Funding arb · Price arb /

XMR

all XMR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0085%/8h= −9.3% APRpaid last 24h −0.065%

Price spread now: Paradex against Backpack+0.401%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Backpack Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

The price spread pays, funding is against you. Paradex is 0.401% dearer against Backpack than usual: you sell high and buy low (spread +0.401% now, against zero (this spread has no 7-day history yet)): +$40 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 16 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack XMR_USDC_PERP	590.94	0.1079	pay 0.0135% / 1h	55m 14s	$200K	$576K	20x
Short	Paradex XMR-USD-PERP	593.31	0.0994	get 0.0994% / 8h	7h 55m	$8K	$4K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.401%Rate

Funding earned: −$17.88
Price spread: +0.401% → 0.000%: $40.11
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: $8.23
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Backpack: live order book, 19 min ago; Paradex: no order-book sample. Net counts fees only.

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, 19 min ago	0.34 bp	8.1 bp −$8	27.6 bp −$276	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
dYdX XMR-USD	0.0000%	1h	591.90	+0.162%	$107K	$50K	5x	as long as short
gTrade (Gains Network) XMR/USD	L +0.0010% / S −0.0009%	1h	590.52	−0.071%	$45K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	596.76	+0.985%	$3K	$4K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	592.84	+0.321%	$1.1M	$658K	10x	as long as short
HTX XMR-USDT	+0.0100%	8h	592.95	+0.340%	$1.1M	$1.5M	20x	as long as short
Aevo XMR-PERP	+0.0176%	1h	592.84	+0.321%	$12K	—	3x	as long as short
SunX XMR-USDT	+0.0199%	8h	591.49	+0.093%	$2K	$2.0M	20x	as long as short
MEXC XMR_USDT	+0.0366%	8h	592.01	+0.181%	$21.7M	$15.1M	100x	as long as short
Binance XMRUSDT	+0.0372%	8h	591.89	+0.161%	$54.2M	$166.4M	75x	as long as short
Bitget XMRUSDT	+0.0486%	8h	591.84	+0.152%	$9.7M	$14.6M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin XMR-USDT	+0.0534%	8h	592.15	+0.205%	$2.7M	$11.7M	75x	as long as short
Aster XMRUSDT	+0.0610%	8h	591.54	+0.101%	$639K	$2.5M	75x	as long as short
KuCoin XMRUSDTM	+0.0613%	8h	591.24	+0.051%	$48.3M	$26.2M	50x	as long as short
Kraken Futures PF_XMRUSD	+0.0644%	1h	590.74	−0.034%	$5.6M	$20.6M	50x	as long as short
Pacifica XMR	+0.0659%	1h	593.25	+0.391%	$276K	$1.1M	10x	as long as short
Variational Omni XMR	+0.0673%	8h	592.97	+0.344%	$6.8M	$2.6M	—	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0871% / S −0.2452%	1h	590.52	−0.071%	$549K	—	100x	as long as short
Orderly PERP_XMR_USDC	+0.0987%	8h	591.79	+0.144%	$42K	$734K	10x	as long as short
Paradex XMR-USD-PERPshort	+0.0994%	8h	593.31	+0.401%	$8K	$4K	20x
Backpack XMR_USDC_PERPlong	+0.1079%	1h	590.94	long leg	$200K	$576K	20x
Lighter XMR	+0.1352%	1h	591.92	+0.166%	$3.3M	$7.1M	10x	as long as short
Nado XMR-PERP	+0.1484%	1h	591.85	+0.154%	$1.3M	$470K	10x	as long as short
SoDEX XMR-USD	+0.1498%	1h	591.84	+0.152%	$450K	$3K	5x	as long as short
Gate XMR_USDT	+0.1509%	8h	591.28	+0.058%	$1.7M	$4.6M	50x	as long as short
GRVT XMR_USDT_Perp	+0.1516%	8h	592.95	+0.341%	$348K	$795K	10x	as long as short
Polymarket Perps XMR-USD	+0.1537%	1h	591.72	+0.132%	$49K	$1.9M	5x	as long as short
BingX XMR-USDT	+0.1632%	8h	592.17	+0.208%	—	$5.8M	—	as long as short
Bybit XMRUSDT	+0.1721%	8h	592.22	+0.217%	$48.0M	$64.5M	75x	as long as short
Extended XMR-USD	+0.2256%	1h	591.78	+0.142%	$3.2M	$7.1M	25x	as long as short
Aftermath Perps XMRUSD	+0.2469%	1h	592.03	+0.185%	$2K	$46K	10x	as long as short
Hyperliquid XMR	+0.2553%	1h	592.51	+0.266%	$89.5M	$72.6M	5x	as long as short