Funding arb · Price arb /

XMR

all XMR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0464%/8h= +50.8% APRpaid last 24h +0.073%

Price spread now: Kraken Futures against MEXC−0.414%7-day average −0.173% · you buy dearer than you sell

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$480.476% of the position

Long on MEXC Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.287%+$29 on $10k

Price spread, last 4 days (all we have)+0.263%+$26 · spread now −0.414%, 7d avg −0.173%

Together, before fees+0.550%+$55 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.240% cheaper against MEXC than usual: you would sell low and buy high (spread −0.414% now, against its 7-day average of −0.173%). If the spread goes back, that is −$24 on $10k: about 41 hours of funding at the current rate (+$14 a day). At the pace of the last 7 days (+0.287% in total) that is about 5.9 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.287% in total (about 15.0% 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	MEXC XMR_USDT	583.23	0.0496	pay 0.0496% / 8h	5h 00m	$20.7M	$15.3M	100x
Short	Kraken Futures PF_XMRUSD	580.82	0.0960	get 0.0120% / 1h	0m 31s	$5.5M	$19.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against MEXC. 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 MEXCbpFee Kraken FuturesbpOrdersPrice spread, now −0.414%Rate

Funding earned: $97.47
Price spread: −0.414% → −0.173%: −$24.03
Slippage, 4 orders: −$33.58
Fee MEXC: 2 bp × 2 orders: −$4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $25.86
Costs to cover: 0.476%
Break-even: 5.1 days

Slippage from MEXC: live order book, 3 min ago; Kraken Futures: live order book, 4 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 MEXC live order book, 3 min ago	0.26 bp	3.7 bp −$4	32.5 bp −$325	88.5 bp −$8,854	232.7 bp −$116.3K
Sell Kraken Futures live order book, 4 min ago	8.88 bp	25.0 bp −$25	48.4 bp −$484	155.6 bp −$15.6K	doesn't fit

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 −0.0010%	1h	581.30	−0.331%	$45K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	582.55	−0.117%	$3K	$6K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	581.56	−0.286%	$1.0M	$656K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	581.36	−0.321%	$2K	$1.9M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	581.26	−0.338%	$1.1M	$1.6M	20x	as long as short
Aevo XMR-PERP	+0.0200%	1h	582.21	−0.175%	$12K	—	3x	as long as short
Polymarket Perps XMR-USD	+0.0237%	1h	581.74	−0.255%	$25K	$2.1M	5x	as long as short
dYdX XMR-USD	+0.0272%	1h	581.82	−0.242%	$105K	$44K	5x	as long as short
Bybit XMRUSDT	+0.0465%	8h	583.18	−0.009%	$47.3M	$64.1M	75x	as long as short
Lighter XMR	+0.0480%	1h	582.76	−0.081%	$3.3M	$7.2M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC XMR_USDTlong	+0.0496%	8h	583.23	long leg	$20.7M	$15.3M	100x
Binance XMRUSDT	+0.0497%	8h	583.48	+0.043%	$53.1M	$165.3M	75x	as long as short
Gate XMR_USDT	+0.0510%	8h	582.52	−0.122%	$1.6M	$4.5M	50x	as long as short
BingX XMR-USDT	+0.0558%	8h	583.48	+0.043%	—	$5.7M	—	as long as short
Bitget XMRUSDT	+0.0586%	8h	583.42	+0.033%	$9.6M	$14.1M	50x	as long as short
Backpack XMR_USDC_PERP	+0.0639%	1h	581.91	−0.226%	$171K	$536K	20x	as long as short
KuCoin XMRUSDTM	+0.0651%	8h	582.03	−0.206%	$47.8M	$25.9M	50x	as long as short
Aster XMRUSDT	+0.0704%	8h	582.40	−0.142%	$655K	$2.4M	75x	as long as short
BloFin XMR-USDT	+0.0761%	8h	582.39	−0.144%	$2.8M	$11.3M	75x	as long as short
Paradex XMR-USD-PERP	+0.0864%	8h	583.42	+0.033%	$8K	$4K	20x	as long as short
GRVT XMR_USDT_Perp	+0.0880%	8h	581.98	−0.214%	$338K	$741K	10x	as long as short
Nado XMR-PERP	+0.0944%	1h	583.34	+0.019%	$1.3M	$463K	10x	as long as short
Extended XMR-USD	+0.0960%	1h	583.29	+0.011%	$3.1M	$8.2M	25x	as long as short
Kraken Futures PF_XMRUSDshort	+0.0960%	1h	580.82	−0.414%	$5.5M	$19.6M	50x
Hyperliquid XMR	+0.0963%	1h	582.97	−0.045%	$87.8M	$71.1M	5x	as long as short
Pacifica XMR	+0.0996%	1h	583.11	−0.021%	$269K	$1.1M	10x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.1040% / S −0.1407%	1h	581.08	−0.368%	$648K	—	100x	as long as short
SoDEX XMR-USD	+0.1040%	1h	582.32	−0.156%	$443K	$3K	5x	as long as short
Variational Omni XMR	+0.1047%	8h	581.94	−0.221%	$6.6M	$2.4M	—	as long as short
Orderly PERP_XMR_USDC	+0.1105%	8h	582.08	−0.197%	$41K	$720K	10x	as long as short
Aftermath Perps XMRUSD	+0.2391%	1h	581.85	−0.236%	$2K	$45K	10x	as long as short