Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0771%/8h= −84.4% APRpaid last 24h −0.028%

Price spread now: Lighter against BloFin+0.002%90s7-day average −0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$400.399% of the position

Long on BloFin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.132%−$13 on $10k

Price spread, last 4 days (all we have)−0.082%−$8 · spread now +0.002%, 7d avg −0.039%

Together, before fees−0.214%+ Points / potential airdropLighter: Season 3 · farm board−$21 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.041% dearer against BloFin than usual: you sell high and buy low (spread +0.002% now, against its 7-day average of −0.039%): +$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 (−0.132% in total) that is about 2.2 days. The two prices were read 90 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.132% in total (about -6.9% a year). A funding rate is set anew for every payment. 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	BloFin XMR-USDT	575.44	0.1051	pay 0.1051% / 8h	1h 27m	$2.7M	$10.7M	75x
Short	Lighter XMR	575.45	0.0280	get 0.0035% / 1h	27m 46s	$3.1M	$6.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BloFin. 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 BloFinbpFee LighterbpOrdersPrice spread, now +0.002%Rate

Funding earned: −$161.9
Price spread: +0.002% → −0.039%: $4.07
Slippage, 4 orders: −$27.91
Fee BloFin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$197.74
Costs to cover: 0.399%
Break-even: never at this rate

Slippage from BloFin: live order book, 6 min ago; Lighter: live order book, 10 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 BloFin live order book, 6 min ago	0.26 bp	11.3 bp −$11	16.7 bp −$167	doesn't fit	doesn't fit
Sell Lighter live order book, 10 min ago	3.56 bp	10.1 bp −$10	21.9 bp −$219	113.2 bp −$11.3K	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 −0.0004%	1h	574.15	−0.225%	$32K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	582.55	+1.236%	$3K	$3K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	574.77	−0.116%	$1.0M	$634K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	574.46	−0.170%	$2K	$1.5M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	574.00	−0.250%	$1.1M	$1.4M	20x	as long as short
Aevo XMR-PERP	+0.0240%	1h	575.43	−0.001%	$12K	—	3x	as long as short
Lighter XMRshort	+0.0280%	1h	575.45	+0.002%	$3.1M	$6.2M	10x
KuCoin XMRUSDTM	+0.0320%	8h	575.07	−0.064%	$45.4M	$22.4M	50x	as long as short
Extended XMR-USD	+0.0328%	1h	575.40	−0.006%	$3.0M	$8.3M	25x	as long as short
Polymarket Perps XMR-USD	+0.0483%	1h	574.87	−0.099%	$23K	$2.0M	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget XMRUSDT	+0.0597%	8h	574.40	−0.181%	$9.5M	$11.7M	50x	as long as short
BingX XMR-USDT	+0.0604%	8h	574.27	−0.203%	—	$5.4M	—	as long as short
Bybit XMRUSDT	+0.0631%	8h	574.02	−0.247%	$46.6M	$58.5M	75x	as long as short
Kraken Futures PF_XMRUSD	+0.0633%	1h	574.14	−0.226%	$5.4M	$15.3M	50x	as long as short
Binance XMRUSDT	+0.0633%	8h	575.57	+0.023%	$52.4M	$134.3M	75x	as long as short
MEXC XMR_USDT	+0.0634%	8h	574.93	−0.089%	$20.1M	$14.5M	100x	as long as short
dYdX XMR-USD	+0.0635%	1h	574.34	−0.191%	$104K	$43K	5x	as long as short
Gate XMR_USDT	+0.0673%	8h	575.28	−0.028%	$1.5M	$3.3M	50x	as long as short
Aster XMRUSDT	+0.0791%	8h	575.34	−0.017%	$637K	$2.0M	75x	as long as short
Paradex XMR-USD-PERP	+0.0802%	8h	574.85	−0.103%	$8K	$3K	20x	as long as short
Hyperliquid XMR	+0.0804%	1h	575.62	+0.030%	$87.2M	$65.9M	5x	as long as short
SoDEX XMR-USD	+0.0927%	1h	575.17	−0.047%	$437K	$3K	5x	as long as short
Backpack XMR_USDC_PERP	+0.0935%	1h	574.63	−0.141%	$174K	$492K	20x	as long as short
Nado XMR-PERP	+0.0991%	1h	574.95	−0.086%	$1.3M	$444K	10x	as long as short
GRVT XMR_USDT_Perp	+0.0992%	8h	575.42	−0.004%	$343K	$711K	10x	as long as short
Pacifica XMR	+0.1002%	1h	574.77	−0.116%	$265K	$906K	10x	as long as short
BloFin XMR-USDTlong	+0.1051%	8h	575.44	long leg	$2.7M	$10.7M	75x
Variational Omni XMR	+0.1099%	8h	574.60	−0.145%	$6.2M	$2.4M	—	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.1142% / S −0.1513%	1h	574.07	−0.238%	$595K	—	100x	as long as short
Orderly PERP_XMR_USDC	+0.1186%	8h	574.99	−0.078%	$40K	$588K	10x	as long as short
Aftermath Perps XMRUSD	+0.1915%	1h	574.39	−0.183%	$1K	$41K	10x	as long as short