Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0758%/8h= −83.0% APRpaid last 24h −0.071%

Price spread now: Gate against Backpack+0.017%7-day average −0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$127as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$570.573% of the position

Long on Backpack Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.695%−$69 on $10k

Price spread, last 4 days (all we have)−0.142%−$14 · spread now +0.017%, 7d avg −0.024%

Together, before fees−0.837%−$84 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.042% dearer against Backpack than usual: you sell high and buy low (spread +0.017% now, against its 7-day average of −0.024%): +$4 on $10k if it goes back. Holding the pair costs −$23 a day in funding at the current rate, which eats that in about 4 hours. At the pace of the last 7 days (−0.695% in total) that is about 10 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack XMR_USDC_PERP	575.35	0.1421	pay 0.0178% / 1h	18m 36s	$169K	$532K	20x
Short	Gate XMR_USDT	575.45	0.0663	get 0.0663% / 8h	2h 18m	$1.6M	$4.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.017%Rate

Funding earned: −$159.26
Price spread: +0.017% → −0.024%: $4.18
Slippage, 4 orders: −$32.33
Fee Backpack: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$212.41
Costs to cover: 0.573%
Break-even: never at this rate

Slippage from Backpack: live order book, 30 min ago; Gate: live order book, 5 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, 30 min ago	1.66 bp	6.9 bp −$7	33.1 bp −$331	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	7.56 bp	26.0 bp −$26	52.2 bp −$522	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 −0.0003%	1h	574.39	−0.167%	$38K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	582.55	+1.251%	$3K	$3K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	575.74	+0.067%	$1.0M	$642K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	575.00	−0.061%	$2K	$1.8M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	574.95	−0.070%	$1.1M	$1.5M	20x	as long as short
Aevo XMR-PERP	+0.0240%	1h	576.18	+0.144%	$12K	—	3x	as long as short
KuCoin XMRUSDTM	+0.0325%	8h	575.06	−0.050%	$45.2M	$26.2M	50x	as long as short
dYdX XMR-USD	+0.0345%	1h	574.53	−0.143%	$104K	$44K	5x	as long as short
Bitget XMRUSDT	+0.0580%	8h	575.81	+0.080%	$9.5M	$13.3M	50x	as long as short
MEXC XMR_USDT	+0.0625%	8h	575.97	+0.108%	$20.0M	$14.6M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance XMRUSDT	+0.0626%	8h	576.03	+0.119%	$52.7M	$160.6M	75x	as long as short
Polymarket Perps XMR-USD	+0.0659%	1h	575.61	+0.045%	$27K	$2.2M	5x	as long as short
Gate XMR_USDTshort	+0.0663%	8h	575.45	+0.017%	$1.6M	$4.3M	50x
BingX XMR-USDT	+0.0673%	8h	575.83	+0.083%	—	$5.6M	—	as long as short
Extended XMR-USD	+0.0696%	1h	575.47	+0.020%	$3.1M	$8.2M	25x	as long as short
Bybit XMRUSDT	+0.0706%	8h	576.17	+0.143%	$46.6M	$64.0M	75x	as long as short
Kraken Futures PF_XMRUSD	+0.0745%	1h	574.66	−0.120%	$5.4M	$19.0M	50x	as long as short
Aster XMRUSDT	+0.0783%	8h	575.87	+0.091%	$648K	$2.2M	75x	as long as short
Lighter XMR	+0.0856%	1h	575.32	−0.006%	$3.1M	$7.6M	10x	as long as short
Paradex XMR-USD-PERP	+0.0893%	8h	575.34	−0.002%	$8K	$4K	20x	as long as short
Pacifica XMR	+0.0912%	1h	575.42	+0.013%	$266K	$1.0M	10x	as long as short
GRVT XMR_USDT_Perp	+0.1016%	8h	575.49	+0.024%	$346K	$727K	10x	as long as short
BloFin XMR-USDT	+0.1030%	8h	575.88	+0.092%	$2.7M	$11.2M	75x	as long as short
Hyperliquid XMR	+0.1058%	1h	575.46	+0.019%	$86.8M	$70.8M	5x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.1085% / S −0.1451%	1h	574.44	−0.157%	$595K	—	100x	as long as short
Variational Omni XMR	+0.1174%	8h	575.62	+0.048%	$6.4M	$2.3M	—	as long as short
Orderly PERP_XMR_USDC	+0.1192%	8h	575.56	+0.036%	$40K	$677K	10x	as long as short
Nado XMR-PERP	+0.1243%	1h	575.49	+0.024%	$1.3M	$450K	10x	as long as short
SoDEX XMR-USD	+0.1295%	1h	575.66	+0.054%	$438K	$3K	5x	as long as short
Backpack XMR_USDC_PERPlong	+0.1421%	1h	575.35	long leg	$169K	$532K	20x
Aftermath Perps XMRUSD	+0.2026%	1h	574.60	−0.130%	$2K	$42K	10x	as long as short