Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0130%/8h= +14.3% APRpaid last 24h +0.055%

Price spread now: Orderly against Hyperliquid−0.171%7-day average −0.009% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Hyperliquid Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.601%+$60 on $10k

Price spread, last 4 days (all we have)+0.185%+$18 · spread now −0.171%, 7d avg −0.009%

Together, before fees+0.785%+ Points / potential airdropHyperliquid: Season 2 · farm board+$79 on $10k · with fees, hour by hour

Funding pays, the price is against you. Orderly is 0.163% cheaper against Hyperliquid than usual: you would sell low and buy high (spread −0.171% now, against its 7-day average of −0.009%). If the spread goes back, that is −$16 on $10k: about 4.2 days of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.601% in total) that is about 45 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid XMR	578.66	0.1066	pay 0.0133% / 1h	14m 40s	$87.4M	$70.9M	5x
Short	Orderly PERP_XMR_USDC	577.67	0.1196	get 0.1196% / 8h	2h 14m	$41K	$670K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Hyperliquid. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 OrderlybpOrdersPrice spread, now −0.171%Rate

Funding earned: $27.36
Price spread: −0.171% → −0.009%: −$16.25
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$3.89
Costs to cover: 0.150%
Break-even: 8.0 days

Slippage unknown: Hyperliquid: live order book, 9 min ago; Orderly: no order-book sample. Net counts fees only.

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, 9 min ago	0.78 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 −0.0004%	1h	576.73	−0.334%	$33K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	582.55	+0.672%	$3K	$3K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	576.48	−0.376%	$1.0M	$642K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	576.80	−0.321%	$2K	$1.8M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	577.00	−0.287%	$1.1M	$1.5M	20x	as long as short
Aevo XMR-PERP	+0.0240%	1h	577.88	−0.134%	$12K	—	3x	as long as short
dYdX XMR-USD	+0.0314%	1h	577.37	−0.223%	$105K	$44K	5x	as long as short
KuCoin XMRUSDTM	+0.0329%	8h	578.32	−0.059%	$45.5M	$26.2M	50x	as long as short
Bitget XMRUSDT	+0.0590%	8h	579.11	+0.078%	$9.5M	$13.1M	50x	as long as short
MEXC XMR_USDT	+0.0630%	8h	578.86	+0.035%	$20.0M	$14.6M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance XMRUSDT	+0.0631%	8h	578.86	+0.035%	$52.9M	$160.5M	75x	as long as short
BingX XMR-USDT	+0.0669%	8h	578.53	−0.022%	—	$5.6M	—	as long as short
Gate XMR_USDT	+0.0670%	8h	578.22	−0.076%	$1.6M	$4.3M	50x	as long as short
Polymarket Perps XMR-USD	+0.0678%	1h	577.56	−0.190%	$27K	$2.1M	5x	as long as short
Bybit XMRUSDT	+0.0710%	8h	578.38	−0.048%	$46.8M	$64.0M	75x	as long as short
Extended XMR-USD	+0.0728%	1h	578.47	−0.033%	$3.1M	$8.2M	25x	as long as short
Kraken Futures PF_XMRUSD	+0.0742%	1h	577.16	−0.259%	$5.5M	$18.8M	50x	as long as short
Aster XMRUSDT	+0.0798%	8h	578.65	−0.002%	$651K	$2.2M	75x	as long as short
Lighter XMR	+0.0896%	1h	578.62	−0.008%	$3.1M	$7.6M	10x	as long as short
Paradex XMR-USD-PERP	+0.0908%	8h	578.71	+0.009%	$8K	$4K	20x	as long as short
Pacifica XMR	+0.0912%	1h	578.68	+0.004%	$267K	$1.0M	10x	as long as short
GRVT XMR_USDT_Perp	+0.1020%	8h	575.69	−0.513%	$346K	$727K	10x	as long as short
BloFin XMR-USDT	+0.1038%	8h	577.98	−0.118%	$2.7M	$11.3M	75x	as long as short
Hyperliquid XMRlong	+0.1066%	1h	578.66	long leg	$87.4M	$70.9M	5x
GMX XMR/USD [WBTC.b-USDC]	L +0.1086% / S −0.1451%	1h	576.57	−0.361%	$597K	—	100x	as long as short
Variational Omni XMR	+0.1180%	8h	576.19	−0.426%	$6.2M	$2.4M	—	as long as short
Orderly PERP_XMR_USDCshort	+0.1196%	8h	577.67	−0.171%	$41K	$670K	10x
Nado XMR-PERP	+0.1229%	1h	577.55	−0.191%	$1.3M	$450K	10x	as long as short
SoDEX XMR-USD	+0.1349%	1h	578.22	−0.076%	$439K	$3K	5x	as long as short
Backpack XMR_USDC_PERP	+0.1415%	1h	577.90	−0.131%	$169K	$532K	20x	as long as short
Aftermath Perps XMRUSD	+0.2037%	1h	575.56	−0.536%	$1K	$42K	10x	as long as short