Funding you earn now, next payment 22:00 UTC+0.0115%/8h= +12.6% APRpaid last 24h +0.254%
Price spread now: Backpack against Bybit+0.111%7-day average −0.055% · you sell dearer than you buy
Net, funding: paid 7d − costs+$73as in the Funding arb table
Net, price: spread back to 7d avg − costs−$28as in the Price arb table
costs, in and out, $10k−$440.444% of the position
Funding, last 7 days+1.170%+$117 on $10k
+Price spread, last 4 days (all we have)−0.111%−$11 · spread now +0.111%, 7d avg −0.055%
=Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Backpack is 0.166% dearer against Bybit than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of −0.055%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit XMRUSDT | 596.29 | 0.0100 | pay 0.0100% / 8h | 2h 22m | $47.9M | $61.0M | 75x |
| Short | Backpack XMR_USDC_PERP | 596.95 | 0.0215 | get 0.0027% / 1h | 22m 37s | $203K | $576K | 20x |
Bybit XMRUSDT
Backpack XMR_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Bybit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $24.22
- Price spread: +0.111% → −0.055%
- $16.56
- Slippage, 4 orders
- −$23.39
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$3.62
- Costs to cover
- 0.444%
- Break-even
- 8.0 days
Slippage from Bybit: live order book, 1 min ago; Backpack: 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 Bybit live order book, 1 min ago | 2.68 bp | 17.7 bp −$18 | 36.1 bp −$361 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 1 min ago | 1.68 bp | 7.0 bp −$7 | 26.9 bp −$269 | 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 | 596.63 | +0.057% | $45K | — | 150x | as long as short |
| Injective XMR/USDC PERP | +0.0033% | 1h | 591.89 | −0.738% | $3K | $6K | 12x | as long as short |
| Bybit XMRUSDTlong | +0.0100% | 8h | 596.29 | long leg | $47.9M | $61.0M | 75x | |
| edgeX XMRUSDC | +0.0100% | 4h | 594.30 | −0.334% | $1.1M | $671K | 10x | as long as short |
| SunX XMR-USDT | +0.0100% | 8h | 596.30 | +0.002% | $2K | $1.9M | 20x | as long as short |
| Aevo XMR-PERP | +0.0168% | 1h | 596.09 | −0.034% | $12K | — | 3x | as long as short |
| Backpack XMR_USDC_PERPshort | +0.0215% | 1h | 596.95 | +0.111% | $203K | $576K | 20x | |
| Variational Omni XMR | +0.0280% | 8h | 593.48 | −0.471% | $6.9M | $2.8M | — | as long as short |
| Lighter XMR | +0.0304% | 1h | 596.90 | +0.102% | $3.5M | $6.7M | 10x | as long as short |
| Polymarket Perps XMR-USD | +0.0307% | 1h | 596.93 | +0.107% | $26K | $1.8M | 5x | as long as short |
gTrade (Gains Network) XMR/USD
Injective XMR/USDC PERP
edgeX XMRUSDC
SunX XMR-USDT
Aevo XMR-PERP
Variational Omni XMR
Lighter XMR
Polymarket Perps XMR-USDShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC XMR_USDT | +0.0355% | 8h | 596.41 | +0.020% | $22.7M | $15.3M | 100x | as long as short |
| Binance XMRUSDT | +0.0360% | 8h | 596.44 | +0.025% | $54.7M | $162.3M | 75x | as long as short |
| BingX XMR-USDT | +0.0372% | 8h | 595.79 | −0.084% | — | $5.8M | — | as long as short |
| Bitget XMRUSDT | +0.0387% | 8h | 596.42 | +0.022% | $9.9M | $14.2M | 50x | as long as short |
| Gate XMR_USDT | +0.0392% | 8h | 596.55 | +0.044% | $1.6M | $4.5M | 50x | as long as short |
| SoDEX XMR-USD | +0.0448% | 1h | 597.20 | +0.153% | $454K | $3K | 5x | as long as short |
| BloFin XMR-USDT | +0.0508% | 8h | 597.21 | +0.154% | $2.8M | $11.4M | 75x | as long as short |
| Aster XMRUSDT | +0.0542% | 8h | 596.71 | +0.071% | $676K | $2.3M | 75x | as long as short |
| dYdX XMR-USD | +0.0595% | 1h | 595.81 | −0.080% | $108K | $50K | 5x | as long as short |
| KuCoin XMRUSDTM | +0.0599% | 8h | 596.39 | +0.017% | $49.5M | $25.5M | 50x | as long as short |
| Kraken Futures PF_XMRUSD | +0.0610% | 1h | 596.29 | −0.001% | $5.7M | $20.4M | 50x | as long as short |
| GRVT XMR_USDT_Perp | +0.0612% | 8h | 592.89 | −0.571% | $348K | $782K | 10x | as long as short |
| Pacifica XMR | +0.0619% | 1h | 597.13 | +0.141% | $270K | $1.0M | 10x | as long as short |
| Paradex XMR-USD-PERP | +0.0766% | 8h | 597.52 | +0.207% | $8K | $4K | 20x | as long as short |
| GMX XMR/USD [WBTC.b-USDC] | L +0.0864% / S −0.1487% | 1h | 596.19 | −0.017% | $369K | — | 100x | as long as short |
| Orderly PERP_XMR_USDC | +0.0892% | 8h | 596.86 | +0.096% | $48K | $724K | 10x | as long as short |
| Nado XMR-PERP | +0.0925% | 1h | 596.52 | +0.038% | $1.3M | $478K | 10x | as long as short |
| Extended XMR-USD | +0.1208% | 1h | 595.86 | −0.071% | $3.1M | $6.8M | 25x | as long as short |
| Hyperliquid XMR | +0.1635% | 1h | 597.84 | +0.260% | $87.3M | $66.0M | 5x | as long as short |
| HTX XMR-USDT | +0.2264% | 8h | 593.00 | −0.552% | $1.1M | $1.4M | 20x | as long as short |
| Aftermath Perps XMRUSD | +0.2325% | 1h | 594.74 | −0.260% | $2K | $47K | 10x | as long as short |
MEXC XMR_USDT
Binance XMRUSDT
BingX XMR-USDT
Bitget XMRUSDT
Gate XMR_USDT
SoDEX XMR-USD
BloFin XMR-USDT
Aster XMRUSDT
dYdX XMR-USD
KuCoin XMRUSDTM
Kraken Futures PF_XMRUSD
GRVT XMR_USDT_Perp
Pacifica XMR
Paradex XMR-USD-PERP
GMX XMR/USD [WBTC.b-USDC]
Orderly PERP_XMR_USDC
Nado XMR-PERP
Extended XMR-USD
Hyperliquid XMR
HTX XMR-USDT
Aftermath Perps XMRUSD