Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.1776%/8h= +194.5% APRpaid last 24h +0.159%

Price spread now: GMX against KuCoin−0.123%7-day average −0.106% · you buy dearer than you sell

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

Long on KuCoin Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.354%+$35 on $10k

Price spread, last 3 days (all we have)+0.020%+$2 · spread now −0.123%, 7d avg −0.106%

Together, before fees+0.373%+$37 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.106%, so right now this pair is about funding alone: +$53 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.354% in total (about 40.6% 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	KuCoin XMRUSDTM	592.32	0.0676	pay 0.0676% / 8h	7h 35m	$48.5M	$26.1M	50x
Short	GMX XMR/USD [WBTC.b-USDC]	591.59	L +0.0872% / S −0.2452%	get 0.0307% / 1h	35m 25s	$550K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against KuCoin. 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 KuCoinbpFee GMXbpOrdersPrice spread, now −0.123%Rate

Funding earned: $373.04
Price spread: −0.123% → −0.106%: −$1.67
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $347.37
Costs to cover: 0.240%
Break-even: 0.5 days

Slippage unknown: KuCoin: live order book, 4 min ago; GMX: no order-book sample. 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 KuCoin live order book, 4 min ago	4.13 bp	17.9 bp −$18	48.3 bp −$483	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	591.47	−0.144%	$45K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	596.76	+0.750%	$3K	$4K	12x	as long as short
dYdX XMR-USD	+0.0076%	1h	591.47	−0.144%	$107K	$50K	5x	as long as short
edgeX XMRUSDC	+0.0100%	4h	592.20	−0.020%	$1.1M	$659K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	591.93	−0.066%	$2K	$2.0M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	591.95	−0.062%	$1.1M	$1.5M	20x	as long as short
Aevo XMR-PERP	+0.0184%	1h	592.87	+0.094%	$12K	—	3x	as long as short
MEXC XMR_USDT	+0.0422%	8h	592.52	+0.034%	$21.6M	$15.2M	100x	as long as short
Binance XMRUSDT	+0.0425%	8h	592.71	+0.065%	$54.2M	$166.9M	75x	as long as short
Bitget XMRUSDT	+0.0522%	8h	592.92	+0.101%	$9.8M	$14.4M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin XMR-USDT	+0.0604%	8h	592.49	+0.029%	$2.8M	$11.7M	75x	as long as short
Aster XMRUSDT	+0.0637%	8h	592.41	+0.015%	$655K	$2.5M	75x	as long as short
Kraken Futures PF_XMRUSD	+0.0643%	1h	591.78	−0.090%	$5.6M	$20.5M	50x	as long as short
Pacifica XMR	+0.0659%	1h	592.75	+0.073%	$278K	$1.1M	10x	as long as short
KuCoin XMRUSDTMlong	+0.0676%	8h	592.32	long leg	$48.5M	$26.1M	50x
Variational Omni XMR	+0.0813%	8h	593.30	+0.166%	$6.8M	$2.6M	—	as long as short
GMX XMR/USD [WBTC.b-USDC]short	L +0.0872% / S −0.2452%	1h	591.59	−0.123%	$550K	—	100x
Backpack XMR_USDC_PERP	+0.0962%	1h	592.45	+0.022%	$201K	$526K	20x	as long as short
Gate XMR_USDT	+0.1007%	8h	592.36	+0.007%	$1.6M	$4.6M	50x	as long as short
Orderly PERP_XMR_USDC	+0.1027%	8h	592.79	+0.079%	$42K	$738K	10x	as long as short
Paradex XMR-USD-PERP	+0.1170%	8h	592.48	+0.026%	$8K	$4K	20x	as long as short
Lighter XMR	+0.1240%	1h	592.66	+0.058%	$3.3M	$7.1M	10x	as long as short
Polymarket Perps XMR-USD	+0.1317%	1h	592.65	+0.056%	$48K	$1.9M	5x	as long as short
GRVT XMR_USDT_Perp	+0.1340%	8h	593.01	+0.117%	$350K	$804K	10x	as long as short
Nado XMR-PERP	+0.1387%	1h	592.68	+0.061%	$1.3M	$467K	10x	as long as short
SoDEX XMR-USD	+0.1447%	1h	592.94	+0.105%	$451K	$3K	5x	as long as short
BingX XMR-USDT	+0.1447%	8h	592.92	+0.101%	—	$5.8M	—	as long as short
Bybit XMRUSDT	+0.1458%	8h	592.94	+0.105%	$47.8M	$64.5M	75x	as long as short
Hyperliquid XMR	+0.2147%	1h	593.31	+0.167%	$89.9M	$72.4M	5x	as long as short
Extended XMR-USD	+0.2456%	1h	592.90	+0.097%	$3.2M	$7.9M	25x	as long as short
Aftermath Perps XMRUSD	+0.2558%	1h	591.94	−0.064%	$1K	$46K	10x	as long as short