Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0241%/8h= +26.3% APRpaid last 24h +0.038%

Price spread now: Gate against GMX−0.159%7-day average −0.049% · you buy dearer than you sell

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

Long on GMX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.237%+$24 on $10k

Price spread, last 4 days (all we have)−0.195%−$20 · spread now −0.159%, 7d avg −0.049%

Together, before fees+0.042%+$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 0.110% cheaper against GMX than usual: you would sell low and buy high (spread −0.159% now, against its 7-day average of −0.049%). If the spread goes back, that is −$11 on $10k: about 37 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX AR/USD [WBTC.b-USDC]	4.3830	L −0.0141% / S +0.0551%	get 0.0018% / 1h	32m 39s	$563K	—	50x
Short	Gate AR_USDT	4.3760	0.0100	get 0.0100% / 8h	3h 32m	$2.4M	$1.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.159%Rate

Funding earned: $50.52
Price spread: −0.159% → −0.049%: −$11
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $12.53
Costs to cover: 0.270%
Break-even: 5.3 days

Slippage unknown: GMX: no order-book sample; Gate: live order book, 5 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 Gate live order book, 5 min ago	8.09 bp	81.6 bp −$82	256.6 bp −$2,566	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.

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	−0.1231%	1h	4.3817	−0.029%	$59K	$143K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]long	L −0.0141% / S +0.0551%	1h	4.3830	long leg	$563K	—	50x
Aster ARUSDT	+0.0100%	8h	4.3762	−0.154%	$31K	$467K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.3750	−0.181%	$8.5M	$50.4M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.3822	−0.018%	$4.5M	$8.5M	75x	as long as short
OKX AR-USDT-SWAP	+0.0100%	8h	4.3860	+0.069%	$2.2M	$17.5M	20x	as long as short
Gate AR_USDTshort	+0.0100%	8h	4.3760	−0.159%	$2.4M	$1.9M	50x
MEXC AR_USDT	+0.0100%	8h	4.3770	−0.137%	$6.0M	$4.2M	100x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.3760	−0.159%	$1.1M	$1.3M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.3770	−0.137%	$3.8M	$5.2M	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	4.3760	−0.159%	—	$2.8M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.3302	−1.203%	$152K	$335K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.3450	−0.867%	$19K	$715K	50x	as long as short
Extended AR-USD	+0.0104%	1h	4.3760	−0.159%	$36K	$237K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.3860	+0.069%	$421K	$467K	20x	as long as short
Hyperliquid AR	+0.0375%	1h	4.3845	+0.035%	$3.7M	$4.4M	5x	as long as short
Injective AR/USDC PERP	+0.0433%	1h	4.4240	+0.936%	$2K	$5K	5.5x	as long as short