Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.2263%/8h= −247.8% APRpaid last 24h −0.317%

Price spread now: Bybit against dYdX+0.287%7-day average +0.186% · you sell dearer than you buy

Net, funding: paid 7d − costs−$545as in the Funding arb table

Net, price: spread back to 7d avg − costs−$436as in the Price arb table

costs, in and out, $10k−$4464.457% of the position

Long on dYdX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.989%−$99 on $10k

Price spread, last 4 days (all we have)+0.093%+$9 · spread now +0.287%, 7d avg +0.186%

Together, before fees−0.896%−$90 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.101% dearer against dYdX than usual: you sell high and buy low (spread +0.287% now, against its 7-day average of +0.186%): +$10 on $10k if it goes back. Holding the pair costs −$68 a day in funding at the current rate, which eats that in about 4 hours. At the pace of the last 7 days (−0.989% in total) that is about 17 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.989% in total (about -51.6% 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	dYdX XMR-USD	591.11	0.2363	pay 0.0295% / 1h	23m 18s	$107K	$50K	5x
Short	Bybit XMRUSDT	592.81	0.0100	get 0.0100% / 8h	23m 18s	$48.5M	$63.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against dYdX. 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 dYdXbpFee BybitbpOrdersPrice spread, now +0.287%Rate

Funding earned: −$475.25
Price spread: +0.287% → +0.186%: $10.11
Slippage, 4 orders: −$424.65
Fee dYdX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$910.79
Costs to cover: 4.457%
Break-even: never at this rate

Slippage from dYdX: live order book, 56 min ago; Bybit: live order book, 6 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 dYdX live order book, 56 min ago	56.23 bp	127.5 bp −$127	165.3 bp −$1,653	397.2 bp −$39.7K	1441.2 bp −$720.6K
Sell Bybit live order book, 6 min ago	0.67 bp	12.8 bp −$13	30.4 bp −$304	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	590.95	−0.027%	$44K	—	150x	as long as short
Bybit XMRUSDTshort	+0.0100%	8h	592.81	+0.287%	$48.5M	$63.6M	75x
edgeX XMRUSDC	+0.0100%	4h	594.12	+0.509%	$1.1M	$664K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	591.73	+0.105%	$2K	$2.0M	20x	as long as short
Lighter XMR	+0.0112%	1h	592.24	+0.191%	$3.4M	$6.9M	10x	as long as short
Aevo XMR-PERP	+0.0160%	1h	591.22	+0.019%	$12K	—	3x	as long as short
Backpack XMR_USDC_PERP	+0.0162%	1h	591.04	−0.012%	$201K	$575K	20x	as long as short
Binance XMRUSDT	+0.0306%	8h	592.46	+0.229%	$54.3M	$165.2M	75x	as long as short
MEXC XMR_USDT	+0.0306%	8h	592.24	+0.191%	$22.0M	$15.0M	100x	as long as short
BingX XMR-USDT	+0.0415%	8h	592.26	+0.194%	—	$5.7M	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget XMRUSDT	+0.0436%	8h	592.17	+0.179%	$9.7M	$14.5M	50x	as long as short
BloFin XMR-USDT	+0.0441%	8h	592.62	+0.255%	$2.8M	$11.6M	75x	as long as short
Kraken Futures PF_XMRUSD	+0.0465%	1h	590.98	−0.021%	$5.6M	$20.5M	50x	as long as short
Variational Omni XMR	+0.0466%	8h	595.11	+0.677%	$6.9M	$2.6M	—	as long as short
Gate XMR_USDT	+0.0476%	8h	591.65	+0.091%	$1.6M	$4.6M	50x	as long as short
KuCoin XMRUSDTM	+0.0559%	8h	591.49	+0.064%	$48.3M	$26.1M	50x	as long as short
Pacifica XMR	+0.0565%	1h	591.92	+0.137%	$278K	$1.1M	10x	as long as short
Aster XMRUSDT	+0.0577%	8h	592.17	+0.179%	$675K	$2.4M	75x	as long as short
GRVT XMR_USDT_Perp	+0.0586%	8h	594.80	+0.625%	$349K	$794K	10x	as long as short
Polymarket Perps XMR-USD	+0.0719%	1h	592.21	+0.186%	$21K	$1.7M	5x	as long as short
SoDEX XMR-USD	+0.0799%	1h	592.01	+0.152%	$450K	$3K	5x	as long as short
Paradex XMR-USD-PERP	+0.0822%	8h	591.78	+0.113%	$8K	$4K	20x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0870% / S −0.2449%	1h	590.91	−0.033%	$549K	—	100x	as long as short
Orderly PERP_XMR_USDC	+0.0950%	8h	591.97	+0.145%	$41K	$732K	10x	as long as short
Nado XMR-PERP	+0.1136%	1h	592.00	+0.150%	$1.3M	$477K	10x	as long as short
Injective XMR/USDC PERP	+0.1312%	1h	596.76	+0.956%	$3K	$6K	12x	as long as short
Hyperliquid XMR	+0.1646%	1h	592.31	+0.203%	$89.1M	$71.4M	5x	as long as short
Extended XMR-USD	+0.1768%	1h	592.16	+0.177%	$3.2M	$7.0M	25x	as long as short
HTX XMR-USDT	+0.1916%	8h	591.00	−0.019%	$1.1M	$1.5M	20x	as long as short
Aftermath Perps XMRUSD	+0.2289%	1h	594.26	+0.533%	$2K	$46K	10x	as long as short
dYdX XMR-USDlong	+0.2363%	1h	591.11	long leg	$107K	$50K	5x