Funding arb · Price arb /

XMR

all XMR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.2106%/8h= +230.6% APRpaid last 24h +0.141%

Price spread now: GMX against Binance−0.231%7-day average −0.191% · you buy dearer than you sell

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

Long on Binance Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.284%+$28 on $10k

Price spread, last 3 days (all we have)+0.069%+$7 · spread now −0.231%, 7d avg −0.191%

Together, before fees+0.353%+$35 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.040% cheaper against Binance than usual: you would sell low and buy high (spread −0.231% now, against its 7-day average of −0.191%). If the spread goes back, that is −$4 on $10k: about 2 hours of funding at the current rate (+$63 a day). At the pace of the last 3 days (+0.284% in total) that is about 11 hours.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.284% in total (about 32.4% 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	Binance XMRUSDT	588.30	0.0437	pay 0.0437% / 8h	7h 05m	$53.7M	$167.0M	75x
Short	GMX XMR/USD [WBTC.b-USDC]	586.94	L +0.0885% / S −0.2543%	get 0.0318% / 1h	5m 00s	$548K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Binance. 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 BinancebpFee GMXbpOrdersPrice spread, now −0.231%Rate

Funding earned: $442.27
Price spread: −0.231% → −0.191%: −$4.04
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $416.23
Costs to cover: 0.220%
Break-even: 0.4 days

Slippage unknown: Binance: live order book, 8 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 Binance live order book, 8 min ago	0.34 bp	12.4 bp −$12	26.3 bp −$263	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	587.07	−0.209%	$34K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	596.76	+1.438%	$3K	$4K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	588.69	+0.067%	$1.0M	$662K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	587.57	−0.124%	$2K	$2.0M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	587.39	−0.155%	$1.1M	$1.6M	20x	as long as short
dYdX XMR-USD	+0.0122%	1h	587.24	−0.181%	$106K	$50K	5x	as long as short
Aevo XMR-PERP	+0.0192%	1h	588.35	+0.008%	$12K	—	3x	as long as short
Binance XMRUSDTlong	+0.0437%	8h	588.30	long leg	$53.7M	$167.0M	75x
MEXC XMR_USDT	+0.0438%	8h	589.31	+0.172%	$21.3M	$15.3M	100x	as long as short
Bitget XMRUSDT	+0.0564%	8h	588.52	+0.037%	$9.7M	$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
Aster XMRUSDT	+0.0632%	8h	588.00	−0.051%	$652K	$2.5M	75x	as long as short
Gate XMR_USDT	+0.0632%	8h	587.69	−0.104%	$1.6M	$4.7M	50x	as long as short
BloFin XMR-USDT	+0.0633%	8h	588.32	+0.003%	$2.7M	$11.5M	75x	as long as short
Kraken Futures PF_XMRUSD	+0.0648%	1h	586.98	−0.224%	$5.6M	$20.5M	50x	as long as short
Pacifica XMR	+0.0659%	1h	588.51	+0.035%	$270K	$1.1M	10x	as long as short
KuCoin XMRUSDTM	+0.0726%	8h	588.61	+0.053%	$48.2M	$26.0M	50x	as long as short
GMX XMR/USD [WBTC.b-USDC]short	L +0.0885% / S −0.2543%	1h	586.94	−0.231%	$548K	—	100x
Variational Omni XMR	+0.0927%	8h	587.94	−0.062%	$6.7M	$2.6M	—	as long as short
GRVT XMR_USDT_Perp	+0.0953%	8h	588.84	+0.092%	$348K	$792K	10x	as long as short
Backpack XMR_USDC_PERP	+0.0986%	1h	587.59	−0.121%	$184K	$535K	20x	as long as short
Orderly PERP_XMR_USDC	+0.1041%	8h	588.08	−0.037%	$43K	$733K	10x	as long as short
Polymarket Perps XMR-USD	+0.1106%	1h	588.16	−0.024%	$48K	$1.9M	5x	as long as short
Lighter XMR	+0.1160%	1h	587.85	−0.076%	$3.3M	$7.2M	10x	as long as short
BingX XMR-USDT	+0.1172%	8h	588.36	+0.010%	—	$5.8M	—	as long as short
Bybit XMRUSDT	+0.1193%	8h	588.70	+0.068%	$47.3M	$64.6M	75x	as long as short
Paradex XMR-USD-PERP	+0.1265%	8h	588.29	−0.002%	$8K	$4K	20x	as long as short
SoDEX XMR-USD	+0.1271%	1h	588.18	−0.020%	$447K	$3K	5x	as long as short
Nado XMR-PERP	+0.1377%	1h	588.49	+0.032%	$1.3M	$464K	10x	as long as short
Hyperliquid XMR	+0.1881%	1h	588.16	−0.024%	$89.2M	$72.7M	5x	as long as short
Extended XMR-USD	+0.2392%	1h	588.59	+0.049%	$3.1M	$8.0M	25x	as long as short
Aftermath Perps XMRUSD	+0.2641%	1h	588.39	+0.016%	$1K	$46K	10x	as long as short