Funding arb · Price arb /

XMR

all XMR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0087%/8h= +9.5% APRpaid last 24h −0.147%

Price spread now: Variational Omni against Backpack+0.369%49s7-day average +0.106% · you sell dearer than you buy

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

Long on Backpack Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.576%−$58 on $10k

Price spread, last 4 days (all we have)+2.679%+$268 · spread now +0.369%, 7d avg +0.106%

Together, before fees+2.103%+ Points / potential airdropVariational Omni: Active · farm board+$210 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Variational Omni is 0.262% dearer against Backpack than usual: you sell high and buy low: +$26 more if the spread goes back to its 7-day average of +0.106%. Mind the row above: over the last 3 days funding on this pair cost −0.576%, so the current rate has only just turned in your favour. The two prices were read 49 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	593.80	0.0203	pay 0.0025% / 1h	28m 21s	$202K	$575K	20x
Short	Variational Omni XMR	595.99	0.0290	get 0.0290% / 8h	2h 28m	$6.9M	$2.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.369%Rate

Funding earned: $18.19
Price spread: +0.369% → +0.106%: $26.25
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $34.44
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Backpack: live order book, 60 min ago; Variational Omni: RFQ quote, 1 min ago. 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, 60 min ago	1.87 bp	7.0 bp −$7	33.0 bp −$330	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 1 min ago	2.79 bp	doesn't fit	33.0 bp −$330	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	594.02	+0.038%	$45K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	591.89	−0.322%	$3K	$6K	12x	as long as short
Bybit XMRUSDT	+0.0100%	8h	594.30	+0.084%	$47.7M	$60.9M	75x	as long as short
edgeX XMRUSDC	+0.0100%	4h	596.08	+0.383%	$1.1M	$674K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	593.80	0.000%	$2K	$1.9M	20x	as long as short
Aevo XMR-PERP	+0.0168%	1h	594.86	+0.179%	$12K	—	3x	as long as short
Backpack XMR_USDC_PERPlong	+0.0203%	1h	593.80	long leg	$202K	$575K	20x
Polymarket Perps XMR-USD	+0.0270%	1h	594.54	+0.125%	$32K	$1.8M	5x	as long as short
Lighter XMR	+0.0288%	1h	594.34	+0.090%	$3.5M	$6.7M	10x	as long as short
Variational Omni XMRshort	+0.0290%	8h	595.99	+0.369%	$6.9M	$2.8M	—

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance XMRUSDT	+0.0361%	8h	594.42	+0.104%	$54.5M	$162.1M	75x	as long as short
MEXC XMR_USDT	+0.0362%	8h	594.59	+0.133%	$22.6M	$15.3M	100x	as long as short
SoDEX XMR-USD	+0.0372%	1h	594.77	+0.163%	$452K	$3K	5x	as long as short
BingX XMR-USDT	+0.0375%	8h	594.57	+0.130%	—	$5.8M	—	as long as short
Bitget XMRUSDT	+0.0391%	8h	594.52	+0.121%	$9.9M	$14.1M	50x	as long as short
Gate XMR_USDT	+0.0392%	8h	593.95	+0.025%	$1.6M	$4.5M	50x	as long as short
dYdX XMR-USD	+0.0500%	1h	593.51	−0.049%	$108K	$50K	5x	as long as short
BloFin XMR-USDT	+0.0510%	8h	593.89	+0.015%	$2.8M	$11.3M	75x	as long as short
Aster XMRUSDT	+0.0547%	8h	594.55	+0.126%	$675K	$2.3M	75x	as long as short
Kraken Futures PF_XMRUSD	+0.0613%	1h	593.71	−0.014%	$5.7M	$20.4M	50x	as long as short
KuCoin XMRUSDTM	+0.0617%	8h	594.43	+0.106%	$49.4M	$25.4M	50x	as long as short
Pacifica XMR	+0.0619%	1h	594.36	+0.094%	$269K	$1.0M	10x	as long as short
GRVT XMR_USDT_Perp	+0.0622%	8h	594.60	+0.135%	$349K	$782K	10x	as long as short
Paradex XMR-USD-PERP	+0.0765%	8h	594.35	+0.093%	$8K	$4K	20x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0863% / S −0.1487%	1h	593.75	−0.009%	$368K	—	100x	as long as short
Orderly PERP_XMR_USDC	+0.0889%	8h	594.72	+0.155%	$48K	$725K	10x	as long as short
Nado XMR-PERP	+0.0899%	1h	593.89	+0.016%	$1.3M	$479K	10x	as long as short
Extended XMR-USD	+0.1184%	1h	594.48	+0.115%	$3.1M	$6.8M	25x	as long as short
Hyperliquid XMR	+0.1611%	1h	594.94	+0.192%	$86.9M	$65.9M	5x	as long as short
HTX XMR-USDT	+0.2310%	8h	592.95	−0.143%	$1.1M	$1.4M	20x	as long as short
Aftermath Perps XMRUSD	+0.2333%	1h	594.63	+0.140%	$2K	$47K	10x	as long as short