Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0966%/8h= +105.8% APRpaid last 24h −0.469%

Price spread now: Backpack against HTX+0.031%7-day average +0.208% · you sell dearer than you buy

Net, funding: paid 7d − costs−$218as in the Funding arb table

Net, price: spread back to 7d avg − costs−$114as in the Price arb table

costs, in and out, $10k−$970.967% of the position

Long on HTX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−1.214%−$121 on $10k

Price spread, last 4 days (all we have)+0.471%+$47 · spread now +0.031%, 7d avg +0.208%

Together, before fees−0.743%−$74 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.177% cheaper against HTX than usual: you would sell low and buy high (spread +0.031% now, against its 7-day average of +0.208%). If the spread goes back, that is −$18 on $10k: about 15 hours of funding at the current rate (+$29 a day). Mind the row above: over the last 7 days funding on this pair cost −1.214%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XMR-USDT	573.99	0.0100	pay 0.0100% / 8h	7h 56m	$1.1M	$1.1M	20x
Short	Backpack XMR_USDC_PERP	574.17	0.1066	get 0.0133% / 1h	56m 38s	$156K	$422K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against HTX. 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 HTXbpFee BackpackbpOrdersPrice spread, now +0.031%Rate

Funding earned: $202.85
Price spread: +0.031% → +0.208%: −$17.67
Slippage, 4 orders: −$74.74
Fee HTX: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: $88.44
Costs to cover: 0.967%
Break-even: 3.9 days

Slippage from HTX: live order book, 2 min ago; Backpack: live order book, 42 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 HTX live order book, 2 min ago	11.82 bp	44.5 bp −$45	400.5 bp −$4,005	doesn't fit	doesn't fit
Sell Backpack live order book, 42 min ago	0.43 bp	6.9 bp −$7	25.6 bp −$256	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 −0.0005%	1h	573.40	−0.103%	$34K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	582.55	+1.491%	$3K	$3K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	572.24	−0.305%	$1.0M	$542K	10x	as long as short
Polymarket Perps XMR-USD	+0.0100%	1h	572.43	−0.272%	$30K	$1.7M	5x	as long as short
SunX XMR-USDT	+0.0100%	8h	573.01	−0.171%	$2K	$1.2M	20x	as long as short
HTX XMR-USDTlong	+0.0100%	8h	573.99	long leg	$1.1M	$1.1M	20x
Aevo XMR-PERP	+0.0200%	1h	574.43	+0.077%	$12K	—	3x	as long as short
Extended XMR-USD	+0.0208%	1h	574.22	+0.040%	$3.0M	$7.7M	25x	as long as short
KuCoin XMRUSDTM	+0.0339%	8h	574.41	+0.073%	$45.4M	$18.0M	50x	as long as short
Kraken Futures PF_XMRUSD	+0.0371%	1h	573.48	−0.089%	$5.5M	$9.3M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit XMRUSDT	+0.0474%	8h	574.47	+0.084%	$46.6M	$49.7M	75x	as long as short
MEXC XMR_USDT	+0.0495%	8h	574.62	+0.110%	$20.2M	$9.6M	100x	as long as short
GRVT XMR_USDT_Perp	+0.0495%	8h	572.47	−0.264%	$342K	$630K	10x	as long as short
Binance XMRUSDT	+0.0496%	8h	574.82	+0.144%	$52.5M	$106.7M	75x	as long as short
Bitget XMRUSDT	+0.0531%	8h	574.56	+0.099%	$9.4M	$10.1M	50x	as long as short
Pacifica XMR	+0.0550%	1h	574.67	+0.118%	$268K	$757K	10x	as long as short
BingX XMR-USDT	+0.0560%	8h	574.42	+0.075%	—	$5.3M	—	as long as short
Aster XMRUSDT	+0.0628%	8h	574.57	+0.101%	$642K	$1.6M	75x	as long as short
Paradex XMR-USD-PERP	+0.0690%	8h	574.39	+0.070%	$8K	$2K	20x	as long as short
Hyperliquid XMR	+0.0742%	1h	573.75	−0.043%	$87.0M	$60.2M	5x	as long as short
Lighter XMR	+0.0744%	1h	574.50	+0.088%	$3.1M	$5.5M	10x	as long as short
Gate XMR_USDT	+0.0746%	8h	574.32	+0.057%	$1.6M	$2.6M	50x	as long as short
BloFin XMR-USDT	+0.0803%	8h	574.03	+0.007%	$2.7M	$10.0M	75x	as long as short
Variational Omni XMR	+0.0830%	8h	572.53	−0.255%	$6.2M	$2.3M	—	as long as short
Nado XMR-PERP	+0.0908%	1h	574.35	+0.063%	$1.3M	$318K	10x	as long as short
Backpack XMR_USDC_PERPshort	+0.1066%	1h	574.17	+0.031%	$156K	$422K	20x
GMX XMR/USD [WBTC.b-USDC]	L +0.1077% / S −0.1372%	1h	572.95	−0.180%	$596K	—	100x	as long as short
Orderly PERP_XMR_USDC	+0.1121%	8h	574.06	+0.012%	$40K	$434K	10x	as long as short
SoDEX XMR-USD	+0.1232%	1h	574.07	+0.014%	$436K	$3K	5x	as long as short
dYdX XMR-USD	+0.1265%	1h	573.15	−0.147%	$104K	$29K	5x	as long as short
Aftermath Perps XMRUSD	+0.2101%	1h	572.61	−0.241%	$1K	$39K	10x	as long as short