Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0252%/8h= −27.6% APRpaid last 24h −0.016%

Price spread now: Variational Omni against GMX+0.287%7-day average +0.172% · you sell dearer than you buy

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

Long on GMX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.118%−$12 on $10k

Price spread, last 3 days (all we have)−0.138%−$14 · spread now +0.287%, 7d avg +0.172%

Together, before fees−0.256%+ Points / potential airdropVariational Omni: Active · farm board−$26 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.115% dearer against GMX than usual: you sell high and buy low (spread +0.287% now, against its 7-day average of +0.172%): +$11 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 36 hours. At the pace of the last 3 days (−0.118% in total) that is about 3.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX XMR/USD [WBTC.b-USDC]	588.14	L +0.0868% / S −0.2452%	pay 0.0109% / 1h	5m 35s	$547K	—	100x
Short	Variational Omni XMR	589.83	0.0616	get 0.0616% / 8h	5m 35s	$6.7M	$2.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against GMX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now +0.287%Rate

Funding earned: −$52.85
Price spread: +0.287% → +0.172%: $11.48
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$53.37
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Variational Omni: RFQ quote, 4 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 Variational Omni RFQ quote, 4 min ago	2.80 bp	doesn't fit	25.2 bp −$252	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 −0.0009%	1h	588.13	−0.001%	$45K	—	150x	as long as short
edgeX XMRUSDC	+0.0100%	4h	592.05	+0.665%	$1.1M	$664K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	588.94	+0.136%	$2K	$2.0M	20x	as long as short
Bybit XMRUSDT	+0.0155%	8h	589.90	+0.299%	$47.8M	$64.3M	75x	as long as short
Aevo XMR-PERP	+0.0168%	1h	589.62	+0.252%	$12K	—	3x	as long as short
MEXC XMR_USDT	+0.0336%	8h	589.82	+0.286%	$21.6M	$15.1M	100x	as long as short
Binance XMRUSDT	+0.0337%	8h	589.90	+0.300%	$54.0M	$166.0M	75x	as long as short
Lighter XMR	+0.0384%	1h	589.74	+0.272%	$3.3M	$7.2M	10x	as long as short
BingX XMR-USDT	+0.0438%	8h	590.10	+0.333%	—	$5.8M	—	as long as short
Kraken Futures PF_XMRUSD	+0.0467%	1h	588.50	+0.061%	$5.6M	$20.5M	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	+0.0468%	8h	589.83	+0.287%	$9.7M	$14.6M	50x	as long as short
Backpack XMR_USDC_PERP	+0.0470%	1h	589.01	+0.148%	$200K	$579K	20x	as long as short
Gate XMR_USDT	+0.0480%	8h	589.29	+0.196%	$1.6M	$4.6M	50x	as long as short
BloFin XMR-USDT	+0.0489%	8h	588.64	+0.085%	$2.7M	$11.6M	75x	as long as short
KuCoin XMRUSDTM	+0.0563%	8h	588.91	+0.131%	$48.2M	$26.1M	50x	as long as short
Pacifica XMR	+0.0565%	1h	589.86	+0.293%	$274K	$1.1M	10x	as long as short
Aster XMRUSDT	+0.0590%	8h	589.00	+0.147%	$634K	$2.4M	75x	as long as short
Variational Omni XMRshort	+0.0616%	8h	589.83	+0.287%	$6.7M	$2.6M	—
GRVT XMR_USDT_Perp	+0.0621%	8h	591.34	+0.544%	$347K	$795K	10x	as long as short
GMX XMR/USD [WBTC.b-USDC]long	L +0.0868% / S −0.2452%	1h	588.14	long leg	$547K	—	100x
Polymarket Perps XMR-USD	+0.0917%	1h	589.60	+0.248%	$53K	$2.0M	5x	as long as short
Paradex XMR-USD-PERP	+0.0938%	8h	589.48	+0.228%	$8K	$4K	20x	as long as short
Orderly PERP_XMR_USDC	+0.0962%	8h	589.35	+0.206%	$42K	$734K	10x	as long as short
SoDEX XMR-USD	+0.1090%	1h	589.68	+0.262%	$448K	$3K	5x	as long as short
Nado XMR-PERP	+0.1229%	1h	589.76	+0.276%	$1.3M	$470K	10x	as long as short
Injective XMR/USDC PERP	+0.1312%	1h	596.76	+1.466%	$3K	$6K	12x	as long as short
dYdX XMR-USD	+0.1630%	1h	588.17	+0.006%	$106K	$50K	5x	as long as short
HTX XMR-USDT	+0.1728%	8h	589.37	+0.209%	$1.1M	$1.5M	20x	as long as short
Hyperliquid XMR	+0.1763%	1h	589.54	+0.238%	$88.8M	$72.2M	5x	as long as short
Extended XMR-USD	+0.2048%	1h	589.88	+0.296%	$3.2M	$7.0M	25x	as long as short
Aftermath Perps XMRUSD	+0.2421%	1h	589.52	+0.235%	$2K	$46K	10x	as long as short