Funding arb · Price arb /

XMR

all XMR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.2004%/8h= +219.5% APRpaid last 24h +0.096%

Price spread now: GMX against BingX−0.320%7-day average −0.199% · you buy dearer than you sell

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

Long on BingX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.288%+$29 on $10k

Price spread, last 3 days (all we have)+0.157%+$16 · spread now −0.320%, 7d avg −0.199%

Together, before fees+0.445%+$44 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.121% cheaper against BingX than usual: you would sell low and buy high (spread −0.320% now, against its 7-day average of −0.199%). If the spread goes back, that is −$12 on $10k: about 5 hours of funding at the current rate (+$60 a day). At the pace of the last 3 days (+0.288% in total) that is about 32 hours.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.288% in total (about 33.2% 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	BingX XMR-USDT	589.54	0.0448	pay 0.0448% / 8h	2m 24s	—	$5.8M	—
Short	GMX XMR/USD [WBTC.b-USDC]	587.65	L +0.0867% / S −0.2452%	get 0.0307% / 1h	2m 24s	$546K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against BingX. 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 BingXbpFee GMXbpOrdersPrice spread, now −0.320%Rate

Funding earned: $420.92
Price spread: −0.320% → −0.199%: −$12.08
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $386.84
Costs to cover: 0.220%
Break-even: 0.6 days

Slippage unknown: BingX: live order book, 7 min ago; GMX: no order-book sample. 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 BingX live order book, 7 min ago	0.59 bp	12.1 bp −$12	22.0 bp −$220	97.0 bp −$9,699	1090.4 bp −$545.2K
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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 −0.0009%	1h	587.75	−0.304%	$45K	—	150x	as long as short
edgeX XMRUSDC	+0.0100%	4h	589.34	−0.034%	$1.0M	$665K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	590.85	+0.222%	$2K	$2.0M	20x	as long as short
Aevo XMR-PERP	+0.0168%	1h	589.46	−0.014%	$12K	—	3x	as long as short
Bybit XMRUSDT	+0.0170%	8h	589.51	−0.005%	$47.8M	$64.4M	75x	as long as short
MEXC XMR_USDT	+0.0341%	8h	588.88	−0.112%	$21.5M	$15.2M	100x	as long as short
Binance XMRUSDT	+0.0348%	8h	588.78	−0.128%	$53.9M	$166.2M	75x	as long as short
Lighter XMR	+0.0424%	1h	589.26	−0.047%	$3.3M	$7.2M	10x	as long as short
BingX XMR-USDTlong	+0.0448%	8h	589.54	long leg	—	$5.8M	—
Kraken Futures PF_XMRUSD	+0.0466%	1h	589.65	+0.019%	$5.6M	$20.6M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget XMRUSDT	+0.0474%	8h	588.54	−0.170%	$9.7M	$14.6M	50x	as long as short
Gate XMR_USDT	+0.0480%	8h	588.68	−0.146%	$1.6M	$4.6M	50x	as long as short
BloFin XMR-USDT	+0.0493%	8h	591.15	+0.273%	$2.8M	$11.6M	75x	as long as short
Backpack XMR_USDC_PERP	+0.0523%	1h	589.97	+0.073%	$200K	$579K	20x	as long as short
Pacifica XMR	+0.0565%	1h	589.21	−0.056%	$274K	$1.1M	10x	as long as short
KuCoin XMRUSDTM	+0.0571%	8h	588.00	−0.261%	$48.1M	$26.2M	50x	as long as short
Aster XMRUSDT	+0.0595%	8h	589.22	−0.054%	$632K	$2.4M	75x	as long as short
Variational Omni XMR	+0.0616%	8h	589.83	+0.048%	$6.7M	$2.6M	—	as long as short
GRVT XMR_USDT_Perp	+0.0622%	8h	590.44	+0.153%	$346K	$795K	10x	as long as short
GMX XMR/USD [WBTC.b-USDC]short	L +0.0867% / S −0.2452%	1h	587.65	−0.320%	$546K	—	100x
Polymarket Perps XMR-USD	+0.0964%	1h	589.00	−0.092%	$50K	$1.9M	5x	as long as short
Orderly PERP_XMR_USDC	+0.0969%	8h	589.32	−0.037%	$42K	$734K	10x	as long as short
Paradex XMR-USD-PERP	+0.0973%	8h	588.94	−0.102%	$8K	$4K	20x	as long as short
SoDEX XMR-USD	+0.1154%	1h	590.88	+0.227%	$449K	$3K	5x	as long as short
Nado XMR-PERP	+0.1236%	1h	589.02	−0.088%	$1.3M	$470K	10x	as long as short
Injective XMR/USDC PERP	+0.1312%	1h	596.76	+1.225%	$3K	$6K	12x	as long as short
dYdX XMR-USD	+0.1544%	1h	588.65	−0.150%	$107K	$50K	5x	as long as short
HTX XMR-USDT	+0.1697%	8h	589.96	+0.071%	$1.1M	$1.5M	20x	as long as short
Hyperliquid XMR	+0.1789%	1h	589.17	−0.063%	$88.9M	$72.3M	5x	as long as short
Extended XMR-USD	+0.2112%	1h	588.73	−0.137%	$3.2M	$7.1M	25x	as long as short
Aftermath Perps XMRUSD	+0.2443%	1h	589.06	−0.081%	$2K	$46K	10x	as long as short