Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0586%/8h= −64.2% APRpaid last 24h −0.160%

Price spread now: GMX against Binance+0.064%7-day average +0.029% · you sell dearer than you buy

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

Long on Binance Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.604%−$60 on $10k

Price spread, last 3 days (all we have)+0.145%+$14 · spread now +0.064%, 7d avg +0.029%

Together, before fees−0.459%−$46 on $10k · with fees, hour by hour

The price spread pays, funding is against you. GMX is 0.035% dearer against Binance than usual: you sell high and buy low (spread +0.064% now, against its 7-day average of +0.029%): +$4 on $10k if it goes back. Holding the pair costs −$18 a day in funding at the current rate, which eats that in about 5 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ARUSDT	4.5850	0.0035	pay 0.0035% / 8h	31m 00s	$9.1M	$55.6M	75x
Short	GMX AR/USD [WBTC.b-USDC]	4.5880	L −0.0140% / S +0.0551%	pay 0.0069% / 1h	31m 00s	$589K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Binance. 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 BinancebpFee GMXbpOrdersPrice spread, now +0.064%Rate

Funding earned: −$123.04
Price spread: +0.064% → +0.029%: $3.54
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$141.49
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 11 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 Binance live order book, 11 min ago	1.09 bp	14.7 bp −$15	47.1 bp −$471	417.9 bp −$41.8K	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.

AR on 17 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_ARUSD	−0.1962%	1h	4.5879	+0.064%	$52K	$163K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]short	L −0.0140% / S +0.0551%	1h	4.5880	+0.064%	$589K	—	50x
OKX AR-USDT-SWAP	−0.0020%	8h	4.5800	−0.109%	$2.4M	$20.9M	20x	as long as short
Extended AR-USD	+0.0032%	1h	4.5831	−0.041%	$37K	$237K	10x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.5720	−0.284%	$3K	$339	5.5x	as long as short
MEXC AR_USDT	+0.0035%	8h	4.5850	0.000%	$6.8M	$4.4M	100x	as long as short
Binance ARUSDTlong	+0.0035%	8h	4.5850	long leg	$9.1M	$55.6M	75x
Hyperliquid AR	+0.0100%	1h	4.5934	+0.183%	$4.1M	$4.9M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.5829	−0.047%	$20K	$611K	10x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.5823	−0.059%	$4.6M	$8.9M	75x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate AR_USDT	+0.0100%	8h	4.5900	+0.109%	$2.6M	$2.3M	50x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.5870	+0.044%	$1.4M	$1.2M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.5850	0.000%	$3.9M	$5.6M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.5830	−0.044%	—	$2.9M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.5805	−0.099%	$139K	$172K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.5900	+0.109%	$58K	$747K	50x	as long as short
BloFin AR-USDT	+0.0141%	8h	4.5830	−0.044%	$434K	$675K	20x	as long as short