Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0651%/8h= −71.3% APRpaid last 24h −0.150%

Price spread now: GMX against Gate−0.031%7-day average +0.051% · you buy dearer than you sell

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

Long on Gate Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.564%−$56 on $10k

Price spread, last 4 days (all we have)+0.560%+$56 · spread now −0.031%, 7d avg +0.051%

Together, before fees−0.004%$0 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$20 a day on $10k at the current rate, and GMX is 0.082% cheaper against Gate than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.051%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate AR_USDT	4.4950	0.0100	pay 0.0100% / 8h	4h 30m	$2.5M	$1.9M	50x
Short	GMX AR/USD [WBTC.b-USDC]	4.4936	L −0.0141% / S +0.0551%	pay 0.0069% / 1h	30m 43s	$577K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Gate. 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 GatebpFee GMXbpOrdersPrice spread, now −0.031%Rate

Funding earned: −$136.73
Price spread: −0.031% → +0.051%: −$8.17
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee GMX: 6 bp × 2 orders: −$12
Net: −$171.9
Costs to cover: 0.270%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 2 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 Gate live order book, 2 min ago	5.57 bp	81.9 bp −$82	405.5 bp −$4,055	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.

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
GMX AR/USD [WBTC.b-USDC]short	L −0.0141% / S +0.0551%	1h	4.4936	−0.031%	$577K	—	50x
OKX AR-USDT-SWAP	+0.0020%	8h	4.5010	+0.133%	$2.3M	$18.0M	20x	as long as short
Hyperliquid AR	+0.0100%	1h	4.5040	+0.200%	$4.0M	$4.4M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.4930	−0.044%	$26K	$478K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.5005	+0.123%	$8.8M	$49.9M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.5004	+0.120%	$4.6M	$8.2M	75x	as long as short
Gate AR_USDTlong	+0.0100%	8h	4.4950	long leg	$2.5M	$1.9M	50x
MEXC AR_USDT	+0.0100%	8h	4.5000	+0.111%	$6.4M	$4.2M	100x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.4940	−0.022%	$1.1M	$1.2M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.4980	+0.067%	$3.9M	$5.1M	75x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX AR-USDT	+0.0100%	8h	4.4980	+0.067%	—	$2.8M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.4917	−0.073%	$237K	$246K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.4900	−0.111%	$19K	$722K	50x	as long as short
Extended AR-USD	+0.0104%	1h	4.4982	+0.072%	$37K	$233K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.4890	−0.133%	$424K	$482K	20x	as long as short
Kraken Futures PF_ARUSD	+0.0692%	1h	4.4901	−0.108%	$61K	$160K	20x	as long as short
Injective AR/USDC PERP	+0.0854%	1h	4.4770	−0.400%	$2K	$5K	5.5x	as long as short