Funding arb · Price arb /

XMR

all XMR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0130%/8h= −14.3% APRpaid last 24h −0.055%

Price spread now: Hyperliquid against Orderly+0.171%7-day average +0.009% · you sell dearer than you buy

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

Long on Orderly Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.601%−$60 on $10k

Price spread, last 4 days (all we have)−0.185%−$19 · spread now +0.171%, 7d avg +0.009%

Together, before fees−0.786%+ Points / potential airdropHyperliquid: Season 2 · farm board−$79 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Hyperliquid is 0.163% dearer against Orderly than usual: you sell high and buy low (spread +0.171% now, against its 7-day average of +0.009%): +$16 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 4.2 days. At the pace of the last 7 days (−0.601% in total) that is about 46 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_XMR_USDC	577.67	0.1196	pay 0.1196% / 8h	2h 14m	$41K	$670K	10x
Short	Hyperliquid XMR	578.66	0.1066	get 0.0133% / 1h	14m 39s	$87.4M	$70.9M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Orderly. 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 OrderlybpFee HyperliquidbpOrdersPrice spread, now +0.171%Rate

Funding earned: −$27.36
Price spread: +0.171% → +0.009%: $16.28
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$26.08
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Orderly: no order-book sample; Hyperliquid: live order book, 9 min ago. 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 Orderly no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 9 min ago	0.78 bp	6.1 bp −$6	doesn't fit	doesn't fit	doesn't fit

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 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 −0.0004%	1h	576.73	−0.163%	$33K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	582.55	+0.845%	$3K	$3K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	576.48	−0.205%	$1.0M	$642K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	576.80	−0.151%	$2K	$1.8M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	577.00	−0.116%	$1.1M	$1.5M	20x	as long as short
Aevo XMR-PERP	+0.0240%	1h	577.88	+0.037%	$12K	—	3x	as long as short
dYdX XMR-USD	+0.0314%	1h	577.37	−0.052%	$105K	$44K	5x	as long as short
KuCoin XMRUSDTM	+0.0329%	8h	578.32	+0.113%	$45.5M	$26.2M	50x	as long as short
Bitget XMRUSDT	+0.0590%	8h	579.11	+0.249%	$9.5M	$13.1M	50x	as long as short
MEXC XMR_USDT	+0.0630%	8h	578.86	+0.206%	$20.0M	$14.6M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance XMRUSDT	+0.0631%	8h	578.86	+0.206%	$52.9M	$160.5M	75x	as long as short
BingX XMR-USDT	+0.0669%	8h	578.53	+0.149%	—	$5.6M	—	as long as short
Gate XMR_USDT	+0.0670%	8h	578.22	+0.095%	$1.6M	$4.3M	50x	as long as short
Polymarket Perps XMR-USD	+0.0678%	1h	577.56	−0.019%	$27K	$2.1M	5x	as long as short
Bybit XMRUSDT	+0.0710%	8h	578.38	+0.123%	$46.8M	$64.0M	75x	as long as short
Extended XMR-USD	+0.0728%	1h	578.47	+0.138%	$3.1M	$8.2M	25x	as long as short
Kraken Futures PF_XMRUSD	+0.0742%	1h	577.16	−0.089%	$5.5M	$18.8M	50x	as long as short
Aster XMRUSDT	+0.0798%	8h	578.65	+0.170%	$651K	$2.2M	75x	as long as short
Lighter XMR	+0.0896%	1h	578.62	+0.164%	$3.1M	$7.6M	10x	as long as short
Paradex XMR-USD-PERP	+0.0908%	8h	578.71	+0.181%	$8K	$4K	20x	as long as short
Pacifica XMR	+0.0912%	1h	578.68	+0.176%	$267K	$1.0M	10x	as long as short
GRVT XMR_USDT_Perp	+0.1020%	8h	575.69	−0.343%	$346K	$727K	10x	as long as short
BloFin XMR-USDT	+0.1038%	8h	577.98	+0.054%	$2.7M	$11.3M	75x	as long as short
Hyperliquid XMRshort	+0.1066%	1h	578.66	+0.171%	$87.4M	$70.9M	5x
GMX XMR/USD [WBTC.b-USDC]	L +0.1086% / S −0.1451%	1h	576.57	−0.190%	$597K	—	100x	as long as short
Variational Omni XMR	+0.1180%	8h	576.19	−0.255%	$6.2M	$2.4M	—	as long as short
Orderly PERP_XMR_USDClong	+0.1196%	8h	577.67	long leg	$41K	$670K	10x
Nado XMR-PERP	+0.1229%	1h	577.55	−0.020%	$1.3M	$450K	10x	as long as short
SoDEX XMR-USD	+0.1349%	1h	578.22	+0.095%	$439K	$3K	5x	as long as short
Backpack XMR_USDC_PERP	+0.1415%	1h	577.90	+0.040%	$169K	$532K	20x	as long as short
Aftermath Perps XMRUSD	+0.2037%	1h	575.56	−0.366%	$1K	$42K	10x	as long as short