Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0372%/8h= +40.7% APRpaid last 24h +0.002%

Price spread now: GRVT against Lighter+0.384%78s7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$37as 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−$390.394% of the position

Long on Lighter Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.023%+$2 on $10k

Price spread, last 4 days (all we have)+0.072%+$7 · spread now +0.384%, 7d avg +0.026%

Together, before fees+0.096%+ Points / potential airdropLighter: Season 3 · GRVT: Active · farm board+$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and GRVT is 0.358% dearer against Lighter than usual: you sell high and buy low: +$36 more if the spread goes back to its 7-day average of +0.026%. The two prices were read 78 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 0.023% in total (about 1.2% 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	Lighter XMR	573.50	0.0608	pay 0.0076% / 1h	10m 18s	$3.1M	$7.6M	10x
Short	GRVT XMR_USDT_Perp	575.70	0.0980	get 0.0980% / 8h	3h 10m	$341K	$739K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Lighter. 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 LighterbpFee GRVTbpOrdersPrice spread, now +0.384%Rate

Funding earned: $78.12
Price spread: +0.384% → +0.026%: $35.77
Slippage, 4 orders: −$30.41
Fee Lighter: 0 bp × 2 orders: $0
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $74.48
Costs to cover: 0.394%
Break-even: 0.3 days

Slippage from Lighter: live order book, 3 min ago; GRVT: live order book, 43 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 Lighter live order book, 3 min ago	2.42 bp	3.8 bp −$4	15.8 bp −$158	122.2 bp −$12.2K	doesn't fit
Sell GRVT live order book, 43 min ago	1.13 bp	17.0 bp −$17	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 −0.0003%	1h	572.54	−0.168%	$37K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	582.55	+1.578%	$3K	$3K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	576.00	+0.436%	$1.0M	$642K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	573.19	−0.054%	$2K	$1.9M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	573.00	−0.087%	$1.1M	$1.6M	20x	as long as short
Aevo XMR-PERP	+0.0224%	1h	575.81	+0.403%	$12K	—	3x	as long as short
Kraken Futures PF_XMRUSD	+0.0226%	1h	572.61	−0.155%	$5.4M	$19.1M	50x	as long as short
KuCoin XMRUSDTM	+0.0294%	8h	573.57	+0.012%	$44.9M	$26.4M	50x	as long as short
Paradex XMR-USD-PERP	+0.0485%	8h	573.99	+0.085%	$8K	$4K	20x	as long as short
Bitget XMRUSDT	+0.0521%	8h	573.75	+0.043%	$9.5M	$13.4M	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	+0.0567%	8h	573.31	−0.033%	$1.5M	$4.5M	50x	as long as short
Binance XMRUSDT	+0.0570%	8h	573.48	−0.004%	$52.4M	$163.0M	75x	as long as short
MEXC XMR_USDT	+0.0571%	8h	573.74	+0.042%	$19.8M	$14.7M	100x	as long as short
Lighter XMRlong	+0.0608%	1h	573.50	long leg	$3.1M	$7.6M	10x
BingX XMR-USDT	+0.0613%	8h	573.72	+0.038%	—	$5.6M	—	as long as short
Bybit XMRUSDT	+0.0639%	8h	573.43	−0.012%	$46.6M	$64.3M	75x	as long as short
Pacifica XMR	+0.0682%	1h	573.74	+0.042%	$266K	$1.0M	10x	as long as short
Extended XMR-USD	+0.0688%	1h	573.42	−0.013%	$3.1M	$8.3M	25x	as long as short
Backpack XMR_USDC_PERP	+0.0695%	1h	573.85	+0.061%	$169K	$532K	20x	as long as short
Polymarket Perps XMR-USD	+0.0715%	1h	573.28	−0.039%	$28K	$2.2M	5x	as long as short
Aster XMRUSDT	+0.0722%	8h	573.56	+0.011%	$641K	$2.3M	75x	as long as short
dYdX XMR-USD	+0.0839%	1h	572.66	−0.146%	$104K	$44K	5x	as long as short
BloFin XMR-USDT	+0.0941%	8h	574.72	+0.213%	$2.7M	$11.2M	75x	as long as short
GRVT XMR_USDT_Perpshort	+0.0980%	8h	575.70	+0.384%	$341K	$739K	10x
GMX XMR/USD [WBTC.b-USDC]	L +0.0989% / S −0.1256%	1h	572.34	−0.203%	$590K	—	100x	as long as short
Nado XMR-PERP	+0.1113%	1h	573.72	+0.039%	$1.3M	$458K	10x	as long as short
Variational Omni XMR	+0.1142%	8h	574.39	+0.155%	$6.4M	$2.3M	—	as long as short
Orderly PERP_XMR_USDC	+0.1150%	8h	573.46	−0.007%	$40K	$735K	10x	as long as short
Hyperliquid XMR	+0.1203%	1h	573.31	−0.033%	$86.4M	$71.2M	5x	as long as short
SoDEX XMR-USD	+0.1365%	1h	573.63	+0.022%	$436K	$3K	5x	as long as short
Aftermath Perps XMRUSD	+0.1883%	1h	573.39	−0.019%	$2K	$43K	10x	as long as short