Funding arb · Price arb /

XMR

all XMR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0709%/8h= −77.6% APRpaid last 24h −0.118%

Price spread now: Bybit against GMX+0.263%7-day average +0.171% · you sell dearer than you buy

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

Long on GMX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.390%−$39 on $10k

Price spread, last 3 days (all we have)−0.078%−$8 · spread now +0.263%, 7d avg +0.171%

Together, before fees−0.468%−$47 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.092% dearer against GMX than usual: you sell high and buy low (spread +0.263% now, against its 7-day average of +0.171%): +$9 on $10k if it goes back. Holding the pair costs −$21 a day in funding at the current rate, which eats that in about 10 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX XMR/USD [WBTC.b-USDC]	596.20	L +0.0809% / S −0.1288%	pay 0.0101% / 1h	14m 06s	$331K	—	100x
Short	Bybit XMRUSDT	597.77	0.0100	get 0.0100% / 8h	1h 14m	$48.6M	$61.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.263%Rate

Funding earned: −$148.8
Price spread: +0.263% → +0.171%: $9.22
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$162.58
Costs to cover: 0.230%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Bybit: live order book, 5 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 Bybit live order book, 5 min ago	0.08 bp	7.4 bp −$7	26.6 bp −$266	90.2 bp −$9,019	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
gTrade (Gains Network) XMR/USD	L +0.0010% / S −0.0009%	1h	596.54	+0.056%	$44K	—	150x	as long as short
Bybit XMRUSDTshort	+0.0100%	8h	597.77	+0.263%	$48.6M	$61.9M	75x
edgeX XMRUSDC	+0.0100%	4h	597.17	+0.163%	$1.1M	$666K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	596.82	+0.104%	$2K	$1.9M	20x	as long as short
Aevo XMR-PERP	+0.0168%	1h	597.74	+0.259%	$12K	—	3x	as long as short
Variational Omni XMR	+0.0314%	8h	597.50	+0.218%	$6.9M	$2.6M	—	as long as short
MEXC XMR_USDT	+0.0336%	8h	597.18	+0.164%	$22.3M	$15.0M	100x	as long as short
Binance XMRUSDT	+0.0339%	8h	597.57	+0.230%	$54.8M	$163.1M	75x	as long as short
Kraken Futures PF_XMRUSD	+0.0382%	1h	595.98	−0.038%	$5.7M	$20.4M	50x	as long as short
Pacifica XMR	+0.0387%	1h	597.73	+0.257%	$271K	$1.0M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX XMR-USDT	+0.0392%	8h	597.59	+0.233%	—	$5.7M	—	as long as short
Bitget XMRUSDT	+0.0418%	8h	597.61	+0.236%	$10.0M	$14.2M	50x	as long as short
BloFin XMR-USDT	+0.0473%	8h	597.97	+0.297%	$2.8M	$11.6M	75x	as long as short
Gate XMR_USDT	+0.0539%	8h	596.79	+0.099%	$1.7M	$4.6M	50x	as long as short
KuCoin XMRUSDTM	+0.0545%	8h	596.90	+0.117%	$48.6M	$25.8M	50x	as long as short
Lighter XMR	+0.0560%	1h	596.78	+0.097%	$3.4M	$6.9M	10x	as long as short
Aster XMRUSDT	+0.0563%	8h	597.73	+0.256%	$684K	$2.4M	75x	as long as short
GRVT XMR_USDT_Perp	+0.0614%	8h	597.80	+0.269%	$348K	$797K	10x	as long as short
Injective XMR/USDC PERP	+0.0695%	1h	596.76	+0.094%	$3K	$6K	12x	as long as short
GMX XMR/USD [WBTC.b-USDC]long	L +0.0809% / S −0.1288%	1h	596.20	long leg	$331K	—	100x
Polymarket Perps XMR-USD	+0.0864%	1h	597.77	+0.263%	$23K	$1.8M	5x	as long as short
Paradex XMR-USD-PERP	+0.0871%	8h	597.35	+0.192%	$8K	$4K	20x	as long as short
SoDEX XMR-USD	+0.0881%	1h	597.12	+0.154%	$454K	$3K	5x	as long as short
Orderly PERP_XMR_USDC	+0.0948%	8h	596.92	+0.121%	$44K	$729K	10x	as long as short
Backpack XMR_USDC_PERP	+0.1022%	1h	596.67	+0.079%	$203K	$575K	20x	as long as short
Nado XMR-PERP	+0.1279%	1h	597.63	+0.240%	$1.3M	$475K	10x	as long as short
Extended XMR-USD	+0.1880%	1h	597.68	+0.248%	$3.1M	$6.8M	25x	as long as short
dYdX XMR-USD	+0.1880%	1h	596.66	+0.077%	$108K	$50K	5x	as long as short
Hyperliquid XMR	+0.1922%	1h	598.54	+0.392%	$89.5M	$69.3M	5x	as long as short
HTX XMR-USDT	+0.1976%	8h	595.95	−0.042%	$1.1M	$1.5M	20x	as long as short
Aftermath Perps XMRUSD	+0.2415%	1h	597.19	+0.165%	$2K	$47K	10x	as long as short