Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0028%/8h= −3.1% APRpaid last 24h −0.007%

Price spread now: BingX against Lighter+0.103%7-day average +0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$320.321% of the position

Long on Lighter Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.154%−$15 on $10k

Price spread, last 7 days−0.065%−$7 · spread now +0.103%, 7d avg +0.032%

Together, before fees−0.219%+ Points / potential airdropLighter: Season 3 · farm board−$22 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.071% dearer against Lighter than usual: you sell high and buy low (spread +0.103% now, against its 7-day average of +0.032%): +$7 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 8.5 days. At the pace of the last 7 days (−0.154% in total) that is about 3.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XMR	585.79	0.0760	pay 0.0095% / 1h	56m 16s	$3.3M	$7.1M	10x
Short	BingX XMR-USDT	586.39	0.0732	get 0.0732% / 8h	5h 56m	—	$5.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Lighter. 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 LighterbpFee BingXbpOrdersPrice spread, now +0.103%Rate

Funding earned: −$5.88
Price spread: +0.103% → +0.032%: $7.11
Slippage, 4 orders: −$22.13
Fee Lighter: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$30.91
Costs to cover: 0.321%
Break-even: never at this rate

Slippage from Lighter: live order book, 7 min ago; BingX: live order book, 9 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 Lighter live order book, 7 min ago	2.64 bp	3.3 bp −$3	12.8 bp −$128	124.5 bp −$12.4K	doesn't fit
Sell BingX live order book, 9 min ago	0.68 bp	12.3 bp −$12	36.2 bp −$362	80.6 bp −$8,062	453.4 bp −$226.7K

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	584.84	−0.163%	$35K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	596.76	+1.873%	$3K	$4K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	586.49	+0.120%	$1.0M	$670K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	585.56	−0.039%	$2K	$1.9M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	585.00	−0.135%	$1.1M	$1.6M	20x	as long as short
Backpack XMR_USDC_PERP	+0.0172%	1h	582.62	−0.541%	$172K	$538K	20x	as long as short
Aevo XMR-PERP	+0.0208%	1h	585.92	+0.023%	$12K	—	3x	as long as short
Binance XMRUSDT	+0.0517%	8h	586.27	+0.082%	$53.5M	$167.2M	75x	as long as short
MEXC XMR_USDT	+0.0517%	8h	586.07	+0.048%	$20.9M	$15.1M	100x	as long as short
Bitget XMRUSDT	+0.0620%	8h	586.20	+0.070%	$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
dYdX XMR-USD	+0.0637%	1h	583.61	−0.372%	$106K	$50K	5x	as long as short
Polymarket Perps XMR-USD	+0.0645%	1h	585.69	−0.017%	$31K	$2.1M	5x	as long as short
Aster XMRUSDT	+0.0703%	8h	584.40	−0.237%	$651K	$2.4M	75x	as long as short
BingX XMR-USDTshort	+0.0732%	8h	586.39	+0.103%	—	$5.8M	—
Lighter XMRlong	+0.0760%	1h	585.79	long leg	$3.3M	$7.1M	10x
Bybit XMRUSDT	+0.0762%	8h	586.10	+0.053%	$47.5M	$64.7M	75x	as long as short
Gate XMR_USDT	+0.0775%	8h	585.63	−0.027%	$1.6M	$4.5M	50x	as long as short
KuCoin XMRUSDTM	+0.0784%	8h	585.09	−0.119%	$48.0M	$26.0M	50x	as long as short
Nado XMR-PERP	+0.0888%	1h	586.00	+0.036%	$1.3M	$462K	10x	as long as short
Kraken Futures PF_XMRUSD	+0.0953%	1h	585.14	−0.111%	$5.5M	$19.9M	50x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0974% / S −0.1249%	1h	584.80	−0.169%	$652K	—	100x	as long as short
Pacifica XMR	+0.0996%	1h	585.00	−0.134%	$269K	$1.1M	10x	as long as short
GRVT XMR_USDT_Perp	+0.1029%	8h	585.01	−0.133%	$343K	$773K	10x	as long as short
Variational Omni XMR	+0.1060%	8h	586.46	+0.115%	$6.7M	$2.5M	—	as long as short
Orderly PERP_XMR_USDC	+0.1086%	8h	585.96	+0.029%	$42K	$736K	10x	as long as short
Paradex XMR-USD-PERP	+0.1176%	8h	585.28	−0.086%	$8K	$4K	20x	as long as short
Hyperliquid XMR	+0.1374%	1h	586.21	+0.072%	$88.5M	$73.1M	5x	as long as short
SoDEX XMR-USD	+0.1596%	1h	586.30	+0.087%	$446K	$3K	5x	as long as short
Extended XMR-USD	+0.1648%	1h	586.12	+0.057%	$3.1M	$8.0M	25x	as long as short
Aftermath Perps XMRUSD	+0.2651%	1h	585.24	−0.093%	$1K	$46K	10x	as long as short