Funding you earn now, next payment 09:00 UTC−0.0297%/8h= −32.6% APRpaid last 24h −0.175%
Price spread now: Bybit against Backpack+0.019%7-day average +0.065% · you sell dearer than you buy
Net, funding: paid 7d − costs−$155as in the Funding arb table
Net, price: spread back to 7d avg − costs−$37as in the Price arb table
costs, in and out, $10k−$330.326% of the position
Funding, last 7 days−1.225%−$123 on $10k
+Price spread, last 4 days (all we have)−0.051%−$5 · spread now +0.019%, 7d avg +0.065%
=Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Bybit is 0.046% cheaper against Backpack than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.065%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack XMR_USDC_PERP | 572.52 | 0.0896 | pay 0.0112% / 1h | 57m 40s | $155K | $422K | 20x |
| Short | Bybit XMRUSDT | 572.63 | 0.0599 | get 0.0599% / 8h | 7h 57m | $46.4M | $49.9M | 75x |
Backpack XMR_USDC_PERP
Bybit XMRUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$62.45
- Price spread: +0.019% → +0.065%
- −$4.62
- Slippage, 4 orders
- −$11.55
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$99.62
- Costs to cover
- 0.326%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 41 min ago; Bybit: live order book, 1 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, 41 min ago | 0.43 bp | 5.7 bp −$6 | 29.4 bp −$294 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 1 min ago | 0.09 bp | 10.8 bp −$11 | 21.3 bp −$213 | 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 −0.0005% | 1h | 571.72 | −0.139% | $34K | — | 150x | as long as short |
| Injective XMR/USDC PERP | +0.0033% | 1h | 582.55 | +1.752% | $3K | $3K | 12x | as long as short |
| edgeX XMRUSDC | +0.0100% | 4h | 571.87 | −0.114% | $1.0M | $548K | 10x | as long as short |
| Polymarket Perps XMR-USD | +0.0100% | 1h | 571.79 | −0.128% | $30K | $1.7M | 5x | as long as short |
| SunX XMR-USDT | +0.0100% | 8h | 572.00 | −0.091% | $2K | $1.2M | 20x | as long as short |
| HTX XMR-USDT | +0.0100% | 8h | 571.87 | −0.114% | $1.1M | $1.1M | 20x | as long as short |
| Extended XMR-USD | +0.0200% | 1h | 572.66 | +0.024% | $3.0M | $7.7M | 25x | as long as short |
| Aevo XMR-PERP | +0.0200% | 1h | 572.99 | +0.081% | $12K | — | 3x | as long as short |
| Lighter XMR | +0.0312% | 1h | 572.51 | −0.001% | $3.1M | $5.5M | 10x | as long as short |
| Gate XMR_USDT | +0.0318% | 8h | 572.56 | +0.007% | $1.6M | $2.6M | 50x | as long as short |
gTrade (Gains Network) XMR/USD
Injective XMR/USDC PERP
edgeX XMRUSDC
Polymarket Perps XMR-USD
SunX XMR-USDT
HTX XMR-USDT
Extended XMR-USD
Aevo XMR-PERP
Lighter XMR
Gate XMR_USDTShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin XMRUSDTM | +0.0336% | 8h | 572.46 | −0.010% | $45.3M | $18.1M | 50x | as long as short |
| Kraken Futures PF_XMRUSD | +0.0372% | 1h | 571.85 | −0.117% | $5.4M | $9.3M | 50x | as long as short |
| MEXC XMR_USDT | +0.0495% | 8h | 572.91 | +0.068% | $20.1M | $9.6M | 100x | as long as short |
| Binance XMRUSDT | +0.0496% | 8h | 572.82 | +0.052% | $52.3M | $106.8M | 75x | as long as short |
| BingX XMR-USDT | +0.0501% | 8h | 572.82 | +0.052% | — | $5.3M | — | as long as short |
| Bitget XMRUSDT | +0.0531% | 8h | 572.90 | +0.066% | $9.4M | $10.1M | 50x | as long as short |
| Pacifica XMR | +0.0550% | 1h | 572.70 | +0.032% | $267K | $757K | 10x | as long as short |
| Bybit XMRUSDTshort | +0.0599% | 8h | 572.63 | +0.019% | $46.4M | $49.9M | 75x | |
| Aster XMRUSDT | +0.0627% | 8h | 572.56 | +0.007% | $640K | $1.6M | 75x | as long as short |
| Hyperliquid XMR | +0.0675% | 1h | 572.76 | +0.042% | $86.9M | $60.2M | 5x | as long as short |
| Paradex XMR-USD-PERP | +0.0690% | 8h | 572.46 | −0.010% | $8K | $2K | 20x | as long as short |
| BloFin XMR-USDT | +0.0802% | 8h | 572.12 | −0.070% | $2.7M | $10.0M | 75x | as long as short |
| Nado XMR-PERP | +0.0818% | 1h | 572.86 | +0.059% | $1.2M | $318K | 10x | as long as short |
| Variational Omni XMR | +0.0830% | 8h | 572.53 | +0.001% | $6.2M | $2.3M | — | as long as short |
| GRVT XMR_USDT_Perp | +0.0830% | 8h | 572.34 | −0.031% | $342K | $630K | 10x | as long as short |
| Backpack XMR_USDC_PERPlong | +0.0896% | 1h | 572.52 | long leg | $155K | $422K | 20x | |
| SoDEX XMR-USD | +0.0981% | 1h | 572.83 | +0.054% | $435K | $4K | 5x | as long as short |
| GMX XMR/USD [WBTC.b-USDC] | L +0.1077% / S −0.1372% | 1h | 571.68 | −0.147% | $595K | — | 100x | as long as short |
| Orderly PERP_XMR_USDC | +0.1123% | 8h | 572.74 | +0.038% | $40K | $434K | 10x | as long as short |
| dYdX XMR-USD | +0.1188% | 1h | 571.99 | −0.093% | $104K | $29K | 5x | as long as short |
| Aftermath Perps XMRUSD | +0.2096% | 1h | 572.35 | −0.030% | $1K | $39K | 10x | as long as short |
KuCoin XMRUSDTM
Kraken Futures PF_XMRUSD
MEXC XMR_USDT
Binance XMRUSDT
BingX XMR-USDT
Bitget XMRUSDT
Pacifica XMR
Aster XMRUSDT
Hyperliquid XMR
Paradex XMR-USD-PERP
BloFin XMR-USDT
Nado XMR-PERP
Variational Omni XMR
GRVT XMR_USDT_Perp
SoDEX XMR-USD
GMX XMR/USD [WBTC.b-USDC]
Orderly PERP_XMR_USDC
dYdX XMR-USD
Aftermath Perps XMRUSD