XMR

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0506%/8h= −55.4% APRnext payment −$0.63 per $10,000 · paid last 24h +0.085%

Price spread now: dYdX against Backpack−0.061%7-day average −0.131% · you buy dearer than you sell

Net, funding: paid 7d − costs−$309as in the Funding arb table

Net, price: spread back to 7d avg − costs−$285as in the Price arb table

costs, in and out, $10k−$2922.916% of the position

Long on Backpack Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.177%−$18 on $10k

Price spread, last 4 days (all we have)−0.327%−$33 · spread now −0.061%, 7d avg −0.131%

Together, before fees−0.504%−$50 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 0.070% dearer against Backpack than usual: you sell high and buy low (spread −0.061% now, against its 7-day average of −0.131%): +$7 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 11 hours. At the pace of the last 7 days (−0.177% in total) that is about 2.8 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.177% in total (about -9.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.63 per $10,000. 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	Backpack XMR_USDC_PERP	585.96	0.0895	pay 0.0112% / 1h	2m 43s	$173K	$539K	20x
Short	dYdX XMR-USD	585.60	0.0389	get 0.0049% / 1h	2m 43s	$106K	$50K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.061%Rate

Funding earned: −$106.19
Price spread: −0.061% → −0.131%: $7
Slippage, 4 orders: −$271.55
Fee Backpack: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$390.75
Costs to cover: 2.916%
Break-even: never at this rate

Slippage from Backpack: live order book, 1 min ago; dYdX: 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, 1 min ago	1.37 bp	6.7 bp −$7	25.1 bp −$251	doesn't fit	doesn't fit
Sell dYdX live order book, 1 min ago	74.57 bp	189.4 bp −$189	201.1 bp −$2,011	319.5 bp −$32.0K	722.3 bp −$361.2K

XMR on 30 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	585.53	−0.074%	$35K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	596.76	+1.843%	$3K	$4K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	583.62	−0.399%	$1.0M	$668K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	585.92	−0.007%	$2K	$1.9M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	585.96	0.000%	$1.1M	$1.6M	20x	as long as short
Aevo XMR-PERP	+0.0216%	1h	586.71	+0.129%	$12K	—	3x	as long as short
dYdX XMR-USDshort	+0.0389%	1h	585.60	−0.061%	$106K	$50K	5x
MEXC XMR_USDT	+0.0524%	8h	586.44	+0.082%	$20.9M	$15.3M	100x	as long as short
Binance XMRUSDT	+0.0525%	8h	586.43	+0.080%	$53.5M	$168.0M	75x	as long as short
Bitget XMRUSDT	+0.0623%	8h	586.55	+0.101%	$9.6M	$14.2M	50x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster XMRUSDT	+0.0714%	8h	586.76	+0.137%	$653K	$2.5M	75x	as long as short
BingX XMR-USDT	+0.0762%	8h	586.39	+0.073%	—	$5.8M	—	as long as short
Bybit XMRUSDT	+0.0777%	8h	586.42	+0.079%	$47.5M	$65.0M	75x	as long as short
KuCoin XMRUSDTM	+0.0781%	8h	585.79	−0.029%	$48.0M	$26.1M	50x	as long as short
Gate XMR_USDT	+0.0788%	8h	585.77	−0.032%	$1.6M	$4.6M	50x	as long as short
Pacifica XMR	+0.0821%	1h	586.47	+0.087%	$270K	$1.1M	10x	as long as short
Polymarket Perps XMR-USD	+0.0893%	1h	586.44	+0.082%	$31K	$2.1M	5x	as long as short
Backpack XMR_USDC_PERPlong	+0.0895%	1h	585.96	long leg	$173K	$539K	20x
GMX XMR/USD [WBTC.b-USDC]	L +0.0961% / S −0.1219%	1h	585.43	−0.091%	$653K	—	100x	as long as short
Lighter XMR	+0.0968%	1h	586.22	+0.045%	$3.3M	$7.2M	10x	as long as short
GRVT XMR_USDT_Perp	+0.1057%	8h	585.89	−0.013%	$343K	$773K	10x	as long as short
Variational Omni XMR	+0.1058%	8h	586.20	+0.041%	$6.7M	$2.5M	—	as long as short
Orderly PERP_XMR_USDC	+0.1079%	8h	586.77	+0.138%	$42K	$736K	10x	as long as short
Paradex XMR-USD-PERP	+0.1203%	8h	586.32	+0.061%	$8K	$4K	20x	as long as short
Kraken Futures PF_XMRUSD	+0.1305%	1h	585.53	−0.074%	$5.5M	$20.5M	50x	as long as short
Nado XMR-PERP	+0.1406%	1h	586.72	+0.130%	$1.3M	$466K	10x	as long as short
SoDEX XMR-USD	+0.1588%	1h	586.81	+0.145%	$446K	$3K	5x	as long as short
Hyperliquid XMR	+0.1601%	1h	586.36	+0.068%	$88.5M	$73.1M	5x	as long as short
Extended XMR-USD	+0.1792%	1h	586.23	+0.045%	$3.1M	$8.0M	25x	as long as short
Aftermath Perps XMRUSD	+0.2692%	1h	585.85	−0.019%	$1K	$46K	10x	as long as short