Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.1286%/8h= −140.8% APRpaid last 24h −0.106%

Price spread now: MEXC against Hyperliquid−0.017%7-day average +0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$420.422% of the position

Long on Hyperliquid Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.168%−$17 on $10k

Price spread, last 7 days+0.033%+$3 · spread now −0.017%, 7d avg +0.041%

Together, before fees−0.135%+ Points / potential airdropHyperliquid: Season 2 · farm board−$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$39 a day on $10k at the current rate, and MEXC is 0.058% cheaper against Hyperliquid than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.041%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.168% in total (about -8.8% 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	Hyperliquid XMR	590.76	0.1807	pay 0.0226% / 1h	21m 04s	$89.3M	$73.7M	5x
Short	MEXC XMR_USDT	590.66	0.0521	get 0.0521% / 8h	6h 21m	$21.1M	$15.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Hyperliquid. 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 HyperliquidbpFee MEXCbpOrdersPrice spread, now −0.017%Rate

Funding earned: −$269.98
Price spread: −0.017% → +0.041%: −$5.83
Slippage, 4 orders: −$29.23
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$318.05
Costs to cover: 0.422%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 13 min ago; MEXC: live order book, 3 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 Hyperliquid live order book, 13 min ago	0.94 bp	11.4 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	0.09 bp	16.7 bp −$17	33.8 bp −$338	81.3 bp −$8,130	229.2 bp −$114.6K

XMR on 30 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 −0.0010%	1h	589.52	−0.209%	$35K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	596.76	+1.016%	$3K	$4K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	588.88	−0.319%	$1.1M	$669K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	590.21	−0.093%	$2K	$1.9M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	587.96	−0.474%	$1.1M	$1.6M	20x	as long as short
Aevo XMR-PERP	+0.0208%	1h	590.34	−0.070%	$12K	—	3x	as long as short
dYdX XMR-USD	+0.0444%	1h	588.79	−0.333%	$107K	$50K	5x	as long as short
MEXC XMR_USDTshort	+0.0521%	8h	590.66	−0.017%	$21.1M	$15.3M	100x
Binance XMRUSDT	+0.0522%	8h	590.71	−0.009%	$54.0M	$168.3M	75x	as long as short
Bitget XMRUSDT	+0.0615%	8h	590.74	−0.003%	$9.6M	$14.2M	50x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster XMRUSDT	+0.0703%	8h	590.00	−0.129%	$658K	$2.5M	75x	as long as short
Gate XMR_USDT	+0.0763%	8h	590.22	−0.091%	$1.6M	$4.6M	50x	as long as short
KuCoin XMRUSDTM	+0.0785%	8h	589.86	−0.152%	$48.3M	$26.2M	50x	as long as short
Pacifica XMR	+0.0821%	1h	590.18	−0.098%	$273K	$1.1M	10x	as long as short
BingX XMR-USDT	+0.0853%	8h	590.93	+0.029%	—	$5.8M	—	as long as short
Bybit XMRUSDT	+0.0862%	8h	590.28	−0.081%	$47.6M	$65.0M	75x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0940% / S −0.1166%	1h	589.60	−0.197%	$657K	—	100x	as long as short
Backpack XMR_USDC_PERP	+0.1011%	1h	590.09	−0.113%	$185K	$534K	20x	as long as short
Variational Omni XMR	+0.1027%	8h	590.80	+0.006%	$6.7M	$2.9M	—	as long as short
Orderly PERP_XMR_USDC	+0.1066%	8h	590.58	−0.030%	$42K	$736K	10x	as long as short
Polymarket Perps XMR-USD	+0.1079%	1h	590.45	−0.052%	$32K	$2.1M	5x	as long as short
Lighter XMR	+0.1080%	1h	590.43	−0.056%	$3.3M	$7.2M	10x	as long as short
GRVT XMR_USDT_Perp	+0.1103%	8h	588.79	−0.334%	$345K	$786K	10x	as long as short
Paradex XMR-USD-PERP	+0.1290%	8h	589.83	−0.158%	$8K	$4K	20x	as long as short
Kraken Futures PF_XMRUSD	+0.1297%	1h	589.38	−0.234%	$5.6M	$20.5M	50x	as long as short
Nado XMR-PERP	+0.1507%	1h	590.40	−0.061%	$1.3M	$467K	10x	as long as short
Hyperliquid XMRlong	+0.1807%	1h	590.76	long leg	$89.3M	$73.7M	5x
SoDEX XMR-USD	+0.1840%	1h	590.65	−0.019%	$449K	$3K	5x	as long as short
Extended XMR-USD	+0.2112%	1h	590.49	−0.046%	$3.2M	$8.3M	25x	as long as short
Aftermath Perps XMRUSD	+0.2777%	1h	588.77	−0.337%	$1K	$46K	10x	as long as short