Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.1822%/8h= −199.5% APRpaid last 24h −0.160%

Price spread now: MEXC against dYdX+0.268%7-day average +0.215% · you sell dearer than you buy

Net, funding: paid 7d − costs−$437as in the Funding arb table

Net, price: spread back to 7d avg − costs−$362as in the Price arb table

costs, in and out, $10k−$3673.668% of the position

Long on dYdX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.704%−$70 on $10k

Price spread, last 4 days (all we have)−0.234%−$23 · spread now +0.268%, 7d avg +0.215%

Together, before fees−0.938%−$94 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.053% dearer against dYdX than usual: you sell high and buy low (spread +0.268% now, against its 7-day average of +0.215%): +$5 on $10k if it goes back. Holding the pair costs −$55 a day in funding at the current rate, which eats that in about 2 hours. At the pace of the last 7 days (−0.704% in total) that is about 13 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.704% in total (about -36.7% 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	587.57	0.2203	pay 0.0275% / 1h	31m 49s	$107K	$48K	5x
Short	MEXC XMR_USDT	589.14	0.0381	get 0.0381% / 8h	3h 31m	$22.8M	$15.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.268%Rate

Funding earned: −$382.56
Price spread: +0.268% → +0.215%: $5.27
Slippage, 4 orders: −$352.81
Fee dYdX: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$744.1
Costs to cover: 3.668%
Break-even: never at this rate

Slippage from dYdX: live order book, 17 min ago; MEXC: live order book, 2 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, 17 min ago	31.43 bp	96.2 bp −$96	102.2 bp −$1,022	156.0 bp −$15.6K	536.0 bp −$268.0K
Sell MEXC live order book, 2 min ago	0.68 bp	3.8 bp −$4	29.3 bp −$293	81.6 bp −$8,157	235.1 bp −$117.5K

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	587.90	+0.057%	$45K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	554.47	−5.633%	$3K	$8K	12x	as long as short
Bybit XMRUSDT	+0.0100%	8h	588.88	+0.224%	$47.1M	$60.3M	75x	as long as short
edgeX XMRUSDC	+0.0100%	4h	586.45	−0.189%	$1.0M	$672K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	587.51	−0.010%	$2K	$1.9M	20x	as long as short
Aevo XMR-PERP	+0.0176%	1h	591.80	+0.721%	$12K	—	3x	as long as short
Kraken Futures PF_XMRUSD	+0.0177%	1h	588.27	+0.119%	$5.5M	$20.4M	50x	as long as short
Gate XMR_USDT	+0.0333%	8h	588.77	+0.205%	$1.6M	$4.4M	50x	as long as short
Polymarket Perps XMR-USD	+0.0340%	1h	588.66	+0.186%	$40K	$1.7M	5x	as long as short
Variational Omni XMR	+0.0358%	8h	586.49	−0.183%	$7.0M	$3.1M	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC XMR_USDTshort	+0.0381%	8h	589.14	+0.268%	$22.8M	$15.1M	100x
Binance XMRUSDT	+0.0381%	8h	589.03	+0.249%	$54.3M	$161.5M	75x	as long as short
BingX XMR-USDT	+0.0409%	8h	589.52	+0.332%	—	$5.8M	—	as long as short
Bitget XMRUSDT	+0.0432%	8h	589.37	+0.307%	$9.8M	$14.0M	50x	as long as short
Pacifica XMR	+0.0435%	1h	589.00	+0.244%	$268K	$1.1M	10x	as long as short
BloFin XMR-USDT	+0.0499%	8h	586.35	−0.207%	$2.8M	$11.1M	75x	as long as short
KuCoin XMRUSDTM	+0.0581%	8h	589.14	+0.268%	$49.0M	$25.8M	50x	as long as short
Aster XMRUSDT	+0.0617%	8h	588.69	+0.191%	$666K	$2.4M	75x	as long as short
GRVT XMR_USDT_Perp	+0.0641%	8h	586.66	−0.154%	$341K	$808K	10x	as long as short
Paradex XMR-USD-PERP	+0.0817%	8h	588.96	+0.237%	$8K	$4K	20x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0833% / S −0.1321%	1h	587.75	+0.032%	$354K	—	100x	as long as short
Orderly PERP_XMR_USDC	+0.0865%	8h	589.07	+0.256%	$48K	$736K	10x	as long as short
Backpack XMR_USDC_PERP	+0.0890%	1h	588.83	+0.215%	$169K	$530K	20x	as long as short
SoDEX XMR-USD	+0.0954%	1h	589.28	+0.292%	$448K	$4K	5x	as long as short
Lighter XMR	+0.1008%	1h	589.33	+0.300%	$3.5M	$6.5M	10x	as long as short
Nado XMR-PERP	+0.1085%	1h	588.44	+0.149%	$1.3M	$476K	10x	as long as short
Extended XMR-USD	+0.1256%	1h	588.87	+0.222%	$3.1M	$6.8M	25x	as long as short
Hyperliquid XMR	+0.1974%	1h	590.25	+0.457%	$84.9M	$63.3M	5x	as long as short
Aftermath Perps XMRUSD	+0.2134%	1h	587.44	−0.022%	$2K	$47K	10x	as long as short
dYdX XMR-USDlong	+0.2203%	1h	587.57	long leg	$107K	$48K	5x
HTX XMR-USDT	+0.2386%	8h	587.16	−0.069%	$1.1M	$1.4M	20x	as long as short