Funding arb · Price arb /

XMR

all XMR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0547%/8h= −59.9% APRpaid last 24h −0.026%

Price spread now: MEXC against Lighter+0.022%7-day average +0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$340.337% of the position

Long on Lighter Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.183%−$18 on $10k

Price spread, last 7 days+0.025%+$2 · spread now +0.022%, 7d avg +0.039%

Together, before fees−0.158%+ Points / potential airdropLighter: Season 3 · farm board−$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.039%, so right now this pair is about funding alone: −$16 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.183% in total (about -9.5% 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	Lighter XMR	589.57	0.1072	pay 0.0134% / 1h	18m 19s	$3.3M	$7.2M	10x
Short	MEXC XMR_USDT	589.70	0.0525	get 0.0525% / 8h	6h 18m	$21.0M	$15.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.022%Rate

Funding earned: −$114.87
Price spread: +0.022% → +0.039%: −$1.71
Slippage, 4 orders: −$29.73
Fee Lighter: 0 bp × 2 orders: $0
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$150.31
Costs to cover: 0.337%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; MEXC: live order book, 5 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, 5 min ago	2.88 bp	3.7 bp −$4	10.8 bp −$108	120.0 bp −$12.0K	doesn't fit
Sell MEXC live order book, 5 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	588.48	−0.185%	$35K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	596.76	+1.220%	$3K	$4K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	590.42	+0.143%	$1.1M	$669K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	589.31	−0.044%	$2K	$1.9M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	587.09	−0.421%	$1.1M	$1.6M	20x	as long as short
Aevo XMR-PERP	+0.0208%	1h	590.02	+0.076%	$12K	—	3x	as long as short
dYdX XMR-USD	+0.0412%	1h	588.31	−0.214%	$107K	$50K	5x	as long as short
Binance XMRUSDT	+0.0523%	8h	589.67	+0.016%	$53.9M	$168.3M	75x	as long as short
MEXC XMR_USDTshort	+0.0525%	8h	589.70	+0.022%	$21.0M	$15.3M	100x
Bitget XMRUSDT	+0.0616%	8h	589.88	+0.053%	$9.6M	$14.3M	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	589.79	+0.037%	$658K	$2.5M	75x	as long as short
Gate XMR_USDT	+0.0772%	8h	589.41	−0.027%	$1.6M	$4.6M	50x	as long as short
KuCoin XMRUSDTM	+0.0791%	8h	589.27	−0.051%	$48.3M	$26.2M	50x	as long as short
Pacifica XMR	+0.0821%	1h	589.82	+0.043%	$271K	$1.1M	10x	as long as short
Bybit XMRUSDT	+0.0836%	8h	589.67	+0.017%	$47.6M	$65.0M	75x	as long as short
BingX XMR-USDT	+0.0853%	8h	590.02	+0.076%	—	$5.8M	—	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0945% / S −0.1178%	1h	588.60	−0.164%	$656K	—	100x	as long as short
Backpack XMR_USDC_PERP	+0.1020%	1h	589.16	−0.070%	$184K	$534K	20x	as long as short
Polymarket Perps XMR-USD	+0.1021%	1h	589.31	−0.044%	$33K	$2.1M	5x	as long as short
Variational Omni XMR	+0.1027%	8h	590.80	+0.208%	$6.7M	$2.9M	—	as long as short
Orderly PERP_XMR_USDC	+0.1063%	8h	589.53	−0.007%	$42K	$736K	10x	as long as short
Lighter XMRlong	+0.1072%	1h	589.57	long leg	$3.3M	$7.2M	10x
GRVT XMR_USDT_Perp	+0.1103%	8h	588.79	−0.133%	$345K	$786K	10x	as long as short
Paradex XMR-USD-PERP	+0.1281%	8h	589.54	−0.005%	$8K	$4K	20x	as long as short
Kraken Futures PF_XMRUSD	+0.1299%	1h	588.61	−0.164%	$5.6M	$20.5M	50x	as long as short
Nado XMR-PERP	+0.1493%	1h	589.75	+0.031%	$1.3M	$467K	10x	as long as short
SoDEX XMR-USD	+0.1749%	1h	589.90	+0.056%	$448K	$3K	5x	as long as short
Hyperliquid XMR	+0.1751%	1h	589.63	+0.010%	$89.1M	$73.7M	5x	as long as short
Extended XMR-USD	+0.2088%	1h	589.48	−0.016%	$3.2M	$8.3M	25x	as long as short
Aftermath Perps XMRUSD	+0.2771%	1h	589.13	−0.075%	$1K	$46K	10x	as long as short