Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0246%/8h= −27.0% APRpaid last 24h −0.024%

Price spread now: GRVT against GMX+0.209%69s7-day average +0.156% · you sell dearer than you buy

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

Long on GMX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.122%−$12 on $10k

Price spread, last 4 days (all we have)−0.036%−$4 · spread now +0.209%, 7d avg +0.156%

Together, before fees−0.158%+ Points / potential airdropGRVT: Active · farm board−$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. GRVT is 0.053% dearer against GMX than usual: you sell high and buy low (spread +0.209% now, against its 7-day average of +0.156%): +$5 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 17 hours. At the pace of the last 3 days (−0.122% in total) that is about 36 hours. The two prices were read 69 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX XMR/USD [WBTC.b-USDC]	571.13	L +0.1077% / S −0.1372%	pay 0.0135% / 1h	59m 57s	$595K	—	100x
Short	GRVT XMR_USDT_Perp	572.32	0.0831	get 0.0831% / 8h	7h 59m	$342K	$630K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against GMX. 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 GMXbpFee GRVTbpOrdersPrice spread, now +0.209%Rate

Funding earned: −$51.69
Price spread: +0.209% → +0.156%: $5.28
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$67.41
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; GRVT: live order book, 38 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 GMX no order-book sample	—	—	—	—	—
Sell GRVT live order book, 38 min ago	1.13 bp	11.4 bp −$11	doesn't fit	doesn't fit	doesn't fit

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 −0.0005%	1h	571.21	+0.013%	$34K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	582.55	+1.999%	$3K	$3K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	571.87	+0.128%	$1.0M	$548K	10x	as long as short
Polymarket Perps XMR-USD	+0.0100%	1h	571.34	+0.036%	$30K	$1.7M	5x	as long as short
SunX XMR-USDT	+0.0100%	8h	571.54	+0.071%	$2K	$1.2M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	571.75	+0.108%	$1.1M	$1.1M	20x	as long as short
Extended XMR-USD	+0.0192%	1h	572.32	+0.207%	$3.0M	$7.8M	25x	as long as short
Aevo XMR-PERP	+0.0200%	1h	572.93	+0.316%	$12K	—	3x	as long as short
KuCoin XMRUSDTM	+0.0320%	8h	571.97	+0.147%	$45.2M	$18.1M	50x	as long as short
Lighter XMR	+0.0376%	1h	572.22	+0.190%	$3.1M	$5.9M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit XMRUSDT	+0.0421%	8h	572.35	+0.213%	$46.4M	$50.0M	75x	as long as short
Gate XMR_USDT	+0.0427%	8h	571.69	+0.098%	$1.6M	$2.9M	50x	as long as short
Binance XMRUSDT	+0.0496%	8h	572.18	+0.184%	$52.2M	$107.3M	75x	as long as short
MEXC XMR_USDT	+0.0497%	8h	572.38	+0.218%	$20.1M	$11.2M	100x	as long as short
BingX XMR-USDT	+0.0498%	8h	572.51	+0.241%	—	$5.3M	—	as long as short
Bitget XMRUSDT	+0.0526%	8h	572.38	+0.218%	$9.4M	$10.2M	50x	as long as short
Backpack XMR_USDC_PERP	+0.0530%	1h	572.27	+0.199%	$155K	$424K	20x	as long as short
Hyperliquid XMR	+0.0536%	1h	572.48	+0.236%	$86.8M	$60.2M	5x	as long as short
Kraken Futures PF_XMRUSD	+0.0619%	1h	571.42	+0.050%	$5.4M	$9.3M	50x	as long as short
Aster XMRUSDT	+0.0630%	8h	572.04	+0.159%	$640K	$1.7M	75x	as long as short
Paradex XMR-USD-PERP	+0.0692%	8h	571.87	+0.129%	$8K	$2K	20x	as long as short
Pacifica XMR	+0.0735%	1h	572.31	+0.206%	$267K	$777K	10x	as long as short
BloFin XMR-USDT	+0.0805%	8h	572.46	+0.232%	$2.7M	$10.0M	75x	as long as short
SoDEX XMR-USD	+0.0809%	1h	572.34	+0.211%	$435K	$3K	5x	as long as short
Variational Omni XMR	+0.0830%	8h	572.53	+0.244%	$6.2M	$2.3M	—	as long as short
GRVT XMR_USDT_Perpshort	+0.0831%	8h	572.32	+0.209%	$342K	$630K	10x
dYdX XMR-USD	+0.0876%	1h	570.93	−0.036%	$103K	$29K	5x	as long as short
Nado XMR-PERP	+0.0938%	1h	572.07	+0.164%	$1.2M	$319K	10x	as long as short
GMX XMR/USD [WBTC.b-USDC]long	L +0.1077% / S −0.1372%	1h	571.13	long leg	$595K	—	100x
Orderly PERP_XMR_USDC	+0.1128%	8h	572.28	+0.201%	$40K	$434K	10x	as long as short
Aftermath Perps XMRUSD	+0.2081%	1h	572.21	+0.188%	$1K	$39K	10x	as long as short