	$539K	20x
Gate XMR_USDT	+0.0604%	8h	582.88	−0.002%	$1.6M	$4.5M	50x	as long as short
Bitget XMRUSDT	+0.0611%	8h	583.48	+0.101%	$9.6M	$14.2M	50x	as long as short
BingX XMR-USDT	+0.0620%	8h	583.75	+0.148%	—	$5.7M	—	as long as short
Bybit XMRUSDT	+0.0637%	8h	583.85	+0.165%	$47.4M	$64.8M	75x	as long as short
Aster XMRUSDT	+0.0710%	8h	582.49	−0.068%	$649K	$2.4M	75x	as long as short
KuCoin XMRUSDTM	+0.0771%	8h	582.81	−0.014%	$47.9M	$26.1M	50x	as long as short
BloFin XMR-USDT	+0.0792%	8h	583.47	+0.100%	$2.7M	$11.4M	75x	as long as short
Kraken Futures PF_XMRUSD	+0.0958%	1h	581.90	−0.169%	$5.5M	$20.0M	50x	as long as short
Nado XMR-PERP	+0.0972%	1h	583.24	+0.060%	$1.3M	$464K	10x	as long as short
Paradex XMR-USD-PERP	+0.0976%	8h	582.68	−0.037%	$8K	$4K	20x	as long as short
GRVT XMR_USDT_Perp	+0.0983%	8h	582.25	−0.111%	$345K	$766K	10x	as long as short
Pacifica XMR	+0.0996%	1h	582.80	−0.015%	$264K	$1.1M	10x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.1015% / S −0.1349%	1h	581.89	−0.171%	$648K	—	100x	as long as short
Variational Omni XMR	+0.1083%	8h	582.84	−0.008%	$6.6M	$2.4M	—	as long as short
Orderly PERP_XMR_USDC	+0.1098%	8h	583.08	+0.033%	$42K	$736K	10x	as long as short
Hyperliquid XMR	+0.1140%	1h	583.62	+0.125%	$87.7M	$71.5M	5x	as long as short
Extended XMR-USD	+0.1296%	1h	583.54	+0.112%	$3.1M	$8.0M	25x	as long as short
SoDEX XMR-USD	+0.1333%	1h	583.37	+0.082%	$443K	$3K	5x	as long as short
Aftermath Perps XMRUSD	+0.2577%	1h	582.58	−0.053%	$2K	$46K	10x	as long as short