Funding arb · Price arb /

XMR

all XMR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0505%/8h= −55.3% APRpaid last 24h −0.034%

Price spread now: Binance against GMX+0.197%50s7-day average +0.193% · you sell dearer than you buy

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

Long on GMX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.230%−$23 on $10k

Price spread, last 4 days (all we have)−0.025%−$3 · spread now +0.197%, 7d avg +0.193%

Together, before fees−0.255%−$25 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.193%, so right now this pair is about funding alone: −$15 a day on $10k at the current rate. 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	GMX XMR/USD [WBTC.b-USDC]	573.54	L +0.0989% / S −0.1253%	pay 0.0124% / 1h	18m 38s	$590K	—	100x
Short	Binance XMRUSDT	574.67	0.0484	get 0.0484% / 8h	4h 18m	$52.5M	$164.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.197%Rate

Funding earned: −$106
Price spread: +0.197% → +0.193%: $0.36
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$127.64
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Binance: live order book, 10 min ago. 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 Binance live order book, 10 min ago	0.09 bp	11.5 bp −$12	28.2 bp −$282	doesn't fit	doesn't fit

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
Injective XMR/USDC PERP	−0.0136%	1h	582.55	+1.570%	$3K	$3K	12x	as long as short
gTrade (Gains Network) XMR/USD	L +0.0010% / S −0.0008%	1h	573.72	+0.030%	$50K	—	150x	as long as short
Lighter XMR	+0.0096%	1h	574.16	+0.108%	$3.3M	$7.5M	10x	as long as short
edgeX XMRUSDC	+0.0100%	4h	576.43	+0.503%	$1.0M	$653K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	574.39	+0.148%	$2K	$1.9M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	574.00	+0.080%	$1.1M	$1.6M	20x	as long as short
Kraken Futures PF_XMRUSD	+0.0149%	1h	573.46	−0.014%	$5.4M	$19.5M	50x	as long as short
Aevo XMR-PERP	+0.0200%	1h	574.85	+0.228%	$12K	—	3x	as long as short
Polymarket Perps XMR-USD	+0.0293%	1h	574.48	+0.163%	$26K	$2.2M	5x	as long as short
Gate XMR_USDT	+0.0373%	8h	574.32	+0.135%	$1.6M	$4.5M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit XMRUSDT	+0.0388%	8h	575.05	+0.263%	$46.8M	$64.4M	75x	as long as short
dYdX XMR-USD	+0.0395%	1h	573.73	+0.032%	$104K	$44K	5x	as long as short
KuCoin XMRUSDTM	+0.0460%	8h	573.76	+0.038%	$44.9M	$26.7M	50x	as long as short
MEXC XMR_USDT	+0.0482%	8h	574.57	+0.179%	$20.1M	$15.0M	100x	as long as short
Binance XMRUSDTshort	+0.0484%	8h	574.67	+0.197%	$52.5M	$164.8M	75x
BingX XMR-USDT	+0.0500%	8h	575.14	+0.278%	—	$5.7M	—	as long as short
Bitget XMRUSDT	+0.0515%	8h	574.38	+0.146%	$9.4M	$14.0M	50x	as long as short
Backpack XMR_USDC_PERP	+0.0526%	1h	574.27	+0.127%	$169K	$535K	20x	as long as short
Pacifica XMR	+0.0626%	1h	574.74	+0.209%	$265K	$1.1M	10x	as long as short
Extended XMR-USD	+0.0648%	1h	574.83	+0.224%	$3.1M	$8.4M	25x	as long as short
Aster XMRUSDT	+0.0670%	8h	574.14	+0.104%	$637K	$2.4M	75x	as long as short
Nado XMR-PERP	+0.0771%	1h	574.90	+0.237%	$1.3M	$466K	10x	as long as short
BloFin XMR-USDT	+0.0773%	8h	575.00	+0.254%	$2.7M	$11.2M	75x	as long as short
Paradex XMR-USD-PERP	+0.0797%	8h	575.13	+0.277%	$8K	$4K	20x	as long as short
Hyperliquid XMR	+0.0827%	1h	574.81	+0.221%	$86.4M	$71.0M	5x	as long as short
GRVT XMR_USDT_Perp	+0.0842%	8h	575.85	+0.402%	$345K	$733K	10x	as long as short
GMX XMR/USD [WBTC.b-USDC]long	L +0.0989% / S −0.1253%	1h	573.54	long leg	$590K	—	100x
Variational Omni XMR	+0.1014%	8h	574.77	+0.214%	$6.5M	$2.2M	—	as long as short
SoDEX XMR-USD	+0.1077%	1h	574.96	+0.247%	$437K	$3K	5x	as long as short
Orderly PERP_XMR_USDC	+0.1122%	8h	574.75	+0.210%	$40K	$735K	10x	as long as short
Aftermath Perps XMRUSD	+0.2018%	1h	575.09	+0.270%	$2K	$44K	10x	as long as short