Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0203%/8h= −22.2% APRpaid last 24h +0.001%

Price spread now: Backpack against Paradex+0.485%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

The price spread pays, funding is against you. Backpack is 0.485% dearer against Paradex than usual: you sell high and buy low (spread +0.485% now, against zero (this spread has no 7-day history yet)): +$48 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 8.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex XMR-USD-PERP	575.79	0.0756	pay 0.0756% / 8h	4h 23m	$8K	$4K	20x
Short	Backpack XMR_USDC_PERP	578.58	0.0553	get 0.0069% / 1h	23m 36s	$170K	$535K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Paradex. 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 ParadexbpFee BackpackbpOrdersPrice spread, now +0.485%Rate

Funding earned: −$42.61
Price spread: +0.485% → 0.000%: $48.47
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$8.13
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; Backpack: live order book, 35 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 Paradex no order-book sample	—	—	—	—	—
Sell Backpack live order book, 35 min ago	0.43 bp	6.5 bp −$6	27.2 bp −$272	doesn't fit	doesn't fit

Paradex: 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
Injective XMR/USDC PERP	−0.0136%	1h	582.55	+1.174%	$3K	$3K	12x	as long as short
gTrade (Gains Network) XMR/USD	L +0.0010% / S −0.0008%	1h	578.41	+0.456%	$51K	—	150x	as long as short
Lighter XMR	+0.0096%	1h	576.54	+0.131%	$3.3M	$7.4M	10x	as long as short
edgeX XMRUSDC	+0.0100%	4h	578.97	+0.553%	$1.0M	$652K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	578.80	+0.523%	$2K	$1.9M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	578.00	+0.384%	$1.1M	$1.6M	20x	as long as short
Kraken Futures PF_XMRUSD	+0.0148%	1h	577.93	+0.372%	$5.4M	$19.5M	50x	as long as short
Aevo XMR-PERP	+0.0200%	1h	579.25	+0.600%	$12K	—	3x	as long as short
Polymarket Perps XMR-USD	+0.0233%	1h	575.18	−0.106%	$26K	$2.2M	5x	as long as short
Gate XMR_USDT	+0.0364%	8h	575.74	−0.009%	$1.6M	$4.5M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit XMRUSDT	+0.0376%	8h	574.76	−0.179%	$46.7M	$64.4M	75x	as long as short
dYdX XMR-USD	+0.0413%	1h	575.98	+0.033%	$104K	$44K	5x	as long as short
MEXC XMR_USDT	+0.0485%	8h	576.53	+0.129%	$20.2M	$15.0M	100x	as long as short
Binance XMRUSDT	+0.0486%	8h	575.51	−0.048%	$52.5M	$164.8M	75x	as long as short
KuCoin XMRUSDTM	+0.0503%	8h	576.76	+0.169%	$45.1M	$26.6M	50x	as long as short
BingX XMR-USDT	+0.0508%	8h	575.55	−0.042%	—	$5.7M	—	as long as short
Bitget XMRUSDT	+0.0524%	8h	575.15	−0.111%	$9.4M	$14.0M	50x	as long as short
Backpack XMR_USDC_PERPshort	+0.0553%	1h	578.58	+0.485%	$170K	$535K	20x
Extended XMR-USD	+0.0624%	1h	575.45	−0.060%	$3.1M	$8.4M	25x	as long as short
Pacifica XMR	+0.0626%	1h	577.13	+0.232%	$267K	$1.1M	10x	as long as short
Aster XMRUSDT	+0.0685%	8h	577.70	+0.331%	$641K	$2.4M	75x	as long as short
Nado XMR-PERP	+0.0749%	1h	575.23	−0.097%	$1.3M	$466K	10x	as long as short
Paradex XMR-USD-PERPlong	+0.0756%	8h	575.79	long leg	$8K	$4K	20x
Hyperliquid XMR	+0.0758%	1h	575.17	−0.108%	$86.4M	$70.9M	5x	as long as short
BloFin XMR-USDT	+0.0782%	8h	579.76	+0.690%	$2.7M	$11.3M	75x	as long as short
GRVT XMR_USDT_Perp	+0.0851%	8h	578.32	+0.440%	$346K	$742K	10x	as long as short
SoDEX XMR-USD	+0.0968%	1h	579.28	+0.606%	$440K	$3K	5x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0992% / S −0.1253%	1h	578.24	+0.425%	$595K	—	100x	as long as short
Variational Omni XMR	+0.1019%	8h	578.47	+0.465%	$6.6M	$2.2M	—	as long as short
Orderly PERP_XMR_USDC	+0.1124%	8h	578.90	+0.540%	$41K	$734K	10x	as long as short
Aftermath Perps XMRUSD	+0.2062%	1h	577.65	+0.323%	$1K	$44K	10x	as long as short