Funding arb · Price arb /

XMR

all XMR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0038%/8h= +4.1% APRpaid last 24h −0.069%

Price spread now: BloFin against Backpack+0.177%66s7-day average +0.107% · you sell dearer than you buy

Net, funding: paid 7d − costs−$100as in the Funding arb table

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

costs, in and out, $10k−$400.401% of the position

Long on Backpack Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.601%−$60 on $10k

Price spread, last 3 days (all we have)−0.104%−$10 · spread now +0.177%, 7d avg +0.107%

Together, before fees−0.704%−$70 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and BloFin is 0.071% dearer against Backpack than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.107%. Mind the row above: over the last 7 days funding on this pair cost −0.601%, so the current rate has only just turned in your favour. The two prices were read 66 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	Backpack XMR_USDC_PERP	597.84	0.0456	pay 0.0057% / 1h	10m 17s	$203K	$575K	20x
Short	BloFin XMR-USDT	598.90	0.0493	get 0.0493% / 8h	2h 10m	$2.8M	$11.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.177%Rate

Funding earned: $7.91
Price spread: +0.177% → +0.107%: $7.06
Slippage, 4 orders: −$18.11
Fee Backpack: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$25.14
Costs to cover: 0.401%
Break-even: 29.3 days

Slippage from Backpack: live order book, 14 min ago; BloFin: 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 Backpack live order book, 14 min ago	1.68 bp	6.7 bp −$7	23.8 bp −$238	doesn't fit	doesn't fit
Sell BloFin live order book, 9 min ago	1.00 bp	13.0 bp −$13	25.5 bp −$255	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	597.72	−0.020%	$45K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	591.89	−0.995%	$3K	$6K	12x	as long as short
Bybit XMRUSDT	+0.0100%	8h	597.91	+0.012%	$48.1M	$61.1M	75x	as long as short
edgeX XMRUSDC	+0.0100%	4h	597.42	−0.070%	$1.1M	$674K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	597.64	−0.033%	$2K	$1.9M	20x	as long as short
Aevo XMR-PERP	+0.0168%	1h	598.88	+0.174%	$12K	—	3x	as long as short
Variational Omni XMR	+0.0261%	8h	598.61	+0.128%	$7.0M	$2.7M	—	as long as short
Lighter XMR	+0.0280%	1h	598.15	+0.053%	$3.5M	$6.7M	10x	as long as short
Polymarket Perps XMR-USD	+0.0283%	1h	598.52	+0.114%	$24K	$1.8M	5x	as long as short
Binance XMRUSDT	+0.0342%	8h	598.28	+0.074%	$54.8M	$162.4M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC XMR_USDT	+0.0345%	8h	598.44	+0.100%	$22.8M	$15.3M	100x	as long as short
BingX XMR-USDT	+0.0362%	8h	598.33	+0.082%	—	$5.8M	—	as long as short
Bitget XMRUSDT	+0.0376%	8h	598.34	+0.084%	$10.0M	$14.2M	50x	as long as short
SoDEX XMR-USD	+0.0426%	1h	598.52	+0.114%	$455K	$3K	5x	as long as short
Gate XMR_USDT	+0.0443%	8h	597.79	−0.008%	$1.6M	$4.5M	50x	as long as short
Backpack XMR_USDC_PERPlong	+0.0456%	1h	597.84	long leg	$203K	$575K	20x
BloFin XMR-USDTshort	+0.0493%	8h	598.90	+0.177%	$2.8M	$11.5M	75x
Aster XMRUSDT	+0.0534%	8h	598.44	+0.100%	$683K	$2.3M	75x	as long as short
KuCoin XMRUSDTM	+0.0592%	8h	597.82	−0.003%	$49.3M	$25.5M	50x	as long as short
GRVT XMR_USDT_Perp	+0.0603%	8h	598.24	+0.067%	$348K	$782K	10x	as long as short
Kraken Futures PF_XMRUSD	+0.0609%	1h	597.53	−0.052%	$5.7M	$20.4M	50x	as long as short
Pacifica XMR	+0.0619%	1h	598.64	+0.134%	$273K	$1.0M	10x	as long as short
Paradex XMR-USD-PERP	+0.0786%	8h	598.58	+0.124%	$8K	$4K	20x	as long as short
dYdX XMR-USD	+0.0834%	1h	598.16	+0.054%	$109K	$50K	5x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0844% / S −0.1414%	1h	597.49	−0.059%	$356K	—	100x	as long as short
Orderly PERP_XMR_USDC	+0.0900%	8h	598.31	+0.079%	$49K	$718K	10x	as long as short
Nado XMR-PERP	+0.1019%	1h	598.26	+0.070%	$1.3M	$479K	10x	as long as short
Extended XMR-USD	+0.1360%	1h	598.30	+0.077%	$3.2M	$6.8M	25x	as long as short
Hyperliquid XMR	+0.1598%	1h	599.27	+0.239%	$88.0M	$66.6M	5x	as long as short
HTX XMR-USDT	+0.2269%	8h	596.95	−0.149%	$1.1M	$1.4M	20x	as long as short
Aftermath Perps XMRUSD	+0.2328%	1h	598.03	+0.031%	$2K	$47K	10x	as long as short