Funding arb · Price arb /

XMR

all XMR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0113%/8h= +12.4% APRpaid last 24h +0.083%

Price spread now: Hyperliquid against GRVT−0.298%65s7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$283as 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−$2792.794% of the position

Long on GRVT Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.036%−$4 on $10k

Price spread, last 4 days (all we have)−0.520%−$52 · spread now −0.298%, 7d avg −0.015%

Together, before fees−0.556%+ Points / potential airdropGRVT: Active · Hyperliquid: Season 2 · farm board−$56 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.283% cheaper against GRVT than usual: you would sell low and buy high (spread −0.298% now, against its 7-day average of −0.015%). If the spread goes back, that is −$28 on $10k: about 8.3 days of funding at the current rate (+$3 a day). The two prices were read 65 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	589.21	0.0993	pay 0.0993% / 8h	5h 18m	$349K	$766K	10x
Short	Hyperliquid XMR	587.46	0.1106	get 0.0138% / 1h	18m 30s	$88.4M	$71.2M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now −0.298%Rate

Funding earned: $23.73
Price spread: −0.298% → −0.015%: −$28.27
Slippage, 4 orders: −$261.4
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$283.95
Costs to cover: 2.794%
Break-even: 90.8 days

Slippage from GRVT: live order book, 44 min ago; Hyperliquid: live order book, 5 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, 44 min ago	1.53 bp	248.2 bp −$248	92404.1 bp −$924.0K	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 5 min ago	1.27 bp	11.3 bp −$11	doesn't fit	doesn't fit	doesn't fit

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 −0.0010%	1h	586.73	−0.421%	$47K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	582.55	−1.131%	$3K	$6K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	588.94	−0.046%	$1.1M	$657K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	586.90	−0.393%	$2K	$1.9M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	586.95	−0.384%	$1.1M	$1.6M	20x	as long as short
Aevo XMR-PERP	+0.0208%	1h	587.56	−0.281%	$12K	—	3x	as long as short
dYdX XMR-USD	+0.0294%	1h	586.61	−0.442%	$106K	$50K	5x	as long as short
Polymarket Perps XMR-USD	+0.0360%	1h	586.98	−0.379%	$23K	$2.1M	5x	as long as short
Binance XMRUSDT	+0.0519%	8h	587.42	−0.305%	$53.5M	$166.0M	75x	as long as short
MEXC XMR_USDT	+0.0522%	8h	587.52	−0.288%	$20.9M	$15.2M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XMR	+0.0528%	1h	587.61	−0.273%	$3.3M	$7.2M	10x	as long as short
Bybit XMRUSDT	+0.0546%	8h	587.35	−0.316%	$47.7M	$64.2M	75x	as long as short
Gate XMR_USDT	+0.0571%	8h	586.78	−0.413%	$1.6M	$4.5M	50x	as long as short
BingX XMR-USDT	+0.0582%	8h	587.44	−0.301%	—	$5.6M	—	as long as short
Bitget XMRUSDT	+0.0609%	8h	587.39	−0.310%	$9.6M	$14.1M	50x	as long as short
Aster XMRUSDT	+0.0729%	8h	587.49	−0.292%	$662K	$2.4M	75x	as long as short
KuCoin XMRUSDTM	+0.0747%	8h	587.65	−0.266%	$48.3M	$26.0M	50x	as long as short
Backpack XMR_USDC_PERP	+0.0756%	1h	587.06	−0.366%	$172K	$537K	20x	as long as short
BloFin XMR-USDT	+0.0800%	8h	587.74	−0.250%	$2.7M	$11.5M	75x	as long as short
Paradex XMR-USD-PERP	+0.0941%	8h	587.38	−0.312%	$8K	$4K	20x	as long as short
Kraken Futures PF_XMRUSD	+0.0951%	1h	586.10	−0.529%	$5.5M	$19.6M	50x	as long as short
Nado XMR-PERP	+0.0983%	1h	587.50	−0.290%	$1.3M	$463K	10x	as long as short
GRVT XMR_USDT_Perplong	+0.0993%	8h	589.21	long leg	$349K	$766K	10x
Pacifica XMR	+0.0996%	1h	587.66	−0.264%	$273K	$1.1M	10x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.1044% / S −0.1407%	1h	586.70	−0.426%	$654K	—	100x	as long as short
Variational Omni XMR	+0.1080%	8h	588.99	−0.039%	$6.7M	$2.4M	—	as long as short
Hyperliquid XMRshort	+0.1106%	1h	587.46	−0.298%	$88.4M	$71.2M	5x
Orderly PERP_XMR_USDC	+0.1112%	8h	587.52	−0.288%	$41K	$721K	10x	as long as short
SoDEX XMR-USD	+0.1211%	1h	587.64	−0.267%	$447K	$3K	5x	as long as short
Extended XMR-USD	+0.1216%	1h	587.37	−0.314%	$3.2M	$8.0M	25x	as long as short
Aftermath Perps XMRUSD	+0.2525%	1h	587.20	−0.342%	$1K	$45K	10x	as long as short