Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0129%/8h= +14.2% APRpaid last 24h +0.178%

Price spread now: Orderly against GMX+0.262%7-day average +0.158% · you sell dearer than you buy

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

Long on GMX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.506%+$51 on $10k

Price spread, last 3 days (all we have)−0.120%−$12 · spread now +0.262%, 7d avg +0.158%

Together, before fees+0.387%+$39 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Orderly is 0.104% dearer against GMX than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.158%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX XMR/USD [WBTC.b-USDC]	589.12	L +0.0931% / S −0.1147%	pay 0.0116% / 1h	26m 27s	$657K	—	100x
Short	Orderly PERP_XMR_USDC	590.66	0.1060	get 0.1060% / 8h	6h 26m	$42K	$736K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.262%Rate

Funding earned: $27.14
Price spread: +0.262% → +0.158%: $10.36
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: $19.5
Costs to cover: 0.180%
Break-even: 2.0 days

Slippage unknown: GMX: no order-book sample; Orderly: 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 GMX no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

GMX and 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 30 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 −0.0010%	1h	589.30	+0.031%	$35K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	596.76	+1.297%	$3K	$4K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	586.45	−0.454%	$1.0M	$667K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	589.24	+0.021%	$2K	$2.0M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	588.00	−0.190%	$1.1M	$1.6M	20x	as long as short
Aevo XMR-PERP	+0.0208%	1h	590.25	+0.192%	$12K	—	3x	as long as short
dYdX XMR-USD	+0.0492%	1h	588.73	−0.066%	$107K	$50K	5x	as long as short
MEXC XMR_USDT	+0.0509%	8h	590.60	+0.252%	$21.1M	$15.3M	100x	as long as short
Binance XMRUSDT	+0.0515%	8h	590.89	+0.301%	$54.0M	$168.6M	75x	as long as short
Bitget XMRUSDT	+0.0609%	8h	590.67	+0.263%	$9.6M	$14.4M	50x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate XMR_USDT	+0.0659%	8h	590.22	+0.187%	$1.6M	$4.6M	50x	as long as short
Aster XMRUSDT	+0.0695%	8h	590.00	+0.150%	$656K	$2.5M	75x	as long as short
KuCoin XMRUSDTM	+0.0788%	8h	590.14	+0.173%	$48.3M	$26.2M	50x	as long as short
Pacifica XMR	+0.0821%	1h	590.64	+0.258%	$274K	$1.1M	10x	as long as short
BingX XMR-USDT	+0.0857%	8h	590.95	+0.311%	—	$5.8M	—	as long as short
Bybit XMRUSDT	+0.0900%	8h	590.94	+0.309%	$47.7M	$65.1M	75x	as long as short
GMX XMR/USD [WBTC.b-USDC]long	L +0.0931% / S −0.1147%	1h	589.12	long leg	$657K	—	100x
Backpack XMR_USDC_PERP	+0.0950%	1h	589.70	+0.099%	$185K	$534K	20x	as long as short
Variational Omni XMR	+0.1021%	8h	590.91	+0.304%	$6.7M	$2.9M	—	as long as short
GRVT XMR_USDT_Perp	+0.1050%	8h	587.14	−0.336%	$342K	$779K	10x	as long as short
Lighter XMR	+0.1056%	1h	590.26	+0.193%	$3.3M	$7.2M	10x	as long as short
Orderly PERP_XMR_USDCshort	+0.1060%	8h	590.66	+0.262%	$42K	$736K	10x
Polymarket Perps XMR-USD	+0.1081%	1h	590.41	+0.219%	$37K	$2.1M	5x	as long as short
Paradex XMR-USD-PERP	+0.1246%	8h	590.70	+0.269%	$8K	$4K	20x	as long as short
Kraken Futures PF_XMRUSD	+0.1298%	1h	588.89	−0.038%	$5.6M	$20.5M	50x	as long as short
Nado XMR-PERP	+0.1442%	1h	590.56	+0.246%	$1.3M	$467K	10x	as long as short
Hyperliquid XMR	+0.1822%	1h	590.80	+0.286%	$89.3M	$73.8M	5x	as long as short
SoDEX XMR-USD	+0.1831%	1h	590.55	+0.243%	$449K	$3K	5x	as long as short
Extended XMR-USD	+0.2040%	1h	590.52	+0.237%	$3.2M	$8.2M	25x	as long as short
Aftermath Perps XMRUSD	+0.2747%	1h	586.89	−0.378%	$1K	$46K	10x	as long as short