Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0527%/8h= −57.7% APRpaid last 24h −0.133%

Price spread now: KuCoin against GMX+0.345%134s7-day average +0.110% · you sell dearer than you buy

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

Long on GMX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.334%−$33 on $10k

Price spread, last 4 days (all we have)−0.305%−$31 · spread now +0.345%, 7d avg +0.110%

Together, before fees−0.639%−$64 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.235% dearer against GMX than usual: you sell high and buy low (spread +0.345% now, against its 7-day average of +0.110%): +$23 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 36 hours. The two prices were read 134 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]	569.47	L +0.0982% / S −0.1195%	pay 0.0123% / 1h	59m 13s	$592K	—	100x
Short	KuCoin XMRUSDTM	571.44	0.0455	get 0.0455% / 8h	6h 59m	$45.3M	$17.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.345%Rate

Funding earned: −$110.58
Price spread: +0.345% → +0.110%: $23.48
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$111.1
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; KuCoin: live order book, 10 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 KuCoin live order book, 10 min ago	3.58 bp	16.4 bp −$16	43.6 bp −$436	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	570.03	+0.098%	$34K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	582.55	+2.296%	$3K	$3K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	570.68	+0.211%	$1.0M	$530K	10x	as long as short
Polymarket Perps XMR-USD	+0.0100%	1h	571.29	+0.319%	$30K	$1.5M	5x	as long as short
SunX XMR-USDT	+0.0100%	8h	570.56	+0.191%	$2K	$1.1M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	569.03	−0.078%	$1.0M	$1.0M	20x	as long as short
Lighter XMR	+0.0200%	1h	571.09	+0.283%	$3.0M	$4.7M	10x	as long as short
Aevo XMR-PERP	+0.0200%	1h	571.47	+0.349%	$12K	—	3x	as long as short
Gate XMR_USDT	+0.0377%	8h	570.97	+0.263%	$1.6M	$2.2M	50x	as long as short
KuCoin XMRUSDTMshort	+0.0455%	8h	571.44	+0.345%	$45.3M	$17.0M	50x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC XMR_USDT	+0.0462%	8h	571.24	+0.310%	$19.9M	$8.9M	100x	as long as short
Binance XMRUSDT	+0.0462%	8h	571.27	+0.315%	$52.3M	$96.6M	75x	as long as short
Bybit XMRUSDT	+0.0465%	8h	571.16	+0.296%	$46.4M	$46.6M	75x	as long as short
Hyperliquid XMR	+0.0504%	1h	571.12	+0.289%	$86.7M	$55.9M	5x	as long as short
Pacifica XMR	+0.0550%	1h	571.48	+0.351%	$270K	$698K	10x	as long as short
Aster XMRUSDT	+0.0563%	8h	571.00	+0.268%	$660K	$1.5M	75x	as long as short
BingX XMR-USDT	+0.0573%	8h	571.22	+0.306%	—	$5.0M	—	as long as short
Bitget XMRUSDT	+0.0614%	8h	571.40	+0.338%	$9.3M	$10.0M	50x	as long as short
Extended XMR-USD	+0.0624%	1h	571.22	+0.306%	$3.0M	$7.2M	25x	as long as short
Nado XMR-PERP	+0.0691%	1h	571.68	+0.387%	$1.2M	$228K	10x	as long as short
GRVT XMR_USDT_Perp	+0.0711%	8h	570.46	+0.173%	$331K	$639K	10x	as long as short
Backpack XMR_USDC_PERP	+0.0726%	1h	571.02	+0.271%	$128K	$413K	20x	as long as short
Paradex XMR-USD-PERP	+0.0735%	8h	571.19	+0.300%	$8K	$1K	20x	as long as short
BloFin XMR-USDT	+0.0778%	8h	571.34	+0.328%	$2.7M	$9.6M	75x	as long as short
Variational Omni XMR	+0.0797%	8h	569.95	+0.083%	$6.1M	$2.3M	—	as long as short
Kraken Futures PF_XMRUSD	+0.0856%	1h	570.28	+0.141%	$5.4M	$7.2M	50x	as long as short
SoDEX XMR-USD	+0.0870%	1h	571.44	+0.345%	$434K	$4K	5x	as long as short
GMX XMR/USD [WBTC.b-USDC]long	L +0.0982% / S −0.1195%	1h	569.47	long leg	$592K	—	100x
Orderly PERP_XMR_USDC	+0.1093%	8h	571.24	+0.310%	$41K	$394K	10x	as long as short
dYdX XMR-USD	+0.1796%	1h	570.19	+0.125%	$103K	$26K	5x	as long as short
Aftermath Perps XMRUSD	+0.2057%	1h	571.46	+0.349%	$1K	$37K	10x	as long as short