Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.2174%/8h= +238.0% APRpaid last 24h +0.141%

Price spread now: GMX against MEXC−0.278%7-day average −0.196% · you buy dearer than you sell

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

Long on MEXC Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.284%+$28 on $10k

Price spread, last 3 days (all we have)+0.084%+$8 · spread now −0.278%, 7d avg −0.196%

Together, before fees+0.368%+$37 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.082% cheaper against MEXC than usual: you would sell low and buy high (spread −0.278% now, against its 7-day average of −0.196%). If the spread goes back, that is −$8 on $10k: about 3 hours of funding at the current rate (+$65 a day). At the pace of the last 3 days (+0.284% in total) that is about 22 hours.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.284% in total (about 32.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XMR_USDT	585.56	0.0432	pay 0.0432% / 8h	7h 00m	$21.2M	$15.3M	100x
Short	GMX XMR/USD [WBTC.b-USDC]	583.93	L +0.0895% / S −0.2606%	get 0.0326% / 1h	0m 34s	$545K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against MEXC. 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 MEXCbpFee GMXbpOrdersPrice spread, now −0.278%Rate

Funding earned: $456.52
Price spread: −0.278% → −0.196%: −$8.23
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee GMX: 6 bp × 2 orders: −$12
Net: $432.29
Costs to cover: 0.160%
Break-even: 0.4 days

Slippage unknown: MEXC: live order book, 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 MEXC live order book, 3 min ago	1.79 bp	14.2 bp −$14	33.4 bp −$334	68.0 bp −$6,800	223.1 bp −$111.5K
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	584.02	−0.262%	$34K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	596.76	+1.913%	$3K	$4K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	587.16	+0.273%	$1.0M	$663K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	584.33	−0.210%	$2K	$2.0M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	584.49	−0.183%	$1.1M	$1.6M	20x	as long as short
dYdX XMR-USD	+0.0169%	1h	584.14	−0.243%	$106K	$50K	5x	as long as short
Aevo XMR-PERP	+0.0192%	1h	585.16	−0.068%	$12K	—	3x	as long as short
MEXC XMR_USDTlong	+0.0432%	8h	585.56	long leg	$21.2M	$15.3M	100x
Binance XMRUSDT	+0.0432%	8h	584.92	−0.109%	$53.4M	$167.2M	75x	as long as short
Bitget XMRUSDT	+0.0562%	8h	584.96	−0.102%	$9.6M	$14.4M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate XMR_USDT	+0.0564%	8h	585.22	−0.058%	$1.6M	$4.7M	50x	as long as short
Aster XMRUSDT	+0.0623%	8h	584.80	−0.130%	$648K	$2.5M	75x	as long as short
BloFin XMR-USDT	+0.0628%	8h	585.17	−0.067%	$2.7M	$11.5M	75x	as long as short
Kraken Futures PF_XMRUSD	+0.0651%	1h	583.85	−0.292%	$5.5M	$20.5M	50x	as long as short
Pacifica XMR	+0.0659%	1h	585.39	−0.029%	$269K	$1.1M	10x	as long as short
KuCoin XMRUSDTM	+0.0715%	8h	585.46	−0.017%	$48.0M	$26.0M	50x	as long as short
GMX XMR/USD [WBTC.b-USDC]short	L +0.0895% / S −0.2606%	1h	583.93	−0.278%	$545K	—	100x
Variational Omni XMR	+0.0941%	8h	585.38	−0.030%	$6.7M	$2.6M	—	as long as short
Backpack XMR_USDC_PERP	+0.0949%	1h	584.37	−0.203%	$183K	$535K	20x	as long as short
GRVT XMR_USDT_Perp	+0.0961%	8h	589.16	+0.615%	$342K	$792K	10x	as long as short
Orderly PERP_XMR_USDC	+0.1042%	8h	585.03	−0.091%	$42K	$733K	10x	as long as short
Polymarket Perps XMR-USD	+0.1065%	1h	584.68	−0.150%	$50K	$1.9M	5x	as long as short
Lighter XMR	+0.1096%	1h	585.34	−0.038%	$3.3M	$7.2M	10x	as long as short
Bybit XMRUSDT	+0.1123%	8h	584.97	−0.101%	$46.9M	$64.8M	75x	as long as short
BingX XMR-USDT	+0.1137%	8h	585.50	−0.010%	—	$5.8M	—	as long as short
Paradex XMR-USD-PERP	+0.1241%	8h	585.32	−0.041%	$8K	$4K	20x	as long as short
SoDEX XMR-USD	+0.1242%	1h	585.08	−0.082%	$445K	$3K	5x	as long as short
Nado XMR-PERP	+0.1350%	1h	585.09	−0.080%	$1.3M	$464K	10x	as long as short
Hyperliquid XMR	+0.1842%	1h	585.86	+0.051%	$88.9M	$72.9M	5x	as long as short
Extended XMR-USD	+0.2336%	1h	585.11	−0.076%	$3.1M	$8.0M	25x	as long as short
Aftermath Perps XMRUSD	+0.2664%	1h	585.98	+0.071%	$1K	$46K	10x	as long as short