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: GRVT against Nado+0.366%61s7-day average −0.007% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

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

Long on Nado Short on GRVT

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)−0.162%−$16 · spread now +0.366%, 7d avg −0.007%

Together, before fees−0.590%+ Points / potential airdropNado: Active · GRVT: Active · farm board−$59 on $10k · with fees, hour by hour

The price spread pays, funding is against you. GRVT is 0.373% dearer against Nado than usual: you sell high and buy low (spread +0.366% now, against its 7-day average of −0.007%): +$37 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 39 days. At the pace of the last 3 days (−0.428% in total) that is about 2.9 days. The two prices were read 61 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado XMR-PERP	575.73	0.0936	pay 0.0117% / 1h	57m 42s	$1.3M	$460K	10x
Short	GRVT XMR_USDT_Perp	577.83	0.0904	get 0.0904% / 8h	3h 57m	$346K	$733K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Nado. 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 NadobpFee GRVTbpOrdersPrice spread, now +0.366%Rate

Funding earned: −$6.76
Price spread: +0.366% → −0.007%: $37.31
Slippage, 4 orders: −$465.73
Fee Nado: 3.5 bp × 2 orders: −$7
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$451.18
Costs to cover: 4.817%
Break-even: never at this rate

Slippage from Nado: live order book, 1 min ago; GRVT: live order book, 60 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 Nado live order book, 1 min ago	6.51 bp	10.7 bp −$11	34.5 bp −$345	15978.3 bp −$1.60M	doesn't fit
Sell GRVT live order book, 60 min ago	1.72 bp	9.3 bp −$9	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 −0.0008%	1h	574.53	−0.207%	$50K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	582.55	+1.185%	$3K	$3K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	576.86	+0.197%	$1.0M	$653K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	575.17	−0.096%	$2K	$1.9M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	575.55	−0.030%	$1.1M	$1.6M	20x	as long as short
Aevo XMR-PERP	+0.0208%	1h	575.72	−0.001%	$12K	—	3x	as long as short
Kraken Futures PF_XMRUSD	+0.0225%	1h	574.16	−0.272%	$5.4M	$19.5M	50x	as long as short
Lighter XMR	+0.0344%	1h	575.39	−0.058%	$3.2M	$7.5M	10x	as long as short
Backpack XMR_USDC_PERP	+0.0348%	1h	575.13	−0.103%	$170K	$534K	20x	as long as short
KuCoin XMRUSDTM	+0.0388%	8h	574.77	−0.166%	$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	+0.0444%	8h	574.82	−0.157%	$1.6M	$4.5M	50x	as long as short
Bybit XMRUSDT	+0.0478%	8h	575.72	−0.001%	$46.9M	$64.4M	75x	as long as short
BingX XMR-USDT	+0.0487%	8h	575.55	−0.030%	—	$5.6M	—	as long as short
Polymarket Perps XMR-USD	+0.0507%	1h	575.43	−0.051%	$25K	$2.1M	5x	as long as short
Bitget XMRUSDT	+0.0511%	8h	575.38	−0.060%	$9.4M	$13.7M	50x	as long as short
MEXC XMR_USDT	+0.0513%	8h	575.68	−0.008%	$20.2M	$14.7M	100x	as long as short
Binance XMRUSDT	+0.0513%	8h	575.82	+0.017%	$52.7M	$164.2M	75x	as long as short
dYdX XMR-USD	+0.0591%	1h	574.43	−0.225%	$104K	$44K	5x	as long as short
Pacifica XMR	+0.0682%	1h	575.75	+0.005%	$266K	$1.0M	10x	as long as short
Aster XMRUSDT	+0.0683%	8h	575.14	−0.102%	$638K	$2.3M	75x	as long as short
Extended XMR-USD	+0.0736%	1h	575.73	0.000%	$3.1M	$8.4M	25x	as long as short
BloFin XMR-USDT	+0.0823%	8h	575.79	+0.011%	$2.7M	$11.2M	75x	as long as short
GRVT XMR_USDT_Perpshort	+0.0904%	8h	577.83	+0.366%	$346K	$733K	10x
Paradex XMR-USD-PERP	+0.0925%	8h	575.74	+0.003%	$8K	$4K	20x	as long as short
Nado XMR-PERPlong	+0.0936%	1h	575.73	long leg	$1.3M	$460K	10x
Hyperliquid XMR	+0.0989%	1h	575.63	−0.017%	$86.6M	$71.2M	5x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0989% / S −0.1254%	1h	574.38	−0.233%	$591K	—	100x	as long as short
Variational Omni XMR	+0.1050%	8h	576.81	+0.189%	$6.6M	$2.2M	—	as long as short
SoDEX XMR-USD	+0.1111%	1h	575.73	+0.001%	$438K	$3K	5x	as long as short
Orderly PERP_XMR_USDC	+0.1126%	8h	575.51	−0.037%	$40K	$735K	10x	as long as short
Aftermath Perps XMRUSD	+0.1929%	1h	575.63	−0.016%	$1K	$44K	10x	as long as short