Funding arb · Price arb /

0G

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0298%/8h= −32.6% APRpaid last 24h −0.084%

Price spread now: GMX against Bybit−0.096%51s7-day average — · you buy dearer than you sell

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

Long on Bybit Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and GMX is 0.096% cheaper against Bybit than usual: you would sell low and buy high (−$10 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 51 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	Bybit 0GUSDT	0.2301	0.0100	pay 0.0050% / 4h	48m 26s	$2.3M	$2.2M	50x
Short	GMX 0G/USD [WBTC.b-USDC]	0.2299	L −0.0235% / S +0.0198%	pay 0.0025% / 1h	48m 26s	$2K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bybit. 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 BybitbpFee GMXbpOrdersPrice spread, now −0.096%Rate

Funding earned: −$62.61
Price spread: −0.096% → 0.000%: −$9.6
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GMX: 6 bp × 2 orders: −$12
Net: −$95.21
Costs to cover: 0.230%
Break-even: never at this rate

Slippage unknown: Bybit: 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 Bybit live order book, 3 min ago	4.34 bp	22.9 bp −$23	267.6 bp −$2,676	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.

0G on 16 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
BingX 0G-USDT	−0.0740%	4h	0.2303	+0.087%	—	$6.5M	—	as long as short
GMX 0G/USD [WBTC.b-USDC]short	L −0.0235% / S +0.0198%	1h	0.2299	−0.096%	$2K	—	100x
Aster 0GUSDT	+0.0100%	4h	0.2303	+0.087%	$16K	$43K	5x	as long as short
Binance 0GUSDT	+0.0100%	4h	0.2303	+0.075%	$6.8M	$8.3M	50x	as long as short
Bybit 0GUSDTlong	+0.0100%	4h	0.2301	long leg	$2.3M	$2.2M	50x
OKX 0G-USDT-SWAP	+0.0100%	4h	0.2303	+0.087%	$882K	$2.2M	20x	as long as short
Gate 0G_USDT	+0.0100%	8h	0.2301	0.000%	$591K	$147K	50x	as long as short
MEXC 0G_USDT	+0.0100%	4h	0.2302	+0.043%	$2.0M	$197K	50x	as long as short
Bitget 0GUSDT	+0.0100%	4h	0.2301	0.000%	$1.9M	$705K	50x	as long as short
Backpack 0G_USDC_PERP	+0.0100%	1h	0.2302	+0.043%	$31K	$54K	5x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni 0G	+0.0100%	4h	0.2304	+0.113%	$12K	$3K	—	as long as short
ApeX Omni 0GUSDT	+0.0100%	1h	0.2305	+0.174%	$18K	$622K	50x	as long as short
BloFin 0G-USDT	+0.0114%	4h	0.2304	+0.130%	$326K	$9K	50x	as long as short
KuCoin 0GUSDTM	+0.0160%	4h	0.2305	+0.178%	$2.4M	$2.4M	50x	as long as short
Hyperliquid 0G	+0.1100%	1h	0.2305	+0.174%	$2.5M	$483K	3x	as long as short
Lighter 0G	+0.1504%	1h	0.2308	+0.304%	$48K	$98K	3x	as long as short