Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0113%/8h= +12.3% APRpaid last 24h +0.159%

Price spread now: Orderly against GMX+0.217%7-day average +0.160% · you sell dearer than you buy

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

Long on GMX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.456%+$46 on $10k

Price spread, last 4 days (all we have)−0.098%−$10 · spread now +0.217%, 7d avg +0.160%

Together, before fees+0.358%+$36 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Orderly is 0.057% dearer against GMX than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.160%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX XMR/USD [WBTC.b-USDC]	575.49	L +0.1084% / S −0.1451%	pay 0.0136% / 1h	6m 34s	$595K	—	100x
Short	Orderly PERP_XMR_USDC	576.74	0.1197	get 0.1197% / 8h	2h 06m	$41K	$649K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against GMX. 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 GMXbpFee OrderlybpOrdersPrice spread, now +0.217%Rate

Funding earned: $23.67
Price spread: +0.217% → +0.160%: $5.69
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: $11.36
Costs to cover: 0.180%
Break-even: 3.6 days

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

GMX and Orderly: 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 −0.0008%	1h	575.54	+0.009%	$42K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	582.55	+1.227%	$3K	$3K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	579.47	+0.691%	$1.0M	$640K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	575.76	+0.047%	$2K	$1.8M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	576.00	+0.088%	$1.1M	$1.5M	20x	as long as short
Aevo XMR-PERP	+0.0240%	1h	575.78	+0.051%	$12K	—	3x	as long as short
KuCoin XMRUSDTM	+0.0328%	8h	575.36	−0.023%	$45.2M	$26.3M	50x	as long as short
dYdX XMR-USD	+0.0421%	1h	574.96	−0.093%	$104K	$44K	5x	as long as short
Bitget XMRUSDT	+0.0590%	8h	577.08	+0.276%	$9.5M	$13.1M	50x	as long as short
Binance XMRUSDT	+0.0638%	8h	576.77	+0.222%	$52.6M	$160.4M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC XMR_USDT	+0.0639%	8h	576.55	+0.184%	$20.2M	$14.7M	100x	as long as short
BingX XMR-USDT	+0.0663%	8h	576.88	+0.241%	—	$5.6M	—	as long as short
Gate XMR_USDT	+0.0673%	8h	575.93	+0.076%	$1.6M	$4.3M	50x	as long as short
Polymarket Perps XMR-USD	+0.0679%	1h	576.82	+0.231%	$23K	$2.1M	5x	as long as short
Extended XMR-USD	+0.0696%	1h	576.70	+0.210%	$3.0M	$8.2M	25x	as long as short
Bybit XMRUSDT	+0.0702%	8h	576.46	+0.168%	$46.9M	$64.3M	75x	as long as short
Kraken Futures PF_XMRUSD	+0.0743%	1h	576.09	+0.104%	$5.4M	$18.7M	50x	as long as short
Lighter XMR	+0.0776%	1h	575.93	+0.076%	$3.1M	$7.6M	10x	as long as short
Aster XMRUSDT	+0.0796%	8h	575.79	+0.052%	$640K	$2.2M	75x	as long as short
Paradex XMR-USD-PERP	+0.0875%	8h	576.55	+0.183%	$8K	$4K	20x	as long as short
Pacifica XMR	+0.0912%	1h	576.17	+0.119%	$267K	$1.0M	10x	as long as short
Hyperliquid XMR	+0.1034%	1h	575.65	+0.028%	$87.0M	$69.1M	5x	as long as short
GRVT XMR_USDT_Perp	+0.1039%	8h	580.27	+0.830%	$349K	$718K	10x	as long as short
BloFin XMR-USDT	+0.1055%	8h	576.90	+0.245%	$2.7M	$11.2M	75x	as long as short
GMX XMR/USD [WBTC.b-USDC]long	L +0.1084% / S −0.1451%	1h	575.49	long leg	$595K	—	100x
Variational Omni XMR	+0.1176%	8h	579.63	+0.720%	$6.2M	$2.4M	—	as long as short
Orderly PERP_XMR_USDCshort	+0.1197%	8h	576.74	+0.217%	$41K	$649K	10x
Nado XMR-PERP	+0.1209%	1h	576.77	+0.222%	$1.3M	$450K	10x	as long as short
SoDEX XMR-USD	+0.1297%	1h	576.91	+0.247%	$438K	$3K	5x	as long as short
Backpack XMR_USDC_PERP	+0.1387%	1h	576.54	+0.182%	$175K	$534K	20x	as long as short
Aftermath Perps XMRUSD	+0.1993%	1h	576.58	+0.189%	$1K	$42K	10x	as long as short