Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0258%/8h= +28.2% APRpaid last 24h +0.008%

Price spread now: GMX against Orderly−0.208%7-day average −0.160% · you buy dearer than you sell

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

Long on Orderly Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.329%−$33 on $10k

Price spread, last 4 days (all we have)+0.089%+$9 · spread now −0.208%, 7d avg −0.160%

Together, before fees−0.240%−$24 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.048% cheaper against Orderly than usual: you would sell low and buy high (spread −0.208% now, against its 7-day average of −0.160%). If the spread goes back, that is −$5 on $10k: about 15 hours of funding at the current rate (+$8 a day). Mind the row above: over the last 3 days funding on this pair cost −0.329%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_XMR_USDC	576.34	0.1193	pay 0.1193% / 8h	2h 16m	$41K	$674K	10x
Short	GMX XMR/USD [WBTC.b-USDC]	575.14	L +0.1085% / S −0.1451%	get 0.0181% / 1h	16m 38s	$595K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Orderly. 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 OrderlybpFee GMXbpOrdersPrice spread, now −0.208%Rate

Funding earned: $54.15
Price spread: −0.208% → −0.160%: −$4.8
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee GMX: 6 bp × 2 orders: −$12
Net: $31.35
Costs to cover: 0.180%
Break-even: 2.9 days

Slippage unknown: Orderly: no order-book sample; 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 Orderly no order-book sample	—	—	—	—	—
Sell GMX no order-book sample	—	—	—	—	—

Orderly and 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 −0.0003%	1h	575.11	−0.213%	$38K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	582.55	+1.077%	$3K	$3K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	575.74	−0.105%	$1.0M	$642K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	575.93	−0.071%	$2K	$1.8M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	574.96	−0.239%	$1.1M	$1.5M	20x	as long as short
Aevo XMR-PERP	+0.0240%	1h	576.68	+0.059%	$12K	—	3x	as long as short
KuCoin XMRUSDTM	+0.0323%	8h	575.26	−0.187%	$45.3M	$26.2M	50x	as long as short
dYdX XMR-USD	+0.0329%	1h	574.55	−0.311%	$104K	$44K	5x	as long as short
Bitget XMRUSDT	+0.0586%	8h	576.13	−0.036%	$9.5M	$13.1M	50x	as long as short
MEXC XMR_USDT	+0.0625%	8h	576.10	−0.042%	$19.9M	$14.6M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance XMRUSDT	+0.0627%	8h	575.44	−0.157%	$52.6M	$160.5M	75x	as long as short
Gate XMR_USDT	+0.0665%	8h	574.82	−0.264%	$1.6M	$4.3M	50x	as long as short
BingX XMR-USDT	+0.0669%	8h	576.09	−0.043%	—	$5.6M	—	as long as short
Polymarket Perps XMR-USD	+0.0670%	1h	576.26	−0.014%	$27K	$2.1M	5x	as long as short
Bybit XMRUSDT	+0.0707%	8h	575.74	−0.104%	$46.6M	$64.0M	75x	as long as short
Extended XMR-USD	+0.0720%	1h	575.73	−0.106%	$3.0M	$8.2M	25x	as long as short
Kraken Futures PF_XMRUSD	+0.0744%	1h	575.64	−0.122%	$5.4M	$18.9M	50x	as long as short
Aster XMRUSDT	+0.0787%	8h	574.75	−0.277%	$647K	$2.2M	75x	as long as short
Paradex XMR-USD-PERP	+0.0888%	8h	575.75	−0.102%	$8K	$4K	20x	as long as short
Lighter XMR	+0.0896%	1h	575.60	−0.129%	$3.1M	$7.6M	10x	as long as short
Pacifica XMR	+0.0912%	1h	575.56	−0.135%	$266K	$1.0M	10x	as long as short
GRVT XMR_USDT_Perp	+0.1020%	8h	575.69	−0.113%	$346K	$727K	10x	as long as short
BloFin XMR-USDT	+0.1030%	8h	576.36	+0.003%	$2.7M	$11.2M	75x	as long as short
Hyperliquid XMR	+0.1061%	1h	575.04	−0.226%	$86.8M	$70.9M	5x	as long as short
GMX XMR/USD [WBTC.b-USDC]short	L +0.1085% / S −0.1451%	1h	575.14	−0.208%	$595K	—	100x
Variational Omni XMR	+0.1174%	8h	575.62	−0.124%	$6.4M	$2.3M	—	as long as short
Orderly PERP_XMR_USDClong	+0.1193%	8h	576.34	long leg	$41K	$674K	10x
Nado XMR-PERP	+0.1244%	1h	576.50	+0.029%	$1.3M	$450K	10x	as long as short
SoDEX XMR-USD	+0.1341%	1h	576.55	+0.036%	$438K	$3K	5x	as long as short
Backpack XMR_USDC_PERP	+0.1414%	1h	576.12	−0.038%	$169K	$532K	20x	as long as short
Aftermath Perps XMRUSD	+0.2041%	1h	575.15	−0.207%	$2K	$42K	10x	as long as short