Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.138%

Price spread now: Nado against GRVT−0.035%7-day average +0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$486as in the Price arb table

costs, in and out, $10k−$4824.817% of the position

Long on GRVT Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.428%+$43 on $10k

Price spread, last 4 days (all we have)−0.169%−$17 · spread now −0.035%, 7d avg +0.007%

Together, before fees+0.259%+ Points / potential airdropGRVT: Active · Nado: Active · farm board+$26 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.042% cheaper against GRVT than usual: you would sell low and buy high (spread −0.035% now, against its 7-day average of +0.007%). If the spread goes back, that is −$4 on $10k: about 4.4 days of funding at the current rate (+$1 a day). At the pace of the last 3 days (+0.428% in total) that is about 8 hours.

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 57m	$345K	$721K	10x
Short	Nado XMR-PERP	575.77	0.0934	get 0.0117% / 1h	57m 15s	$1.3M	$460K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against GRVT. 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 GRVTbpFee NadobpOrdersPrice spread, now −0.035%Rate

Funding earned: $6.7
Price spread: −0.035% → +0.007%: −$4.21
Slippage, 4 orders: −$465.73
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$479.24
Costs to cover: 4.817%
Break-even: 507.8 days

Slippage from GRVT: live order book, 61 min ago; Nado: live order book, 1 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 Nado live order book, 1 min ago	6.51 bp	13.1 bp −$13	33.4 bp −$334	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 −0.0008%	1h	574.11	−0.323%	$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
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
Lighter XMR	+0.0344%	1h	574.99	−0.171%	$3.2M	$7.5M	10x	as long as short
Backpack XMR_USDC_PERP	+0.0357%	1h	574.66	−0.227%	$169K	$534K	20x	as long as short
KuCoin XMRUSDTM	+0.0388%	8h	574.40	−0.273%	$45.0M	$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	574.82	−0.200%	$1.6M	$4.5M	50x	as long as short
Bybit XMRUSDT	+0.0478%	8h	575.33	−0.111%	$46.9M	$64.4M	75x	as long as short
BingX XMR-USDT	+0.0487%	8h	575.27	−0.122%	—	$5.6M	—	as long as short
Polymarket Perps XMR-USD	+0.0503%	1h	575.01	−0.167%	$25K	$2.1M	5x	as long as short
Bitget XMRUSDT	+0.0511%	8h	575.43	−0.094%	$9.4M	$13.7M	50x	as long as short
MEXC XMR_USDT	+0.0513%	8h	575.26	−0.123%	$20.2M	$14.7M	100x	as long as short
Binance XMRUSDT	+0.0513%	8h	575.34	−0.109%	$52.6M	$164.2M	75x	as long as short
dYdX XMR-USD	+0.0591%	1h	574.43	−0.267%	$104K	$44K	5x	as long as short
Pacifica XMR	+0.0682%	1h	575.75	−0.038%	$266K	$1.0M	10x	as long as short
Aster XMRUSDT	+0.0683%	8h	574.93	−0.181%	$637K	$2.3M	75x	as long as short
Extended XMR-USD	+0.0728%	1h	575.10	−0.150%	$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	575.74	−0.039%	$8K	$4K	20x	as long as short
Nado XMR-PERPshort	+0.0934%	1h	575.77	−0.035%	$1.3M	$460K	10x
GMX XMR/USD [WBTC.b-USDC]	L +0.0989% / S −0.1254%	1h	573.88	−0.363%	$591K	—	100x	as long as short
Hyperliquid XMR	+0.0996%	1h	575.00	−0.168%	$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	+0.1931%	1h	575.40	−0.098%	$1K	$44K	10x	as long as short