Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h +0.139%

Price spread now: Orderly against Kraken Futures+0.186%7-day average +0.137% · you sell dearer than you buy

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

Long on Kraken Futures Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.550%+$55 on $10k

Price spread, last 3 days (all we have)−0.058%−$6 · spread now +0.186%, 7d avg +0.137%

Together, before fees+0.492%+$49 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Orderly is 0.049% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.186% now, against its 7-day average of +0.137%): +$5 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 16 hours. Mind the row above: over the last 7 days funding on this pair paid +0.550%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XMRUSD	587.44	0.1301	pay 0.0163% / 1h	16m 16s	$5.6M	$20.5M	50x
Short	Orderly PERP_XMR_USDC	588.53	0.1061	get 0.1061% / 8h	6h 16m	$42K	$736K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Kraken Futures. 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 Kraken FuturesbpFee OrderlybpOrdersPrice spread, now +0.186%Rate

Funding earned: −$50.4
Price spread: +0.186% → +0.137%: $4.9
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$61.5
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 3 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 Kraken Futures live order book, 3 min ago	7.56 bp	15.3 bp −$15	27.3 bp −$273	118.6 bp −$11.9K	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 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	587.46	+0.003%	$35K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	596.76	+1.587%	$3K	$4K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	589.93	+0.425%	$1.1M	$669K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	588.53	+0.186%	$2K	$1.9M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	588.24	+0.136%	$1.1M	$1.6M	20x	as long as short
Aevo XMR-PERP	+0.0208%	1h	587.96	+0.089%	$12K	—	3x	as long as short
dYdX XMR-USD	+0.0393%	1h	588.31	+0.148%	$107K	$50K	5x	as long as short
MEXC XMR_USDT	+0.0522%	8h	588.50	+0.181%	$21.0M	$15.3M	100x	as long as short
Binance XMRUSDT	+0.0524%	8h	588.55	+0.189%	$53.7M	$168.2M	75x	as long as short
Bitget XMRUSDT	+0.0617%	8h	588.49	+0.179%	$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	+0.0705%	8h	589.13	+0.288%	$656K	$2.5M	75x	as long as short
Gate XMR_USDT	+0.0788%	8h	588.69	+0.213%	$1.6M	$4.6M	50x	as long as short
BingX XMR-USDT	+0.0794%	8h	588.97	+0.261%	—	$5.8M	—	as long as short
KuCoin XMRUSDTM	+0.0800%	8h	588.00	+0.096%	$48.2M	$26.1M	50x	as long as short
Pacifica XMR	+0.0821%	1h	589.54	+0.358%	$271K	$1.1M	10x	as long as short
Bybit XMRUSDT	+0.0839%	8h	588.24	+0.136%	$47.5M	$65.0M	75x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0948% / S −0.1186%	1h	587.71	+0.046%	$656K	—	100x	as long as short
Polymarket Perps XMR-USD	+0.0999%	1h	588.92	+0.252%	$33K	$2.1M	5x	as long as short
Backpack XMR_USDC_PERP	+0.1019%	1h	589.13	+0.288%	$184K	$534K	20x	as long as short
Variational Omni XMR	+0.1027%	8h	590.80	+0.572%	$6.7M	$2.9M	—	as long as short
Orderly PERP_XMR_USDCshort	+0.1061%	8h	588.53	+0.186%	$42K	$736K	10x
Lighter XMR	+0.1072%	1h	588.66	+0.208%	$3.3M	$7.2M	10x	as long as short
GRVT XMR_USDT_Perp	+0.1092%	8h	589.70	+0.385%	$345K	$786K	10x	as long as short
Paradex XMR-USD-PERP	+0.1278%	8h	589.06	+0.276%	$8K	$4K	20x	as long as short
Kraken Futures PF_XMRUSDlong	+0.1301%	1h	587.44	long leg	$5.6M	$20.5M	50x
Nado XMR-PERP	+0.1493%	1h	589.32	+0.320%	$1.3M	$467K	10x	as long as short
SoDEX XMR-USD	+0.1705%	1h	588.66	+0.208%	$447K	$3K	5x	as long as short
Hyperliquid XMR	+0.1731%	1h	589.28	+0.313%	$89.1M	$73.8M	5x	as long as short
Extended XMR-USD	+0.2040%	1h	588.51	+0.183%	$3.2M	$8.3M	25x	as long as short
Aftermath Perps XMRUSD	+0.2777%	1h	589.13	+0.288%	$1K	$46K	10x	as long as short