Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0156%/8h= +17.1% APRpaid last 24h +0.118%

Price spread now: GMX against Variational Omni−1.393%50s7-day average −0.173% · you buy dearer than you sell

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

Long on Variational Omni Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.188%+$19 on $10k

Price spread, last 3 days (all we have)+1.197%+$120 · spread now −1.393%, 7d avg −0.173%

Together, before fees+1.385%+ Points / potential airdropVariational Omni: Active · farm board+$138 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 1.220% cheaper against Variational Omni than usual: you would sell low and buy high (spread −1.393% now, against its 7-day average of −0.173%). If the spread goes back, that is −$122 on $10k: about 26 days of funding at the current rate (+$5 a day). The two prices were read 50 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	Variational Omni XMR	588.98	0.0967	pay 0.0967% / 8h	6h 41m	$6.7M	$2.7M	—
Short	GMX XMR/USD [WBTC.b-USDC]	580.77	L +0.0914% / S −0.1124%	get 0.0140% / 1h	41m 27s	$658K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Variational Omni. 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 Variational OmnibpFee GMXbpOrdersPrice spread, now −1.393%Rate

Funding earned: $32.85
Price spread: −1.393% → −0.173%: −$122.01
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee GMX: 6 bp × 2 orders: −$12
Net: −$101.16
Costs to cover: 0.120%
Break-even: 28.6 days

Slippage unknown: Variational Omni: RFQ quote, 3 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 Variational Omni RFQ quote, 3 min ago	5.53 bp	doesn't fit	17.7 bp −$177	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	580.88	−1.376%	$33K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	596.76	+1.321%	$3K	$4K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	583.29	−0.965%	$1.0M	$666K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	581.52	−1.266%	$2K	$2.0M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	581.89	−1.204%	$1.1M	$1.6M	20x	as long as short
Aevo XMR-PERP	+0.0200%	1h	582.52	−1.097%	$12K	—	3x	as long as short
Binance XMRUSDT	+0.0467%	8h	582.61	−1.082%	$53.2M	$168.1M	75x	as long as short
MEXC XMR_USDT	+0.0467%	8h	582.67	−1.071%	$21.0M	$15.2M	100x	as long as short
Gate XMR_USDT	+0.0490%	8h	582.09	−1.170%	$1.6M	$4.6M	50x	as long as short
dYdX XMR-USD	+0.0558%	1h	581.28	−1.307%	$105K	$50K	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget XMRUSDT	+0.0575%	8h	582.51	−1.098%	$9.6M	$14.4M	50x	as long as short
Aster XMRUSDT	+0.0639%	8h	581.70	−1.235%	$645K	$2.5M	75x	as long as short
BloFin XMR-USDT	+0.0679%	8h	591.31	+0.396%	$2.7M	$11.6M	75x	as long as short
KuCoin XMRUSDTM	+0.0728%	8h	582.24	−1.144%	$47.7M	$26.2M	50x	as long as short
Backpack XMR_USDC_PERP	+0.0762%	1h	581.79	−1.221%	$182K	$535K	20x	as long as short
Pacifica XMR	+0.0821%	1h	582.44	−1.111%	$268K	$1.1M	10x	as long as short
GMX XMR/USD [WBTC.b-USDC]short	L +0.0914% / S −0.1124%	1h	580.77	−1.393%	$658K	—	100x
BingX XMR-USDT	+0.0938%	8h	582.93	−1.027%	—	$5.8M	—	as long as short
GRVT XMR_USDT_Perp	+0.0949%	8h	585.49	−0.593%	$347K	$789K	10x	as long as short
Variational Omni XMRlong	+0.0967%	8h	588.98	long leg	$6.7M	$2.7M	—
Polymarket Perps XMR-USD	+0.0983%	1h	582.49	−1.102%	$64K	$2.0M	5x	as long as short
Bybit XMRUSDT	+0.0983%	8h	582.47	−1.105%	$46.9M	$65.1M	75x	as long as short
Lighter XMR	+0.0992%	1h	582.31	−1.133%	$3.3M	$7.2M	10x	as long as short
Orderly PERP_XMR_USDC	+0.1048%	8h	582.13	−1.163%	$42K	$735K	10x	as long as short
Paradex XMR-USD-PERP	+0.1228%	8h	582.39	−1.118%	$8K	$4K	20x	as long as short
Kraken Futures PF_XMRUSD	+0.1315%	1h	581.12	−1.334%	$5.5M	$20.5M	50x	as long as short
Nado XMR-PERP	+0.1397%	1h	582.66	−1.073%	$1.3M	$464K	10x	as long as short
SoDEX XMR-USD	+0.1435%	1h	582.30	−1.134%	$443K	$3K	5x	as long as short
Hyperliquid XMR	+0.1639%	1h	582.61	−1.081%	$88.0M	$73.4M	5x	as long as short
Extended XMR-USD	+0.2088%	1h	582.74	−1.060%	$3.2M	$8.2M	25x	as long as short
Aftermath Perps XMRUSD	+0.2745%	1h	585.25	−0.633%	$1K	$46K	10x	as long as short