Funding arb · Price arb /

XMR

all XMR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0829%/8h= −90.8% APRpaid last 24h −0.153%

Price spread now: GRVT against Hyperliquid−0.117%45s7-day average +0.015% · you buy dearer than you sell

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

Long on Hyperliquid Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.071%−$7 on $10k

Price spread, last 3 days (all we have)+0.934%+$93 · spread now −0.117%, 7d avg +0.015%

Together, before fees+0.863%+ Points / potential airdropHyperliquid: Season 2 · GRVT: Active · farm board+$86 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$25 a day on $10k at the current rate, and GRVT is 0.132% cheaper against Hyperliquid than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of +0.015%). Swap the legs. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.071% in total (about -3.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid XMR	591.31	0.1482	pay 0.0185% / 1h	54m 56s	$85.6M	$64.8M	5x
Short	GRVT XMR_USDT_Perp	590.62	0.0653	get 0.0653% / 8h	2h 54m	$346K	$798K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Hyperliquid. 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 HyperliquidbpFee GRVTbpOrdersPrice spread, now −0.117%Rate

Funding earned: −$174.17
Price spread: −0.117% → +0.015%: −$13.2
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$205.37
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 9 min ago; GRVT: live order book, 33 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 Hyperliquid live order book, 9 min ago	1.60 bp	8.5 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell GRVT live order book, 33 min ago	1.19 bp	12.7 bp −$13	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
dYdX XMR-USD	0.0000%	1h	589.74	−0.266%	$107K	$49K	5x	as long as short
gTrade (Gains Network) XMR/USD	L +0.0010% / S −0.0009%	1h	590.17	−0.192%	$45K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	554.47	−6.230%	$3K	$5K	12x	as long as short
Bybit XMRUSDT	+0.0100%	8h	590.05	−0.213%	$47.1M	$60.6M	75x	as long as short
Backpack XMR_USDC_PERP	+0.0100%	1h	590.24	−0.181%	$212K	$555K	20x	as long as short
edgeX XMRUSDC	+0.0100%	4h	589.80	−0.255%	$1.0M	$671K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	590.07	−0.210%	$2K	$1.9M	20x	as long as short
Aevo XMR-PERP	+0.0176%	1h	590.83	−0.082%	$12K	—	3x	as long as short
SoDEX XMR-USD	+0.0259%	1h	591.07	−0.041%	$449K	$4K	5x	as long as short
Polymarket Perps XMR-USD	+0.0264%	1h	591.03	−0.047%	$24K	$1.8M	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XMR	+0.0320%	1h	590.81	−0.085%	$3.5M	$6.6M	10x	as long as short
Gate XMR_USDT	+0.0329%	8h	590.11	−0.203%	$1.6M	$4.5M	50x	as long as short
Variational Omni XMR	+0.0332%	8h	590.44	−0.147%	$6.9M	$2.8M	—	as long as short
Binance XMRUSDT	+0.0386%	8h	590.61	−0.118%	$54.2M	$161.9M	75x	as long as short
MEXC XMR_USDT	+0.0389%	8h	590.50	−0.137%	$22.6M	$15.1M	100x	as long as short
BingX XMR-USDT	+0.0395%	8h	590.27	−0.176%	—	$5.8M	—	as long as short
Bitget XMRUSDT	+0.0411%	8h	590.61	−0.118%	$9.8M	$14.0M	50x	as long as short
BloFin XMR-USDT	+0.0542%	8h	591.16	−0.025%	$2.5M	$11.3M	75x	as long as short
Aster XMRUSDT	+0.0576%	8h	590.80	−0.086%	$669K	$2.4M	75x	as long as short
Kraken Futures PF_XMRUSD	+0.0616%	1h	590.06	−0.212%	$5.5M	$20.3M	50x	as long as short
Pacifica XMR	+0.0619%	1h	590.93	−0.064%	$268K	$1.1M	10x	as long as short
KuCoin XMRUSDTM	+0.0619%	8h	590.17	−0.193%	$49.1M	$25.5M	50x	as long as short
GRVT XMR_USDT_Perpshort	+0.0653%	8h	590.62	−0.117%	$346K	$798K	10x
Nado XMR-PERP	+0.0669%	1h	590.88	−0.073%	$1.3M	$477K	10x	as long as short
Paradex XMR-USD-PERP	+0.0737%	8h	590.85	−0.077%	$8K	$4K	20x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0838% / S −0.1411%	1h	590.22	−0.185%	$351K	—	100x	as long as short
Orderly PERP_XMR_USDC	+0.0879%	8h	590.96	−0.059%	$48K	$729K	10x	as long as short
Extended XMR-USD	+0.1128%	1h	590.28	−0.174%	$3.1M	$6.8M	25x	as long as short
Hyperliquid XMRlong	+0.1482%	1h	591.31	long leg	$85.6M	$64.8M	5x
Aftermath Perps XMRUSD	+0.2228%	1h	590.45	−0.145%	$1K	$47K	10x	as long as short
HTX XMR-USDT	+0.2284%	8h	590.23	−0.183%	$1.1M	$1.4M	20x	as long as short