Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0423%/8h= −46.4% APRpaid last 24h −0.025%

Price spread now: MEXC against GMX+0.159%7-day average +0.195% · you sell dearer than you buy

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

Long on GMX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.205%−$20 on $10k

Price spread, last 3 days (all we have)+0.057%+$6 · spread now +0.159%, 7d avg +0.195%

Together, before fees−0.148%−$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and MEXC is 0.036% cheaper against GMX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.195%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX XMR/USD [WBTC.b-USDC]	588.29	L +0.0946% / S −0.1181%	pay 0.0118% / 1h	16m 53s	$656K	—	100x
Short	MEXC XMR_USDT	589.22	0.0523	get 0.0523% / 8h	6h 16m	$21.0M	$15.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.159%Rate

Funding earned: −$88.9
Price spread: +0.159% → +0.195%: −$3.58
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$108.48
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; MEXC: live order book, 2 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 MEXC live order book, 2 min ago	0.09 bp	16.1 bp −$16	31.1 bp −$311	78.0 bp −$7,804	234.3 bp −$117.1K

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 30 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 −0.0010%	1h	588.65	+0.063%	$35K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	596.76	+1.441%	$3K	$4K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	589.93	+0.280%	$1.1M	$669K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	589.19	+0.154%	$2K	$1.9M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	588.00	−0.048%	$1.1M	$1.6M	20x	as long as short
Aevo XMR-PERP	+0.0208%	1h	589.00	+0.121%	$12K	—	3x	as long as short
dYdX XMR-USD	+0.0402%	1h	588.31	+0.004%	$107K	$50K	5x	as long as short
Binance XMRUSDT	+0.0523%	8h	589.47	+0.201%	$53.8M	$168.3M	75x	as long as short
MEXC XMR_USDTshort	+0.0523%	8h	589.22	+0.159%	$21.0M	$15.3M	100x
Bitget XMRUSDT	+0.0617%	8h	589.16	+0.149%	$9.6M	$14.3M	50x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster XMRUSDT	+0.0703%	8h	589.31	+0.174%	$658K	$2.5M	75x	as long as short
Gate XMR_USDT	+0.0784%	8h	588.78	+0.084%	$1.6M	$4.6M	50x	as long as short
BingX XMR-USDT	+0.0794%	8h	589.56	+0.217%	—	$5.8M	—	as long as short
KuCoin XMRUSDTM	+0.0798%	8h	589.10	+0.138%	$48.3M	$26.1M	50x	as long as short
Pacifica XMR	+0.0821%	1h	589.81	+0.260%	$271K	$1.1M	10x	as long as short
Bybit XMRUSDT	+0.0845%	8h	589.27	+0.167%	$47.6M	$64.9M	75x	as long as short
GMX XMR/USD [WBTC.b-USDC]long	L +0.0946% / S −0.1181%	1h	588.29	long leg	$656K	—	100x
Polymarket Perps XMR-USD	+0.1012%	1h	589.44	+0.196%	$33K	$2.1M	5x	as long as short
Backpack XMR_USDC_PERP	+0.1019%	1h	589.13	+0.144%	$184K	$534K	20x	as long as short
Variational Omni XMR	+0.1027%	8h	590.80	+0.427%	$6.7M	$2.9M	—	as long as short
Orderly PERP_XMR_USDC	+0.1062%	8h	589.60	+0.223%	$42K	$736K	10x	as long as short
Lighter XMR	+0.1072%	1h	589.64	+0.230%	$3.3M	$7.2M	10x	as long as short
GRVT XMR_USDT_Perp	+0.1092%	8h	589.70	+0.240%	$345K	$786K	10x	as long as short
Paradex XMR-USD-PERP	+0.1277%	8h	589.51	+0.208%	$8K	$4K	20x	as long as short
Kraken Futures PF_XMRUSD	+0.1299%	1h	588.58	+0.050%	$5.6M	$20.5M	50x	as long as short
Nado XMR-PERP	+0.1490%	1h	589.91	+0.276%	$1.3M	$467K	10x	as long as short
SoDEX XMR-USD	+0.1734%	1h	589.85	+0.266%	$448K	$3K	5x	as long as short
Hyperliquid XMR	+0.1738%	1h	589.78	+0.254%	$89.1M	$73.8M	5x	as long as short
Extended XMR-USD	+0.2056%	1h	589.16	+0.148%	$3.2M	$8.3M	25x	as long as short
Aftermath Perps XMRUSD	+0.2772%	1h	589.23	+0.160%	$1K	$46K	10x	as long as short