Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0282%/8h= −30.9% APRpaid last 24h +0.195%

Price spread now: dYdX against GRVT−0.267%50s7-day average −0.184% · you buy dearer than you sell

Net, funding: paid 7d − costs−$686as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$7417.408% of the position

Long on GRVT Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.550%+$55 on $10k

Price spread, last 4 days (all we have)−0.600%−$60 · spread now −0.267%, 7d avg −0.184%

Together, before fees−0.050%+ Points / potential airdropGRVT: Active · farm board−$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and dYdX is 0.083% cheaper against GRVT than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.184%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.550%, so the current rate has only just turned against you. The two prices were read 50 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	GRVT XMR_USDT_Perp	575.97	0.0902	pay 0.0902% / 8h	3h 56m	$345K	$721K	10x
Short	dYdX XMR-USD	574.43	0.0620	get 0.0077% / 1h	56m 30s	$104K	$44K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against GRVT. 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 GRVTbpFee dYdXbpOrdersPrice spread, now −0.267%Rate

Funding earned: −$59.22
Price spread: −0.267% → −0.184%: −$8.33
Slippage, 4 orders: −$721.81
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$808.36
Costs to cover: 7.408%
Break-even: never at this rate

Slippage from GRVT: live order book, 61 min ago; dYdX: live order book, 62 min ago.

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 GRVT live order book, 61 min ago	1.72 bp	448.6 bp −$449	94407.6 bp −$944.1K	doesn't fit	doesn't fit
Sell dYdX live order book, 62 min ago	134.90 bp	139.9 bp −$140	139.9 bp −$1,399	350.6 bp −$35.1K	1587.4 bp −$793.7K

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 −0.0008%	1h	573.84	−0.370%	$50K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	582.55	+1.142%	$3K	$3K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	576.01	+0.007%	$1.0M	$644K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	575.13	−0.146%	$2K	$1.9M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	574.45	−0.264%	$1.1M	$1.6M	20x	as long as short
Lighter XMR	+0.0192%	1h	574.85	−0.195%	$3.2M	$7.5M	10x	as long as short
Aevo XMR-PERP	+0.0208%	1h	575.33	−0.111%	$12K	—	3x	as long as short
Kraken Futures PF_XMRUSD	+0.0225%	1h	573.67	−0.399%	$5.4M	$19.4M	50x	as long as short
Backpack XMR_USDC_PERP	+0.0357%	1h	574.66	−0.227%	$169K	$534K	20x	as long as short
KuCoin XMRUSDTM	+0.0385%	8h	574.01	−0.340%	$44.9M	$26.5M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate XMR_USDT	+0.0447%	8h	574.66	−0.227%	$1.6M	$4.5M	50x	as long as short
Bybit XMRUSDT	+0.0482%	8h	574.78	−0.207%	$46.8M	$64.4M	75x	as long as short
BingX XMR-USDT	+0.0487%	8h	575.35	−0.108%	—	$5.6M	—	as long as short
Bitget XMRUSDT	+0.0511%	8h	574.96	−0.175%	$9.4M	$13.7M	50x	as long as short
MEXC XMR_USDT	+0.0513%	8h	574.88	−0.189%	$20.2M	$14.7M	100x	as long as short
Binance XMRUSDT	+0.0514%	8h	574.82	−0.199%	$52.6M	$164.1M	75x	as long as short
Polymarket Perps XMR-USD	+0.0553%	1h	574.38	−0.276%	$25K	$2.1M	5x	as long as short
dYdX XMR-USDshort	+0.0620%	1h	574.43	−0.267%	$104K	$44K	5x
Pacifica XMR	+0.0682%	1h	574.86	−0.193%	$265K	$1.0M	10x	as long as short
Aster XMRUSDT	+0.0682%	8h	574.41	−0.271%	$637K	$2.3M	75x	as long as short
Extended XMR-USD	+0.0728%	1h	574.72	−0.217%	$3.1M	$8.4M	25x	as long as short
BloFin XMR-USDT	+0.0824%	8h	575.21	−0.132%	$2.7M	$11.2M	75x	as long as short
GRVT XMR_USDT_Perplong	+0.0902%	8h	575.97	long leg	$345K	$721K	10x
Paradex XMR-USD-PERP	+0.0925%	8h	574.86	−0.193%	$8K	$4K	20x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0989% / S −0.1254%	1h	573.53	−0.423%	$591K	—	100x	as long as short
Nado XMR-PERP	+0.1018%	1h	575.10	−0.151%	$1.3M	$460K	10x	as long as short
Hyperliquid XMR	+0.1046%	1h	574.81	−0.201%	$86.5M	$71.2M	5x	as long as short
Variational Omni XMR	+0.1050%	8h	576.81	+0.147%	$6.6M	$2.2M	—	as long as short
SoDEX XMR-USD	+0.1095%	1h	575.22	−0.130%	$437K	$3K	5x	as long as short
Orderly PERP_XMR_USDC	+0.1126%	8h	575.12	−0.148%	$40K	$735K	10x	as long as short
Aftermath Perps XMRUSD	+0.1932%	1h	574.97	−0.173%	$1K	$44K	10x	as long as short