Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0550%/8h= +60.2% APRpaid last 24h +0.026%

Price spread now: Lighter against MEXC−0.014%7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$420.422% of the position

Long on MEXC Short on Lighter

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−0.033%−$3 · spread now −0.014%, 7d avg −0.039%

Together, before fees+0.150%+ Points / potential airdropLighter: Season 3 · farm board+$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and Lighter is 0.025% dearer against MEXC than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.039%.

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	MEXC XMR_USDT	589.24	0.0522	pay 0.0522% / 8h	6h 16m	$21.0M	$15.3M	100x
Short	Lighter XMR	589.16	0.1072	get 0.0134% / 1h	16m 40s	$3.3M	$7.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.014%Rate

Funding earned: $115.5
Price spread: −0.014% → −0.039%: $2.52
Slippage, 4 orders: −$38.23
Fee MEXC: 2 bp × 2 orders: −$4
Fee Lighter: 0 bp × 2 orders: $0
Net: $75.8
Costs to cover: 0.422%
Break-even: 2.4 days

Slippage from MEXC: live order book, 2 min ago; Lighter: live order book, 7 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, 2 min ago	0.09 bp	17.8 bp −$18	31.4 bp −$314	77.8 bp −$7,782	228.5 bp −$114.3K
Sell Lighter live order book, 7 min ago	2.88 bp	4.6 bp −$5	21.4 bp −$214	154.0 bp −$15.4K	doesn't fit

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	588.65	−0.099%	$35K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	596.76	+1.276%	$3K	$4K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	589.93	+0.118%	$1.1M	$669K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	589.19	−0.008%	$2K	$1.9M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	588.00	−0.210%	$1.1M	$1.6M	20x	as long as short
Aevo XMR-PERP	+0.0208%	1h	589.00	−0.042%	$12K	—	3x	as long as short
dYdX XMR-USD	+0.0393%	1h	588.31	−0.158%	$107K	$50K	5x	as long as short
MEXC XMR_USDTlong	+0.0522%	8h	589.24	long leg	$21.0M	$15.3M	100x
Binance XMRUSDT	+0.0524%	8h	589.37	+0.022%	$53.8M	$168.2M	75x	as long as short
Bitget XMRUSDT	+0.0617%	8h	589.16	−0.014%	$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	589.35	+0.019%	$658K	$2.5M	75x	as long as short
Gate XMR_USDT	+0.0788%	8h	588.69	−0.093%	$1.6M	$4.6M	50x	as long as short
BingX XMR-USDT	+0.0794%	8h	589.50	+0.044%	—	$5.8M	—	as long as short
KuCoin XMRUSDTM	+0.0800%	8h	589.13	−0.019%	$48.3M	$26.1M	50x	as long as short
Pacifica XMR	+0.0821%	1h	589.54	+0.051%	$271K	$1.1M	10x	as long as short
Bybit XMRUSDT	+0.0839%	8h	589.26	+0.003%	$47.6M	$64.9M	75x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0946% / S −0.1181%	1h	588.29	−0.162%	$656K	—	100x	as long as short
Polymarket Perps XMR-USD	+0.1012%	1h	589.44	+0.034%	$33K	$2.1M	5x	as long as short
Backpack XMR_USDC_PERP	+0.1019%	1h	589.13	−0.019%	$184K	$534K	20x	as long as short
Variational Omni XMR	+0.1027%	8h	590.80	+0.264%	$6.7M	$2.9M	—	as long as short
Orderly PERP_XMR_USDC	+0.1062%	8h	589.60	+0.061%	$42K	$736K	10x	as long as short
Lighter XMRshort	+0.1072%	1h	589.16	−0.014%	$3.3M	$7.2M	10x
GRVT XMR_USDT_Perp	+0.1092%	8h	589.70	+0.078%	$345K	$786K	10x	as long as short
Paradex XMR-USD-PERP	+0.1278%	8h	589.06	−0.030%	$8K	$4K	20x	as long as short
Kraken Futures PF_XMRUSD	+0.1299%	1h	588.58	−0.112%	$5.6M	$20.5M	50x	as long as short
Nado XMR-PERP	+0.1490%	1h	589.91	+0.114%	$1.3M	$467K	10x	as long as short
SoDEX XMR-USD	+0.1734%	1h	589.85	+0.104%	$448K	$3K	5x	as long as short
Hyperliquid XMR	+0.1735%	1h	589.45	+0.036%	$89.1M	$73.8M	5x	as long as short
Extended XMR-USD	+0.2056%	1h	589.15	−0.016%	$3.2M	$8.3M	25x	as long as short
Aftermath Perps XMRUSD	+0.2772%	1h	589.23	−0.002%	$1K	$46K	10x	as long as short