Funding arb · Price arb /

ANIME

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0397%/8h= −43.4% APRpaid last 24h +9.056%

Price spread now: Bitget against GMX−0.180%54s7-day average — · you buy dearer than you sell

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

Long on GMX Short on Bitget

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 −$12 a day on $10k at the current rate, and Bitget is 0.180% cheaper against GMX than usual: you would sell low and buy high (−$18 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 54 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	GMX ANIME/USD [ANIME-USDC]	0.003336	L +0.0497% / S −0.2017%	pay 0.0062% / 1h	42m 27s	$816	—	100x
Short	Bitget ANIMEUSDT	0.003330	0.0100	get 0.0050% / 4h	2h 42m	$851K	$149K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.180%Rate

Funding earned: −$83.32
Price spread: −0.180% → 0.000%: −$17.99
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$125.31
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Bitget: 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 Bitget live order book, 3 min ago	4.49 bp	32.0 bp −$32	188.8 bp −$1,888	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.

ANIME on 13 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
Kraken Futures PF_ANIMEUSD	−0.0041%	1h	0.003337	+0.043%	$33K	$1K	10x	as long as short
Hyperliquid ANIME	+0.0100%	1h	0.003338	+0.060%	$291K	$84K	3x	as long as short
Aster ANIMEUSDT	+0.0100%	4h	0.003330	−0.184%	$27K	$3K	5x	as long as short
Binance ANIMEUSDT	+0.0100%	4h	0.003327	−0.270%	$1.3M	$1.6M	20x	as long as short
Bybit ANIMEUSDT	+0.0100%	4h	0.003327	−0.270%	$682K	$270K	25x	as long as short
OKX ANIME-USDT-SWAP	+0.0100%	4h	0.003325	−0.330%	$427K	$506K	20x	as long as short
Gate ANIME_USDT	+0.0100%	4h	0.003330	−0.180%	$138K	$55K	25x	as long as short
MEXC ANIME_USDT	+0.0100%	4h	0.003330	−0.180%	$206K	$88K	20x	as long as short
KuCoin ANIMEUSDTM	+0.0100%	4h	0.003329	−0.210%	$436K	$58K	20x	as long as short
Bitget ANIMEUSDTshort	+0.0100%	4h	0.003330	−0.180%	$851K	$149K	10x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ANIME-USDT	+0.0100%	4h	0.003327	−0.270%	—	$6.5M	—	as long as short
Variational Omni ANIME	+0.0100%	4h	0.003341	+0.147%	$11K	$553	—	as long as short
GMX ANIME/USD [ANIME-USDC]long	L +0.0497% / S −0.2017%	1h	0.003336	long leg	$816	—	100x