Funding arb · Price arb /

XMR

all XMR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0089%/8h= −9.7% APRpaid last 24h +0.152%

Price spread now: Lighter against GRVT−0.050%48s7-day average −0.019% · you buy dearer than you sell

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

Long on GRVT Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.166%+$17 on $10k

Price spread, last 3 days (all we have)−0.406%−$41 · spread now −0.050%, 7d avg −0.019%

Together, before fees−0.240%+ Points / potential airdropGRVT: Active · Lighter: Season 3 · farm board−$24 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Lighter is 0.031% cheaper against GRVT than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.019%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.166%, so the current rate has only just turned against you. The two prices were read 48 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	598.18	0.0617	pay 0.0617% / 8h	1h 10m	$349K	$797K	10x
Short	Lighter XMR	597.88	0.0528	get 0.0066% / 1h	10m 28s	$3.4M	$6.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.050%Rate

Funding earned: −$18.69
Price spread: −0.050% → −0.019%: −$3.1
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: −$30.79
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 7 min ago; Lighter: live order book, 8 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 GRVT live order book, 7 min ago	1.17 bp	11.4 bp −$11	10228.2 bp −$102.3K	doesn't fit	doesn't fit
Sell Lighter live order book, 8 min ago	3.55 bp	7.8 bp −$8	13.4 bp −$134	136.5 bp −$13.7K	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 −0.0009%	1h	597.23	−0.159%	$45K	—	150x	as long as short
Bybit XMRUSDT	+0.0100%	8h	598.00	−0.031%	$48.6M	$62.0M	75x	as long as short
edgeX XMRUSDC	+0.0100%	4h	597.65	−0.089%	$1.1M	$664K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	597.56	−0.104%	$2K	$1.9M	20x	as long as short
Aevo XMR-PERP	+0.0168%	1h	598.10	−0.015%	$12K	—	3x	as long as short
Variational Omni XMR	+0.0314%	8h	597.50	−0.114%	$6.9M	$2.6M	—	as long as short
Binance XMRUSDT	+0.0336%	8h	598.00	−0.031%	$54.8M	$163.3M	75x	as long as short
MEXC XMR_USDT	+0.0337%	8h	598.13	−0.009%	$22.4M	$15.0M	100x	as long as short
Kraken Futures PF_XMRUSD	+0.0382%	1h	596.78	−0.235%	$5.7M	$20.4M	50x	as long as short
Pacifica XMR	+0.0387%	1h	598.39	+0.035%	$271K	$1.0M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX XMR-USDT	+0.0397%	8h	598.12	−0.011%	—	$5.7M	—	as long as short
Bitget XMRUSDT	+0.0418%	8h	598.07	−0.019%	$10.0M	$14.2M	50x	as long as short
BloFin XMR-USDT	+0.0476%	8h	598.13	−0.009%	$2.8M	$11.6M	75x	as long as short
Lighter XMRshort	+0.0528%	1h	597.88	−0.050%	$3.4M	$6.9M	10x
Gate XMR_USDT	+0.0551%	8h	597.38	−0.134%	$1.7M	$4.6M	50x	as long as short
KuCoin XMRUSDTM	+0.0551%	8h	597.75	−0.073%	$48.7M	$25.8M	50x	as long as short
Aster XMRUSDT	+0.0570%	8h	597.93	−0.042%	$685K	$2.4M	75x	as long as short
GRVT XMR_USDT_Perplong	+0.0617%	8h	598.18	long leg	$349K	$797K	10x
Injective XMR/USDC PERP	+0.0695%	1h	596.76	−0.238%	$3K	$6K	12x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0810% / S −0.1288%	1h	596.98	−0.201%	$331K	—	100x	as long as short
Polymarket Perps XMR-USD	+0.0847%	1h	598.17	−0.002%	$23K	$1.8M	5x	as long as short
SoDEX XMR-USD	+0.0862%	1h	597.93	−0.042%	$454K	$3K	5x	as long as short
Paradex XMR-USD-PERP	+0.0865%	8h	598.19	0.000%	$8K	$4K	20x	as long as short
Orderly PERP_XMR_USDC	+0.0952%	8h	597.79	−0.066%	$44K	$729K	10x	as long as short
Backpack XMR_USDC_PERP	+0.1038%	1h	597.46	−0.121%	$204K	$575K	20x	as long as short
Nado XMR-PERP	+0.1239%	1h	598.14	−0.007%	$1.3M	$475K	10x	as long as short
Extended XMR-USD	+0.1872%	1h	597.92	−0.044%	$3.1M	$6.8M	25x	as long as short
Hyperliquid XMR	+0.1957%	1h	599.06	+0.146%	$89.7M	$69.5M	5x	as long as short
HTX XMR-USDT	+0.1971%	8h	593.64	−0.760%	$1.1M	$1.5M	20x	as long as short
dYdX XMR-USD	+0.1982%	1h	597.13	−0.176%	$108K	$50K	5x	as long as short
Aftermath Perps XMRUSD	+0.2422%	1h	597.77	−0.068%	$2K	$46K	10x	as long as short