Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0961%/8h= +105.2% APRpaid last 24h +0.076%

Price spread now: GMX against MEXC−0.160%7-day average −0.195% · you buy dearer than you sell

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

Long on MEXC Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.259%+$26 on $10k

Price spread, last 3 days (all we have)−0.043%−$4 · spread now −0.160%, 7d avg −0.195%

Together, before fees+0.216%+$22 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$29 a day on $10k at the current rate, and GMX is 0.035% dearer against MEXC than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.195%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.259% in total (about 30.4% 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	MEXC XMR_USDT	597.60	0.0327	pay 0.0327% / 8h	1h 28m	$22.4M	$15.0M	100x
Short	GMX XMR/USD [WBTC.b-USDC]	596.64	L +0.0809% / S −0.1288%	get 0.0161% / 1h	28m 22s	$331K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against MEXC. 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 MEXCbpFee GMXbpOrdersPrice spread, now −0.160%Rate

Funding earned: $201.72
Price spread: −0.160% → −0.195%: $3.46
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee GMX: 6 bp × 2 orders: −$12
Net: $189.18
Costs to cover: 0.160%
Break-even: 0.4 days

Slippage unknown: MEXC: live order book, 5 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 MEXC live order book, 5 min ago	0.08 bp	14.4 bp −$14	31.0 bp −$310	79.0 bp −$7,897	227.6 bp −$113.8K
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	596.75	−0.142%	$44K	—	150x	as long as short
Bybit XMRUSDT	+0.0100%	8h	597.64	+0.007%	$48.4M	$61.6M	75x	as long as short
edgeX XMRUSDC	+0.0100%	4h	594.36	−0.543%	$1.1M	$665K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	596.72	−0.147%	$2K	$1.9M	20x	as long as short
Aevo XMR-PERP	+0.0160%	1h	596.67	−0.156%	$12K	—	3x	as long as short
Variational Omni XMR	+0.0269%	8h	595.77	−0.306%	$6.9M	$2.6M	—	as long as short
MEXC XMR_USDTlong	+0.0327%	8h	597.60	long leg	$22.4M	$15.0M	100x
Binance XMRUSDT	+0.0328%	8h	597.47	−0.022%	$54.8M	$163.0M	75x	as long as short
BingX XMR-USDT	+0.0378%	8h	597.31	−0.049%	—	$5.7M	—	as long as short
Kraken Futures PF_XMRUSD	+0.0382%	1h	596.73	−0.146%	$5.7M	$20.4M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica XMR	+0.0387%	1h	597.70	+0.017%	$271K	$1.0M	10x	as long as short
Bitget XMRUSDT	+0.0410%	8h	597.94	+0.057%	$10.0M	$14.2M	50x	as long as short
BloFin XMR-USDT	+0.0457%	8h	597.65	+0.008%	$2.8M	$11.5M	75x	as long as short
Gate XMR_USDT	+0.0528%	8h	597.11	−0.082%	$1.6M	$4.6M	50x	as long as short
KuCoin XMRUSDTM	+0.0532%	8h	596.86	−0.124%	$48.7M	$25.9M	50x	as long as short
Aster XMRUSDT	+0.0542%	8h	597.62	+0.003%	$679K	$2.3M	75x	as long as short
GRVT XMR_USDT_Perp	+0.0596%	8h	595.72	−0.315%	$354K	$785K	10x	as long as short
Lighter XMR	+0.0656%	1h	597.59	−0.001%	$3.4M	$6.9M	10x	as long as short
Injective XMR/USDC PERP	+0.0695%	1h	596.76	−0.141%	$3K	$6K	12x	as long as short
GMX XMR/USD [WBTC.b-USDC]short	L +0.0809% / S −0.1288%	1h	596.64	−0.160%	$331K	—	100x
Paradex XMR-USD-PERP	+0.0873%	8h	597.81	+0.035%	$8K	$4K	20x	as long as short
Polymarket Perps XMR-USD	+0.0877%	1h	598.05	+0.075%	$23K	$1.8M	5x	as long as short
Orderly PERP_XMR_USDC	+0.0934%	8h	596.88	−0.120%	$49K	$723K	10x	as long as short
Backpack XMR_USDC_PERP	+0.0934%	1h	597.37	−0.038%	$204K	$575K	20x	as long as short
SoDEX XMR-USD	+0.0949%	1h	597.57	−0.005%	$454K	$3K	5x	as long as short
Nado XMR-PERP	+0.1436%	1h	597.81	+0.035%	$1.3M	$482K	10x	as long as short
dYdX XMR-USD	+0.1553%	1h	595.73	−0.313%	$108K	$50K	5x	as long as short
Extended XMR-USD	+0.1880%	1h	597.24	−0.060%	$3.1M	$6.8M	25x	as long as short
Hyperliquid XMR	+0.2030%	1h	598.11	+0.085%	$89.0M	$68.6M	5x	as long as short
HTX XMR-USDT	+0.2031%	8h	594.96	−0.442%	$1.1M	$1.5M	20x	as long as short
Aftermath Perps XMRUSD	+0.2478%	1h	596.16	−0.241%	$2K	$47K	10x	as long as short