Funding arb · Price arb /

ALGO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0242%/8h= −26.5% APRpaid last 24h −0.056%

Price spread now: HTX against GMX+0.076%7-day average — · you sell dearer than you buy

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

Long on GMX Short on HTX

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

The price spread pays, funding is against you. HTX is 0.076% dearer against GMX than usual: you sell high and buy low (spread +0.076% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 25 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX ALGO/USD [WBTC.b-USDC]	0.1108	L +0.0342% / S −0.0313%	pay 0.0043% / 1h	57m 51s	$7K	—	100x
Short	HTX ALGO-USDT	0.1109	0.0100	get 0.0100% / 8h	5h 57m	$60K	$140K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.076%Rate

Funding earned: −$50.73
Price spread: +0.076% → 0.000%: $7.58
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$67.15
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; HTX: live order book, 3 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 HTX live order book, 3 min ago	12.11 bp	42.1 bp −$42	doesn't fit	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.

ALGO on 21 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
Deribit ALGO_USDC-PERPETUAL	−0.0381%	1h	0.1108	−0.042%	$100K	$49K	25x	as long as short
gTrade (Gains Network) ALGO/USD	L −0.0001% / S +0.0003%	1h	0.1109	+0.034%	$17K	—	150x	as long as short
Coinbase International ALGO-PERP-INTX	+0.0032%	1h	0.1120	+1.059%	$71K	$283K	50x	as long as short
Injective ALGO/USDC PERP	+0.0033%	1h	0.1120	+1.050%	$834	$233K	12x	as long as short
Variational Omni ALGO	+0.0067%	8h	0.1113	+0.410%	$61K	$12K	—	as long as short
Hyperliquid ALGO	+0.0100%	1h	0.1109	+0.049%	$3.7M	$2.0M	5x	as long as short
Aster ALGOUSDT	+0.0100%	8h	0.1108	−0.060%	$44K	$41K	5x	as long as short
Binance ALGOUSDT	+0.0100%	8h	0.1106	−0.177%	$9.7M	$34.6M	75x	as long as short
Bybit ALGOUSDT	+0.0100%	8h	0.1106	−0.186%	$11.4M	$12.2M	75x	as long as short
OKX ALGO-USDT-SWAP	+0.0100%	8h	0.1106	−0.168%	$2.9M	$7.6M	50x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ALGO_USDT	+0.0100%	8h	0.1106	−0.204%	$866K	$847K	50x	as long as short
MEXC ALGO_USDT	+0.0100%	8h	0.1107	−0.159%	$22.6M	$2.9M	200x	as long as short
KuCoin ALGOUSDTM	+0.0100%	8h	0.1107	−0.141%	$3.5M	$1.5M	50x	as long as short
Bitget ALGOUSDT	+0.0100%	8h	0.1107	−0.123%	$5.5M	$3.5M	75x	as long as short
BingX ALGO-USDT	+0.0100%	8h	0.1107	−0.123%	—	$3.3M	—	as long as short
HTX ALGO-USDTshort	+0.0100%	8h	0.1109	+0.076%	$60K	$140K	75x
Phemex ALGOUSDT	+0.0100%	8h	0.1111	+0.238%	$3.8M	$1.8M	50x	as long as short
Extended ALGO-USD	+0.0104%	1h	0.1106	−0.192%	$4K	$232K	10x	as long as short
GMX ALGO/USD [WBTC.b-USDC]long	L +0.0342% / S −0.0313%	1h	0.1108	long leg	$7K	—	100x
Kraken Futures PF_ALGOUSD	+0.0356%	1h	0.1109	+0.070%	$821K	$1.1M	50x	as long as short
dYdX ALGO-USD	+0.1687%	1h	0.1110	+0.140%	$160K	$4K	5x	as long as short